American International Group has planned to transfer American International Assurance Co. and American Life Insurance Co to the Federal Reserve Bank Of New York.

Conflicting reports about the American International Group (AIG) Chief Executive Officer Robert Benmosche's next move in response to the government's seemingly tightly-woven strings wrapped around the beleaguered institution

For the average taxpayer, it is difficult to comprehend how such large sums of money can still make it into the hands of those who do not deserve it at all, and in a way, even helped to create this financial crisis in the first place. While perhaps hundreds joined the ranks of millions of jobless Americans or those in danger of losing their homes last weekend, a select group of people on the other hand, 73 of them to be exact, received at least $1 million in bonuses.

While a number of government officials still would like to avoid using the seemingly taboo "R" word (recession) in referring to the state of the US economy, a number of factors would otherwise indicate that in fact, it has been in that condition for almost a year now, without showing any signs of letting up. Plummeting stocks, rising unemployment, investment houses, once thought to be bastions of high finance, closing shop one after another, and a general feeling of alarm among the American people only support the inescapable fact that indeed, the US is facing an economic crisis such that has not been known since the Great Depression in the 1930’s.