U.S. Treasury Secretary Timothy Geithner flatly denied any role in counseling American International Group Inc. to keep quiet about payments it made to leading banks during a 2008 rescue of the stricken insurer. Geithner faces a grilling on Wednesday before …
Former U.S. Treasury Secretary Henry Paulson staunchly defended the decision to rescue troubled insurer American International Group Inc. in 2008 and said he and others involved acted properly. In testimony prepared for a hearing Wednesday of the U.S. House of …
In a victory for ratings agencies, a U.S. judge Tuesday dismissed claims against Moody’s Corp. and McGraw-Hill’s Standard & Poor’s in litigation over nearly $100 billion of Lehman Brothers Holdings Inc. mortgage-backed securities. Investors had accused the agencies of serving …
The U.S. government Tuesday banned hand-held “texting” by drivers of large commercial trucks and buses to avoid the danger of distracted driving. Transportation Secretary Ray LaHood said in a statement the prohibition takes effect immediately. It follows a similar ban …
American International Group Inc. has given employees of its Financial Products unit until Tuesday to accept a cut in money owed them under a retention plan in return for an earlier payout, according to proposals obtained by Reuters Monday. The …
A U.S. bailout watchdog has launched two new investigations into the New York Federal Reserve Bank’s actions on insurer AIG’s disclosure of payments to banks after its 2008 rescue, excerpts of prepared congressional testimony showed on Monday. Neil Barofsky, the …
U.S. securities regulators originally treated the New York Federal Reserve’s bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security, according to emails obtained by Reuters. The …
A 63-year-old former bookkeeper at a Dalton, Georgia insurance brokerage is facing federal charges she embezzled more than $1 million from her employer. Prosecutors say Carolyn Lynn Cherry of Chatsworth forged her supervisor’s signature on company checks from 2003 to …
House Speaker Nancy Pelosi said Thursday she did not think the Senate’s version of healthcare reform had enough support to pass the House of Representatives without changes. “I don’t see the votes for it,” Pelosi told reporters, adding congressional leaders …
The private crop insurance industry is blasting a proposed restructuring in the crop insurance program they say would cut $4 billion — or $800 million a year — over the next five years. The proposal, by the U.S. Department of …
