On March 15, President Obama unveiled his plan for reforming the nation’s education system. The bulk of the plan, which looks to overhaul George W.
Are you furious?
AIG understated the amount of money it paid out to top executives after receiving federal bailout money, the attorney general of Connecticut says — but AIG denies the accusations.
Twenty state attorneys general announced investigations Friday into the $165 million bonuses paid by insurance giant AIG last week, with Connecticut’s top lawyer issuing subpoenas to CEO Edward Liddy and 11 other executives. Connecticut Attorney General Richard Blumenthal and the Democratic chairman of the General Assembly’s Banks Committee want Liddy and other executives to appear Thursday and bring with them “original or copies of documents regarding the AIG Financial Products Corp
Barely a day goes by on Capitol Hill without some politician expressing a good measure of righteous indignation.
Although Treasury Secretary Timothy Geithner told congressional leaders on Tuesday that he learned of AIG’s impending $160 million bonus payments to members of its troubled financial-products unit on March 10, sources tell TIME that the New York Federal Reserve informed Treasury staff that the payments were imminent on Feb. 28. That is 10 days before Treasury staffers say they first learned “full details” of the bonus plan, and three days before the Administration launched a new $30 billion infusion of cash for AIG
Insurance giant AIG will have to return to the Treasury Department the $165 million it just paid out in executive bonuses, Treasury Secretary Timothy Geithner said Tuesday in a letter to congressional leaders. “We will impose on AIG a contractual commitment to pay the treasury from the operations of the company the amount of the retention awards just paid,” Geithner wrote
Bank of America CEO and Chairman Kenneth Lewis has been issued a subpoena by the New York State Attorney General’s Office, which is investigating whether the bank violated state law by withholding information from investors, a source familiar with the investigation told CNN. Attorney General Andrew Cuomo has been highly critical of Wall Street firms in general and Merrill Lynch in particular for the way they have conducted themselves in the midst of a financial crisis.
A U.S. Border Patrol helicopter went down Thursday night near the San Onofre Nuclear Generating Station, according to the Federal Aviation Administration