March 24, 2009
Posted: 1503 GMT
So AIG executives are starting to return those million-dollar bonuses that caused so much outrage last week. Nine of the ten top bonus recepients have agreed to hand the money back, according to New York attorney General Andrew Cuomo.
The total: $50 million. We'll take it. This isn't 1998. These days, every million counts. Though overseas bonus receptients seem to have politely declined to participate in the big bonus giveback of 2009.
Meantime, U.S. Treasury Secretary Tim Geithner is asking Congress to give him more power if an AIG 2.0 threatens to bring down the American economy again. He wants treasury secretaries to have power to take over financial giants on the verge of collapse and chop them up into pieces to raise cash fast.
We'll be going live to Wall Street for a check of the markets. We've had a few impressive rallies recently. Will we be able to hold onto the gains?
Also, off to Capitol Hill for more on the Geithner testimony and to the White House for a preview of U.S. President Barack Obama's second primetime news conference since taking office.
Some people are starting to wonder if Mister Obama is overexposed. Or perhaps he's using what Roosevelt first called the "Bully Pulpit for a PR rampage that will restore confidence to shattered Americans consumers.
Also on tap today, I'll be interviewing the new Homeland Security Secretary Janet Napolitano on the increase in violence on the Mexico-U.S. border. There have been 6,000 deaths in Mexico in drug turf wars. But most of the guns come from the U.S. And so do most of the drug consumers. I'll aske Napolitano about a new plan to reinforce security in the area.
That and the rest of the day's news.
See you at the International Desk,
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