The U.S. government would be given broad new powers to shrink financial firms deemed "too big to fail" and shift the cost of rescuing troubled companies from taxpayers to other large firms, according to draft legislation released Tuesday.

Question: TARP was originally proposed to deal with “toxic assets” to unclog the books of financial institutions and prevent them from becoming insolvent. The toxic assets to date have not been bought up, so…

Federal Reserve Chairman Ben Bernanke looked to assure lawmakers and Wall Street that the central bank will be able to scale down its massive stimulus efforts and avoid inflationary concerns when the economic recovery is more certain.

Federal Reserve Chairman Ben Bernanke testified before a House committee Thursday, facing questions on the Fed's role in pushing Bank of America to acquire the struggling Merrill Lynch during the height of the Wall Street meltdown.

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.

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