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.
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.
1st paragraph of story should go here
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.