After about a decade where real wages for most American stagnated and the rich got richer, the public waited until now, with the Western financial system in ruins, to break out the torches and the pitchforks.
Of all the people who are angry at AIG right now, there is one in particular whose anger is at least as great as that of anybody in Congress or the administration but whose voice is one that you haven't heard yet in the uproar over AIG bonuses: Maurice "Hank" Greenberg.
The company can't afford to stay angsty. It has to work hard to stop customers from fleeing, it has to cut costs, and, to placate shareholders, it has to find new areas of growth.
Connecticut's attorney general says the newly revealed number will "further fuel the justified anger and revulsion that people feel."
It's becoming clearer that our way of life is changing irrevocably, and there's more than a little antagonism about who's to blame.
The A.I.G. executive who was nicknamed “Jackpot Jimmy” by a New York tabloid walked up the driveway toward his bay-windowed house in Fairfield, Conn., on Thursday afternoon. "How do I feel?” said the executive, James Haas, repeating the question he had just been asked. “I feel horrible. This has been a complete invasion of privacy," the New York Times reported.
In a stunning development, Sen. Christopher Dodd told CNN that Obama officials asked him to add language to last month's stimulus bill to keep AIG bonuses in place.
American International Group chief executive Edward Liddy faces tough questions Wednesday on Capitol Hill when he will testify before the House Financial Services Committee on how taxpayers' money poured into the insurance giant has been spent.
After a rocky start, stocks barreled higher Tuesday fueled by a surge in techs and a report that showed new home construction unexpectedly jumped in February. Even banks posted strong gains.
Stocks struggled to hold gains Tuesday as investors were encouraged by a report that showed new home construction unexpectedly jumped in February but banks wobbled.
Stocks struggled at the open Tuesday as investors were encouragd by a report that showed new home construction unexpectedly jumped in February but banks wobbled.
Do we really have to foot the bill for those bonuses at the American International Group?
Futures rebounded Tuesday after a report showed new home construction unexpectedly jumped in February.
Stocks went four for four Friday in a dramatic win that delivered stocks their best week since November.
Stocks opened slightly higher Friday amid some much-needed good news from banks.
Futures pointed to a fourth straight session of gains Friday amid some much-needed good news from banks.
New York State Attorney General Andrew Cuomo, Rep. Barney Frank and other lawmakers are discussing a plan to link executive pay to the long-term performance of companies, the Wall Street Journal said.
It's not just bankers who are seeing their once-steady bonuses dry up. Regular Americans who count on their yearly bonus or commission are at a loss now, too.
Credit checks of job applicants, bonus formulas and retirement -- all antiquated ideas in this brave new world.
It is not just Wall Street executives who banked on receiving year-end bonuses to support their lifestyles when the economy was booming, the New York Times reports.