American International Group News

No 19 - U.S. Treasury Secretary Timothy Geithner defended the costly bailout of AIG and urged swift regulatory reform to safeguard the economy from the failure of big financial firms.

A proposal by Rep. Paul E. Kanjorski was voted for 38 to 29 in legislation on Wednesday.

Sun Life Financial Inc. President Jon Boscia said the U.S. insurance market is a oefragmented,a allowing Canadaa s third-largest insurer to expand there.

Treasury Secretary Timothy F. Geithner is making few new friends in Congress these days, as a growing litany of bipartisan critics are questioning whether he should keep his job.

Earlier this week, the inspector-general for the Troubled Asset Relief Program, aka the bank bailout fund, released his report on the 2008 rescue of the American International Group, the insurer.

The Federal Reservea s shield from congressional audits of interest-rate decisions took a blow from lawmakers who want to open the central banka s books to greater congressional scrutiny.

U.S. Federal Reserve chairman Ben Bernanke's nomination to a second term will be the subject of a Senate Banking Committee hearing next month, the panel's chairman said Friday.

By Ed Leefeldt It was damn good theater. The Republican members of Congress 's Joint Finance Committee had U.S. Treasury Secretary Tim Geithner on the carpet and were trying to pull the rug out from under him.

J.C. Penney will stop publishing its twice-yearly "big book" catalogs, now that customers increasingly shop online.

Republican lawmakers demanded a Congressional hearing to review whether the Federal Reserve Bank of New York was unprepared to deal with the bailout of American International Group Inc.

Taiwan is raising concerns that the buyers of AIG's Nan Shan Life insurance unit, China Strategic and Primus Financial, are backed by China-sourced funds, complicating the approval process behind the $2.15 billion deal, an official said on Thursday.

Goldman Sachs apologised for its role in the financial crisis on Tuesday and pledged $500m over five years - " or about 2.3 per cent of its estimated bonus and salary pool for 2009 - " to help 10,000 US small businesses recover from the recession.. Lloyd Blankfein, Goldman's chief executive, told a corporate conference in New York that the bank ...

The U.S. House Financial Services Committee voted on Wednesday to approve a proposal that would empower government regulators to break up large financial firms that threaten economic stability.

A government audit says the Federal Reserve Bank of New York caved in to pressure from major banks when it bailed out the insurance giant AIG last year.

Goldman Sachs Group Inc could have suffered dramatic losses if the federal government had not intervened to prop up American International Group Inc , according to a government report.

AIG Hawaii Insurance Co. said it will change its name to Farmers Insurance Hawaii Inc.

Chinatrust Financial, which lost a bid to acquire American International Group Inc.'s Taiwan life insurance unit, said on Tuesday it agreed to buy a 30% stake of it for $660 million from China Strategic.

Officials managing the multibillion dollar bailout of insurance giant American International Group Inc.

President Barack Obama says the government is committed to a strategy of spending less and saving more.

The United States government's pay czar is facing a dilemma after pay cuts he ordered at seven firms came under fire from both Wall Street executives and the public.