The Obama administration on Thursday authorized the seizure of assets belonging to an extremist organization in Iraq and an Iranian backer of insurgents, saying both are responsible for deadly attacks in Iraq.
Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday.
Foreign demand for long-term U.S. financial assets fell in April as both China and Japan trimmed their holdings of Treasury securities.
The government now has an equity stake in auto lender GMAC Financial Services after providing $12.5 billion in aid to keep loans flowing to buyers of GM and Chrysler cars, the Treasury Department said Tuesday.
The U.S. government could eventually own a majority stake in GMAC Financial Services following its latest $7.5 billion aid package to the ailing auto financing company.
Foreign demand for long-term U.S. financial assets rose in March as both China and Japan bought more Treasury securities.
The chief executives of the country's nine largest banks had no choice but to accept capital infusions from the Treasury Department in October, government documents released Wednesday have confirmed.
The Obama administration is asking Congress to extend its oversight of the financial system to include the shadowy market of derivatives, the kind of complex financial instruments that helped catapult the world into an economic crisis.
Treasury Secretary Timothy Geithner is no longer alone. The Senate on Friday confirmed another Obama Treasury nomination.
Legislation to rein in credit card practices and eliminate sudden rate hikes and late fees that have entangled millions of American consumers is getting closer to becoming law, bolstered by presidential pressure and the backdrop of economic calamity.
The Treasury Department said Wednesday it will boost the number of times it auctions 30-year bonds to 12 times a year in another move to cope with the government's soaring debt.
The Treasury Department said Monday it will need to borrow $361 billion in the current April-June quarter, a record amount for that period.
The Treasury’s “stress test” for the U.S. financial system sounded like a good idea at the time. But as officials wrap up and begin disclosing the results, some critics are giving the entire process a failing grade.
The Obama administration on Wednesday declined to cite China as a country that is manipulating its currency to gain unfair trade advantages.
MetLife Inc. will not participate in the Treasury Department's capital purchase program, the New York-based insurer said Monday.
Insurer Genworth Financial said Thursday it is abandoning its effort to buy Minnesota-based InterBank because the Treasury Department says it's too late for the company to be approved to participate in the government's $700 billion financial rescue program.
The Treasury Department opened a $5 billion financing support program on Wednesday to help auto suppliers keep parts flowing to General Motors Corp. and Chrysler LLC as they try to rebound with billions in government aid.
The Treasury Department this month will begin revising a tax treaty with Switzerland, which has pledged to increase transparency and help crack down on tax evaders with money in Swiss banks.
The Treasury Department is making it easier for hedge funds and other private investors to participate in its plan for buying up banks' bad assets, an acknowledgment that the interest level so far has been lackluster.
The Treasury Department on Tuesday extended a temporary guarantee of money market mutual fund assets initially put in place during the height of the financial crisis.
Treasury Secretary Timothy Geithner made the rounds of Washington talk shows Sunday to make the case that the government’s efforts to bailout the financial system are on track. Geithner also said the Treasury has about $135 billion left in bailout funds and that, if more is needed, “we’ll cross that bridge when we come to it.”
President Barack Obama on Saturday moved to fill three top Treasury Department positions, seeking to give Secretary Tim Geithner added manpower at an agency that has been slow to fill vacancies.
The global market meltdown has created broad consensus that tough new rules are needed to prevent anything like this from happening again. But as Congress and the White House begin getting down to details, that’s pretty much as far as the consensus goes.
President Barack Obama on Monday moved to fill three top jobs at the Treasury Department to help Secretary Tim Geithner manage the federal bureaucracy charged with helping the nation's struggling economy.
After months of speculation and false starts, the Treasury Monday announced a new plan to deal with the so-called "toxic assets" that have been weighing down the financial sector and clogging global credit markets.
So would you invest in AIG? You just did. As a Stockbroker, if I used your money to invest in this, or any, company without your permission. I would be punished by FINRA and the SEC and likely have to make restitution to you for any loss, should that happen.
Responding to the Obama administration's new regulatory reform plan, which will officially hand the Federal Reserve complete dictatorial control over the U.S. economy, Congressman Ron Paul told MSNBC that the Fed was now more powerful than Congress.
Would the Obama administration's plan for financial reform do what has to be done? Yes and no.
The Treasury announced Thursday a record $104 billion worth of bond auctions for next week, part of its herculean efforts to finance a rescue of the world's largest economy.
Two Japanese men are detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland. Details are maddeningly sketchy, so naturally the global rumor mill is kicking into high gear.
Mommas, Don't Let Your Babies Grow Up to Report on the Government's Financial Reforms
The inspectors general at the U.S. Treasury and the Federal Deposit Insurance Corp.
The reports bolstered the argument that the economy's severe recession was close to hitting a bottom, with growth likely to return in the second half of the year. More Articles
Two Japanese nationals were detained by Italian financial police last week after trying to enter Switzerland with $134 billion worth of undeclared U.S. bonds, mostly Treasury bonds, an Italian daily said Wednesday.
The District ranks highest in the country for cocaine use and alcohol dependence, and has the third-highest percentage of marijuana usage, according to a new study.
When a country is under threat of invasion, it does what it must and it doesn't count the cost. But when the danger has passed, the debt remains. If big enough, it soon emerges as a serious national problem.
US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.
Brand expert John Tantillo praises the Treasury Department's recent bank stress tests (with a few caveats) and criticizes KFC and Oprah for the recent coupon fiasco.
The number of Americans filing claims for unemployment insurance unexpectedly fell last week to the lowest level in three months, a sign the worst of the job cuts may be over. More Articles
"The past few weeks' claims data are beginning to look increasingly like a peak," wrote Ian Shepherdson, economist at High Frequency Economics, in a research note. More Articles
I must be living wrong. Never won a scholarship, grant or lottery and have never qualified for help from the government. Sure would love to owe money on a home about now.
The legislation would expand federal fraud laws to cover funds disbursed under both the $700 billion financial rescue program enacted last year and the $787.2 billion economic stimulus package signed into law this year.
The treasury secretary is torn between politics and policy
Author Jonathan Weil talks about how Bernake, Paulson, and Geithner knowlingly broke the law in an 'ends justify the means' method for getting the Bank of America deal done. This puts you and I, the American Tax payer more at risk than they were willing to admit.
Taxpayers invested another $2 billion in General Motors Corp. this week as the struggling auto giant continued efforts to restructure and avoid bankruptcy court. See more irresistible headlines
The Treasury Department has increased its offer to repay Chrysler's senior lenders as part of continuing talks on how to reduce the company's debt, a person with knowledge of the matter said on Wednesday.
WASHINGTON -- Instead of funneling taxpayer money into big financial firms, the government should take the radical step of breaking them up into smaller, more transparent companies, top economists told lawmakers Tuesday.
He told the group he would not spend too much time talking before opening it up for questions.
Just when you think the political class may have learned something in months of trying to fix the banking system, the ghost of Hank Paulson returns to haunt the Treasury.