In a report last week, the General Accounting Office advised Treasury to withhold $30 billion from American International Group until the company agrees to renegotiate contracts with employees and final counterparties.

Competing U.S. and Bermuda insurance interests have been ramping up lobbying efforts over a proposed tax code change that would impact Bermudian carriers U.S. profits.

Former American International Group Chief Executive Officer Maurice Greenberg arrived on Capitol Hill last week to tell a House panel how the government should fix AIG, but heard a congressman call him the wrong witness because of his own legal problems.

Last week, the chairs of key Senate and House committees promised President Obama they will work together to have legislation on his desk by year's end creating a "new, more robust regulatory framework" for financial services firms.

Proceeding as planned and selling the company at this time "would bring the government only pennies on the dollar for their investment in AIG," Greenberg, the former chairman of AIG, New York,

Legislation was introduced in both the House and Senate yesterday aimed at expanding limits on heavy trucks' access to major roads.

A key congressman asked U.S. banking officials to investigate whether foreign institutions received preferential treatment by having their counterparty claims against AIG paid off while U.S. banks were asked to accept pennies on the dollar.

Former American International Group Chief Executive Officer Maurice Greenberg arrived here to tell a House panel how the government should fix AIG and heard a congressman call him the wrong witness because of his legal problems.