WASHINGTON, Dec 5- The United States urged Europe and Asia to match its efforts to make the financial industry safer, saying on Thursday it likely had done enough to ensure taxpayers will not have to bail out banks again in future crises.» Read More
One Manhattan dry cleaner is offering an unconventional unemployment benefit: If you don't have a job and need an outfit for an interview, he'll dry clean it for free.
With other central banks acting to create money out of thin air because they cannot lower short-term interest rates any further, the ECB remains wary of the specter of inflation.
Stocks ended a choppy session sharply lower Tuesday as investors regrouped after the prior session's blockbuster rally.
Stocks retreated Tuesday, despite good news continuing from the banking sector, as investors took a breather after Monday's surge.
US stock index futures pointed to a lower open for Wall Street Tuesday after Monday's rally, despite good news continuing from the banking sector, with fears over the health of the world economy resurfacing and investors locking in some gains after the previous session's jump.
"You cannot fight this intervention," says one market pro. "When you start to see the market just climb after weeks and months of being sold out, you have to participate."
Amidst the public outcry over compensation for AIG employees, some key facts have been obscured or overlooked. And the perspective of employees, including the AIG employees, seems to be missing from the discussion.
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.