Hedge funds and investment firms are advising and lending money to the Puerto Rican government, reports the New York Times.» Read More
The suppliers are now talking with the Treasury Department about getting $20.5 Billion in federal aid. These guys are hurting, close to collapsing, and on the verge of blowing a hole through the auto industry.
Treasury Secretary Timothy Geithner is no Hank Paulson when it comes to his personal finances.
Since Geithner is something of a wounded warrior from the tax non-payment controversy, Team Obama’s economic policy is shifting toward a Larry Summers power-center right now.
That is the question this year about Davos. In such troubled economic times, expected participants—from Wall Street To Washington—are dropping like flies.
These two guys got away with murder, but no one seems to care.
The last thing we need is another master of the universe who feels like the rules of the moral code do not apply to him, says Jerry Bowyer.
With rumors swirling over a nationalization of Citigroup and serious questions being raised about the Geithner nomination, the US is in for a tough weekend, says Andrew Busch.
Wall Street and Washington now favor a government-run entity to buy troubled assets from banks and other struggling financial firms.
Team Obama has gotten its way on the Tim Geithner nomination for Treasury Secretary - but the Democrats may rue the day, since Geithner’s lack of character and truth-telling will surely take its toll and sully President Obama’s new era of responsibility.
With the dramatic plunge in the British pound and the dramatic rise of the Japanese yen & Swiss Franc, the rumblings from Tokyo to Zurich to London are all pointing in the direction of action, says Andrew Busch.
Treasury Secretary-nominee Timothy Geithner revealed new insights into how the Obama administration plans to handle the Wall Street crisis.
The stock dropped after the Treasury Secretary nominee admitted he used the software to do his taxes.
As we prepare for US Treasury nominee Tim Geithner's confirmation hearings before the Senate Finance committee, we have already got a taste of what is to come, says Andrew Busch.
Stocks are swooning again — down seven straight days — and threatening to break below a November 20 bottom. Part of this stems from bad economic data, including today’s announced plunge in December retail sales. This of course follows last Friday’s outsized drop in payroll employment.
The top Republican on the Senate Finance Committee said Wednesday the panel delayed a hearing on the nomination of Timothy Geithner to head the U.S. Treasury to give senators more time to reflect on Geithner's failure to pay payroll taxes.
The Treasury Department has invested $72 million out of the $700 billion in federal bailout funds to help prop up the Independent Bank of Michigan, which traces its roots back 144 years. It is a small chunk of the giant rescue fund being wagered by Washington to encourage banks like Independent to resume lending and jump-start the frozen economy, says the New York Times.
The board members of the Federal Reserve Bank of New York weighed who will become its next president over the weekend, interviewing candidates and meeting to discuss them, people briefed on the conversations said.
The Bank of Japan said Thursday it will provide 1.22 trillion yen ($13 billion) in emergency loans to financial institutions as part of a new program to spur lending to the country's businesses.
China has bought more than $1 trillion of American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at home, a move that could have painful effects for American borrowers, the New York Times reported.
After fleeing to the safety of US Treasurys, investors are moving back into stocks and corporate bonds in search of something else—profits.