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TUESDAY, NOVEMBER 24, 2009
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NEWS ABOUT: Treasury Department

Treasury Department stories: 257 news summaries

61 - 80 of 257 Stories | << Prev 1 2 3 4 5 6 7 8 ... 13 Next >>

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ANALYSIS

 Chrysler Bankruptcy 
 Faces Bumpy Road 


Apr 30, 09 11:28 AM CDT
(Newser) - The battle to restructure Chrysler is about to go public, and could get messy, Michael de la Merced writes for the New York Times. After failing to get all the automaker’s debt-holders in line, the government prepared a “prepackaged bankruptcy,” a Chapter 11 filing with a reorganization... More »

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Chrysler • bankruptcy • Treasury Department • Fiat • prepackaged bankruptcy • creditor • UAW

Last-Minute Chrysler Talks Hinge on Smaller Lenders

Bankruptcy remains a possibility

Apr 29, 09 5:03 PM CDT
(Newser) - Chrysler is still preparing for bankruptcy in case the Treasury's last-minute negotiations with hesitant creditors crumble, the Wall Street Journal reports. Most big lenders have agreed to write down part of Chrysler’s debt in exchange for stakes in the company, but smaller hedge funds also have to agree for... More »

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Chrysler • bankruptcy • Treasury Department • US automakers • financial crisis • President Obama • creditor

Let Us Pay Out Bonuses, Citi Begs Geithner

Execs worry employees will bolt as bank chafes under pay restrictions

Apr 29, 09 5:47 AM CDT
(Newser) - Citigroup is asking the Treasury for permission to pay special bonuses to many key employees it worries will leave the company—despite the fact that taxpayers will soon become the largest shareholder in the bank. Citi is chafing under Treasury restrictions on executive pay, particularly in its lucrative energy trading... More »

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Citigroup • executive compensation • Treasury Department • bonuses • Timothy Geithner • executive bonuses

(Newser) - Auto workers cut a new agreement with Chrysler today that brought the automaker closer to a partnership deal with Fiat, the Wall Street Journal reports. Agreeing to lower health care benefits for retirees, United Auto Workers called the "concessionary agreement" painful but said it met President Obama's rigorous... More »

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Barack Obama • Chrysler • United Auto Workers • Treasury Department • Fiat

 Fed Describes 'Stress Tests' 


Apr 24, 09 4:06 PM CDT
(Newser) - At the behest of the Federal Reserve, the 19 biggest US banks are projecting their losses on 12 categories of financial product such as loans and mortgage securities, the New York Times reports. The Fed, which asked the institutions to project a hypothetical scenario of a “stressed economic environment,... More »

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Federal Reserve • bank • Treasury Department • bank failure • financial crisis • stress tests

 Banks Get Stress Test Grades 

Pandit out at Citi?

Apr 24, 09 8:40 AM CDT
(Newser) - The nation's biggest banks will start to learn how they did on the dreaded stress test today, reports the New York Times. Though the public won’t learn the results until May 4, analysts are predicting that many of the 19 banks will have to raise large amounts... More »

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Citigroup • Federal Reserve • Treasury Department • financial sector • Vikram Pandit • banks • banking industry • TARP • stress tests

 Treasury Ups Offer 
 to Chrysler Lenders 

Treasury blinks in standoff that will determine auto maker's future

Apr 23, 09 1:58 AM CDT
(Newser) - The Treasury Department is offering banks holding Chrysler's debt a better deal in the latest round of the back-and-forth over the automaker's future, the Wall Street Journal reports. The counter offer—still way short of what the banks seek—proposes to give lenders 22% of the $6.9 billion Chrysler... More »

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Chrysler • Citigroup • Morgan Stanley • Treasury Department • auto industry • JPMorgan Chase • auto bailout

Firms Fight Overseas Tax Changes Worth Billions

Last year's sheltered earnings could have brought US $20B

Apr 22, 09 11:10 AM CDT
(Newser) - Overseas tax reform plans in the works under President Obama would put a serious squeeze on top firms, which under current law can store foreign income abroad indefinitely, reports the Wall Street Journal. Ten of the biggest companies earned $58 billion in 2008 that’s now sheltered overseas—money that... More »

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taxes • Treasury Department • tax haven • Obama administration • President Obama • tax shelter

Banks, Treasury Play
Chicken on Chrysler Deal

Alternate headline: Banks, Treasury Play Chicken on Chrysler Deal

Apr 22, 09 7:46 AM CDT
(Newser) - A group of big banks balked at the Treasury’s proposal that they slash 85% of Chrysler’s debt, the government’s second such request. Instead, in what the Wall Street Journal calls a “significant act of brinkmanship” as an April 30 deadline looms, the banks, including bailout... More »

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Chrysler • Citigroup • bankruptcy • Morgan Stanley • Treasury Department • auto industry • JPMorgan Chase • auto bailout

MARKETS

 Dow Up 128 on Geithner Talk 

Banks rally after comments by Treasury secretary, Bank CEOs

Apr 21, 09 3:25 PM CDT
(Newser) - Stocks gained today on upbeat comments from Timothy Geithner and the CEOs of Citigroup and US Bancorp, the Wall Street Journal reports. Banks rallied after the Treasury secretary said that the “vast majority” have sufficient capital. The Dow closed up 127.83 at 7,969.56. The Nasdaq rose... More »

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Citigroup • Dow Jones • Nasdaq • Treasury Department • S&P 500 • financial crisis • Timothy Geithner • TARP • US Bancorp

Geithner Puts Brakes on Bank Repayments

Treasury sec reluctant to free Goldman, others from constraints

Apr 21, 09 8:01 AM CDT
(Newser) - Tim Geithner is warning Wall Street that he will consider more than banks' individual financial fitness when deciding whether they can pay back bailout funds—and escape from the strings attached to them. In an interview with the Wall Street Journal, the Treasury secretary says that the whole banking system,... More »

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Goldman Sachs • Treasury Department • JPMorgan Chase • Obama administration • Treasury secretary • financial crisis • Wall Street bailout • Timothy Geithner • Obama Cabinet

Chrysler Gets New Aid, but End May Loom

Treasury pushes automaker toward Fiat deal or liquidation

Apr 21, 09 7:19 AM CDT
(Newser) - The Obama administration has given a further $500 million to keep Chrysler afloat, but Washington signaled yesterday it increasingly believes Chrysler will not survive as an independent company. Treasury officials met yesterday with CEO Robert Nardelli, as well as the heads of the United Auto Workers and Italian automaker Fiat.... More »

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Chrysler • General Motors • Treasury Department • auto industry • Fiat • Obama administration • auto bailout

(Newser) - Chrysler's financing arm has turned down a $750 million federal loan in order to skirt limits on executive pay, sources tell the Washington Post. Fearing that an earlier $1.5 billion loan was running out, the Treasury offered Chrysler Financial the extra credit about 2 weeks ago, attaching strict... More »

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Chrysler • Treasury Department • TARP • auto bailout

ANALYSIS

Bank Lending Still Down 23%
4 Months
After Bailout

Journal says Treasury's tally hides damage

Apr 20, 09 8:28 AM CDT
(Newser) - Banks that received taxpayer aid to restart lending are loaning less than they did before the bailout, a Wall Street Journal analysis finds. The most recent figures available, from February, show a 23% drop in new loans from the lending level in October, when the Treasury Department kicked off TARP,... More »

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loans • bank • Treasury Department • credit crisis • statistics • lending practices • bailout • financial crisis • TARP

Fannie Mae CEO Picked as Bailout Chief

Former Merrill Lynch prez to overhaul $700B TARP program

Apr 18, 09 6:45 AM CDT
(Newser) - Wall Street veteran and Fannie Mae CEO Herb Allison has been nominated to oversee the Treasury's $700 billion bank rescue, Bloomberg reports. If confirmed by Congress—where he's likely to be grilled on his defending of bonuses at Fannie—Allison will be tasked with deploying the second phase of the... More »

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Fannie Mae • Treasury Department • bailout • financial crisis • TARP • Herb Allison

Citing Too-Low Prices, Banks Won't Sell Toxic Assets 

Stress test an Obama weapon

Apr 16, 09 11:37 AM CDT
(Newser) - Banks are proving so reluctant to part with their so-called “toxic assets” that the Obama administration may have to strong-arm them into doing so, Time reports. Banks are protesting that the prices being offered—about $70 per $100 bond by the magazine’s calculations—are too low. That’s... More »

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Goldman Sachs • Treasury Department • JPMorgan Chase • Obama administration • banking industry • financial crisis • Timothy Geithner • toxic assets • stress tests

 Feds May Reveal 
 Which Banks Are Weakest

Results of 'stress tests' may go public

Apr 15, 09 4:00 AM CDT
(Newser) - The administration may go public with some of its "stress test" results, which diagnose how well the country's 19 biggest banks will weather the financial crisis, insiders tell the Wall Street Journal. The administration has so far been treating all banks equally, but the stronger banks could soon be... More »

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bank • Treasury Department • financial sector • financial crisis • TARP • stress tests

Fed to Banks: Keep Quiet on Stress Tests

Officials worry leaked results will cause market chaos

Apr 10, 09 12:38 PM CDT
(Newser) - The Federal Reserve is adopting a loose-lips-sink-ships policy when it comes to the “stress tests” being administered to big US financial firms. Goldman Sachs, Citigroup, and others have been ordered to keep quiet about their financial report cards, Bloomberg reports. Officials fear that should those results leak, investors would... More »

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Ben Bernanke • Federal Reserve • Treasury Department • financial sector • Timothy Geithner • stress tests

MARKETS

 Dow Rises 246 
 on Rosy Bank News

Rosy NYT report on Treasury 'stress tests' fuels risk appetite

Apr 9, 09 3:23 PM CDT
(Newser) - Surging financial stocks spurred a broader rally today, the Wall Street Journal reports. A New York Times report that all 19 banks facing Treasury “stress tests” will pass boosted shares in a sector already buoyed by a strong Wells Fargo earnings forecast. The Dow rose 246.27 to close... More »

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New York Times • Dow Jones • Wells Fargo • Nasdaq • Treasury Department • financial sector • S&P 500 • stress tests

Bailout Honchos Weigh Toxic-Asset 'War Bonds'

Treasury's new idea would allow private investors to profit from bailouts

Apr 9, 09 8:11 AM CDT
(Newser) - Responding to charges the bank bailout privatizes profits while socializing losses, the Obama administration is exploring creating mutual-fund-type instruments that would allow private citizens to invest in toxic assets. The bailout funds, akin to war bonds, would allow the taxpayers who funded the bailout to profit along with Wall Street,... More »

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Treasury Department • mortgage backed securities • bailout • Obama administration • Main Street • financial crisis • Timothy Geithner • toxic assets

61 - 80 of 257 Stories | << Prev 1 2 3 4 5 6 7 8 ... 13 Next >>


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