President Obama ordered treasury secretary Timothy Geithner Monday to take all legal action needed to stop the payment of nearly $165 million in bonuses handed out by AIG to its executives, according to IHT.

AIG, the global insurance giant that has fallen on hard economic times to say the least, has informed Manchester United of the English Premiere League that they will not be renewing their sponsorship. The four-year, $100 million deal expires May 2010 and AIG says they are already trying to re-work that last year.
“In October, AIG [...]

The following is a statement released by the Federal Reserve Tuesday regarding American International Group Inc:
The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) under Section 13(3) of the Federal [...]

In an unexpected move, the Federal Reserve Bank of New York will loan nearly $85 billion to mortgage giant American International Group, effectively rescuing them from bankruptcy.