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Global stocks were up Monday as anticipation of the details of US Treasury Secretary Timothy Geithner's plans to buy up toxic assets boosted investor sentiment. But experts are concerned that the methods the US is using are not going to help the economy.
The U.S. Treasury detailed Monday its plan to purge banks of toxic assets with the help of private investors, a key part of Washington's drive to pull the world's biggest economy out of severe recession.
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Management at American International Group's financial products unit asked its employees to let the unit know by 5 p.m. on Monday if they plan to return all or part of the bonuses they got under an employee retention program, said the Wall Street Journal, citing a person familiar with the matter.
AI G's corporate security advised employees to take measures to increase their safety and security due to "a growing sense of public attention fueled by increased media scrutiny."
Once again, Treasury Secretary Timothy Geithner is coming under fire – this time for comments made during a recent TV interview.
Can a crisis that started because of excess credit be solved with more debt?
In a stunning development, Sen. Christopher Dodd told CNN that Obama officials asked him to add language to last month's stimulus bill to keep AIG bonuses in place.
The Fed’s decision to buy long-term Treasurys was viewed as mostly positive by the markets but it is also probably a bad statement about the economy
American International Group chief executive Edward Liddy faces tough questions Wednesday on Capitol Hill when he will testify before the House Financial Services Committee on how taxpayers' money poured into the insurance giant has been spent.
Seems like everybody nowadays is interested in buying government bonds, but the reasons differ depending on who you are. The Bank of Japan announced they would increase the purchases of their own sovereign debt following in the footsteps of the Bank of England who also stated they would purchase gilts.
The President should declare a war on greed, like the war on terror, which would help us solve all sorts of problems, including fat bonuses for financial wizards at companies like AIG.
Call it what you will: an act of rebellion; blind myopia; a cry for help … but I'm actually starting to believe in the global recovery story.
The Federal Reserve has no option but to start buying Treasurys as the government's needs for financing are huge, but the government bond market is a disaster in the making, Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, told CNBC.
The Bernanke 60 Minutes interview lived up to billing with his comments that the country has avoided a Depression lifting market averages this morning.
There’s growing concern in some circles that the President’s economic policies are confusing massive stimulus with Big Government and will thus deliver a muted recovery in the next year.
The Obama administration's plan to purchase toxic assets from the banks in a public/private partnership could be made public as soon as this week, according to senior administration officials.
The Obama administration’s hope-and-change show hasn’t played well on Wall Street, but in the last week investors may finally be getting some of what they want and that could bring a happier ending than anyone imagined.
Today, General Motors announced it no longer needs a $2 Billion dollar loan from the Treasury Department this month.
Letting banks fail is not an option as it will cause a run on all the other banks of all forms of creditors, David Roche, global strategist at Independent Strategy told CNBC.