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Aig Scandal

Neil Barofsky, TARP Watchdog: Criminal Charges Could Be Coming For New York Fed In AIG Scandal

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

The government-appointed watchdog for the government's $700 billion bailout program says that the New York Federal Reserve could be hit with criminal ...

Cuomo: AIG Credit Default Swaps To Be Investigated

bloomberg.com | Karen Freifeld | Posted 05.25.2011 | Business

March 27 (Bloomberg) -- New York Attorney General Andrew Cuomo, building on his investigation of American International Group Inc.'s bonuses, subpoena...

AIG Risk Officers Remain In Place, Despite Disastrous Decisions

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

AIG's risk management team, whose job was to manage credit risk at the giant insurer, remain in place despite their disastrous oversight. At least f...

Pendulum Swings Against Business, Banks, and Bonuses

Tim Berry | Posted 05.25.2011 | Business
Tim Berry

Anybody who hasn't been living in a cave knows how bonuses got a bad name: excess and greed in large business. But what those of us in small business, where a bonus is a reward for a job well done?

The "Populists" Are Right About Wall Street

Thomas Frank | Posted 05.25.2011 | Business
Thomas Frank

How has a popular Democratic president with a convincing electoral mandate failed to translate the opportunities of recent events into the "change" for which voters clamored?

On the Wrong Side of AIG, in Handcuffs

Tony O'Brien | Posted 05.25.2011 | Business
Tony O'Brien

How strange, I thought: the two partners who had worked the hardest to protect the firm's money, who had contacted the FBI and confronted AIG with litigation -- why were we the ones arrested?

Obama Approval Rating Goes UP: CBS News Poll

The Huffington Post | Stuart Whatley | Posted 05.25.2011 | Politics

Despite a wounded economy and public furor aimed at Wall Street, a new CBS poll finds President Obama's approval rating has actually gone up. Sixty-f...

If We 'Kill the Rich', Don't We Kill the Dream?

Vicky Ward | Posted 05.25.2011 | Business
Vicky Ward

New York is the national epicenter of ostentation and consumerism. Now those qualities are considered tasteless. Wealth has become a dirty word.

Take the Steering Wheel out of Geithner's Hands

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

Tim Geithner's actions throughout his career, including his time as Treasury Secretary, are proof that the toxic thinking that got us into this mess is part of his DNA.

AIG Bonus Money is Kid's Play: Literally

Jennifer Delaney | Posted 11.17.2011 | Healthy Living
Jennifer Delaney

If AIG were to donate the 418 bonuses to charity, it would be a brilliant preemptive PR move to neutralize its current out of touch public persona. Here's what the money could provide.

AIU Holdings: AIG Creates New Name To Avoid PR Disaster

Huffington Post | Stuart Whatley | Posted 05.25.2011 | Business

Following up Ryan Grim's report from Congress last week that AIG chief Edward Liddy was looking to change the company's "thoroughly wounded and disgra...

Geithner's Last Stand

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

The indignation over AIG will serve a useful purpose if it focuses public attention on the much larger issue of the failure of the entire approach that Tim Geithner and Larry Summers are using to rescue the banking system.

Spitzer: Relationship Between AIG, Goldman Looks Fishier And Fishier

Slate | Eliot Spitzer | Posted 05.25.2011 | Business

The AIG scandal is getting ever-more disturbing. Goldman Sachs public conference call explaining its trading relationship and exposure with AIG establ...

AIG Underbidding Insurance Rivals and Why We Should Be Really Angry

Don McNay | Posted 05.25.2011 | Business
Don McNay

If AIG loses millions, or billions, in the future due to its "overly aggressive pricing" we are going to be picking up the tab.

Capitalism and Moral Sentiments

Jeffrey Sachs | Posted 05.25.2011 | Business
Jeffrey Sachs

The fascinating thing about this Wall Street greed is that it is so deeply ingrained that neither the bankers themselves nor our economic leadership understands just how disgusting and dangerous it is.

A Real Simple Solution to the AIG Bonus Mess

Andy Ostroy | Posted 05.25.2011 | Politics
Andy Ostroy

Rather than allow these bonuses to remain intact or to take them away outright, how about deferring them until the companies and their troubled business units turn their financial fortunes around?

The Politics of the Populist Moment

David Sirota | Posted 05.25.2011 | Politics
David Sirota

I appeared on ABC's World News Tonight and ABC's Nightline last night about the economic meltdown. You can watch the Nightline clip here. As I've w...

90% Tax? Now, We Really are Screwed

Henry Blodget | Posted 05.25.2011 | Business
Henry Blodget

The frantic passage of the Populist Rage Tax was a new low in the US government's response to this crisis.

Smoking Gun Points to Geithner

Earl Ofari Hutchinson | Posted 05.25.2011 | Politics
Earl Ofari Hutchinson

How long will and should Obama continue to defend Geithner in the face of the smoking gun proof of what he knew about AIG and when he knew it?

Goldman Sachs, Obama, Money

Bob Ostertag | Posted 05.25.2011 | Politics
Bob Ostertag

Have things changed so dramatically that Obama will have room to dump his biggest campaign contributers overboard? That question will be answered in the coming weeks.

Defining Extravagance Up

Jamie Malanowski | Posted 05.25.2011 | Politics
Jamie Malanowski

It's admirable that our leaders now want to be frugal with our money but let's remember what the taxpayers themselves have been buying with money not rendered unto Uncle Sam.

Will the Politicians Give Back Their AIG Bonuses?

Jamie Court | Posted 05.25.2011 | Politics
Jamie Court

Mr. President and members of Congress, it's time to give back AIG's political contributions.

Bernanke Dodges the Bullets

Ann Pettifor | Posted 05.25.2011 | Business
Ann Pettifor

By fueling anger over AIG bonuses, Bernanke is playing a very old game. By aiming at AIG, he is distracting public anger from the Federal Reserve. He is protecting his reputation and legacy.

A Second Act for Spitzer?

James Moore | Posted 05.25.2011 | Politics
James Moore

There is an attorney who can get to the bottom of our current financial crisis and lay the blame and guilt at the foot of the culprits. Eliot Spitzer, phone home.

It's Gut-Check Time

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

Right now Obama is trying to walk on an incredibly narrow line with no safety net beneath, but this is gut-check time: he has to decide which side he's on.