Here Comes Trouble: Stories from My Life

"Outstanding…Moore Triumphs! Publishers Weekly

Articles tagged with: “American International Group”

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March 17th, 2009

US Senator: AIG execs should consider suicide

WASHINGTON (AFP) — A prominent US Senator has suggested that top executives of the bailed-out insurer AIG ought to quit or kill themselves, which he described as the Japanese model of honorably taking responsibility. Senator Charles Grassley, the top Republican on the Senate Finance Committee, told a radio station in ... continue reading

March 14th, 2009

The Looting of America's Coffers

By David Leonhardt / New York Times Sixteen years ago, two economists published a research paper with a delightfully simple title: "Looting." The economists were George Akerlof, who would later win a Nobel Prize, and Paul Romer, the renowned expert on economic growth. In the paper, they argued that several ... continue reading

March 9th, 2009

A.I.G., Where Taxpayers' Dollars Go to Die

By Gretchen Mortgenson / New York Times "Derivatives are dangerous." That simple sentence, written by Warren Buffett, begins an enlightening discussion in Berkshire Hathaway's most recent annual report. Mr. Buffett's views on derivatives, gleaned from his own unhappy encounters with them, should be required reading for all United States taxpayers. ... continue reading

March 9th, 2009

Fed Refuses to Release Bank Data, Insists on Secrecy

By Mark Pittman and Craig Torres March 5 (Bloomberg) -- The Federal Reserve Board of Governors receives daily reports on bailout loans to financial institutions and won't make the information public, the central bank said in a reply to a Bloomberg News lawsuit. The Fed refused yesterday to disclose the ... continue reading

March 8th, 2009

Food Problems Elude Private Inspectors

By Michael Moos and Andrew Martin / New York Times When food industry giants like Kellogg want to ensure that American consumers are being protected from contaminated products, they rely on private inspectors like Eugene A. Hatfield. So last spring Mr. Hatfield headed to the Peanut Corporation of America plant ... continue reading

March 8th, 2009

Top U.S., European Banks Got $50 Billion in AIG Aid

By Serena Ng and Carrick Mollenkamp / Wall Street Journal The beneficiaries of the government's bailout of American International Group Inc. include at least two dozen U.S. and foreign financial institutions that have been paid roughly $50 billion since the Federal Reserve first extended aid to the insurance giant. Among ... continue reading

March 3rd, 2009

Bernanke grilled on latest $30B bailout of AIG

By Jeannine Aversa / Associated Press WASHINGTON – Irritated lawmakers grilled Federal Reserve Chairman Ben Bernanke Tuesday over the latest bailout of American International Group, even as the Fed chief warned that an economic recovery hinges on the government's success in stabilizing shaky financial markets and their major players. "I ... continue reading

February 24th, 2009

U.S. Is Pressed to Add Billions to Bailouts

by Edmund L. Andrews, Andrew Ross Sorkin and Mary Williams Walsh / New York Times The government faced mounting pressure on Monday to put billions more in some of the nation's biggest banks, two of the biggest automakers and the biggest insurance company, despite the billions it has already committed ... continue reading

February 22nd, 2009

After Losses, a Move to Reclaim Executives' Pay

By Gretchen Morgenson / New York Times SHOULD executives get to keep lavish pay packages when the profits that generated their compensation go up in smoke? As the financial crisis deepens, what might have been a philosophical question is now the topic of the day. With losses mounting at the ... continue reading

February 6th, 2009

Treasury Overpaid for Bank Assets in Bailout, Oversight Panel Says

By Amit R. Paley / Washington Post The Bush administration received assets that were worth $78 billion less than the amount it invested as part of the massive infusion of capital into the country's banks, congressional investigators have found. The investigators concluded that the Treasury under the federal bailout had ... continue reading

January 25th, 2009

Firms That Got Bailout Money Keep Lobbying

By David K. Kirkpatrick and Charlie Savage / New York Times WASHINGTON — The financial giant Bank of America says it is no longer lobbying the federal government about its unfolding bank bailout. After receiving $45 billion in bailout money, lobbying was just too unseemly. "We are very sensitive to ... continue reading

January 16th, 2009

Report Finds Major U.S. Companies Have Offshore Tax Havens

By Carol D. Leonnig / Washington Post A majority of America's largest publicly traded companies and the U.S. government's largest federal contractors -- including some receiving millions in federal bailout money -- use multiple subsidiaries in offshore tax havens to conduct business and avoid paying U.S. taxes, a new report ... continue reading

January 9th, 2009

Nationwide Inquiry on Bids for Municipal Bonds

By Mary Williams Walsh / New York Times The federal investigation that prompted Gov. Bill Richardson of New Mexico to withdraw his nomination as commerce secretary offers a rare glimpse into a long-simmering investigation of possible bid-rigging, tax evasion and other wrongdoing throughout the municipal bond business. Three federal agencies ... continue reading

December 20th, 2008

White House Philosophy Stoked Mortgage Bonfire

By Jo Becker, Sheryl Gay Stolberg and Stephen Labaton / New York Times "We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home." — President Bush, Oct. ... continue reading

November 28th, 2008

Ford resists pressure to cut CEO's pay

Wall Street Journal Ford Motor Co. is so far resisting pressure to cut the salary of its chief executive despite increasing scrutiny of top management at all three Detroit automakers seeking emergency help from the federal government. In a statement Wednesday, Ford said that its board of directors' compensation committee ... continue reading

November 24th, 2008

U.S. rescues giant Citigroup

The plan involves a $20-billion infusion and guarantees on hundreds of billions in bad loans. By Peter G. Gosselin / Los Angeles Times The federal government rushed to the aid of faltering banking giant Citigroup Inc. late Sunday night, agreeing to invest $20 billion more and accept the lion's share ... continue reading

November 24th, 2008

Obama Unveils Team to Tackle 'Historic' Crisis in Economy

By Jeff Zeleny / New York Times CHICAGO — With the financial crisis looming as a priority of his term, President-elect Barack Obama sought to put his imprint on efforts to stem the turmoil as he introduced his economic team on Monday, nominating Timothy F. Geithner as Treasury secretary and ... continue reading

November 24th, 2008

U.S. Offers Citigroup Expansive Safety Net

Aim Is to Restore Confidence in Critical Bank By Neil Irwin and David Cho / Washington Post The government said last night that it will provide a multibillion-dollar backstop for Citigroup, revamping emergency efforts yet again to head off the failure of a company more deeply intertwined with the financial ... continue reading

October 8th, 2008

McCain, Obama clash over economic crisis

By Charles Babington / Associated Press NASHVILLE, Tenn. - Barack Obama and John McCain clashed repeatedly over the causes and cures for the worst economic crisis in 80 years Tuesday night in a debate in which Republican McCain called for sweeping action by the government to directly shield many homeowners ... continue reading

October 3rd, 2008

POWs feel affinity with McCain, but won't let it affect their votes

Some former war prisoners say that having been a POW does not qualify a person to be president. By Rob Johnson / Roanoke Times The admiration that former prisoners of war who live in Western Virginia have for Sen. John McCain runs deep. But their esteem does not translate into ... continue reading

April 3rd, 2006

Exxon Dethrones Wal-Mart on Fortune 500

By J.W. Elphinstone / Associated Press NEW YORK - Skyrocketing energy prices propelled Exxon Mobil Corp. to the top of the 2006 Fortune 500 list, and consigned Wal-Mart Stores Inc. to the No. 2 spot on the magazine's annual ranking of the nation's largest publicly traded companies. Fortune compiled its ... continue reading

March 2nd, 2005

Stocks Finish Lower as Oil Price Spikes

By Megan Davies / Reuters U.S. stocks fell on Wednesday as spiking oil prices reawakened concerns about increased corporate costs, but investors took reassurance from remarks by Federal Reserve Chairman Alan Greenspan that signaled no change in interest-rate policy. U.S. crude oil futures surged above $53 a barrel, a four-month ... continue reading

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George W. Bush Debuts New Paintings Of Dogs, Friends, Ghost Of Iraqi Child That Follows Him... President Bush has a new hobby -- painting! --...

Apr 17th
7:28 PM
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Big new story from David Sirota and Pando on top Christie adviser and appearance of corruption at New Jersey's pension fund: REVEALED: Gov....

Apr 17th
12:41 PM
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FBI Uncovers Al-Qaeda Plot To Just Sit Back And Enjoy Collapse Of United States WASHINGTON—The FBI announced today that it has uncovered a...

Apr 15th
3:28 PM
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Revealed: Rahm Emanuel's top donor bought stock in Marriott just before it was awarded huge contract As schools are closed and pensions cut,...

Apr 9th
2:00 PM
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I'll be at First Time Fest today in New York City at the screening of my first film, Roger & Me. Loews Village 7 at 12:30 pm. Come see it on the big...

Apr 5th
9:48 AM
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Revealed: Rahm Emanuel cuts public pensions, diverts money to benefit campaign donors If you've read the financial news out of Chicago the last...

Apr 4th
2:19 PM
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Please take a moment today to think of Casey Austin Sheehan, son of Cindy and Patrick, who was murdered by U.S. foreign policy in Sadr City, Baghdad ten years...

Apr 4th
2:00 PM
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ICYMI - I've joined this "thunderclap" to support the Connecticut legislators who voted yes on last year's Act Concerning Gun Violence...

Apr 3rd
7:38 PM
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I've joined this "thunderclap" to support the Connecticut legislators who voted yes on last year's Act Concerning Gun Violence Prevention...

Apr 2nd
8:27 PM
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I am opposed to the death penalty, but to every rule there is usually an exception, and in this case I hope the criminals at General Motors will be arrested...

Apr 1st
3:55 PM
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How Long Some in the US Will Survive Under New Health Law Donna Smith Those who must access care to live and can afford it are not...

Mar 31st
10:13 PM
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Last night, The Good Wife on the East Coast started 40 minutes late due to the overrun of the NCAA basketball game. If you had your DVR set for the show, you...

Mar 24th
5:41 PM
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Watching films today, looking for the ones I'm going to pick for my film festival this summer. I (and a whole bunch of others!) have this thing we put on...

Mar 23rd
4:48 PM
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When the U.S. Health Care System Keeps Killing, Who Cares Enough to Fight? Donna Smith We have largely forgotten that people are at...

Mar 21st
5:56 PM
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Tell the White House not to give up on Dr. Vivek Murthy's nomination as Surgeon General despite the ferocious opposition from the NRA: Don't give...

Mar 21st
5:38 PM
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This criminal would never see a jail cell, nor would his cronies. In fact, they'd later be rewarded with re-election: Presidential Address on War with...

Mar 19th
9:40 PM
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The crime of the century -- our invasion & slaughter in Iraq -- started 11 years ago tonite in this 7pm (ET) hour, March 19th, 2003: CNN Coverage of...

Mar 19th
9:08 PM
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Washington’s Back-to-the-Future Military Policies in Africa Nick Turse Nick Turse is an award-winning journalist, historian,...

Mar 17th
4:59 PM
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"I think democracy is the most revolutionary thing in the world." -- Tony Benn, 1925-2014 Tony Benn in 'Sicko'

Mar 14th
10:07 AM
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RIP Tony Benn, one of the UK's greatest leaders: Tony Benn, veteran Labour politician, dies aged 88 Former cabinet minister died at...

Mar 14th
9:53 AM
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Please read this important story from K. Ford K.: Am I the Face of the New American Middle Class? I began to feel I had slipped so low...

Mar 13th
2:24 PM
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Yesterday Dianne Feinstein revealed that the CIA has been spying on the Senate Intelligence Committee. This is all about the report the committee has produced...

Mar 12th
6:48 PM
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Health Care for All Colorado has brought Mercy Killers, a show written and performed by Michael Milligan about our murderous for-profit healthcare system, to...

Mar 10th
1:08 PM
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Health Care Dramas that Sting and Why We Have to Watch Donna Smith The realities Milligan has written into the show cut deep into...

Mar 10th
1:02 PM
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Did you know the Lehrer Newshour on PBS has been produced for 20 years by a company owned by conservative cable billionaire John Malone? Me neither. After...

Mar 7th
8:39 PM
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Mr. Obama, if int’l law is so damn crucial . . . | The Russian intervention deserves criticism. But let’s be clear. The...

Mar 6th
1:21 PM
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Enron billionaire John Arnold thinks everyone should believe him when he says we've got to cut pensions because he's so incredibly rich: John...

Mar 5th
4:20 PM
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More in David Sirota's continuing series on the billionaire takeover of PBS: More PBS conflict woes as activists move to eject David Koch from board of...

Mar 3rd
12:35 PM
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Ukraine: One ‘Regime Change’ Too Many? Ray McGovern Is “regime change” in Ukraine the bridge too far for the neoconservative...

Mar 2nd
9:25 PM
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