AIG Sheds Too-Big-to-Fail Label in Victory for CEO, Icahn
- Government’s FSOC says insurer no longer threat to economy
- Insurer freed of stricter oversight, tighter capital rules
The American International Group Inc. (AIG) headquarters office stands in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
American International Group Inc. is no longer too big to fail.
That was the ruling Friday from the Financial Stability Oversight Council, which said AIG, whose collapse in 2008 reverberated throughout the U.S. economy, was no longer a systemically important financial institution.