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Full Story At money.cnn.com

WASHINGTON (CNNMoney.com) — The top cop tracking the government’s $700 billion bailout program said Tuesday that he has opened 20 criminal investigations and six audits into whether tax dollars are being pilfered or wasted.

Neil Barofsky, the special inspector general overseeing the Troubled Asset Relief Program, released a 250-page report detailing a long list of concerns about government efforts to prop up hundreds of banks, Wall Street firms and auto companies.

Full Story At  CBS News

(CBS) As recently as 2007, a discreet office in the heart of London made a vast fortune for insurance giant AIG.

The man who ran it, 54-year-old American Joseph Cassano, and his team at AIG Financial Products were selling a financial instrument called credit default swaps.

In simplest terms, reports CBS News correspondent Elizabeth Palmer, Cassano and AIG Financial Services sold big banks and brokerage firms insurance against their investments dropping in value.

Now he — and those deals — are being blamed for AIG’s collapse.