AIG cutting costs, Bernanke assures senator

Ben Bernanke, the chairman of the Federal Reserve, has moved to soothe Congressional anger over the bailout of American International Group (AIG), saying that the beleaguered insurer had been forced to adhere to strict cost-cutting measures, according to reports.

Reuters, a news agency, reported on Tuesday that Bernanke had sent a letter to John Kerry, a senator, saying that that the insurer had a new employee-expense handbook, a governance committee and strict limits on executive pay. AIG ha

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