AIG Under Fire, The Fed's 'Stunning' Silence, Countrywide's Connections
Do you realize that the actions that you take at AIG . . . may have jeopardized our ability to get a majority of this Congress to support further largess to provide funds to prevent a recession, depression or meltdown?"
— Rep. Paul E. Kanjorski, scolding AIG executive Edward M. Liddy about bonues at a House hearing yesterday (meanwhile, Fannie plans bonuses of its own)
The Fed's 'Stunning' Silence » Federal Reserve officials knew for months about bonuses at American International Group but failed to tell the Obama administration, according to government and company officials, exposing problems in a relationship that is vital to addressing the financial crisis. —Washington Post
Countrywide's Connections » Executives at Countrywide Financial, one of the biggest names of the housing boom, routinely violated internal company policies to provide below-market rates on home loans to the politically connected and powerful, according to a congressional report to be released today. —Washington Post
Madoff Accountant Arrested » The federal investigation into Bernard L. Madoff's $65 billion Ponzi scheme widened Wednesday with the arrest of an accountant who had audited Madoff's investment advisory business for more than a decade. —New York Times
Obama Drops VA Billing Plan » President Obama yesterday abandoned a proposal to bill veterans' private insurance companies for the treatment at VA hospitals of combat-related injuries amid an outcry over the measure from veterans' service organizations and members of Congress. —Washington Post
After the jump...
BEST OF THE REST
» AIG's Bonus Blow-Up: The Essential Q&A (ProPublica)
» SEC Faulted on Short Selling (WaPo)
» Judge Orders Merrill Bonus Details Disclosed (ABC)
» Pentagon to stop forced U.S. tour extension (USAT)
» Durbin Meets With Ethics Panel About Burris (CQ)
» Advocates Fault Lobbying Disclosure System (WaPo)
» Britain To Release Secret Guidelines (WaPo)
» U.K. Finance Watchdog Urges Changes (WaPo)
By Amanda Zamora |
March 19, 2009; 10:14 AM ET
The Daily Read
Previous: Wall Street's Refusal to Learn; New Earmark Rules, Same Problems; Feds Target Madoff's Sons | Next: Madoff the Magus
Please email us to report offensive comments.