Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

NEWS ABOUT: AIG

Stories 101 - 120 | << Prev   Next >>

Switch to grid view »

AIG Bonus Vote Splits GOP Honchos

Insider Boehner and publicity-hungry Cantor go opposite ways

(Newser) - The vote to tax AIG bonuses split the House’s top two Republicans, and illustrates the differences in their strategies, reports Politico. Minority Leader John Boehner voted against, calling it “a bad bill with bad consequences.” Boehner’s No. 2, rising star Eric Cantor, supported it, calling it... More »

AIG Sues US Over Tax Payments

(Newser) - Even as Washington rails against AIG’s bonus giveaway, the insurer is quietly suing the government for $306 million in tax payments, the New York Times reports. AIG’s case hinges largely on its use of offshore tax havens, including one entity that handles executive compensation. It also says it... More »

AIG Execs Face Fury of Angry Public

Amid death threats, some are returning hefty bonuses

(Newser) - The AIG scandal has turned company execs from pillars of their communities into dastardly villains, reports the New York Times. Witness James Haas—or Jackpot Jimmy as the New York Post calls him. "I didn’t have anything to do with those credit problems,” says Haas, who fought... More »

Ex AIG Boss: It's Not My Fault

Says he doesn't back retention bonuses

(Newser) - AIG’s former CEO tells CBS that the bonuses now sparking national outrage would not have happened under his watch. Hank Greenberg, ousted in 2005, said he doesn’t back such retention bonuses, blamed the firm's collapse on the "stupidity" of his successors, and thinks the current CEO should... More »

Let's Downsize Our Outrage

(Newser) - It’s time to put down the pitchforks, writes Steven Pearlstein in the Washington Post. Public outrage is getting so hot that it’s actually undermining government efforts to contain the financial crisis. Right now, the Treasury is desperately trying to lure private capital back into the so-called shadow banking... More »

Dodd Weakened by Outcry Over AIG Bonuses

Confusion over Conn. senator's role adds to mounting woes

(Newser) - The financial crisis has exacted a political toll on Sen. Chris Dodd few would have seen coming. The veteran senator, elected in 1980, now trails his challenger by 1%, reports the Hill. Resentment of VIP mortgages he received was already hurting him. Dodd’s fumbled explanations of his role in... More »

Geithner: I Take Full Responsibility

(Newser) - Treasury chief Tim Geithner said today that he asked Chris Dodd to add a stimulus loophole allowing AIG to dole out bonuses. Geithner told CNN he felt he had no choice because the government would have been vulnerable to lawsuits if it tried to stop them. "But we also... More »

House OKs 90% Tax on AIG Bonuses

(Newser) - By a 328-93 vote, the House today approved a bill that would recover most of the bonus money awarded to executives of bailout-buoyed AIG by taxing it at 90%. The measure drew significant Republican support, and some Democrats made it clear the legislation is an attempt to persuade execs to... More »

Hill Grilled the Wrong AIG Guy

(Newser) - Edward Liddy’s much-ballyhooed testimony yesterday—Chris Matthews billed it as “Watergate Redux”—didn’t wind up accomplishing much, “aside from revealing congressional ignorance of all things financial,” Daniel Gross writes in Slate. Yes, Liddy currently runs the reviled AIG, but he wasn’t running it... More »

Anger? Now That Would Be a Bonus

'Baby' Geithner, Obama should be more worked up over AIG: Collins

(Newser) - Thank meek Tim Geithner for the wrath coming from the New York Times today. “We need a Treasury secretary so terrifying that if you were stuck in an elevator alone with him, you would just hand over your wallet,” Gail Collins writes. “And I’m totally angry... More »

AIG's Money Lined Pockets in Washington

Dodd, Bush, Obama campaigns benefited from insurer's largesse

(Newser) - Chris Dodd has been a major AIG critic of late, but the Senate Banking chairman also has the uncomfortable distinction of being the politician to benefit the most from the insurer’s generosity, the Wall Street Journal reports. AIG employees have donated $280,000 to Dodd over the years, including... More »

Welcome Back, Loudmouth

Journal responds to Spitzer's sniping

(Newser) - Taking potshots from Eliot Spitzer yesterday felt just like old times to the Wall Street Journal editorial board. "The Journal editorial page has been wrong on just about every issue out there," Spitzer told interviewer Brian Lehrer after being reminded of the paper's criticism of his efforts... More »

Geithner Swinging in Wind After Fed Drops AIG Ball

Treasury says Fed kept them in dark, despite sec's previous role

(Newser) - Officials at the Fed knew about AIG's plan to award $165 million in bonuses for months but failed to tell the Obama administration, reports the Washington Post. Treasury Secretary Tim Geithner said this week he was "stunned when I learned how bad this was"—belatedly on March 10—... More »

How Obama Can Reboot Geithner

Treasury sec needs a freer hand and more staff to survive

(Newser) - Three times in 3 days the president has had to offer a defense of Tim Geithner, who will almost certainly remain Treasury secretary despite calls to resign. As Eamonn Javers reports in Politico, the White House now has to perform some crisis management: Keep Geithner out of the spotlight, allow... More »

'AIG Buck Stops With Me'

'I'll take responsibility,' he tells Californians

(Newser) - President Obama began a two-day swing through California yesterday, again accepting blame for the AIG mess and urging Washington to stop its finger-pointing, the Wall Street Journal reports. “Washington is in a tizzy and everybody is pointing fingers at each other and saying it's their fault, the Democrats' fault,... More »

House Votes Today on Bonus Clawback

Bill being rushed through would slap 90% tax on bonuses at bailed-out firms

(Newser) - The House will vote today on a hastily crafted bill to claw back bonuses from executives at AIG and other bailed-out firms, reports the Hill. The bill, drawn up by Democratic tax experts, slaps a 90% tax on bonuses over $250,000 at firms that received $5 billion or more... More »

Dodd: 'I Saved AIG Bonuses at White House Request'

He was follwoing White House orders, sayd Senate Banking Committee chair

(Newser) - The bonus loophole mystery has been solved. Banking Committee Chairman Sen. Chris Dodd added language to the stimulus bill that allowed the AIG bonuses to stand—at the request of the White House, he told CNN. The Connecticut Democrat said he did so reluctantly at the insistence of unnamed Obama... More »

Frank's House Panel to Grill Geithner Twice

Another Republican congressman calls for him to resign

(Newser) - As criticism of Treasury Secretary Timothy Geithner mounts, he is scheduled to take his place on the hot seat next week, the Wall Street Journal reports. Geithner will appear before Barney Frank's House panel—the same one grilling AIG chief Edward Lilly today—Tuesday and Thursday. Two Republican congressmen, Connie... More »

Just Quit, Geithner: GOP Rep.

AIG bonuses is latest of Tim's failings: Mack

(Newser) - The AIG bonus flap is the last straw for Rep. Connie Mack, who today called for Treasury Secretary Timothy Geithner to resign or be fired, USA Today reports. “The scandal is but the latest fiasco under his watch,” said the Florida Republican, the first among GOP congressmen to... More »

AIG Mess Shows Why the Feds Should Quit Banking

(Newser) - All the hubbub around AIG and its bonuses is “a complete farce,” Larry Kudlow writes in the National Review. No one should be surprised that those in charge have “completely bungled” the situation. “The government shouldn’t run anything, because it cannot run anything,” Kudlow... More »

Stories 101 - 120 | << Prev   Next >>
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne