AIG Crisis Probed as Regulators Scrutinize Risk Failures
Washington AP reports congressional investigators probing AIG say executives hid risky practices in the Financial Products division from auditors while losses grew. Oversight warns of lack of independence, access, and control, with bailouts and stock buybacks shaping the crisis.
MENTIONED IN THIS ARTICLE
AIG
U.S
House Oversight Committee
Henry Waxman
Dcalif
Maurice
Hank” Greenberg
Karen Lightfoot
Greenberg
Federal Reserve
Lehman Brothers
Congressional
Fed
Congress
Robert B. Willumstad
Treasury
Henry Paulson
Paulson
Neel Kashkari
Power shutoffs rise as economy sags nationwide
In a weak economy, shutoffs for nonpayment soar across many states with New York reporting 17 percent higher disconnections and Michigan 22 percent. Regulators note increased strain from fuel costs, while utilities offer payment plans and weatherization aid amid rising hardship.
MENTIONED IN THIS ARTICLE
Cohoes
N.Y
New York State
Michigan
Pennsylvania
Florida
California
Associated Press
Wall Street
Marie Williams
Hudson River
Southern California Edison Co
Westar Energy Inc
Topeka
Tampa Electric Co
Toledo
Ohio
New York
Long Island
Kalamazoo-area
Congress
Connecticut
Maine
Detroit
DTE Energy
Heat and Warmth Fund
Fed eyes plan to fund short term loans to ease credit
Washington plans a bold federal effort to buy unsecured commercial paper to relieve a credit freeze harming the economy. The Fed and Treasury consider creating a backstop and potentially a separate entity to support nonfinancial borrowers, while markets react to Wall Street losses and massive liquidity injections totaling up to 900 billion dollars.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Treasury Department
Fed
Also Mentioned on This Page
Mark Wolfe
National Energy Assistance Directors’ Association
Boston
Jaqueta Oliver
Richelle
Williams
Fedeyes
United States
Finney County Transit
Ceniorcentear
Uth
Garden City
Corsi
Evita
Jolden Plains Credit Union
ACTA
E. Kansas Ave
Gpcu.org
Kansas
Jan Ies Saav
Tag
Catherirne ‘Hospital
Women’s Clinic
Main Garden City
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