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Banking leaders who benefited from a federal bailout are bringing a message of accommodation and gratitude to Congress, hoping for a better reception than the one given Treasury Secretary Timothy Geithner.
Lassie was a gorgeous Collie that was Timmy's constant companion. Trouble would befall Timmy in the first half of the show and Lassie would spend the second half saving him. Well, Timmy Geithner is on his own and there ain't no rescue coming.
Bankers will be in the hot seat Wednesday. But the markets could focus again on whether there's a credible plan in the works to rescue the banking system, after the disappointing lack of details in the plan unveiled by Treasury Secretary Timothy Geithner.
The Obama administration's financial-rescue plan contains a number of measures meant to ease the credit crunch, including a public-private initiative to take bad assets off of banks' balance sheets.
President Barack Obama went on the PR offensive against the members of Congress that are not supporting the stimulus package, says Andrew Busch.
The Obama Administration unveiled a comprehensive Financial Stability Plan on Tuesday. Here is a summary of the Treasury's latest bank-rescue plan.
The new financial rescue plan may not work and could even make things worse because it plunges the US further into debt and it is designed by the same people who failed to forecast the crisis and take measures, legendary investor Jim Rogers told CNBC Tuesday.
The Obama administration pushed back the announcement of a keenly awaited bank rescue plan until Tuesday as it pressed lawmakers to settle their differences over a huge economic stimulus package.
The sweeping financial plan to be announced by the Treasury will include an expanded loan facility that will purchase newly issued and newly rated Commercial and private-label Mortgage Backed Securities.
A wide range of measures to ease the credit crunch will be announced Tuesday and they may now include financial aid to several insurance companies, according to a source.
The plan will get "credit flowing again to families and businesses", the government says, and is also expected to include measures to aid financial firms.
The Democratic-led Senate will try again to pass a $937 billion stimulus package aimed at boosting the battered economy as some of the worst unemployment data in decades boosted political pressure for a deal.
The Obama administration plan to be announced Monday envisions a smaller, secondary role for the bad bank concept and will also involve less money than first thought.
President Barack Obama warned that failure to act on an economic recovery package could plunge the nation into a long-lasting recession that might prove irreversible, a fresh call to a recalcitrant Congress to move quickly.
An ex-aide to Commerce Secretary nominee Judd Gregg is under investigation for allegedly taking baseball and hockey tickets from a lobbyist in exchange for legislative favors.
Rep. Gary Ackerman (D-N.Y.) attacked SEC officials testifying before the House Financial Services committee for failing to detect Bernie Madoff’s $50 billion Ponzi scheme on Wednesday.
Tuesday the House dropped a provision from the stimulus bill that would allow film projects in 2009 to qualify for 50 percent write-offs, worth some $250 million in tax breaks.
President Obama kicked off a campaign to rein in corporate compensation with rules limiting executive pay to $500,000 a year for firms getting bailout funds .The following is Obama's speech on executive compensation.
President Obama kicks off a campaign to rein in corporate compensation with rules limiting executive pay to $500,000 a year for companies getting taxpayer bailout funds in the future.
Senior executives for companies receiving TARP money will be limited to annual salaries of $500,000 under executive compensation caps to be announced Wednesday by President Obama.
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