Editorial Results (free)
1. Citigroup to Pay $7 Billion in Subprime Mortgages Probe
- Tuesday, July 15, 2014
WASHINGTON (AP) – Citigroup agreed Monday to pay $7 billion to settle a federal investigation into its handling of risky subprime mortgages, admitting to a pattern of deception that Attorney General Eric Holder said "shattered lives" and contributed to the worst financial crisis in decades.
2. Yellen Signals More Aggressive Stance Toward Banks
- Wednesday, April 16, 2014
WASHINGTON (AP) – The Federal Reserve may be about to turn more aggressive in its regulation of the financial system.
Fed Chair Janet Yellen suggested Tuesday that current regulatory rules might not be enough to prevent the kind of risk-taking that triggered the 2008 financial crisis and nearly toppled the entire banking system.
3. Congress Demands Answers on Delay in GM Recall
- Wednesday, April 02, 2014
WASHINGTON (AP) – The piece needed to fix a defective ignition switch linked to 13 traffic deaths would have cost just 57 cents, according to documents submitted by General Motors to lawmakers investigating why the company took 10 years to recall cars with the flaw.
4. Transcripts Show Fed at Times Slow to Grasp Crisis
- Monday, February 24, 2014
WASHINGTON (AP) – The Federal Reserve agonized in 2008 over how far to go to stop a financial crisis that threatened to cause a recession and at times struggled to recognize its speed and magnitude.
5. Madoff-Related Fraud to Cost JPMorgan $2.5 Billion
- Thursday, January 09, 2014
NEW YORK (AP) – For more than 15 years, there were signs something was amiss with what federal prosecutors in Manhattan call the "703 account" at JPMorgan Chase & Co.
6. Tech Firms Vie to Protect Personal Data, Profits
- Wednesday, December 11, 2013
SAN FRANCISCO (AP) – Even as Silicon Valley speaks out against the U.S. government's surveillance methods, technology companies are turning a handsome profit by mining personal data and peering into people's online habits.
7. US Businesses Worry About a Prolonged Shutdown
- Thursday, October 03, 2013
NEW YORK (AP) – As the government's partial shutdown enters a second day, most companies across the country are doing business as usual. Yet concern is rising that a prolonged shutdown would cause some work at private companies to dry up and consumers to lose faith in the U.S. economy.
8. Nasdaq Resumes Stock Trading After 3-Hour Outage
- Friday, August 23, 2013
NEW YORK (AP) – Trading on the Nasdaq stock exchange resumed Thursday after a three-hour halt caused by a technical glitch.
Other exchanges were operating normally.
Nasdaq trading resumed at 3:25 p.m. EDT after being halted shortly after noon because of problems with a quote dissemination system. The Nasdaq composite rose in afternoon trading.
9. JPMorgan Faces Criminal Probe Over Mortgage Bonds
- Friday, August 09, 2013
NEW YORK (AP) – The U.S. Justice Department is investigating JPMorgan Chase over mortgage-backed investments the bank sold in the run-up to the financial crisis.
The New York-based bank said in a regulatory filing that it is responding to investigations by the civil and criminal divisions of the U.S. Attorney's office for the Eastern District of California. In May, the civil division informed JPMorgan that it had "preliminarily concluded" that the bank had violated federal securities laws in connection with certain mortgage-backed investments it sold from 2005 to 2007.
10. Obama Nominates Pritzker, Froman for Economic Jobs
- Friday, May 03, 2013
WASHINGTON (AP) – President Barack Obama on Thursday chose two old friends with corporate executive experience for top posts on his economic team, naming longtime fundraiser Penny Pritzker as Commerce secretary and adviser Michael Froman as U.S. Trade Representative.
11. Brighter View on Jobs and Pay Lifts US Confidence
- Wednesday, May 01, 2013
WASHINGTON (AP) – Americans are more optimistic the job market is healing and will deliver higher pay later this year. That brighter outlook, along with rising home prices, cheaper gasoline and a surging stock market, could offset some of the drag from the recent tax increases and government spending cuts.
12. Minutes Show Fed Supports Stimulus Through Midyear
- Thursday, April 11, 2013
WASHINGTON (AP) – A majority of Federal Reserve policymakers want to continue extraordinary bond purchases to help boost the U.S. economy at least through the middle of the year, according to minutes from the Fed's last meeting released Wednesday.
13. Housing, Manufacturing Give US Economy Lift
- Wednesday, March 27, 2013
WASHINGTON (AP) – Gains in housing and manufacturing propelled the U.S. economy over the winter, according to reports released Tuesday, and analysts say they point to the resilience of consumers and businesses as government spending cuts kick in.
14. US Sues Standard & Poor's Over Pre-Crisis Mortgage Ratings
- Wednesday, February 06, 2013
WASHINGTON (AP) – The U.S. government says Standard & Poor's knowingly inflated its ratings on risky mortgage investments that helped trigger the 2008 financial crisis.
The credit rating agency gave high marks to mortgage-backed securities because it wanted to earn more business from the banks that issued the investments, the Justice Department alleges in charges filed in federal court in Los Angeles .
15. Top White-Collar Crime Prosecutor Getting SEC Job
- Friday, January 25, 2013
WASHINGTON (AP) – President Barack Obama will nominate former U.S. attorney Mary Jo White, who built a reputation prosecuting white-collar crimes, to lead the Securities and Exchange Commission, an agency that has a central role in implementing Wall Street reform.
16. Transcripts Show Fed Underestimated Crisis in 2007
- Monday, January 21, 2013
WASHINGTON (AP) – Federal Reserve officials in 2007 underestimated the scope of the approaching financial crisis and how it would tip the U.S. economy into the worst recession since the Great Depression, transcripts of the Fed's policy meetings that year show.
17. US Economy Hobbled by Weak Hiring, Manufacturing
- Friday, September 21, 2012
WASHINGTON (AP) – A trio of reports Thursday offered a reminder that the U.S. economy is struggling to grow and add jobs.
The number of people seeking unemployment benefits last week stayed near a level that signals only weak hiring in September. Manufacturing shrank for a fifth straight month in the Philadelphia region, a sign that weaker global growth has hurt demand for American-made goods. And a measure of future economy activity declined for the second time in three months.
18. Treasury Changes Fannie and Freddie Bailout Deal
- Monday, August 20, 2012
WASHINGTON (AP) – The government is changing the terms of its bailout agreement with Fannie Mae and Freddie Mac in a way that will shrink the holdings of the two mortgage giants more quickly and will require payment to the government of all quarterly profits the companies earn.
19. As Election Nears, New Rules are Facing Delays
- Tuesday, July 31, 2012
WASHINGTON (AP) – When the Obama administration agreed to set the first-ever federal limits on runoff in Florida, environmental groups were pleased. They thought the state's waters would finally get a break from a nutrient overdose that spawns algae, suffocates rivers, lakes and streams and forms byproducts in drinking water that could make people sick.
20. Goldman Manifesto Echoes Past Questions About Bank
- Monday, March 19, 2012
The young banker whose dramatic public resignation stung Goldman Sachs this week joins officials from every corner of the government in questioning whether the august investment house deals honestly with all its clients.
21. NYC Judge Rejects $285M SEC-Citigroup Agreement
- Tuesday, November 29, 2011
NEW YORK (AP) – A federal judge on Monday struck down a $285 million settlement that Citigroup reached with the Securities and Exchange Commission, saying he couldn't tell whether the deal was fair and criticizing regulators for shielding the public from the details of what the firm did wrong.
22. SEC Backs Banks Trading Ban
- Thursday, October 13, 2011
WASHINGTON (AP) — The Securities and Exchange Commission Wednesday backed a proposal to bar banks from trading for their own profit instead of their clients.
The SEC voted 4-0 to send the ban on so-called proprietary trading out for public comment. The rule was required under the financial regulatory overhaul.
23. Regulators Update Congress on Financial Overhaul
- Friday, May 13, 2011
WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke and other regulators gave Congress an update Thursday on their efforts to implement the biggest overhaul of America's financial rules since the Great Depression.
24. Bernanke Says Bank Overhaul Will Help Small Banks
- Thursday, March 24, 2011
WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke told a group of executives from smaller banks Wednesday that the financial overhaul will level the playing field for them with the industry's giants.
25. Higher Commodity Prices May Spur Inflation
- Monday, January 17, 2011
WASHINGTON (AP) — Rising wholesale prices for food and energy are putting pressure on manufacturers and retailers to pass higher costs to customers. It's a trend that could raise inflation in the United States and slow economies in Asia and Latin America.
26. Foreclosure Class Actions Pile Up Against Banks
- Thursday, November 18, 2010
NEW YORK (AP) – Foreclosure-fraud class action lawsuits are starting to pile up against major banks across the country, threatening a besieged industry with billions more in potential losses.
27. Tentative Consumer Deal Gives Auto Dealers a Break
- Wednesday, June 23, 2010
WASHINGTON (AP) — In a setback for the Obama administration, House and Senate negotiators assembling a massive financial regulation bill are on the verge of excluding auto dealers from direct oversight by a new consumer protection bureau.
28. SEC Chief: Early Findings Due in Trading Probe
- Wednesday, May 19, 2010
BOSTON (AP) - Federal investigators on Tuesday will submit preliminary findings into a sudden plunge in financial markets, and exchanges will propose new trading rules aimed at preventing another such crash, the nation's top securities regulator said.
29. Exchanges Agree in Principle to New Rules
- Tuesday, May 11, 2010
WASHINGTON (AP) — The leaders for major securities exchanges have agreed in principle to a uniform system of "circuit breakers" that would slow trading during periods of intense market volatility, U.S. regulators said Monday.
30. Insurers, Doctor-Owned Hospitals Get Late Help
- Tuesday, March 23, 2010
WASHINGTON (AP) - Tucked into President Barack Obama's health care bill are several 11th-hour changes that help major insurance companies and doctor-owned hospitals.
Among the beneficiaries, according to lobbyists and congressional aides, are Kaiser Permanente, the giant California-based insurance company; Geisinger Health Plan based in Pennsylvania; and doctor-owned health facilities in about a dozen states, including Ohio, Pennsylvania and Tennessee.
31. Fed Looking Into Insurance Contracts on Greek Debt
- Friday, February 26, 2010
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told lawmakers Thursday that the central bank is examining arrangements Goldman Sachs and other Wall Street firms have with Greece involving high-risk financial instruments.
32. FDIC May Need Help
- Thursday, August 27, 2009
NEW YORK (AP) – The government agency that guarantees you won't lose your money in a bank failure may need a lifeline of its own.
The coffers of the Federal Deposit Insurance Corp. have been so depleted by the epidemic of collapsing financial institutions that analysts warn it could sink into the red by the end of this year.
33. AP Source: AIG Consults Administration on Bonuses
- Monday, July 13, 2009
NEW YORK (AP) - American International Group Inc. is consulting with the federal government about its plans to pay millions of dollars in retention incentives and bonuses, a person familiar with the situation said.
34. GMAC Receives $7.5B in New Treasury Aid
- Tuesday, May 26, 2009
NEW YORK (AP) - 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.
To keep loans flowing to would-be buyers of GM and Chrysler vehicles and shore up its capital position, the Treasury Department agreed Thursday to provide GMAC with $7.5 billion in loans. The new aid marks the second time the government has stepped in to prop up the former lending unit of General Motors Corp.
35. Gov’t Plans Massive Citigroup Rescue
- Tuesday, November 25, 2008
WASHINGTON (AP) – Rushing to rescue Citigroup, the U.S. government agreed to shoulder hundreds of billions of dollars in possible losses at the stricken bank and to plow a fresh $20 billion into the company.
36. Bush Signs Jobless Benefits Extension
- Monday, November 24, 2008
WASHINGTON (AP) - With no end in sight to economic bad news, President George W. Bush on Friday ensured that millions of laid-off workers will keep getting their unemployment checks as the year-end holidays approach.
37. Paulson, Bernanke Defend $700 Billion Bailout
- Wednesday, November 19, 2008
WASHINGTON (AP) – Treasury Secretary Henry Paulson expressed fresh reservations Tuesday about tapping a $700 billion bailout pool to provide mortgage guarantees to help stem soaring U.S. home foreclosures.
38. Administration Speeds Up On Economic Problems
- Friday, November 07, 2008
WASHINGTON (AP) – At a time when most administrations are slowing down, the Bush White House appears to be speeding up – at least when it comes to getting the $700 billion financial rescue program up and running.
39. WaMu Biggest Bank to Fail In Nation’s History
- Monday, September 29, 2008
NEW YORK (AP) – Washington Mutual Inc., one of the nation’s largest banks, has collapsed under the weight of its enormous bad bets on the mortgage market.
The Federal Deposit Insurance Corp. seized WaMu on Thursday, and then sold the thrift’s banking assets to JPMorgan Chase & Co. for $1.9 billion.
40. Goldman Raises $5 Billion in Public Stock Offer
- Thursday, September 25, 2008
NEW YORK (AP) - Goldman Sachs Group Inc., seeking to improve not only its balance sheet but its standing with investors, has undertaken a huge capital-raising program that includes an investment of at least $5 billion from Warren Buffett and a common stock offering for another $5 billion.
41. HUD Secretary Quits Amid Housing Crisis
- Tuesday, April 01, 2008
WASHINGTON (AP) - HUD Secretary Alphonso Jackson, his tenure tarnished by allegations of political favoritism and a criminal investigation, announced his resignation Monday amid the wreckage of the national housing crisis.
42. Administration Announces Program To Help Embattled Homeowners
- Wednesday, February 13, 2008
WASHINGTON (AP) - Homeowners threatened with foreclosure would in some instances get a 30-day reprieve under an initiative the Bush administration announced Tuesday.
Dubbed "Project Lifeline," the program will be available to people who have taken out all types of mortgages, not just the high-cost subprime loans that have been the focus of previous relief efforts.
43. Fed Chairman Bernanke Offers Assurances on Mortgage Crisis
- Friday, September 21, 2007
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess.
44. Archived Article: Memos
- Wednesday, January 03, 2001
Charlotte Kelley was named marketing assistant for the Bartlett Performing Arts and Conference Center Charlotte Kelley was named marketing assistant for the Bartlett Performing Arts and Conference Center. She had worked as community relations/market...