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.
Economist Nouriel Roubini thinks Treasury Secretary Timothy Geithner's plan to rescue America's banks is good, but not a cure-all.
To really understand Washington’s new power structure, you need to look beyond the limelight to a group of below-the-radar appointees who will be implementing President Obama’s economic and business agendas.
President Barack Obama announced Saturday he would nominate three new people for positions at the Treasury Department.
"This book will be my account of our challenges as first responders in dealing with a once- or twice-in-100 years global credit crisis, armed with imperfect information and limited powers," says Henry Paulson about the book he is planning to write for the Fall.
Treasury Secretary Tim Geithner will unveil a four part plan to reform financial regulation when he testifies before the House Financial Services Committee Thursday.
Stocks ended higher Wednesday as a surge in the final minutes of trading pushed all three indexes in positive territory.
Stocks advanced Wednesday after a pair of better-than-expected economic numbers. New-home slaes rose more than expected and durable-goods orders unexpectedly rose, snapping a six-month slide.
Global stocks were mixed on Wednesday as the enthusiasm over the U.S. Treasury's plan to rid banks of up to $1 trillion in toxic assets was tempered by investors' second thoughts over how successful it could be.
Futures advanced Wednesday after an unexpected rise in durable-goods orders snapped a six-month slide.
President Barack Obama said Tuesday he hopes "it doesn't take too long to convince Congress" to approve new authority to oversee big, tottering financial firms.
Tim Geithner is looking to flex a little more muscle. On Tuesday he told Congress that he wants more authority.
Global stocks soared again Tuesday after investors cheered the U.S. Treasury's plan to free banks of up to $1 trillion in toxic debt, part of an array of measures designed to jumpstart lending and the economy. Experts tell CNBC the U.S. economy may be close to a bottom.
On Monday, the Obama administration made another aggressive move in their attempts to spark an economic recovery.
The Federal Reserve should play a "central role" in preventing future financial crises like the one now gripping the country.
On Monday the Treasury rolled out detailed plans to soak up $1 trillion in toxic assets -- an initiative that's widely believed to be a key element to economic recovery.
Plenty has gone wrong for Ben Bernanke lately, but give the man credit. He does not stop. When all of Washington wigged out about AIG bonuses and tried to figure out the politically expedient way to parley the hand into the next election, Ben went all in and kept trying to save the system.
The Treasury Department unveiled the details of its public-private investment program Monday, as part of its financial stability plan, which it says will help lay the foundations for economic recovery.
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.