The Obama administration is studying a long-discussed proposal to create a U.S. agency that would protect consumers who buy financial products, possibly as part of a major package of reforms, congressional aides said on Tuesday. The proposal, offered as legislation …
The head of the Securities and Exchange Commission said Friday she favors a new proposal for federal regulators sharing oversight of companies that pose financial risks to the U.S. economy. SEC Chairman Mary Schapiro said she’s “inclined toward” the idea …
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 …
The Obama administration Tuesday mounted a full-scale push for government authority to shut down troubled institutions like insurer AIG to avoid the need for future bailouts. U.S. Treasury Secretary Timothy Geithner, testifying before lawmakers still fuming about big bonuses for …
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 …
Where, oh where, did AIG’s bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published. The Wall Street Journal reported on Friday …
U.S. lawmakers blasted state and federal regulators for dodging blame and keeping secrets after the failure of insurance giant American International Group Inc., which now has access to more than $170 billion in taxpayer money. Calling AIG “the greatest corporate …
U.S. regulators failed to spot how much risk insurer AIG was piling on, and by the time they understood, they had no choice but to pour in tens of billions of public dollars, officials said Thursday. At a Senate Banking …
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 …
