By Carolyn O'Hara
The Federal Reserve Bank of New York ceded much of its negotiating power to AIG's trading partners during the insurance giant's rescue last year, according to a new report from the watchdog for the Troubled Asset Relief Fund.
CIT, a major lender to small U.S. businesses, filed on Sunday for one of the largest Chapter 11 bankruptcy protections in history.
World leaders announced that the G-20 will replace the G-8 as the main forum for coordinating global economic policy. Jeffrey Brown and Paul Solman report.
Lehman Brothers survived the Civil War, the Great Depression, two World Wars, and the attacks of 9/11, yet under the leadership of Richard Fuld the investment bank went from storied Wall Street firm to catalyst of last year's economic crisis.
By Business Desk
Paul Solman: This week marks the anniversary of the collapse of Lehman Brothers and one of the most extraordinarily tumultuous weeks Wall Street has ever had. So, in reflecting on those events and the subsequent year, I thought I’d offer…
Question: [In the Bernanke on the Record forum hosted by the NewsHour,] Chairman Bernanke did not mention the bailout of Goldman Sachs — the first bank to receive such funds. Was it more critical to the survival of the…
In other news, President Barack Obama predicted job losses would likely continue to rise for the next few months, and six civilians working for NATO died in Afghanistan when their helicopter crashed.
By PBS NewsHour
Just a month after paying back $10 billion in government bailout funds, Goldman Sachs reported impressive second-quarter earnings Tuesday, comfortably surpassing analysts' expectations.
The U.S. Treasury announced Tuesday that 10 large banks would be permitted to start repaying approximately $68.3 billion in total bailout funds they received from the government in the past nine months.
Banking giant Citigroup Inc. announced Monday that it plans to trim approximately 50,000 more jobs as it struggles to steady itself after suffering massive losses from deteriorating debt.
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