Setting the pace on bonuses, reform

Setting the pace on bonuses, reform

Reuters was a first with news on March 17 that the Treasury would require AIG to repay U.S. taxpayers for the executive bonuses. Reuters was ahead of Dow Jones and Bloomberg on a hugely political story that has chilled private investor appetite to work the government on its toxic asset cleanup programme. The beat was followed by clients learning exclusively on March 18 about the White House’s plans for financial regulatory reform. Reuters worked sources to get details on how President Obama`s two main goals were establishing a systemic risk regulator and creating new government powers to unwind failing financial institutions outside the bank sector, such as insurance giant AIG. Competitors were chasing the story, which was carried widely on major news websites, business television and even the London Stock Exchange. Reuters followed up that scoop on March 23 with news that a key House committee was drawing up legislation on powers to wind down failed firms and it may come to a vote within days.