The U.S. Treasury released stress tests of 19 major banks, finding that they collectively need another $75 billion by November. A financial reporter explains the results.
The Special Inspector General for TARP said Tuesday that the Treasury Department should do more to safeguard taxpayer dollars in the banking rescue plan. Kwame Holman reports.
Telling lawmakers that the U.S. financial system has grown "too unstable and fragile," Treasury Secretary Timothy Geithner rolled out the Obama administration's plans Thursday for a massive overhaul of the government's financial oversight role.
While markets rose Monday on details of the toxic asset plan, critics voiced concern over taxpayer risk and the need for a long-term fix to financial sector troubles. New York Times columnist Paul Krugman and Donald Marron of Lightyear Capital…
By PBS NewsHour
President Barack Obama said Monday that he intends to stop American International Group from paying out millions in executive bonuses, as concern intensified over the insurance giant's handling of federal rescue money.
A large number of sub-Cabinet positions across the federal government have yet to be filled, as the Obama administration carefully vets candidates for the Treasury Department and other agencies. A public service professor and New York Times reporter give an…
Facing criticism from some lawmakers, government officials defended their economic recovery plans. Kwame Holman reports.
By Admin, PBS NewsHour
Federal Reserve Chairman Ben Bernanke advised moving "aggressively" to ease the economic crisis during testimony to lawmakers Tuesday while defending the government's latest moves to prop up troubled insurance giant American International Group.
By PBS NewsHour
Federal regulators said Monday they are prepared to launch a revamped program to bolster troubled U.S. banks, including the option of increasing government ownership in financial institutions.
Global markets sank and the Dow Jones industrial average sank to a six-year low on fears over bleak job reports and the fragile state of the economy. Kwame Holman reports.
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