A.I.G. has declined to provide a detailed account of how it has used the Fed’s money. The company said it could not provide more information ahead of its quarterly report, expected next week, the first under new management. The Fed releases a weekly figure, most recently showing that $90 billion of the $123 billion available has been drawn down.Shell announces huge rise in profits
Oil giant Royal Dutch Shell today joined the profits bonanza from record prices with a 71 per cent jump in third-quarter earnings.New York Seeks Details on CEO Pay From Nine Banks
The firm made a mammoth 10.9 billion US dollars (£6.6 billion) between July and September - a period when oil prices hit a peak above 147 dollars a barrel.
New York Attorney General Andrew Cuomo is demanding information about executive compensation and bonuses at nine banks that have received federal funds under TARP, the U.S. Treasury's Troubled Asset Relief Program.
In a letter to each institution's Board of Directors, Cuomo warns the bonuses could violate New York's state fraudulent conveyance law.
"Obviously," he writes, "we will have grave concerns if your expected bonus pool has increased in any way as a result of your receipt or expected receipt of taxpayer funds from TARP."