Yet a headline in Mr. Schneiderman’s announcement said, “Greenberg Admits to Initiating, Participating and Approving Two Fraudulent Transactions” while he ran A.I.G. Advertisement Continue reading the main storySome news headlines did not distinguish between the defendants’ statements and Mr. Schneiderman’s portrayal of what those statements said. “Greenberg Admits Aiding in Fraudulent Deals in AIG Settlement,” Bloomberg News said. At Monday’s news conference, Mr. Greenberg said Mr. Spitzer’s case had contributed to the downfall of A.I.G., which survives in shrunken form after a $185 billion federal bailout in 2008, three years after Mr. Greenberg’s ouster as chief executive. But at the news conference, Mr. Smith, Mr. Greenberg’s co-defendant, denied deceiving investors.

Source: New York Times February 14, 2017 01:52 UTC