AIG Cancels $8 Million Worth of Meetings in Agreement with NY A.G. Cuomo

Just days after insurance behemoth American International Group announced that it was being rescued by an $85 billion loan from the Federal Reserve, top-producing agents were checking into the luxury St. Regis Resort, Monarch Beach (Calif.), for a recognition event sponsored by AIG. When news of the conference broke, commentators had a field day and AIG found itself in a public relations nightmare. White House Press Secretary Dana Perino, for example, called AIG “despicable.”