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
More scrutiny of President Obama’s proposed bank regulations coming this week. Not only will Paul Volcker, chairman of the White House Economic Recovery Advisory Board, be testifying tomorrow before the Senate Banking Committee, but another hearing featuring Wall Street executives has been scheduled for Thursday, the committee just More…
Larry Bossidy, former Honeywell chairman and CEO, today pointed out the under-appreciated predicament facing not only the finance industry but also the Washington policymakers who have spent hundreds of billions of dollars in the name of thawing frozen credit markets. Namely, there are contradictory pressures on the banks to lend More…
The Hill has a great piece this morning revealing how some powerful Democrats have lobbied the Federal Deposit Insurance Corporation urging bailout funds for banks in the lawmakers’ home states.
Senate Majority Leader Harry Reid (D-Nev.), for example, wrote a letter in December asking the FDIC to “give appropriate More…
Responding to the creeping notion that the government might be forced to swoop in and nationalize some of the country’s flailing banks, Washington’s financial regulators chimed in late Monday to proclaim their confidence in Wall Street’s financial titans to manage the current storm themselves. In a statement, the regulators More…
rss