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AIG sues New York Fed over lawsuit rights

American International Group has filed a lawsuit against an investment structure created by the Federal Reserve Bank of New York to help bailout the insurer, in a bid to sue mortgage debt issuers. According to the complaint filed in the New York State Supreme Court in Manhattan, AIG is seeking…

New York Fed: Student loan debt now over $1 trillion

The Federal Reserve Bank of New York claimed in a published report Wednesday that student loan debt in the U.S. has now surpassed $1 trillion, for the first time ever exceeding the total amount of credit card debt held by Americans. Due to the rising cost of education across the…

Official: Billions missing in Iraq may be ‘largest theft of funds in national history’

Approximately $6.6 billion in cash was likely stolen after being flown to Iraq during the months that followed the U.S.-led invasion, Pentagon officials said recently. Stuart Bowen, the U.S. Special Inspector General for Iraq Reconstruction, told The Los Angeles Times that the sum just might be “the largest theft of…