16
votes
submitted by grandie4 33 months ago, from online.wsj.com
The Federal Reserve significantly scaled back the size of the capital hole facing some of the nation's biggest banks shortly before concluding its stress tests, following two weeks of intense bargaining. In addition, according to bank and government officials, the Fed used a different measurement... More
16
votes
submitted by riverdrops 34 months ago, from online.wsj.com
U.S. stocks suffered an across-the-board decline Monday as investors remained jittery about the financial sector despite big profits at Bank of America. Denting a six-week rally, the Dow Jones Industrial Average was recently off 285 points, or 3.5%, to 7845. The Dow's Monday decline has it poised... More
20
votes
submitted by bafficio 35 months ago, from online.wsj.com
A central piece of President Barack Obama's plan to aid strapped homeowners is running into turbulence in the Senate as Democrats scramble to secure support from both parties' moderates. The bill, which has already passed the House, would allow judges to write down mortgage debt for people in... More
13
votes
submitted by agabriel 36 months ago, from online.wsj.com
Citigroup Inc. is in talks with federal officials that could result in the U.S. government substantially expanding its ownership of the struggling bank, according to people familiar with the situation. While the discussions could fall apart, the government could wind up holding as much as 40% of... More
21
votes
submitted by chiasma 36 months ago, from online.wsj.com
Treasury Secretary Timothy Geithner is considering a plan to help purge banks of their bad bets by partnering with the private sector to buy troubled assets, according to people familiar with the matter. The so-called "aggregator bank" would be seeded with some money from the $700 billion... More
17
votes
submitted by trippie48 37 months ago, from online.wsj.com
Reeling from previously undisclosed losses from its Merrill Lynch & Co. acquisition, Bank of America Corp. received an emergency capital injection of $20 billion from the Treasury, which will also backstop about $118 billion of assets at the bank, said people familiar with the plan. More
17
votes
submitted by riverdrops 37 months ago, from online.wsj.com
The final employment report for 2008 closed the books on a miserable year for U.S. workers with payrolls plunging last month by more than half a million, pushing the unemployment rate to a 16-year high. The economy lost 2.6 million jobs in 2008, government figures showed, the most since World War... More
20
votes
submitted by riverdrops 38 months ago, from online.wsj.com
Illinois lawmakers started impeachment proceedings Monday against Gov. Rod Blagojevich as he continued to show up for work in Chicago and firmed up his legal team to fight corruption charges. The state House of Representatives unanimously authorized a bipartisan committee to explore the... More
20
votes
submitted by chiasma 38 months ago, from online.wsj.com
President-elect Barack Obama's economic team is considering an economic-stimulus program that will be far larger than the two-year, half-trillion-dollar plan under consideration two weeks ago, according to people familiar with the team's thinking. The president-elect is expected to be briefed on... More
16
votes
submitted by agabriel 38 months ago, from online.wsj.com
The Detroit auto makers' best hope for federal aid may be legislation accelerating the release of $25 billion in already-approved government loans. One important roadblock to overcome: House Speaker Nancy Pelosi. More
16
votes
submitted by eooties 39 months ago, from online.wsj.com
The federal government agreed Sunday to take unprecedented steps to stabilize Citigroup Inc. by moving to guarantee close to $300 billion in troubled assets weighing on the bank's books, according to people familiar with details of the plan. Treasury has agreed to inject an additional $20 billion... More
20
votes
submitted by rodeox 40 months ago, from online.wsj.com
For someone running as the tribune of "change," Barack Obama showed again in last night's debate that he sure is comfortable with the status quo on health care. He continued his recent assaults on John McCain's health reform even though it is precisely the kind of plan that someone of Mr. Obama's... More
21
votes
submitted by animaniac 41 months ago, from online.wsj.com
Tightening polls, a more competitive money race than originally envisioned, and a McCain campaign invigorated by his VP pick are prompting a return to the old political map and a grudging concession by Obama campaign operatives that states once deemed winnable may be more of a long shot than thought More
20
votes
submitted by blueheat 41 months ago, from online.wsj.com
John McCain and Sarah Palin write: The bailout of Fannie Mae and Freddie Mac is another outrageous, but sadly necessary, step for these two institutions. Given the long-term mismanagement and flawed structure of these two companies, this was the only short-term alternative for ensuring that... More
19
votes
submitted by bafficio 41 months ago, from online.wsj.com
The Treasury Department is close to finalizing a plan to help shore up mortgage giants Fannie Mae and Freddie Mac, according to people familiar with the matter. Precise details of Treasury's plan couldn't be learned. The plan is expected to involve a creative use of Treasury's authority to... More
