The U.S. government rescued giant insurer American International Group in part because its collapse would dramatically hurt European banks, a senior Democratic lawmaker said Thursday. The U.S. government has bailed out AIG three times since Sept. 16 and committed about …
The U.S. government took action Thursday to halt two Ponzi schemes as investors continue to reel from the fallout of accused swindler Bernard Madoff’s alleged $50 billion fraud. Securities and futures regulators charged a Philadelphia-area fund manager with operating a …
The U.S. Securities and Exchange Commission voted on Wednesday to begin scrutinizing annuities linked to equity indexes, a complex financial product the agency says falls into a regulatory no-man’s land. The 4-1 vote by the SEC immediately drew a sharp …
The credit crisis shows regulatory gaps need to be closed on credit default swaps and investment bank supervision, the chairman of the U.S. Securities and Exchange Commission said on Thursday. “The lessons of the credit crisis all point to the …
The head of a U.S. congressional finance panel said Monday he would seek to regulate the fast-growing $55 trillion credit default swaps market, which has been blamed for exacerbating the financial meltdown. Rep. Barney Frank, a Massachusetts Democrat, said regulation …
Lawmakers criticized American International Group Inc. Tuesday for ignoring financial warnings and for executive compensation deals and lavish spending, including a company gathering at an expensive resort just days after getting an $85 billion rescue loan. Former top executives, who …
U.S. regulators sent a letter to American International Group Inc. in March warning of its lack of transparency and ability to oversee its financial products, a top Democratic lawmaker said Tuesday. Rep. Henry Waxman, who chairs the House Oversight and …
