The Obama administration, increasingly alarmed by the spillover effects of Europe’s financial crisis, has begun an intensive lobbying campaign to persuade Chancellor Angela Merkel of Germany to ramp up efforts to stem any contagion from the debt crisis in Greece, the NYT reports.
Scores of wealthy but little-known investors made profits from an emergency lending program the Federal Reserve announced in November 2008. The New York Times reports.
The Treasury Department will ask Congress for legislation to relax rules governing the Troubled Asset Relief Program or TARP to help small business get loans from smaller banks, CNBC has learned.
Federal Reserve Chairman Ben Bernanke said Friday a government program intended to spark lending to consumers and businesses is still necessary even with other emergency lending programs winding down as the economy recovers.
Well, the Administration can't say "give it time to work" and have some others say "we need another one before this one has had time to do its thing." Talk about creating a box needlessly. And don't you find it curious that the meat of the Stimulus package, the shovel-ready job-creation part of the deal, is due to hit just about in time for the midterm elections?
The U.S. economy isn't likely to recover until "well into 2010," Wilbur Ross, chairman and CEO of WL Ross & Co., said Monday.
The Department of Education has selected student lender Sallie Mae and three other companies to service the $550 billion in outstanding federal student loans and future loans owned by the government.
Futures moved up modestly as May Producer Price Index was up only 0.2 percent, less than the 0.6 percent increase expected.
I do like to kid Treasury Secretary Geithner, but in reality I think he has done a credible job under very difficult circumstances.
Investors appear to be more willing to participate in a U.S. Federal Reserve program aimed at reviving consumer and business lending, and demand for the program appears to picking up, Federal Reserve Chairman Ben Bernanke said in a letter to a lawmaker released on Friday.
Unemployment is a scary thought. No income, no benefits, emotional angst and the fear that the future isn't going to be better. The loss of 491,000 jobs as estimated by Automatic Data Processing on Wednesday is staggering.
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
For most of the day, stocks moved in a narrow range, but volume and prices picked up late in the day.
Wells Fargo Bank shocked Wall Street today with an earnings report that was double what the street mavens expected. Stocks shot up 200 points. What’s the first message? Banks are turning profitable. They’re in better shape than people think.
Do not trust the government seems to be the mantra of the possible players in the TALF program. But the program is off to a miserable non-start with only $1.7 billion being bid for this week.
So earnings season is underway, and the key test will be how the market responds to what is expected to be a concerted attempt to talk down expectations for the rest of the year.
The unemployment news released on Friday was as dismal as had been expected. 663,000 jobs were lost and the rate of unemployment hit 8.5%.
Banks are expected to get some relief Thursday on how they price billions of dollars in toxic debt. But the changes could just add more confusion—and won't make banks more attractive to investors.
The complex plan to deal with toxic assets may have answered Wall Street’s questions about shoring up balance sheets but it's raising concerns about funding and oversight.
Legislation giving the US new powers to seize troubled financial firms is unlikely to be introduced before Congress’s Easter recess, a source told CNBC.com.