Others, including Britain and the Netherlands, have taken longer. Bankia, Spain's fourth-biggest lender, needed 22.4 billion euros in bail-out funds from Europe and Spain's bank restructuring fund FROB. Britain pumped 66 billion pounds into Royal Bank of Scotland and Lloyds in 2008 and 2009 and provided tens of billions more in liquidity support to the sector.» Read More
Management at American International Group's financial products unit asked its employees to let the unit know by 5 p.m. on Monday if they plan to return all or part of the bonuses they got under an employee retention program, said the Wall Street Journal, citing a person familiar with the matter.
AI G's corporate security advised employees to take measures to increase their safety and security due to "a growing sense of public attention fueled by increased media scrutiny."
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.
Eleven of the AIG employees who were received retention bonuses of $1 million or more are no longer with the company, according to a letter sent from New York Attorney General to Rep. Barney Frank.
Iowa Sen. Charles Grassley suggested that AIG executives should accept responsibility for the collapse of the insurance giant by resigning or killing themselves.
Call it what you will: an act of rebellion; blind myopia; a cry for help … but I'm actually starting to believe in the global recovery story.
With few legal options available, the White House may be forced to add millions of dollars in bonus payments to the outstanding debt owed by American International Group.
At least two dozen US and European banks benefited from the rescue of AIG, with about $50 billion paid out to them since the Fed first gave aid to the insurance giant, the Wall Street Journal reported.
What's good for General Motors is not good for America, and vice versa. I don't object to the government giving GM tens of billions of dollars so it can avoid bankruptcy, or at the very least liquidation.
Wiley just sent me a release announcing plans to publish the book "Bailout Nation: How Easy Money Corrupted Wall Street and Shook the World Economy," by asset manager, economics blogger and media commentator, Barry Ritholtz.
The government's "stress-test" of the nation's largest banks could end up discouraging lending as banks hoard cash to appear healthier.
Fair or not, this week's breakthrough of the Dow lows suggests that the market has run out of patience with Washington and is willing to keep selling until someone comes up with a solution.
Businesses filing for bankruptcy need loans to work out their troubles, or face liquidation. But General Motors and its smaller rival, Chrysler, have threatened that they will need $125 billion, in what would be the largest bankruptcy financing packages ever, if they do not receive the additional federal aid they are requesting.