The Treasury secretary’s plan aims to rein in the industry’s boom-bust cycle and soothe Europe ahead of the G-20 summit.
Members of both parties are mad at the insurance giant. But big questions remain over what they can do about it.
Edward Liddy is praised by some lawmakers for taking on a tough task. But others excoriate him for large payments to those who helped bring down the company.
Lawmakers agree that big financial institutions are in trouble. But they want more help for their constituents.
They tried to reassure Congress and regain the trust of an angry public on Wednesday.