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Treasury Department

CIT Denied Bailout, Bankruptcy Likely

AP | STEVENSON JACOBS and DANIEL WAGNER | Posted 05.25.2011 | Business

NEW YORK — Denied a federal bailout, CIT Group Inc. said late Thursday its board and management continue to seek alternatives to shore up the co...

Obama Mulls Letting Struggling Homeowners Rent

Reuters | Patrick Rucker | Posted 05.25.2011 | Business

NEW YORK, July 14 (Reuters) - U.S. officials are weighing a plan to let borrowers who have fallen behind on mortgage payments avoid eviction by rentin...

Minority Broadcasters In Danger Of Extinction, Ask Geithner For Help

Huffington Post | Peter Drivas | Posted 05.25.2011 | Media

Fourteen minority broadcasters sent a letter to Treasury Secretary Timothy Geithner Monday asking for financial assistance. In the current economic s...

Geithner: Stimulus Working, Derivatives Blindsided Government

AP | ANNE FLAHERTY and JIM KUHNHENN | Posted 05.25.2011 | Business

WASHINGTON — Despite persistently high unemployment, Treasury Secretary Timothy Geithner said Friday the Obama administration's economic stimulu...

$328B Still Left In Bank Bailout Fund

AP | ANNE FLAHERTY | Posted 05.25.2011 | Business

WASHINGTON — The government has tens of billions of dollars left in the eye-popping $700 billion bank bailout fund created last fall, prompting ...

Treasury Skips "Cramdown" Hearing

The Washington Independent | Mike Lillis | Posted 05.25.2011 | Politics

Hoping to bring "cramdown" legislation back onto Congress' radar, a House Judiciary subpanel met this afternoon to re-examine whether bankruptcy judge...

Former Treasury Official Accuses Bush Of Inciting Panic | Jonathan Schwartz | Posted 05.25.2011 | Business

Back in March Phillip Swagel, who'd been Assistant Treasury Secretary under Hank Paulson, wrote a long article about the TARP bailout called "The Fina...

Treasury Announces List Of PPIP Fund Managers

AP | Martin Crutsinger and Daniel Wagner | Posted 05.25.2011 | Business

WASHINGTON (AP) -- The Treasury Department on Wednesday selected nine large investment managers to operate funds for a long-awaited program to buy tox...

Mortgage Aid Program Continues to Move Slowly

ProPublica | Posted 05.25.2011 | Business

To date, "over 200,000" of these loan modifications have been offered, according to the Treasury Department. That leaves millions of homeowners waiting their turn.

Arthur Delaney

Treasury Earns "C" Average For Bailout Transparency; Previously Flunked | Arthur Delaney | Posted 05.25.2011 | Business

Earlier this year the Treasury Department earned a big fat "F" from the U.S. Public Interest Research Group for the transparency of the $700 billion f...

Is the Financial and Mortgage Industry Smart Enough to Recognize the Lifeline Obama Has Thrown It?

Howard Glaser | Posted 05.25.2011 | Business
Howard Glaser

A closer look at the Obama plan reveals that the proposed overhaul is, by and large, in the best interests not only of consumers of financial products, but the financial companies themselves.

Goldman Sachs in Talks to Acquire Treasury Department

Andy Borowitz | Posted 05.25.2011 | Comedy
Andy Borowitz

According to a Goldman spokesperson, the merger between Goldman and the Treasury Department is "a good fit" because "they're in the business of printing money and so are we."

Elizabeth Warren's Relationship With The Treasury Is "Rocky"

Time | Sheelah Kolhatkar | Posted 05.25.2011 | Business

Don't let my politeness fool you," says Elizabeth Warren. The Harvard Law professor and head of the congressional panel monitoring the bank bailout ha...

Executive Pay: Treasury to Set Top Compensation At 7 Companies | STEPHEN LABATON | Posted 05.25.2011 | Business

WASHINGTON -- The Obama administration's sweeping new proposal to restrict executive pay is likely to be a humbling exercise for seven of the nation's...

Citigroup Bonuses: Bank Paying Millions To Attract Talent

The Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

LONDON -- Treasury Secretary Timothy Geithner is set to unveil his much-anticipated guidelines on investment banking pay this week. But he may be too ...

Payback's Not a Bitch: 10 TARP Recipients Get Green Light to Repay $68 Billion to Treasury

Jill Schlesinger | Posted 05.25.2011 | Business
Jill Schlesinger

For those who think that the government bailed out Wall Street, you're right and you're wrong. Yes, taxpayers extended a lifeline to ensure that the system didn't collapse, but in the case of these yet-to-be named players, taxpayers made out quite nicely.

With IMF Money, the War Supplemental Could Fail in the House

Robert Naiman | Posted 05.25.2011 | World
Robert Naiman

Why would Democrats vote to give $100 billion in U.S. tax dollars to the International Monetary Fund with no effective strings attached?

U.S. To Unveil Regulatory Reform Plan June 17: Reuters

Reuters | Karey Wutkowski and Rachelle Younglai | Posted 05.25.2011 | Business

The Obama administration plans to unveil on June 17 its sweeping plan to overhaul financial regulation, according to a source familiar with thinking a...

Geithner Talks China, Recession, Federal Deficit (VIDEO)

The Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

Treasury Secretary Timothy Geithner appeared on CNBC this morning and discussed the GM bankruptcy, economic relations with China, and the ballooning F...

Ryan Grim

Treasury Toxic Asset Program Rife With Conflicts Of Interest | Ryan Grim | Posted 05.25.2011 | Business

The hiring of private firms to provide "independent" advice to both the Treasury Department and the Federal Reserve raises concerns about potential co...

Obama Near Proposal To Revamp Financial Regulations | STEPHEN LABATON | Posted 05.25.2011 | Business

WASHINGTON -- The Obama administration will soon propose a comprehensive plan to expand the authority of the government to seize large troubled compan...

U.S. Hopes To Recoup GM Investment In 5 Years

Washington Post | Peter Whoriskey | Posted 05.25.2011 | Business

The United States would recover most of its planned $50 billion investment in General Motors within five years, according to a preliminary Treasury De...

Obama's Pick For Top Tax Position Withdraws

Bloomberg | Posted 05.25.2011 | Politics

Elizabeth Garrett withdrew as President Barack Obama's nominee to be his administration's top tax-policy official, continuing a vacancy at the Treasu...

Geithner: China Should Decrease Exports | MICHAEL M. PHILLIPS | Posted 05.25.2011 | Business

WASHINGTON -- U.S. Treasury Secretary Timothy Geithner heads to Beijing this weekend to urge Chinese leaders to fundamentally alter the export-oriente...

GM Borrows Another $4 Billion From Treasury

Yahoo Finance | Posted 05.25.2011 | Business

General Motors Corp. said Friday that it has borrowed an additional $4 billion from the Treasury Department, meaning the automaker has now accepted $1...