Being an executive at a "too big to fail" company has its perks. After U.S. taxpayers rescued AIG, General Motors and Ally Financial, many of the individuals responsible for botching business plans and bringing those major corporations to the brink of bankruptcy enjoyed fat paychecks and bonuses.
Facing a certain backlash from Washington and beyond, American International Group won't be joining a $25 billion shareholder lawsuit against the U.S. government over the terms of its bailout at the height of the financial crisis.
American International Group Inc. said Tuesday its board of directors will weigh whether to take part in a shareholder lawsuit against the U.S. over the government's $182 billion bailout of the insurer.
Stocks rose for a fifth straight day Tuesday as investors latched on to reports of progress in budget talks in Washington. The Standard & Poor's 500 index had its biggest gain this month.
Ed Henry's assignment covering the White House would be a challenge for any journalist, no matter his employer.
On Nov. 6, Americans chose President Obama over GOP presidential candidate Mitt Romney. If Mr. Obama's second term turns out to be anything like his first, the voters will quickly come to regret that decision.
Enthusiasm about a solid October jobs report quickly faded on Wall Street Friday. Stocks drifted lower as companies began to assess the potential cost of Superstorm Sandy.
Officials at Egypt's main international airport were reducing a backlog of delayed flights and trying to placate angry passengers on Sunday, after two days of strikes left planes grounded and some travelers stranded.
Several regulators have called recently for drastic changes in the money-market mutual-fund industry. Proposed "reforms" include abolishing the industry by getting rid of the stable $1 net asset value that is the essence of the product and requiring costly "capital buffers" that would tax investors far beyond any realistic estimates of risk.
