Economy May 13

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Treasury Seeks More Regulation of Risky Derivative Trades

The Obama administration is seeking new authority to oversee the virtually unregulated market for derivatives, a class of exotic financial instruments that includes the risky contracts that helped cripple insurance giant American International Group.

Economy Mar 18

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AIG Chairman Liddy Heads to Capitol Hill

The head of American International Group appeared on Capitol Hill Wednesday amid a furor over bonus pay at the company and told lawmakers that he's called on employees to return a portion the controversial payments.

Economy Mar 16

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Obama Cites ‘Outrage’ Over AIG Bonuses

President Barack Obama said Monday that he intends to stop American International Group from paying out millions in executive bonuses, as concern intensified over the insurance giant's handling of federal rescue money.

Economy Mar 03

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Bernanke Defends AIG Rescue, Urges Quick Moves on Economy

Federal Reserve Chairman Ben Bernanke advised moving "aggressively" to ease the economic crisis during testimony to lawmakers Tuesday while defending the government's latest moves to prop up troubled insurance giant American International Group.

Even though the U.S. government threw an $85 billion lifeline to troubled insurer American International Group, Inc. Tuesday, U.S. stocks took another beating Wednesday led by plummeting shares of investment banks Morgan Stanley and Goldman Sachs.