The day after President Obama’s State of the Union, Congress went ahead and passed a $1.9 trillion—that's right—a $1.9 trillion increase in the federal government’s debt limit. Let me tell you why this bothers me.
The tax on banks proposed by President Barack Obama is likely to become law, while a proposal to set up a fund for unwinding troubled financial institutions has little chance of succeeding, Rep. Barney Frank, D-Mass., told CNBC Friday.
This Monday, Henry Paulson will be on CNBC as Larry's guest. The former head of the Treasury is coming on CNBC to talk with Larry about his new book and his role in the bailouts and AIG.
Unpopular as he may be, Treasury man Tim Geithner did a fine job yesterday defending the government rescues of last fall — including AIG.
What-did-they-know-and-when-did-they-know-it will be the over-arching theme of the questions. According to the US Treasury Department, Geithner was recused from "working on issues involving specific companies," including AIG after he was nominated on Nov. 24th, 2008, for the US Treasury Secretary.
A leading investigator will answer questions before a Congressional panel on how the government handled the bailout of A.I.G. Wednesday and will cite contradictions in the Treasury’s public statements about the bailout, according to The New York Times.
Behavioral scientists are having a field day with this behavior and one professor states these borrowers are suffering from "norm asymmetry.
Just as regulators, lawmakers and all forms of financial oversight boards are talking about new regulations to guard against mortgage fraud and another mortgage meltdown, there appears to be yet a new mortgage fraud out there today, allegedly perpetuated by agents of, yes, the big banks.
U.S. banks are ensnared in a trap resembling the Hotel California — they can check-out any time they like, but they can never leave.
'Bond vigilantes' are selling Eastern European, Dubai, Irish and Italian debt and at some point will go for bigger bait, Guy Monson, managing partner and CIO of Sarasin & Partners, told CNBC late Monday.
President Obama Friday announced $2.3 billion in tax credits under the Recovery Act to further dozens of clean energy initiatives. The goal: To become a leader in green tech innovation while creating manufacturing jobs on American soil.
The $75 billion program to protect homeowners from foreclosure has been viewed as a disappointment, and some experts now contend it has done more harm than good, the New York Times reports.
The Treasury market absorbed $118 billion in notes this week without a hitch but next year, markets may not be so nice as investors worry about inflation and the growing supply of new issuance.
Markets are likely to be more volatile and US markets are likely to outperform emerging markets in 2010, Marc Faber, author of the Gloom, Doom and Boom Report, told CNBC Wednesday.
Why did the Obama administration raise the cap on the amount of money it would lend to Fannie Mae and Freddie Mac?
As interest rates are set to rise, investors should position themselves away from bonds to avoid being caught in a severe fall in prices, Dan Deighan, founder of Deighan Financial Advisors, told CNBC Tuesday.
With so much focus on job creation, there is a huge elephant in the Recovery Act room: fraud and waste. According to the Association of Certified Fraud Examiners, organizations lose seven percent of annual revenues to fraud. If you apply that metric to the Recovery Act, that's $55 billion dollars.
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.
The path of the dollar and fallout from the quadruple expiration of futures and options could be big drivers for stocks on Friday.
Citigroup's troubled share offering represents a major setback for CEO Vikram Pandit and his efforts to free Citigroup from government control, the NYT reports.