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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: Treasury Department

Treasury Department stories: 257 news summaries

41 - 60 of 257 Stories | << Prev 1 2 3 4 5 6 7 ... 13 Next >>

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(Newser) - The Obama administration is finalizing a legislative proposal that would strengthen the reach of financial regulatory agencies, the New York Times reports. The plan wouldn’t likely consolidate the four major bank regulators, which could meet with fierce opposition in Congress. “I don’t mind overlap as much as... More »

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Federal Reserve • financial markets • Chris Dodd • Treasury Department • Barney Frank • bank regulation • Obama administration • President Obama

GM's Opel, Vauxhall Get a Shot at Survival

Canadian firm wants to buy brands, but deal needs German help

May 29, 09 11:48 AM CDT
(Newser) - Canadian auto supplier Magna wants to buy GM’s European brands, offering Opel and Vauxhall a chance at survival, the Wall Street Journal reports. A deal for Opel would need temporary German funding. Angela Merkel’s government is debating putting up some $2 billion—but wants GM and the US... More »

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Angela Merkel • Magna International Inc. • Germany • General Motors • Treasury Department • auto industry • Opel • Vauxhall

MARKETS

 Dow Flips on T-Notes, Adds 104 


May 28, 09 3:14 PM CDT
(Newser) - A well-received auction of Treasury notes and a jump in the price of crude oil pushed markets up today, the Wall Street Journal reports. “There was some real fear coming into this,” a strategist said of yesterday’s worries about government debt. “Clear-cut case of sell on... More »

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stock market • NASDAQ • New York Stock Exchange • Dow Jones • Treasury Department • S&P 500 • oil prices • Treasury note

(Newser) - General Motors will file for bankruptcy protection Monday, insiders tell Bloomberg. The company has apparently decided that it cannot make the government-mandated June 1 deadline to shed $44 billion in debt. The timeline is unclear, but bondholders' agreement today to forgive debts in exchange for a stake in the “... More »

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Chrysler • General Motors • debt • recession • Treasury Department • Chevrolet • auto industry • Cadillac • bankruptcy protection • bondholder

FDIC May Ditch Public-Private Bad-Assets Plan

Banks in better shape; buyers and sellers remain reluctant

May 28, 09 10:12 AM CDT
(Newser) - The government may scale back or put on hold parts of its controversial, slow-starting plan to get toxic assets off banks’ books, the Wall Street Journal reports. With both buyers and sellers expressing reluctance, and banks looking healthier, the Federal Deposit Insurance Corp will likely delay next month’s scheduled... More »

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Treasury Department • FDIC • Sheila Bair • toxic assets • PPIP

 Geithner Headed to China 


May 27, 09 4:08 PM CDT
(Newser) - Treasury Secretary Timothy Geithner will meet with Chinese officials, including the president, next week in Beijing, the New York Times reports. Before being confirmed for the position, Geither had charged China with “manipulating” its currency. The visit is intended to solidify the trading relationship between the countries, and Geithner... More »

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China • Hu Jintao • Treasury Department • Obama administration • Treasury secretary • Timothy Geithner

MARKETS

 T-Note Surge Puts Dow Off 173 


May 27, 09 3:11 PM CDT
(Newser) - A Treasury note bump and continued skittishness about the US economy sent stocks down today, the Wall Street Journal reports. “Yesterday, everyone was happy about the consumer,” one strategist said. “Now people are wondering about the flip side: What happens if consumption gets out of hand?” The... More »

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stock market • NASDAQ • New York Stock Exchange • Dow Jones • Treasury Department • S&P 500 • Treasury bills

(Newser) - If General Motors goes into bankruptcy next Monday—as is widely expected—the US government will own 70% of the automaker, the New York Times reports. Under a plan that GM officials detailed today to union members, the UAW would take a 17.5% stake though its health care... More »

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United Auto Workers • General Motors • Treasury Department • Chevrolet • auto industry • Obama administration • President Obama • bankruptcy protection • UAW

Geithner Back From the Dead, Politically

Once-ridiculed
Treasury chief now on top of his game

May 26, 09 9:51 AM CDT
(Newser) - After a rough start, Timothy Geithner has found his sea legs. Many were calling for the Treasury secretary’s head after his botched handling of February's bailout speech and the AIG bonuses. But, reports Politico, as the economy stabilizes, Geithner’s getting the hang of things. His regular meetings have... More »

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AIG • Treasury Department • bank regulation • Treasury secretary • financial crisis • Timothy Geithner

GM Borrows Another $4B From Feds

Company to cut 3,400 more white-collar jobs amid restructuring

May 23, 09 6:09 AM CDT
(Newser) - General Motors has borrowed another $4 billion from the Treasury ahead of its June 1 deadline to restructure or face bankruptcy, the Wall Street Journal reports. A statement from the automakers said the loan, which brings the total borrowed to nearly $20 billion, is "to maintain adequate liquidity" during... More »

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General Motors • Treasury Department • restructuring • auto industry • auto bailout

ANALYSIS

Banks Lowball Taxpayers on TARP Payback

Feds hold stake after emergency loans, and could profit by waiting

May 19, 09 10:55 AM CDT
(Newser) - US banks are eager to repay their TARP money, but doing so might rob taxpayers of the upside they were originally promised, the New York Times reports. In exchange for emergency loans, the government got 10-year warrants to buy stock in the banks. If repaid, it must sell those warrants.... More »

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Treasury Department • stock options • banking industry • Troubled Asset Relief Program • TARP • Old National Bancorp

ANALYSIS


 Geithner's 
 Understaffed 
 Treasury 
 Is Stalled 

Geithner's undermanned department struggles to execute plans

May 18, 09 5:56 AM CDT
(Newser) - Nearly two months ago the Treasury announced it was booting Rick Wagoner as CEO of General Motors. But he's still technically on the payroll—because Treasury officials continue to debate whether he should receive the $20 million severance package he was promised. It's only one of many key decisions that... More »

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General Motors • Treasury Department • Rick Wagoner • Treasury secretary • Timothy Geithner • job vacancies

(Newser) - Now that the banks' stress tests are done, it's on to the insurance industry. The Treasury Department said today it will give TARP funds to the nation's biggest life insurers, the Washington Post reports. Hartford Financial has been given preliminary approval to receive $3.4 billion, and as-yet unspecified amounts... More »

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Treasury Department • insurance industry • life insurance • Allstate • Prudential Financial • Lincoln National • Hartford Financial • TARP • Ameriprise • Principal Financial Group

OPINION

This Rally Is for Suckers, Courtesy of the Fed


May 12, 09 9:37 AM CDT
(Newser) - The Dow has soared a whopping 30% since March 9, but Andy Kessler doesn’t think the good times are here again. “This sure smells to me like a sucker’s rally,” he writes in the Wall Street Journal. Earnings aren’t up. The market is just... More »

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Ben Bernanke • stock market • Federal Reserve • Treasury Department • bear market • bull market • stress tests

(Newser) - In the wake of reports that complaining banks cajoled the Federal Reserve into sweetening some stress test results, the Wall Street Journal looks at the hard numbers. Citigroup, for example, was originally supposed to raise $35 billion; the number eventually released was $5.5 billion. The total for Bank... More »

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Citigroup • Bank of America • Federal Reserve • Wells Fargo • Treasury Department • banking industry • TARP • stress tests

Bank Wrangling Softened Stress Test Results

Fed massaged some figures to portray banks as healthy

May 8, 09 5:40 AM CDT
(Newser) - Some major banks managed to cajole the government into using more optimistic figures in its "stress test" results, insiders tell the Washington Post.  Banks like Citigroup—eager to show they were healthy and didn't need more help from the government—were given credit for pending moves to raise... More »

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Bank of America • Wells Fargo • bank • Treasury Department • banking industry • financial crisis • TARP • stress tests

(Newser) - It's official: The stress-test results are out, and the feds say 10 of the nation's 19 biggest banks need to raise a total of $75 billion in capital to weather a future downturn, the Wall Street Journal reports. The banks, five of which are regional, are:
  • Bank of America:
... More »

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Ben Bernanke • Bank of America • Treasury Department • banks • banking industry • Timothy Geithner • stress tests

 Stress-Tested Banks 
 Need Just $100B 

Investors find causes for optimism in capitalization news

May 7, 09 7:25 AM CDT
(Newser) - Leaked results of the stress tests on America's biggest banks separate sufficiently capitalized banks—including JPMorgan Chase, MetLife, AmEx, and Goldman Sachs—from underfunded ones such as BofA, Wells Fargo, and Citi. Bank shares rose sharply yesterday and today, and some investors said the results were better than they feared.... More »

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Ben Bernanke • Goldman Sachs • Federal Reserve • recession • bank • Treasury Department • JPMorgan Chase • banks • Timothy Geithner • TARP • MetLife • stress tests

 Fed to Release 
 Stress Test Results Next Week 

Data will show potential losses in specific loan categories

May 1, 09 1:44 PM CDT
(Newser) - The US will learn the fiscal health of its 19 biggest banks Thursday, when the Federal Reserve and Treasury release the results of the “stress tests,” the Wall Street Journal reports. Delayed somewhat, the results will contain potential loss estimates in specific loan categories for each bank, and... More »

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Federal Reserve • capital • Treasury Department • credit crisis • loan • banks • stress tests

 Treasury's Mantra: 
 'Rahm Wants It' 

"Rahm wants it" is new motto around Geithner's office

May 1, 09 10:55 AM CDT
(Newser) - Tim Geithner's early struggles to gain the confidence of the markets and the public have led to a stronger-than-usual White House presence at the Treasury Department, where "Rahm wants it" is a frequent refrain, reports the Wall Street Journal. Although it's a dramatic shift from the Hank Paulson regime,... More »

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Rahm Emanuel • Treasury Department • David Axelrod • Obama administration • Treasury secretary • Timothy Geithner

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