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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: Treasury Department

Treasury Department stories: 257 news summaries

81 - 100 of 257 Stories | << Prev 1 2 3 4 5 6 7 8 9 ... 13 Next >>

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 US Extends Bailout 
 to Life Insurers 

Treasury throwing a lifeline to a third industry

Apr 8, 09 1:41 AM CDT
(Newser) - The Treasury Department has decided to give struggling life insurance companies access to federal bailout funds, insiders tell the Wall Street Journal. The industry—which had earlier seemed largely immune to the credit crisis—has been hit hard by stock market and real estate declines, leaving some firms on the... More »

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insurance • Treasury Department • life insurance • Troubled Asset Relief Program • financial crisis • TARP

(Newser) - The Obama administration has devised a maybe-legal method of avoiding Congress’ restrictions on companies that accept bailout funds, including limits on executive pay and a requirement that taxpayers get an ownership stake in the firms, the Washington Post reports. To sidestep the restrictions, the administration has created special entities... More »

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Barack Obama • Congress • executive compensation • Treasury Department • bailout • Obama administration • Troubled Asset Relief Program • Wall Street bailout • Timothy Geithner • TARP

investigation

At NY Fed, Geithner Saw Risk, Didn't Act

Legacy of missing red flags trails onetime regulator to Treasury

Apr 3, 09 10:35 AM CDT
(Newser) - Timothy Geithner spent a lot of time thinking about the derivatives trade as president of the New York Federal Reserve—in 2005 he convinced banks to digitize the market, making it far more efficient. But he never convinced them to scale back risk and never exercised his powers to force... More »

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Federal Reserve • Treasury Department • Federal Reserve Bank of New York • bank regulation • Timothy Geithner • regulator

MARKETS

 Dow Up 87; Gains for March 

Markets may be leveling out, though gains are fragile

Mar 31, 09 3:20 PM CDT
(Newser) - Stocks posted gains today as the first quarter came to a close, the Wall Street Journal reports. While the April earnings season and the results of the Treasury’s stress tests threaten to shatter equities’ recent gains, signs of economic stabilization made March a relatively good month. The Dow rose... More »

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Dow Jones • Nasdaq • Treasury Department • S&P 500 • first quarter earnings

In Bankruptcy Maneuver,
GM May Split in 2

If GM faces Chapter 11, a splitting of the company could avert disaster

Mar 26, 09 10:36 AM CDT
(Newser) - General Motors executives and Treasury officials alike seem adamant that the company should avoid Chapter 11 bankruptcy at all costs, but bankruptcy scenarios are already crystallizing behind the scenes, BusinessWeek reports. One option calls for splitting the company into a “good GM,” which would emerge from bankruptcy with... More »

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United Auto Workers • bankruptcy • General Motors • Detroit • bonds • Treasury Department • Chapter 11

OPINION

 This Rally May Be the Real Deal 

Positive indicators, better policy, historical benchmarks; the time is right for a bottom

Mar 26, 09 9:07 AM CDT
(Newser) - The tentative rally on Wall Street is reason enough for one economist to feel hopeful: "I’m ready to take another shot at calling the bottom," writes Michael Mandel in BusinessWeek. Since (apparently) bottoming out March 9, stocks have risen 20%, and the reasons behind the climb... More »

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stock market • Federal Reserve • durable goods • economic indicators • US-China trade deficit • financial markets • trade deficit • unemployment • Treasury Department • financial crisis

(Newser) - Tim Geithner today proposed a major expansion of federal regulatory powers, reports the Washington Post. In testimony before Congress, the Treasury chief called for hedge funds, derivatives markets, private equity firms, and major insurers like AIG to be brought under strict federal supervision for the first time. His plan, which... More »

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private equity • derivatives market • hedge fund • Treasury Department • financial institutions • bank regulation • Obama administration • financial crisis • Timothy Geithner

MARKETS

 Dow Wavers, Finishes Up 90 

Poor Treasury auction saps some investor confidence

Mar 25, 09 3:07 PM CDT
(Newser) - Stocks wavered today, with the indices posting gains but off session highs, the Wall Street Journal reports. A rise in durable-goods orders stoked an early rally, but enthusiasm was tempered by weak demand for US Treasuries in an auction. The Dow dipped into losses in the afternoon, but closed up... More »

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Dow Jones • durable goods • auction • Nasdaq • Treasury Department • S&P 500 • Treasury bills

 Geithner Asks Congress 
 for Broad Takeover Powers 

Defends actions during AIG bailout

Mar 24, 09 10:37 AM CDT
(Newser) - Timothy Geithner today asked Congress for expanded power to take the helm of big, failing  institutions like AIG and wind them down in an orderly fashion, Reuters reports. “AIG highlights broad failures of our financial system," Geithner said in unusually spirited testimony before the House Financial Services Committee.... More »

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Ben Bernanke • testimony • AIG • Treasury Department • bank regulation • Obama administration • financial crisis • Timothy Geithner

ANALYSIS

 Obama Needs 
 Help Selling 
 Economic Plans 

His team lacks common touch

Mar 24, 09 10:36 AM CDT
(Newser) - The White House economic team is great on policy, but when it comes to reassuring the public, President Obama is on his own, Peter Nicholas and Peter Wallsten write in the LA Times. "The ability to communicate with average people was not what these people were chosen for,"... More »

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Treasury Department • economic stimulus package • Larry Summers • economy • Obama administration • Wall Street bailout • President Obama • Timothy Geithner • Christina Romer

OPINION

Don't Listen
to Krugman—
This Plan
Might Work

Pearlstein lays into fellow columnist

Mar 24, 09 7:51 AM CDT
(Newser) - Even before the full details were released, critics were bashing the Treasury's public-private asset purchase plan; Paul Krugman predicted it would fail and lead the country into depression (not to speak of the writer into despair). Steven Pearlstein begs to differ, and the markets seem to agree. For the Washington ... More »

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nationalization • Treasury Department • Paul Krugman • Obama administration • Steven Pearlstein • Timothy Geithner • toxic assets • TALF • Public-Private Investment Program

 Feds Seek Expanded Power 
 to Seize Shaky Companies  

Treasury sec should be able to seize non-bank firms, says administration

Mar 24, 09 6:00 AM CDT
(Newser) - The Obama administration is expected to ask Congress for expanded powers that would let the Treasury secretary seize insurers, hedge funds, and other non-bank financial companies whose failure would imperil the economy, reports the Washington Post. While negotiations are ongoing, the plans to expand Treasury authority would represent a major... More »

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

ANALYSIS

 Geithner Wins Over Wall Street 

Careful roll out of asset plan helps Treasury secretary get his credibility back

Mar 24, 09 4:45 AM CDT
(Newser) - The carefully orchestrated roll out of the federal plan to buy toxic assets has won Tim Geithner Wall Street's support in the nick of time, Jackie Calmes writes in the New York Times. The Treasury secretary—whose plan was slammed when the "framework" was unveiled last month—could scarcely... More »

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Treasury Department • bailout • Obama administration • financial crisis • Wall Street bailout • Timothy Geithner • Public-Private Investment Program

OPINION

 Hey Paul Krugman, 
 Your Country Needs You 

Why aren't you in the administration?

Mar 24, 09 3:11 AM CDT
(Newser) - The latest video to shake up YouTube is a song plea that critical columnist Paul Krugman join the Obama administration and fix the economy. "Hey Paul Krugman, where the hell are you, man? Why aren't you in the administration?" sings songwriter Jonathan Mann. "When I listen to you... More »

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Barack Obama • YouTube • New York Times • Treasury Department • Paul Krugman • economy • Treasury secretary • Timothy Geithner • fiscal crisis • toxic assets

MARKETS

 Dow Rockets Nearly 500 Points 

Geithner's plan wins positive reviews from Street

Mar 23, 09 3:18 PM CDT
(Newser) - Stocks locked in big gains today with the rally sparked by the rollout of the Treasury’s financial rescue plan, the Wall Street Journal reports. Financials led advances, with Citigroup and Bank of America up 24% and 19%, respectively. The Dow jumped 497.48 to 7,775.86. The Nasdaq... More »

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Citigroup • Bank of America • Dow Jones • rally • Nasdaq • Treasury Department • S&P 500 • Timothy Geithner

OPINION

 Geithner: 
 'These 
 Policies 
 Will Work' 

Treasury sec lays out $1T plan in op-ed

Mar 23, 09 7:00 AM CDT
(Newser) - Tim Geithner caps a weekend of lobbying for the administration's $1 trillion Public-Private Investment Program in an op-ed for the Wall Street Journal, arguing that "the financial system as a whole is still working against a recovery." For the Treasury secretary, all the previous measures will fail... More »

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Treasury Department • mortgage backed securities • Obama administration • Treasury secretary • financial crisis • Timothy Geithner • TALF • Public-Private Investment Program

(Newser) - The Obama administration’s new plan for dealing with toxic bank assets is “creating massive moral hazard,” Paul Krugman blogs in the New York Times. The idea of providing taxpayer money to insure the purchase of possibly worthless assets is equivalent to the poor practices laid bare... More »

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recession • Treasury Department • Paul Krugman • private investors • Obama administration • Timothy Geithner • TARP • toxic assets

 Toxic Asset Plan to Offer 
 Subsidies to Investors 

Plan will offer loans, subsidies to investors willing to suck up bad assets

Mar 21, 09 6:08 AM CDT
(Newser) - The Treasury will unveil a plan to take up to $1 trillion in mortgage-backed securities and other troubled assets from financial institutions early next week, the Wall Street Journal reports. The plan, the cornerstone of efforts to rescue the banking system, calls for the creation of an entity to buy... More »

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Treasury Department • credit crisis • mortgage backed securities • financial crisis • toxic assets • TALF

(Newser) - The Treasury's new chief of staff once fought for the very executive bonuses Washington is trying to curb. When working for Goldman Sachs, Mark Patterson lobbied against a 2007 bill supported by Barack Obama to help limit Wall Street payouts. The initiative died in Senate committee. "Whatever Patterson had... More »

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Goldman Sachs • lobbying • Treasury Department • Timothy Geithner

(Newser) - Sen. Chris Dodd says that if he had known the purpose of changes to legislation he drafted for the stimulus package, he “would have flatly rejected it,” CNN reports. Dodd’s rewrite, at the behest of unnamed Treasury officials, allowed AIG and others receiving federal assistance to dole... More »

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Congress • legislation • Chris Dodd • AIG • Treasury Department • bonuses • economic stimulus package • Obama administration

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