Democrats in the U.S. House of Representatives Wednesday introduced legislation that would create a financial products watchdog to crack down on unsafe lending practices. Bill Delahunt of Massachusetts and Brad Miller of North Carolina introduced the bill to create a …
Judgment Day “I have been embarrassed. I have been humiliated. I have been ridiculed and I have been disgraced.” —Retired Pennsylvania Superior Court Judge Michael Joyce, who was sentenced in March to 46 months in prison for falsely collecting $440,000 …
The U.S. House of Representatives swiftly passed a bill Thursday to recoup controversial bonuses paid to American International Group Inc. as Treasury Secretary Timothy Geithner tried to calm the furor by taking responsibility. In the face of public outrage at …
The Obama administration turned up the heat on AIG Tuesday over its employee bonuses, saying the embattled insurer will be forced to repay U.S. taxpayers before it gets another bailout of $30 billion. Treasury Secretary Timothy Geithner laid out the …
American International Group Inc., which has received $180 billion in taxpayer money to stay in business, created 73 millionaires with bonuses of $1 million or more in 2008, New York’s top legal officer said on Tuesday. New York Attorney General …
The U.S. Treasury is expected to propose within days the creation of a “systemic risk regulator,” probably the Federal Reserve, to oversee banking and market problems that could threaten the economy. On both sides of the Atlantic, “tunnel vision” is …
Barack Obama is scrambling to assure Americans he is keenly aware of public outrage over taxpayer-backed bonuses for AIG executives, lest his own economic plan get caught up in the outcry. “How do they justify this outrage to the taxpayers …
Amid simmering outrage over $165 million in bonuses paid to executives at ailing AIG, Representative Barney Frank said Monday it may be time to fire some people at the insurance giant. “These people may have a right to their bonuses …
Goldman Sachs Group and a parade of European banks were the major beneficiaries of $93 billion in payments from American International Group — more than half of the U.S. taxpayer money spent to rescue the massive insurer. The revelation on …
A U.S. congressional panel postponed a Wednesday hearing on the Treasury Department’s use of a $700 billion financial bailout fund and priorities of president-elect Obama’s administration, the House Financial Services Committee said Monday. A reason for the postponement was not …
