Telling lawmakers that the U.S. financial system has grown "too unstable and fragile," Treasury Secretary Timothy Geithner rolled out the Obama administration's plans Thursday for a massive overhaul of the government's financial oversight role.

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.

Question: Why does AIG need yet another bailout? Paul Solman: As Joe Nocera and Frank Partnoy explained on Monday’s show, it’s all about the “counterparties.” These are the large financial institutions with whom…

Latest News