As the furor continues over millions of dollars in employee bonuses at the failed insurance giant AIG, lawmakers and administration officials in Washington are weighing their options to either block the payments or penalize the company.

One day before General Motors and Chrysler are required to submit restructuring plans to Congress, it was widely reported that President Barack Obama has decided to scrap plans to appoint a "car czar" who would oversee the automakers' restructuring.

President Barack Obama and Treasury Secretary Timothy Geithner imposed tough rules Wednesday to rein in corporate pay, capping executive compensation at $500,000 a year for companies getting taxpayer funds. Here are the president's prepared remarks:…

Feb 03

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Former Democratic Senate majority leader Tom Daschle withdrew his nomination to be President Barack Obama's Health and Human Services secretary Tuesday, saying he did not want to be a distraction after paying $140,000 in back taxes.

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