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AIG CEO's Congressional Testimony

Here's Wednesday testimony by Mr. Edward M. Liddy, Chairman and Chief Executive Officer, American International Group before the House Financial Services Subcommittee on Capital Markets, Insurance and Government-sponsored Enterprises:

AIG Bonus Latest - Staff Asked To Return Bonuses

AIG CEO Edward Liddy (you know, the guy who's working for $1-a-year, and who came in to protect the US taxpayer and sort out the mess) was hauled before a House of Representatives subcommittee Wednesday. His pleas for understanding that the $165m paid in retention bonuses to a group of staff tasked with unwinding $2.7 trillion in complex securities, however, fell mostly on deaf ears.

Exclusive - List Of Merrill $1m+ Bonus Bankers

As a US judge ponders the request by New York State Attorney General Andrew Cuomo to publicly release the names of Merrill Lynch's top 200 2008 bonus earners, Here Is The City can exclusively reveal the names of several more of those bankers.

Top Firm Said Cutting 5,000 'Management' Positions

UBS Logo

Just a few days after new UBS CEO Oswald Gruebel hinted to staff that there probably would need to be another round of cost-cutting, Swiss weekly newspaper SonntagsZeitung says that the firm is to purge 5,000 senior jobs, including 2,500 'management' positions in the bank's wealth businesses.

Barclays, Deutsche, Goldman, Merrill, AIG, HSBC, BNY Mellon

The Daily Telegraph reports that Barclays is likely to 'press the button' on a series of asset sales, which could include the disposal of Barclays Global Investors, which is thought to be worth some $7bn. At the very least, the unit's exchange-traded funds business, iShares, looks like being shopped, as JPMorgan Cazenove is said to have been appointed to look at a possible sale.