American International Group News

Reporting from Washington - Momentum is growing in the U.S. and abroad to deal with the problem of gigantic financial institutions deemed too big to fail by breaking them up before they can threaten the economy.

Total to Current Members of Congress since 1989: $110.5 million Total Lobbying Expenditures since 1998 : $1.3 billion Risk and uncertainty are as certain as death and taxes.

Several U.S. policy makers consider JPMorgan Chase & Co Chief Executive Jamie Dimon as a potential successor to U.S. Treasury Secretary Timothy Geithner, the New York Post said, citing sources.

Former Republican congressman Rob Simmons , seeking a U.S. Senate seat from Connecticut, called on Treasury Secretary Timothy Geithner to resign over his role in the bailout of insurer American International Group Inc .

Money can't replace charred photo albums and other personal treasures, but several hundred homeowners whose houses burned to the ground in last year's Sayre Fire have pulled an unexpected windfall from the ashes of tragedy.

Maybe we can breathe a collective sigh of relief -- now that we've dodged the bullet of a catastrophic collapse of America's entire financial system.

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.