A top IRS official acknowledges that it was "embarrassing" how much the agency spent on training videos, including a "Star Trek" spoof.» Read More
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.
The Fed plans to release results of the stress test on May 4. Nobody is going to "fail" the test, but some may need capital, private or otherwise. There should also be some word as to how much capital would be needed.
How far will the Obama administration move to assert regulatory control over key sectors of the economy? Are we moving away from democratic capitalism, and toward some sort of corporatist state-directed economy? That could be the biggest stock market and economic-growth issue facing us today.
Requiring banks to account for their use of funds remains a top complaint, said Neil Barofsky, special inspector general to the TARP.
White House and Treasury officials are now talking about turning government TARP loans into common stock for the 19 biggest banks. It’s clearly a backdoor path to nationalization, as Uncle Sam would be the largest shareholder in these institutions. What’s more, it’s not at all clear that the administration will even let certain banks pay down their TARP loans.
President Obama’s top economic advisers have determined that they can shore up the nation’s banking system without having to ask Congress for more money any time soon, , the New York Times reported.
Big news today for the banks: The White House and Treasury announced that the economic stress-test results for the 19 largest banks will in fact be made public on May 4.
The United Auto Workers union has placed concession talks with General Motors on the back burner as it tries to reach a deal with Chrysler before an April 30 government deadline, two people briefed on the negotiations said Thursday.
The Obama administration will disclose details about its banking stress tests and what capital participants may need beginning next week, CNBC has learned.
Bank lending to consumers and businesses for many types of loans fell in February despite the billions of dollars in government support the banks received.
left/CNBC/Sections/News_And_Analysis/_Blogs/Guest_Blog/__COVER/fratto_t_100_2.jpg1100100010lefttruehttp://msnbcmedia.msn.comfalse1Pfalsefalse I can't stress this enough: the idea of publicly releasing big bank stress test results — in any form — is, well... distressing.
That’s the heartland tea-party message to Washington. Is bailout nation about to strike again? Sure looks like it. According to a bunch of front-page news stories, life-insurance companies are about to get TARPed. This is nuts.
The Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by a June 1 deadline, despite GM's public contention that it could still reorganize outside court, the New York Times reports.
All stocks benefit now that toxic assets no longer threaten the financial sector’s balance sheets. Here’s why.
For the last eight weeks, nearly 200 federal examiners have labored inside some of the nation’s biggest banks to determine how those institutions would hold up if the recession deepened, the New York Times reported.
Is bailout nation about to strike again? Sure looks like it. According to this morning’s front-page Wall Street Journal story, life-insurance companies are about to get TARPed. This is nuts.
Federal and state officials say they are cracking down on mortgage modification scams that target the Obama administration's efforts to make home loans more affordable
Luckily for investors, the news isn’t yet priced into stocks. That means it is time to buy.
Four small banks became the first to return millions of dollars of emergency aid, and more may soon follow as the industry tries to escape what it considers the onerous conditions attached to the government’s money.
The depth of the recession and the use of taxpayer dollars to bail out companies have made it politically acceptable for overseers to tinker with employment agreements.