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Edward Liddy, the embattled CEO of AIG is testifying at a House Financial Services subcommittee hearing this morning. Members of Congress and the Obama Administration are falling over themselves this week to denounce the $165 million in bonuses for top executives at AIG. The corporation in question received $170 billion in bailout funds …

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In speaking to reporters yesterday at the White House, President Barack Obama announced the need for immediate restructuring to save the American auto industry. The President’s statements came a day after he asked General Motors Chief Executive Officer Rick Wagoner to resign. After the auto corporation led by Wagoner failed to submit adequate …

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U.S. Treasury Secretary Timothy Geithner announced yesterday a new one trillion dollar plan to purchase toxic assets from failing banks. According to Geithner, the newest bailout is designed to generate investment; however, Nobel Prize winning economist and New York Times columnist Paul Krugman sharply criticized the plan saying that it will be …

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