In a 200-page complaint filed in federal court Monday, dozens of former government contractors injured in Iraq and Afghanistan accuse their old employers and insurance carriers of blocking or withholding their health benefits.
Today, the Congressional Oversight Panel for the Treasury’s Troubled Asset Relief Program, headed by Elizabeth Warren, is holding a set of hearings on failed insurer AIG. Warren takes AIG to task for its blatant disregard for sound practices. “The company was a corporate Frankenstein, a conglomeration of banking and More…
On Tuesday, the Senate voted in a landslide to approve the Audit the Fed amendment to Sen. Chris Dodd’s (D-Conn.) financial regulatory reform proposal. Sen. Bernie Sanders (I-Vt.), the author of the amendment, has directed the Government Accountability Office to publish a report on the Fed’s books by Dec. 1, More…
This morning, Goldman Sachs, among the most lucrative of the Wall Street firms, released an eight-page shareholder note, a preface to its 2009 annual report, which will be out later this month.
Underscoring the extent to which taxpayers saved bankers during the crash, the words “Washington” and “government” and More…
The Lehman Brothers bankruptcy examiner’s report is the gift that just keeps on giving to critics of the administration, the bank bailout and the current efforts at financial market reform. Today, Ryan Grim of the Huffington Post reports that Tim Geithner, already under fire for encouraging Goldman More…
Some good reading today in The Washington Post, which got its hands on transcripts depicting reactions from some AIG employees when their bonuses were threatened last year.
Behind closed doors, employees at AIG’s Financial Products division — the very unit whose trading had hastened the insurance giant’s collapse
Paul Volcker, former Fed chair and current Economic Recovery Advisory Board chair, says that it’s time for Goldman Sachs to make a choice: Either it’s a bank or it’s not.
In the midst of the financial crisis, Goldman Sachs and Morgan Stanley sought licenses to become bank holding More…
If you read the stories in The Wall Street Journal last week or The New York Times this week about campaign contributions from financial companies, you might have the impression that financial PACs and executives are shifting their money from Democrats to Republicans en masse over More…
Gretchen Morgenson and Louise Story’s New York Times piece yesterday was a thorough explanation of Goldman Sachs’ machinations that contributed to the collapse of AIG and the government’s perceived need to jump in and pay for everything without negotiating prices.
But unless you’re well-versed in the modern minutiae More…
To hear Treasury Secretary Tim Geithner tell the tale, the federal officials negotiating the taxpayer bailout of American Insurance Group had no choice but to provide full payment to the company’s trading partners, including Goldman Sachs.
“There was no way, financial, legal, or otherwise, we could have imposed More…
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