An American International Group Inc. unit sued Countrywide Financial Corp., accusing the mortgage lender of misrepresenting the underwriting standards of loans the AIG subsidiary insured. “As a result of the unprecedented number of defaults in the mortgage loans, United Guaranty has ... [full story]

The U.S. insurance industry should be subject to federal regulation, the chief executive of Allstate Corp (ALL.N: Quote, Profile, Research, Stock Buzz), the nation's largest publicly traded home and auto insurer, said on Wednesday. Tom Wilson told the U.S. Chamber of ... [full story]

U.S. billionaire investor Warren Buffett: "Not only has the economy slowed down a lot, but people have really changed their habits like I haven't seen." OMAHA, Neb. ��" Billionaire Warren Buffett said unemployment will likely climb a lot higher depending ... [full story]

ASHLAND, Ky. (AP) — Anti-tobacco lawyer Richard "Dickie" Scruggs has reported to a federal prison in eastern Kentucky. Prison spokesman Larry E. Whitman says Scruggs entered a federal prison in Ashland at 11 a.m. EDT on Monday. He is beginning a ... [full story]