The U.S. government has again bailed out Citigroup, unveiling a bold plan Sunday night to inject $20 billion in fresh capital into the troubled financial giant and shoulder most of the potential losses on $306 billion of high-risk assets.
One week after the Bush administration changed the focus of the $700 billion rescue plan for Wall Street, Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson defended the new strategy Tuesday when they testified before House members.
To prevent 1.5 million U.S. homes from facing foreclosure, the Federal Deposit Insurance Corp. made a proposal Friday for lenders, backed by the government, to modify struggling borrowers' loans. A New York Times reporter discusses the agency's plan plus resistance…
As the economic crisis continues to reverberate around the nation, troubles in the housing sector remain key to the upheaval -- and many homeowners are facing foreclosure in the interim. Economics experts debate various measures being considered to help homeowners…
Question/Comment: So the government hopes the $700 billion bailout will get banks to lend again. Why not require them to do so? According to the Wall Street Journal some of the banks are using the money for possible acquisitions, for…
The Bush administration unveiled a plan Tuesday to stabilize the teetering U.S. banking system with as much as $250 billion of the financial sector rescue fund. Three economic experts discuss the impact of the plan.
Wachovia Corp. changed course on a buyout deal Friday, agreeing to be acquired by Wells Fargo & Co. in a $15.1 billion all-stock deal, reversing an earlier agreement to be acquired by Citigroup.
With bipartisan support, the Senate easily approved a massive federal rescue plan aimed at stabilizing the economy and freeing up the crippled credit market Wednesday night. The vote was 74-25.
As the Senate votes on a modified version of the $700 billion bailout package that the House rejected, political and economic experts assess the measure's likely path and how it will affect financial markets abroad.
In the latest shake-up of the widening global financial crisis, Citigroup will acquire the banking operations of Wachovia Corp.
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