Four Largest Banks Already Incurred $9.8 Billion In Losses, Says Lawmaker

Rep. Paul Kanjorski (D-Pa.) says the four largest commercial banks have already incurred great losses on the loans they have repurchased from Fannie Mae andFreddie Mac. (0:11)

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Dodd's Proposed Consumer Protection Agency Has "Unlimited Scope"

Chris Stinebert, President of the American Financial Services Organization, says that the Consumer Federal Protection Agency, proposed by Senate Banking Committee Chairman Christopher Dodd (D-Conn.), is "unlimited in scope and authority." (0:20)
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Barney Frank: Markup Of Investor Protection Act Will Begin Wednesday

Chairman of the House Financial Services Committee Barney Frank (D-Mass.) says debate and markup of the Investor Protection Act will begin Wednesday. He says he wants to allow plenty of time for this bill to prevent any members using time allowance as an excuse to not vote on the legislation. (0:23)
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Barney Frank: New Derivatives Bill Will Encourage Big Banks To Join In Market Exchange

House Financial Services Committee Chairman Barney Frank (D-Mass.) says if the combined derivatives bill becomes a law it will encourage large financial institutions to join into an exchange market. He says the AIG situation, where derivative trading caused problems, will be covered under their bill. (0:32)
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Federal Bank Regulators Not Doing Their Job Says Frank

House Financial Services Committee Chairman Rep. Barney Frank (D-Mass.) discusses how federal bank regulators have not been fulfilling their responsibilities to consumers. (0:33)
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Housing Reform Needed To Help Poor Americans, Says HUD Secretary

HUD Secretary Shaun Donovan says Congress should work on passing comprehensive housing reform that would offer more low-income American families a chance of renting or owning homes. (0:26)
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Ackerman makes a joke at House Financial Services hearing on AIG

By Kayleigh Harvey - Talk Radio News Service

Congressman Gary Ackerman (D-NY) makes a joke comparing AIG to 'I can't believe it's not butter', at House Financial Services Committee.
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AIG Chairman Testifies To House Financial Services Committee

By Kayleigh Harvey - Talk Radio News Service

Edward Liddy, Chairman and Chief Executive Officer for American International Group was given unlimited time to deliver his opening statement to the House Financial Services Committee Subcommittee hearing on "American International Group's Impact on the Global Economy: Before, During and After Federal Intervention."

“We have heard the American people loudly and clearly these last few days…We have asked those who received bonuses in excess of $100,000 to return at least half of those payments…some have offered to pay back 100 per cent of those payments,” Liddy added.


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Kanjorski tells Liddy: "I warned you"

By Kayleigh Harvey - Talk Radio News Service

Chairman of the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprise, Paul Kanjorski made this comment to Mr. Edward Liddy, Chairman and Chief Executive Officer for American International Group, today at the House Financial Service Committee on AIG bonuses.
Kanjorski also noted: "Mr. Liddy is not a person that is being paid anything for the CEO position he occupies at AIG".
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Ford is streamlining to regain its success

Alan Mulally, President and CEO of the Ford Motor Company, talks about the problems that Ford made and the changes in the company's business model to become successful once again. (2:31)
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