Editorial Results (free)
1. APNewsBreak: Effort Building to Change US Pot Laws
- Tuesday, February 05, 2013
SEATTLE (AP) – An effort is building in Congress to change U.S. marijuana laws, including moves to legalize the industrial production of hemp and establish a federal pot tax.
While passage this year could be a longshot, lawmakers from both parties have been quietly working on several bills, the first of which Democratic Reps. Earl Blumenauer of Oregon and Jared Polis of Colorado plan to introduce Tuesday, Blumenauer told The Associated Press.
2. Why Geithner's Treasury Leadership Proved Divisive
- Friday, January 25, 2013
WASHINGTON (AP) – President Barack Obama has saluted the outgoing Timothy Geithner as one of the best U.S. Treasury secretaries ever. He's surely been among the most contentious.
Not since the Great Depression had an administration inherited so many grave financial threats at once. To many, Geithner deserves credit for helping steady the banking system and helping restore investor confidence. Yet his toughest critics say Geithner's policies consistently favored big banks over ordinary struggling Americans.
3. House GOP Passes Latest Anti-Regulation Bill
- Friday, July 27, 2012
WASHINGTON (AP) – The Republican-led House on Thursday passed legislation that would freeze major government regulations until the unemployment rate, now at 8.2 percent, drops to 6 percent or below.
4. GOP: Geithner Failed to Tell Congress About LIBOR
- Thursday, July 26, 2012
WASHINGTON (AP) – Republican lawmakers are criticizing Treasury Secretary Timothy Geithner for failing to alert Congress four years ago that banks could have been manipulating a key global interest rate.
5. Next Up for Dimon: Facing the Shareholders
- Tuesday, May 15, 2012
NEW YORK (AP) – JPMorgan Chase CEO Jamie Dimon came clean to stock analysts and accepted blame in a TV interview for a $2 billion trading mistake. Next he faces the shareholders, who have taken a big hit from the bank's blunder.
6. JPMorgan Loss Sets Off Call for Heavier Regulation
- Monday, May 14, 2012
WASHINGTON (AP) – A surprise $2 billion trading loss by a division of JPMorgan Chase triggered calls Friday for tougher regulation of banks three years after their near-death experience in the financial crisis.
7. House Passes Bipartisan Bill to Help Startups
- Friday, March 09, 2012
WASHINGTON (AP) – Showing that they can on occasion work together, House lawmakers on Thursday overwhelmingly passed a package of bills making it easier for small businesses and startups to raise the capital they need to grow and hire new workers.
8. Tenn. Tea Party Disbands, 1 of Several in State
- Monday, January 09, 2012
NASHVILLE (AP) – The Tennessee Tea Party, one of several tea party groups in the state, is disbanding after three years.
In a letter to members, leaders Tami and Robert Kilmarx say they have realized the tea party is not a vehicle that will move the United States to what they call "a healthy relationship with God," according to WPLN-FM (http://bit.ly/z6EEeu).
9. US Proposes New, Tougher Rules for Big Banks
- Wednesday, December 21, 2011
NEW YORK (AP) – The Federal Reserve on Tuesday said the largest U.S. banks and financial companies should hold extra cash on their balance sheets to cushion themselves against financial crises.
10. Democratic Rep. Barney Frank Announces Retirement
- Tuesday, November 29, 2011
NEWTON, Mass. (AP) – Democratic Rep. Barney Frank of Massachusetts announced his retirement Monday effective at the end of next year, closing out a congressional career of more than three decades capped by passage of legislation imposing new regulations on Wall Street.
11. NYT Editor: Financial Crisis is Human Failure
- Monday, November 21, 2011
The only applause line Gretchen Morgenson got during her presentation to the Economic Club of Memphis came during a question-and-answer session at the end.
Morgenson, a columnist and assistant business editor for The New York Times, spoke to the club Thursday, Nov. 17, in the Tower Room atop Clark Tower. She’s recently published a book on the financial crisis, “Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon.”
12. Morgan Keegan Sees Recent Exit of Advisers
- Thursday, September 22, 2011
Morgan Keegan & Co. Inc. has lost some advisers over the last several days, some of them taking a big volume of business with them while the investment banking firm continues to try and resolve the future of its ownership.
13. Morgan Keegan Advisers Leave Firm
- Wednesday, September 21, 2011
In recent days, teams of Morgan Keegan & Co. Inc. advisers either are talking about leaving or have already begun departing the Memphis-based investment firm, for which sale talks continue to drag on.
14. Dem: US Credit Down Because of Military Spending
- Tuesday, August 09, 2011
WASHINGTON (AP) – The senior Democrat on the House Financial Services Committee says the biggest reason the United States is seeing its credit downgraded is that it spends too much money being "the military policemen of the world."
15. House Tries to Shackle New Consumer Agency
- Friday, July 22, 2011
WASHINGTON (AP) – As the new Consumer Financial Protection Bureau officially opened its doors Thursday, the House was considering legislation that would restrict its power.
Republican sponsors of the bill say they are simply trying to promote transparency and accountability in the agency that was created a year ago as part of President Barack Obama's overhaul of the rules governing financial markets.
16. GOP Uses Budget, Other Tools to Sap Financial Law
- Wednesday, July 06, 2011
WASHINGTON (AP) – Congressional Republicans are greeting the one-year anniversary of President Barack Obama's financial overhaul law by trying to weaken it, nibble by nibble.
Wary of attempting to dismantle the entire statute and being portrayed as Wall Street's allies – banks are among the nation's most unpopular institutions – GOP lawmakers are attacking corners of it. They can't prevail because they don't control the White House or Senate, but they may be able to force some compromises on agency budgets, pressure regulators and influence some of Obama's nominations.
17. Key House Republican Praises Obama Housing Plan
- Wednesday, March 02, 2011
WASHINGTON (AP) – The Obama administration's plan to gradually dissolve ailing housing giants Fannie Mae and Freddie Mac and to shrink the government's role in the mortgage market drew praise from House Republicans on Tuesday. The GOP chairman of the House Financial Services Committee called the proposal a good starting point for bipartisan negotiations over a housing overhaul.
18. Republicans: Report on Financial Crisis was Biased
- Thursday, February 17, 2011
WASHINGTON (AP) – Republicans criticized a government report on the causes of the 2008 financial crisis as biased and political on Wednesday. Democrats fired back that Republicans want to roll back federal regulations of the financial industry.
19. House Democrats Reject Tax Plan Without Changes
- Friday, December 10, 2010
WASHINGTON (AP) – House Democrats voted Thursday to reject President Barack Obama's tax deal with Republicans in its current form, but it was unclear how significantly the package might need to be changed.
20. Homeownership Stays at Lowest Level in a Decade
- Wednesday, November 03, 2010
WASHINGTON (AP) – The nation’s homeownership rate remained at its lowest in more than a decade, hampered by a rise in foreclosures and weak demand.
The percentage of households that owned their homes was unchanged at 66.9 percent in the July-September quarter, the Census Bureau said Tuesday. That’s the same as the April-June quarter.
21. Even in Liberal Bastions, GOP Sees Election Chance
- Wednesday, October 20, 2010
HYANNIS PORT, Mass. (AP) — In the congressional district that's home to the Kennedy family compound, a Kennedy public skating rink and a Kennedy museum, the heart of liberalism is beating uneasily.
22. Gov't Says Banks Should Share Fannie, Freddie Costs
- Thursday, September 16, 2010
WASHINGTON (AP) – The nation's largest banks have an obligation to pay some of the cost for bailing out mortgage buyers Fannie Mae and Freddie Mac because they sold them bad mortgages, a government regulator said Wednesday.
23. Simmons Helps Shape Oversight of Financial Advisers
- Friday, August 06, 2010
When the finance reform bill became law in July, registered investment advisers throughout the country could thank Memphian Cathy Simmons for a notable absence.
24. Obama Signs Sweeping Financial Overhaul Into Law
- Thursday, July 22, 2010
WASHINGTON (AP) – Reveling in victory, President Barack Obama on Wednesday signed into law the most sweeping overhaul of financial regulations since the Great Depression, a package that aims to protect consumers and ensure economic stability from Main Street to Wall Street.
25. Banking Regulation Clears Senate Hurdle
- Friday, July 16, 2010
A sweeping crackdown on banking and high-finance broke through a Senate Republican blockade Thursday, setting the stage for Congress to send the massive regulation overhaul to President Barack Obama.
26. Lawmakers Consider Changes to Bank Bill's Fee
- Wednesday, June 30, 2010
WASHINGTON (AP) – House and Senate negotiators who worked out a deal last week on overhauling financial regulations scrambled Tuesday to change a bank fee that has drawn opposition from key Republicans and endangered its passage.
27. Obama Claims Victory In Financial Overhaul Deal
- Monday, June 28, 2010
WASHINGTON (AP) – House and Senate negotiators reached an agreement Friday on legislation that redefines federal oversight of Wall Street and, following the signing of the health care act in March, adds a milestone to mark the Obama presidency.
28. 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.
29. Consumer Watchdog Eyes Lenders in New Bank Rules
- Monday, May 24, 2010
Consumer watchdog eyes lenders in new bank rules
JIM KUHNHENN,Associated Press Writer
WASHINGTON (AP) — Congress is getting tougher on both borrowers and lenders blamed for inflating a housing bubble that, when it popped, plunged the nation into a severe recession two years ago.
30. Gov't Unveils Plan to Shrink Some Home Loans
- Monday, March 29, 2010
WASHINGTON (AP) — Under pressure to stem the foreclosure crisis, the Obama administration launched a plan Friday to reduce the amount some troubled borrowers owe on their home loans and give jobless homeowners a temporary break.
31. Bernanke: Record-Low Rates Needed to Aid Economy
- Friday, March 26, 2010
WASHINGTON (AP) — Record-low interest rates are still needed to rev up the economic recovery, Federal Reserve Chairman Ben Bernanke told Congress on Thursday.
Bernanke, in testimony to the House Financial Services Committee, essentially repeated the rationale behind the Fed's decision last week to hold rates near zero. He cited still-fragile economic conditions, and noted that inflation is low, which gives the Fed leeway to keep rates at rock-bottom levels.
32. Lawmaker is Working to Improve Loan Modifications
- Monday, March 08, 2010
WASHINGTON (AP) - A key lawmaker is working with banks, regulators and the Obama administration on a new way to boost the government's struggling foreclosure prevention effort by encouraging banks to reduce the total amount borrowers owe.
33. Lawmaker Urges Work On Small Business Loans
- Monday, March 01, 2010
A key House Democrat is urging the Obama administration to work with lawmakers on a measure that would send bailout money directly to small businesses rather than through banks.
Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said Friday, “I would urge the administration to work closely” with the head of the Small Business Committee to agree on legislation.
34. Geithner: No Change to Fannie, Freddie Until 2011
- Thursday, February 25, 2010
WASHINGTON (AP) - The Obama administration will wait until 2011 to propose an overhaul of mortgage giants Fannie Mae and Freddie Mac, U.S. Treasury Secretary Timothy Geithner said Wednesday, arguing that he wanted to put some distance between a new system and what he called "the worst housing crisis in generations."
35. Bernanke: Record-Low Rates Still Needed
- Thursday, February 25, 2010
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that record-low interest rates are still needed to ensure that the economic recovery will last and to help ease the sting of high unemployment.
36. Obama Tells Banks: 'We Want Our Money Back'
- Friday, January 15, 2010
WASHINGTON (AP) - President Barack Obama told banks Thursday they should pay a new tax to recoup the cost of bailing out foundering firms at the height of the financial crisis. "We want our money back," he said.
37. Black Lawmakers Grow Impatient with White House
- Friday, December 11, 2009
WASHINGTON (AP) - Black lawmakers who have largely held their tongues during President Barack Obama's first year in office are stepping up their demands that the nation's first black president do more for minority communities hit hardest by the recession.
38. Lawmakers Impatient with Obama Mortgage Plan
- Wednesday, December 09, 2009
WASHINGTON (AP) - Only one in three homeowners who have signed up for the Obama administration's mortgage relief plan have sent back the necessary paperwork, highlighting continuing problems for the government's effort to stem the foreclosure crisis.
39. Lawmakers Seek Fed Audit after Critical AIG Report
- Thursday, November 19, 2009
WASHINGTON (AP) - A group of House Democrats are stepping up demands for greater transparency from the Federal Reserve after reports that the Fed mishandled the bailout of insurance giant American International Group Inc.
40. Frank Floats Loan Plan for Unemployed Homeowners
- Tuesday, November 17, 2009
FALL RIVER, Mass. (AP) - Massachusetts Rep. Barney Frank is floating a proposal to use the interest the government collects from the federal financial bailout fund to give loans to unemployed homeowners struggling to pay the mortgage.
41. US Senate Democrats Move to Curb Fed's Powers
- Wednesday, November 11, 2009
WASHINGTON (AP) - Senate Democrats on Tuesday proposed stripping the U.S. Federal Reserve of its supervisory powers and creating instead three new federal agencies to police banks, protect consumers and dismantle failing institutions.
42. Democrats Want to Curb Banks' Overdraft Fees
- Monday, November 02, 2009
WASHINGTON (AP) - Senior congressional Democrats say legislation is still needed to limit how lenders charge customers who overspend on their accounts, even though some big banks have already curbed high-fee overdraft programs.
43. Geithner: Legislation Won't Lead to More Bailouts
- Friday, October 30, 2009
WASHINGTON (AP) - U.S. Treasury Secretary Timothy Geithner said Thursday that giving the government the power to dismantle mammoth financial firms like Lehman Brothers will prevent future bailouts.
44. US House Panel Approves Consumer Protection Agency
- Friday, October 23, 2009
WASHINGTON (AP) – The House Financial Services Committee voted Thursday to create a federal agency devoted to protecting U.S. consumers from predatory lending, abusive overdraft fees and unfair rate hikes.
45. Bernanke Weighs Faster Credit Card Protection
- Thursday, October 22, 2009
WASHINGTON (AP) - Moving up the effective date of tough new regulations to protect credit card customers from sudden interest rate increases could be a double-edged sword, according to Federal Reserve Chairman Ben Bernanke.
46. US House Panel Votes to Regulate Derivatives
- Friday, October 16, 2009
WASHINGTON (AP) - A U.S. House of Representatives' panel voted Thursday to regulate for the first time privately traded derivatives, the kind of exotic financial instruments that helped bring down Lehman Brothers and nearly toppled American International Group.
47. Frank Pushing Quick Movement on Credit Card Bill
- Friday, October 09, 2009
WASHINGTON (AP) - Rep. Barney Frank, the tough-talking liberal ushering through a major rewrite of rules governing Wall Street, sounded a warning shot on Thursday to big banks: Start playing nice or Congress will make your life even more difficult.
48. Regulators Seek Tighter Derivatives Oversight
- Thursday, October 08, 2009
As two federal regulators asked a House panel to tighten proposed legislation imposing new oversight on derivatives, Republican lawmakers contended the measure already could eliminate jobs and stifle companies’ ability to manage risks.
49. Bernanke Subdued On Fed’s Consumer Protection Role
- Friday, October 02, 2009
WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke told a skeptical Congress Thursday that the central bank is “well suited” to oversee colossal financial companies whose failure could endanger the entire economy.
50. Fresh Bailouts for Smaller Banks Being Weighed
- Monday, September 28, 2009
WASHINGTON (AP) - Federal regulators and lawmakers are weighing a fresh round of bailouts for banks that were deemed too small or too risky to qualify for earlier aid.
Representatives from the U.S. Treasury Department, Federal Deposit Insurance Corp. and House Financial Services Committee discussed the plan by phone Thursday, said California Bankers Association Chairman Dan Doyle, who was on the call.
51. Proposal Would Limit Scope of New Oversight Agency
- Thursday, September 24, 2009
WASHINGTON (AP) — Ceding ground amid growing business opposition, the Obama administration on Wednesday signaled a willingness to exempt retailers, real estate brokers, lawyers, auto dealers, cable companies and accountants from oversight of its proposed Consumer Financial Protection Agency.
52. Senate Bill Could Weaken the Fed
- Tuesday, September 22, 2009
WASHINGTON (AP) - Consensus is building in the Senate for legislation that would significantly weaken the Federal Reserve by stripping its power to oversee banks and hand that job to a single federal bank regulator.
53. Mass. Senate Delays Debate on Kennedy Interim Bill
- Monday, September 21, 2009
BOSTON (AP) - Massachusetts Republicans temporarily blocked Senate debate Friday on a bill allowing Gov. Deval Patrick to name an interim appointment to the U.S. Senate seat left vacant by the death of Edward Kennedy.
54. Focus on Main St. as Firms Fight Wall St. Rules
- Wednesday, September 16, 2009
WASHINGTON (AP) - Recognizing that many people see them as villains, the financial industry and big business groups working to stop key elements of President Barack Obama's financial overhaul are taking a new tack.
55. Senate Shakeup Won't Change Liberal Control
- Thursday, September 10, 2009
WASHINGTON (AP) - An anticipated shake-up in Senate leadership resulting from Ted Kennedy's death won't change a central tenet of this Congress: Liberals are still very much in charge.
56. US House Votes to Restrict Wall Street Pay
- Monday, August 03, 2009
WASHINGTON (AP) - The House of Representatives voted Friday to slap restrictions on how Wall Street executives are paid after nine banks that took U.S. government aid rewarded thousands of their employees with bonuses topping $1 million each.
57. Democrat Threatens Banks to Stop Foreclosures
- Thursday, July 30, 2009
WASHINGTON (AP) - A senior House Democrat threatened banks Wednesday that if they don't volunteer to save more homeowners from foreclosure, Congress will make them.
In a sternly worded statement, Rep. Barney Frank said Congress will revive legislation that would let bankruptcy judges write down a person's monthly mortgage payment if the number of loan modifications remains low.
58. US Financial Oversight Reform Debated
- Monday, July 27, 2009
WASHINGTON (AP) – U.S. Treasury Secretary Timothy Geithner said Friday that a new agency focused on protecting U.S. consumers is needed because the mission currently is too scattered among various regulators.
59. Bernanke Says Fed Can Take on Supercop Role
- Wednesday, July 22, 2009
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke ran into skepticism Tuesday from lawmakers wary of expanding the Fed's duties to police big financial companies. They argued that the Fed failed to spot problems that led to the financial crisis in the first place.
60. Some Bailout Firms Up Lobbying Spending in Q2
- Wednesday, July 22, 2009
WASHINGTON (AP) - As Congress spent much of the last three months looking at ways to tighten regulations on financial institutions, some of the biggest recipients of the government's $700 billion bailout increased their spending on influencing legislators.
61. Geithner: Stimulus is Working and on Right Path
- Monday, July 13, 2009
WASHINGTON (AP) - Despite persistently high unemployment, Treasury Secretary Timothy Geithner said Friday the Obama administration's economic stimulus plan is on the "expected path."
"There's been substantial improvements in arresting what was the worst recession globally we've seen in generations," Geithner told lawmakers Friday.
62. Administration Sends Congress Consumer Legislation
- Wednesday, July 01, 2009
WASHINGTON (AP) - The Obama administration sent Congress legislation Tuesday to create a new Consumer Financial Protection Agency designed to protect Americans from unscrupulous practices and make financial products easier to understand.
63. Obama Spells Out Major Financial Rules Overhaul
- Thursday, June 18, 2009
WASHINGTON (AP) - President Barack Obama proposed sweeping new "rules of the road" for the nation's financial system Wednesday, casting the changes as a critically important response to the economic crisis and the greatest regulatory transformation since the Great Depression.
64. Lawmakers Fear Turning Fed Into Regulatory Monster
- Wednesday, June 17, 2009
WASHINGTON (AP) - Many lawmakers fear President Barack Obama's plan to prevent another financial meltdown might end up turning the Federal Reserve into an all-powerful monster – a friction that could slow down a major overhaul of banking and market regulations.
65. US Gov’t Seeks to Rein in Executive Pay
- Friday, June 12, 2009
WASHINGTON (AP) – The Obama administration is taking a half-step toward taming U.S. executive pay. Some lawmakers prefer a fuller stride.
Democrats on the House Financial Services Committee said Thursday the administration’s efforts to hector the private sector into reining in executive pay might not go far enough.
66. US to Issue New Executive Pay Curbs
- Thursday, June 11, 2009
WASHINGTON (AP) – The Obama administration will give a new U.S. Treasury official power to reject executive pay packages at firms that receive U.S. government assistance and wants legislation that would seek to tame compensation across the corporate world, an administration official said Wednesday.
67. FDIC Chief Calls for ‘Systemic Risk Council’
- Thursday, May 07, 2009
WASHINGTON (AP) – The head of the Federal Deposit Insurance Corp. says new powers are needed to oversee companies that pose financial risks to the economy, an authority that could be shared by the FDIC and other regulators.
68. Geithner Seeks New Powers Over Financial Companies
- Wednesday, March 25, 2009
WASHINGTON (AP) - Treasury Secretary Timothy Geithner asked Congress on Tuesday for broad new powers to regulate nonbank financial companies like troubled insurer American International Group whose collapse could jeopardize the economy.
69. Bernanke Says Exec Compensation Must be Monitored
- Monday, March 23, 2009
PHOENIX (AP) - Federal Reserve Chairman Ben Bernanke on Friday called for banking supervisors to pay "close attention" to compensation practices as they examine the soundness of financial institutions.
70. Frank Says Gov't Should Stop Fannie, Freddie Bonus
- Monday, March 23, 2009
WASHINGTON (AP) - A key lawmaker is calling on the federal government to cancel retention bonuses for hundreds of employees at Fannie Mae and Freddie Mac amid public outrage over payouts to executives at companies receiving federal bailouts.
71. All About the Bonuses: AIG Head Says Some Returned
- Thursday, March 19, 2009
WASHINGTON (AP) - Under intense pressure from the Obama administration and Congress, the head of bailed-out insurance giant AIG declared Wednesday that some of the firm's executives have begun returning all or part of bonuses totaling $165 million.
72. AIG CEO Says Employees Starting to Return Bonuses
- Thursday, March 19, 2009
WASHINGTON (AP) – The head of battered insurance giant AIG told Congress on Wednesday that “we’ve heard the American people loudly and clearly” in their rage over executive bonuses and appealed to employees to voluntarily return at least half of the money.
73. AIG Bonuses Won't Stand, Dem Senators Declare
- Wednesday, March 18, 2009
WASHINGTON (AP) - Talking tougher by the hour, livid Democrats confronted beleaguered insurance giant AIG with an ultimatum Tuesday: Give back $165 million in post-bailout bonuses or watch Congress tax it away with emergency legislation.
74. Obama: AIG Can't Justify 'Outrage' of Bonuses
- Tuesday, March 17, 2009
WASHINGTON (AP) - President Barack Obama on Monday issued a blistering attack on American International Group and pledged to stop the struggling insurance and investment giant from paying out millions in executive bonuses.
75. Judge: Will Rule in Week on Merrill Bonus Case
- Monday, March 16, 2009
NEW YORK (AP) - A judge said Friday he will decide within a week whether Bank of America Corp. has to turn over a list of performance bonuses given to the 200 highest paid employees of Merrill Lynch & Co.
76. BofA's CEO Lewis Subpoenaed by Cuomo
- Monday, February 23, 2009
CHARLOTTE, N.C. (AP) - Bank of America Corp. Chief Executive Ken Lewis has received a subpoena from the New York state attorney general's office in connection with Merrill Lynch's payment of employee bonuses before the companies combined on Jan. 1.
77. JPMorgan, Citi Halt Foreclosures
- Monday, February 16, 2009
JPMorgan Chase & Co. and Citigroup Inc. are halting home foreclosures while the Obama administration develops its plans to help the U.S. housing market.
78. Fees Likely as Wells Fargo Bails Out on Vegas Trip
- Thursday, February 05, 2009
WASHINGTON (AP) - Wells Fargo & Co. is likely on the hook for hefty cancellation fees after abruptly scrapping its upcoming retreats to Las Vegas casinos.
79. Fed Moves to Help Distressed Homeowners
- Thursday, January 29, 2009
WASHINGTON (AP) – With foreclosures spiking, the Federal Reserve is taking steps to try to keep some distressed borrowers in their homes.
Under the program, the Fed has a number of options to provide relief, including lowering the amount the homeowner owes on the mortgage, reducing the interest rate or lengthening the term of the loan.
80. GM: Worst-Case Scenario Calls for More Gov't Money
- Tuesday, January 13, 2009
DETROIT (AP) - General Motors Corp.'s chief operating officer wouldn't say Monday whether GM will need all $18 billion in government loans it sought from Congress, but he said GM's worst-case scenario would require more than the $13.4 billion already allocated by the Treasury Department.
81. Kashkari: US Financial System 'More Stable'
- Friday, January 09, 2009
WASHINGTON (AP) - The head of the government's $700 billion financial rescue program said Thursday that the effort has made the United States' financial system more stable.
Neel Kashkari, the assistant treasury secretary in charge of the bailout program, said the program had made remarkable progress since it was passed by Congress on Oct. 3.
82. Economy Declined 0.5 Percent in Third Quarter
- Friday, December 26, 2008
WASHINGTON (AP) - As the longest recession in a quarter century intensifies, analysts believe the small decline in economic activity in the third quarter has worsened significantly in the current fourth quarter.
83. Key Democrat Wants Second $350B Released
- Wednesday, December 24, 2008
A key House Democrat is pushing to get the second half of the $700 billion rescue fund released next month, before President-elect Barack Obama is inaugurated, in part to help stimulate the economy.
84. AP Study Finds $1.6B Went to Bailed-Out Bank Execs
- Tuesday, December 23, 2008
Banks that have their hands out in Washington this year were handing out multimillion-dollar rewards to their executives last year.
The 116 banks that so far have received taxpayer dollars to boost them through the economic crisis gave their top tier of executives nearly $1.6 billion in salaries, bonuses and other benefits in 2007, an Associated Press analysis found.
85. Paulson: Congress Should Release More Funds
- Monday, December 22, 2008
WASHINGTON (AP) – Treasury Secretary Henry Paulson said Friday that Congress will need to release the last half of the $700 billion rescue fund because the first $350 billion has been committed.
86. Oversight Panel Questions Treasury On Bailout Plan
- Thursday, December 11, 2008
WASHINGTON (AP) – A congressional panel reviewing the government’s $700 billion rescue of the financial sector questioned how the money is being spent and whether it’s helping homeowners avoid foreclosure.
87. Bush, Hill Leaders: Job Losses Argue for Auto Help
- Monday, December 08, 2008
WASHINGTON (AP) - President George W. Bush and congressional leaders seized on the latest grim unemployment data Friday to try to fire up lukewarm support on Capitol Hill for bailing out U.S. automakers. But they clashed anew over terms of the rescue plan and the source of any aid.
88. Auditors Fault Treasury Policing of Bailout Funds
- Thursday, December 04, 2008
WASHINGTON (AP) – Lawmakers want the U.S. Treasury Department to insist that banking institutions sharing in the $700 billion bailout comply with limits Congress imposed on executive salaries and use the money for its intended purposes.
89. Cohen Recognized As Influential Jewish-American
- Friday, November 28, 2008
U.S. Rep. Steve Cohen, D-Memphis, has been recognized as one the 50 most influential Jewish-Americans in the “Forward 50” special edition of Jewish newspaper The Forward.
90. 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.
91. Congress' Democratic Leaders Support Loan Plan
- Wednesday, November 19, 2008
WASHINGTON (AP) - Democratic leaders in Congress on Tuesday threw their weight behind a proposal to use $24 billion in government funds to help struggling borrowers, a move opposed by the Bush administration.
92. Democrats at Work to Tap Bailout for Automakers
- Friday, November 14, 2008
WASHINGTON (AP) – Congressional Democrats are marshaling support for a rescue package to pump $25 billion in emergency loans to U.S. automakers in exchange for a government ownership stake in Detroit's car companies.
93. Pelosi Supports New Help for Ailing US Automakers
- Thursday, November 13, 2008
WASHINGTON (AP) - Democratic congressional leaders want Congress to work in a lame duck session on a financial bailout for the troubled U.S. auto industry, which is suffering under the weight of poor sales, tight credit and a sputtering economy.
94. Lawmakers Likely to Draft Tougher Finance Rules
- Wednesday, October 22, 2008
WASHINGTON (AP) – Lawmakers waded gingerly Tuesday into a complex debate over how to overhaul the regulatory structure overseeing the U.S. financial system, promising stricter rules governing risky financial products that are seen as responsible for the current financial crisis.
95. Shocking Defeat for Econ Bailout; Record Stock Dip
- Tuesday, September 30, 2008
WASHINGTON (AP) – In a stunning vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it. The Dow Jones industrials plunged nearly 800 points, the most ever for a single day.
96. Financial Bailout Agreement Reached
- Friday, September 26, 2008
WASHINGTON (AP) – Warned of a possible financial panic, key Republicans and Democrats reported agreement in principle Thursday to a $700 billion bailout of the financial industry and said they would present it to the Bush administration in hopes of a vote within days.
97. Exec Pay Limits Gain Support as Bailout Questioned
- Thursday, September 25, 2008
WASHINGTON (AP) - Executives whose companies get a piece of the $700 billion government bailout will have their pay packages strictly limited under proposals that are broadly supported by both Republicans and Democrats in Congress.
98. Paulson Urges Quick Action on $700B Bailout
- Tuesday, September 23, 2008
WASHINGTON (AP) – The Bush administration insisted Sunday that Congress must move quickly to approve what one lawmaker called the “mother of all bailouts” – a $700 billion proposal to buy a mountain of bad mortgage debt in an effort to unfreeze the nation’s credit markets.
99. Congress Weighs New Regulations Amid Crisis
- Wednesday, September 17, 2008
WASHINGTON (AP) - A Congress criticized for being asleep at the switch while financial problems festered is eyeing tough new regulations for investment banks and a new government role in the mortgage market as Wall Street reels from another round of collapses.
100. Different Times Call for Changes In Mortgage Biz
- Monday, September 15, 2008
Officially, two weeks remain before seller-assisted down payment programs disappear, though lenders already have stopped submitting them to the Federal Housing Administration because the paperwork on those programs takes so long they can no longer meet the Oct. 1 deadline.