This past week saw important steps in the effort to combat offshore tax avoidance, a Treasury official explains.» Read More
You know that theory that financial Armageddon was upon us and that another Great Depression was on the way? Not anymore.
The financials were up on Wednesday after Washington seemed to take the market's worst-case scenario off the table.
General Motors says it may offer current shareholders a reverse stock split that would give them one share of new stock for every 100 shares they currently own.
The nation’s debt clock is ticking faster than ever — and Wall Street is getting worried.
The Federal Reserve announced Friday that it will launch a much-awaited program in June to bolster commercial real-estate lending. And, to help make the program more attractive to investors, the Fed will provide longer, five-year loans
Yesterday the Treasury Department announced another element to the Home Affordable Modification Program (one part of the Making Home Affordable Program). It addresses what has been a big impediment to loan modifications so far, that is, second liens. Of the $12 trillion mortgage market, about $1 trillion are second liens (often called “piggyback loans”). According to the NY Times, 70 percent of those are held by banks.
As executives of the nation's largest banks review their stress-test results, even the top performers are lobbying regulators to raise their scores before the numbers are finalized Friday.
Bondholders would be "nuts" not take General Motor's offer of 225 common shares for each $1,000 principal amount of notes, billionaire investor Wilbur Ross told CNBC.
There were any number of optimistic statements made last week. The G-7 finance ministers and central bankers said in a statement that "the pace of decline in our economies has slowed and some signs of stabilization are emerging." Treasury Secretary Timothy Geithner said, "There are signs that the pace of deterioration in economic activity and trade flows has eased." Both Geithner and the G-7 leaders warned that what they see are encouraging signs but warned downside risks are still present.
At least one of the 19 financial institutions that received a government stress test would require additional capital, based on the initial findings, according to a source.
Mutual funds and hedge funds hold two opposing views of the market right now. Cramer tells you who is right.
"Most banks" are currently well capitalized but need to hold a "substantial" amount above regulatory requirements in case the recession worsens, the Fed said in its eagerly awaited report on bank stress tests.
On last night’s Kudlow Report I asked Sen. Jon Kyl his thoughts on President Obama’s first one hundred days and whether he believes that government is taking over the economy.
Ben Bernanke and Timothy Geithner have outdone themselves, the Mad Money host says. Here's why.
The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler that could come as soon as next week, people with direct knowledge of the action said Thursday.
Toxic mortgage backed securities are a major problem-the issue is how to get private investors involved in buying the assets, mostly mortgage-backed securities.
The Treasury Department has increased its offer to repay Chrysler’s senior lenders as part of continuing talks on how to reduce the company’s debt, a person who had been briefed on the talks said on Wednesday.
It might just be my inability to see clearly, but the past two days have provided me some clarity on where the stress test is going.
It is good news that the big banks are reporting profits, though as some observers have noted, it’s not hard to make money with free funds (provided by thousands of smaller banks who cannot continuously roll over Federal Funds as a way to fund assets), writes William Dunkelberg, Economics Professor at Temple University.
On last night’s Kudlow Report I spoke with Rep. Jeb Hensarling about his thoughts on Treasury Secretary Tim Geithner’s TARP testimony and Team Obama’s overall handling of the banking system and economy.