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Insurance brokerage fee income at banks hit $3.05 billion for the third quarter of 2009, the highest level in the last 5 quarters, according to the data compiled by Michael White Associates LLC.

Good news in today's economy is welcome in almost any form. Some days, just maintaining the status quo is a reason to cheer.

Had the U.S. government not taken action to bail out AIG, it would have proven to be an economic catastrophe for the nation, said Treasury Secretary Timothy Geithner and his predecessor, Henry Paulson.

Former Treasury Secretary Henry Paulson and current Secretary Timothy Geithner both told a congressional committee that if action was not taken to bail out American International Group it would have been a catastrophe for the nation.

Former Treasury Secretary Henry Paulson and current Secretary Timothy Geithner both told a skeptical congressional committee today that if U.S. action was not taken to bail out AIG, Group it would have been a catastrophe for the nation.

Bank insurance brokerage fee income rose close to 12 percent in the third quarter of 2009 compared with the same period the year before, according to a consulting company.

Legislation giving the federal government broad authority to deal with troubled financial institutions--including insurers--passed the House Financial Services Committee last week on a tight 31-27 vote.

Legislation giving the government broad authority to deal with troubled financial institutions, including insurers, passed the House Financial Services Committee.