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.
By PBS NewsHour
One day after signing a $787 billion stimulus bill into law, President Barack Obama outlined a $75 billion plan to help stem foreclosures, which is at the heart of the nation's deepening economic woes.
The Treasury Department outlined an overhaul of the financial rescue plan Tuesday as the stimulus bill moved forward. Economists and analysts react to the developments.
A congressional panel has criticized the Treasury Department's oversight of the $700 billion financial industry bailout. The panel's report says the rescue funds have failed to alleviate the foreclosure crisis and the department has not kept a thorough record of…
Financial regulatory efforts apparently failed in the case of IndyMac, which was reportedly allowed to alter records to appear stronger than it was shortly before the sub-prime meltdown. Analysts take a closer look.
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