To the Point
AIG: Political Outrage and Financial Stability
On Capitol Hill today, it was all about AIG. We hear about millions in executive bonuses, billions in bad debt and proposals for new regulatory authority. Also, Senate Democrats declare their independence.
By Warren Olney • • 1h 0m ListenOn Capitol Hill today, it was all about AIG. We hear about millions in executive bonuses, billions in bad debt and proposals for new regulatory authority. Also, moderate Democrats in the Senate are getting organized to restrain what they call “liberals” in Congress and the Obama White House.
Banner image: Edward Liddy, chairman and CEO of the American International Group participates in a House Financial Services Committee hearing on Capitol Hill. Photo: Chip Somodevilla/Getty Images
In this episode
3 storiesAIG's CEO Faces Congress
President Obama spoke to the public outrage over Wall Street excesses today on his way to town hall meetings in California. The President said he wants a new agency with new regulatory powers. Meantime on Capitol Hill, Edward Liddy, the CEO of the failed insurance giant AIG, testified before a House subcommittee.
Read the story6 minAIG: Political Outrage and Financial Stability
President Obama said today he shares public outrage over bonuses paid to failed executives with public money. Meantime, the head of the failed insurance giant AIG told Congress he would never have approved the contracts that required those bonuses to be paid.
Read the story35 minCentrist Senate Democrats Declare Independence from Obama
In the Congress, the Democratic majority is divided between liberals and moderates, who call themselves Blue Dogs and often vote with Republicans. In the Senate, the party had been more unified.
Read the story8 min
