Congress is resurfacing its outrage over AIG's bonuses after a report detailed the vast scope and scale of the troubled insurer's executive compensation plan.
AIG's new boss will make an annual salary of $3 million and receive bonuses and stock options worth millions more, according to a company filing on Monday.
Mary Theriault has been in the hospital more than a dozen times for her emphysema, but the last time she was rushed to the emergency room, doctors didn't think she'd go home.
Former AIG Chief Executive Maurice "Hank" Greenberg, blaming his successors for the mistakes that led to the company's failure, told Congress Thursday that the government's plan to unwind the giant insurer is not working and threatens its ability to pay back the billions it has received in taxpayer funds.
A key Democratic lawmaker called Tuesday for the resignation of American International Group's CEO after the troubled insurer held a financial planners conference last week at a posh Arizona resort.
The political uproar over AIG spending $440,000 on a beach retreat for its top agents - right on the heels of the insurance giant getting a taxpayer-funded bailout - may mark the beginning of the end for Wall Street's culture of excess.
A House committee chairman blasted former chiefs of American International Group Inc. on Tuesday, blaming their huge paychecks and the company's lavish style for the federal government's $85 billion bailout of the insurer.
Congress is resurfacing its outrage over AIG's bonuses after a report detailed the vast scope and scale of the troubled insurer's executive compensation plan.
AIG's new boss will make an annual salary of $3 million and receive bonuses and stock options worth millions more, according to a company filing on Monday.
Mary Theriault has been in the hospital more than a dozen times for her emphysema, but the last time she was rushed to the emergency room, doctors didn't think she'd go home.
Former AIG Chief Executive Maurice "Hank" Greenberg, blaming his successors for the mistakes that led to the company's failure, told Congress Thursday that the government's plan to unwind the giant insurer is not working and threatens its ability to pay back the billions it has received in taxpayer funds.
A key Democratic lawmaker called Tuesday for the resignation of American International Group's CEO after the troubled insurer held a financial planners conference last week at a posh Arizona resort.
The political uproar over AIG spending $440,000 on a beach retreat for its top agents - right on the heels of the insurance giant getting a taxpayer-funded bailout - may mark the beginning of the end for Wall Street's culture of excess.
A House committee chairman blasted former chiefs of American International Group Inc. on Tuesday, blaming their huge paychecks and the company's lavish style for the federal government's $85 billion bailout of the insurer.
After two weeks of contentious and often emotional debate, the federal government's far-reaching and historic plan to bail out the nation's financial system was signed into law by President Bush on Friday afternoon.
A federal airline safety inspector choked up Thursday as he described what he said were threats made against him and his family when he tried to report Southwest Airlines was flying "unsafe" planes.
A trio of high-profile CEOs defended their oversized pay packages to Congress on Friday, even as their companies and shareholders lost billions of dollars as a result of the ongoing mortgage crisis.
Though stumbling on a couple of questions and leaving several others unanswered, Roger Clemens nonetheless emerged favorably from Wednesday's hearing before the House Committee on Oversight and Government Reform. Keep in mind, Clemens' primary goal was not to preserve or rehabilitate his baseball reputation or even to convince the legions of fans who disbelieve him -- as others have written, he may have failed miserably on those ends -- but rather to avoid perjury charges. Unless verifiable physical evidences emerges to the contrary, it seems unlikely the available evidence would lead to a conclusive finding that he committed perjury. Here's why, along with other observations:
It was a day of misremembering, misunderstanding, and mystifying inconsistencies, and, in the end, committee members' conclusions about whether or not Roger Clemens used steroids and human growth hormone seemed to hang on how credible Andy Pettitte is, or how credible Brian McNamee isn't.
Sports Illustrated senior writer Tom Verducci joined in SI.com's live blog of Wednesday's Congressional hearings featuring Roger Clemens and Brian McNamee. Below are excerpts from Verducci's commentary as the hearings unfolded.
Editor's Note: Richard Deitsch is blogging live during today's congressional hearing in Washington, D.C., which includes testimony from Roger Clemens, Brian McNamee and Charles Scheeler, a partner with George Mitchell's law firm, DLA Piper. SI's David Epstein is at the hearing and will offer periodic first-hand accounts. Senior writers Tom Verducci and Jon Heyman will also weigh in. And you should feel free to add your observations.
It appears from his one-on-one meetings with members of Congress that Roger Clemens will be sticking to his guns when he goes before the congressional Committee on Oversight and Government Reform on Feb. 13.
With Chuck Knoblauch having agreed to meet with the congressional Committee on Oversight and Government Reform, the full batting order is set for the Feb. 13 congressional hearing. On Wednesday, Andy Pettitte will meet privately with committee staff members, with Roger Clemens, Brian McNamee, Knoblauch and Kirk Radomski heading to Washington D.C. in the following days.
It's hard to gauge the impact that the playing of a 17-minute, recorded phone conversation between Roger Clemens and Brian McNamee during Clemens' press conference on Jan. 7 had on public opinion. But it doesn't seem to have impressed members of the House Committee on Oversight and Government Reform who will hear testimony from the two men next month. SI.com interviews with seven committee members suggest that the Congressmen and women who will be grilling Clemens and McNamee found the recording, at best, to yield little informational value. At worst, they saw it as tasteless.
When Bud Selig and Don Fehr once again face up to Congress next week, the occasion won't hold anywhere near the drama and intrigue that next month's high-stakes, finger-pointing, lawyered-up Capitol Hill showdown between pitching great Roger Clemens and his one-time trainer, Brian McNamee, promises.
The head of the U.S. Coast Guard and a congressman planned to travel to the Coast Guard Academy on Thursday to speak to cadets about the discovery this summer of two small hangman's nooses on Coast Guard properties.
A meeting between independent presidential candidate Ralph Nader and members of the Congressional Black Caucus turned into a shouting match Tuesday, after Nader made it clear that he would not drop out of the race.
Democratic Rep. Charles Rangel of New York said Sunday the United States is just as responsible for President Jean-Bertrand Aristide's ouster as the rebels who forced him from office.
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