Aug 26- A federal judge has rejected the United States' bid to dismiss a more than $25 billion lawsuit filed by Maurice "Hank" Greenberg, the former chief executive of American International Group, over the insurer's government bailout, clearing the way for a Sept. 29 trial.» Read More
Stocks were higher in afternoon trading Monday as news of an energy deal and a lifeline for Dubai helped buoy the market.
Stocks opened slightly positive Monday as investors grew less jittery about the situation in Dubai and a big merger deal helped juice the energy sector.
Stock index futures pointed to a positive open for Wall Street on Monday as investors cheered news that Abu Dhabi would provide $10 billion of surprise aid to neighbor Dubai.
The Securities and Exchange Commission will continue to "vigorously pursue" its charges against Bank of America over disclosure of bonuses to employees of Merrill Lynch, a top agency official said Friday.
The U.S. pay czar on Friday issued his latest crackdown on bailout recipients, ruling that cash salaries will be mostly limited to $500,000 for the next tier of top earners.
The Treasury Department has received $936.1 million in the sale of warrants it had received from JPMorgan Chase as part of the support it provided the bank during last year's financial crisis.
AIG is once again the top seller of fixed annuities to bank customers, although the contracts are being offered under the names of two subsidiaries, the New York Times reports.
Treasury Secretary Timothy Geithner told Congress Wednesday that the administration will extend the government's financial bailout program until next fall, saying it's needed to protect against fresh economic shocks.
The government's $700 billion bailout of the financial system helped prevent an all-out panic last fall but hasn't met many of the targets Congress set out, a watchdog panel says.
The Treasury Deaprtment expects to recover all but $42 billion of the $370 billion it has lent to ailing companies, according to a new Treasury report.
A day after Bank of America announced that it would repay its federal bailout money, Citigroup and Mr. Pandit, its chief executive, were left in the uncomfortable position of being the last of the Wall Street giants to remain tethered to the state, the New York Times reported.
Big banks are roaring back. At crisis' edge last year, they are repaying billions of dollars dumped into their vaults to rescue them. Dividend checks are accumulating at the Treasury. Taxpayers won't recoup the full sum of the government's unprecedented infusion to the financial sector, but the returns are ahead of schedule.
The coroner’s report left no doubt as to the cause of death: toxic loans. That was the conclusion of a financial autopsy that federal officials performed on Haven Trust Bank, a small bank in Duluth, Ga., that collapsed last December, the New York Times reported.
A group of House Democrats are stepping up demands for greater transparency from the Federal Reserve after reports that the Fed mishandled the bailout of insurance giant American International Group.
The Federal Reserve Bank of New York gave up much of its power in high-pressure negotiations with the American International Group’s trading partners last year, according to a government report made public on Monday.
Sen. Christopher Dodd, chairman of the Senate Banking Committee, told CNBC Wednesday that his version of the financial reform bill is a "discussion draft," and there is still room for debate over whether to create a single federal regulator, as well as whether to make an independent consumer protection agency.
A government watchdog said the $700 billion bailout for the financial industry played a major role in rescuing the economy over the last year but also engendered anger and distrust among Americans because of secrecy and confusion about the way the program was handled.
Even during his most frenzied days, when Congress is demanding answers or the president himself is calling, Treasury Secretary Timothy Geithner makes time to talk to a select group of powerful Wall Street bankers.
Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again.
Almost 10-million of stimulus money went toward revamping the Web site that monitors the spending. That's right. The government spending money on how it monitors how it spends money.