Bailouts, Bank Bailout | featured news

The Obama administration sought to reduce the bonuses, but the insurer, which received more than $170 billion in aid, said it was obligated to pay them.

Freddie Mac, facing mounting damage from the U.S. housing crisis, said Wednesday it will ask the government for nearly $31 billion in additional aid after posting a gargantuan loss of more than $50 billion last year.

Bernanke accuses company of exploiting gaps in the system, says government 'had no choice' on bailout.

U.S. stock markets plunged by 4 percent to close at the lowest levels in nearly 12 years, igniting fresh concern over the depth of the financial crisis and where the bear market would find a bottom.

The federal government agreed Monday to provide an additional $30 billion in taxpayer money to the insurer, even as it reported the biggest quarterly loss in history.

American International Group Inc's board approved the latest overhaul of a U.S. government rescue on Sunday that includes $30 billion in new equity and other measures aimed at bolstering the struggling insurer, according to a source familiar with the matter.

American International Group Inc is close to a deal with the U.S. government that would ease the terms of its bailout, provide a further equity commitment and help it pay down debt, a person familiar with the matter said on Saturday.

Wall Street is down sharply lower as investors second-guess Citigroup Inc.'s plans to turn over a big piece of itself to the government.

The New York Attorney General's office has subpoenaed Bank of America to submit a list of employees who got bonuses and the amounts that the employees received, a spokesman for the New York Attorney General said on Thursday.

Loss included $25.2B in fourth quarter, prompting a government cash injection of $15 billion.