Feeds
The Treasury Department said Monday another large investment company has raised sufficient capital to join the government in buying toxic bank assets to help spur more normal lending.
Nevada gambling regulators will get a share of money seized from a high-ranking Japanese organized crime figure.
Woodmen of the World wants U.S. Bank to pay nearly $30 million for investing some of the insurer's assets in risky mortgage-backed securities that plummeted in value instead of the conservative investments the bank promised.
Investment company RLJ Western Asset Management LP has raised enough money to join with the government in buying toxic assets held by banks, the Treasury Department said Thursday.
Two more large investment companies have together raised enough money to join with the government in buying toxic assets held by banks so they can resume more normal lending to support an economic recovery.
The Treasury Department says it is freezing the assets of a German national and al-Qaida member believed to be operating on the border of Afghanistan and Pakistan.
Three more large investment firms have raised sufficient capital to participate in the joint partnership with the government to purchase toxic assets from banks.
The Federal Deposit Insurance Corp. on Wednesday named the first winning bidder under a test of the government's program to back private purchases of toxic mortgage assets and get them off banks' balance sheets.
A writing desk, film cameras and Golden Globe awards belonging to Swedish film legend Ingmar Bergman are attracting a huge interest from collectors as they go up for auction in Stockholm.
The federal government wrongly froze the assets of an Ohio-based charity it suspected of having ties to the militant Islamic group Hamas because it acted without giving the organization any warning, a federal judge ruled.
Last week's news on the slow pace of mortgage relief for millions of struggling homeowners generated a flood of mail from readers looking for help. The Answer Desk, by John W. Schoen.
The bundles of bad home mortgages that panicked the Bush and Obama administrations have turned out to be not so toxic for the financial industry after all.
When the nation's economy slumped, so did a high-profile plan for Chicago to make money by privatizing one of its airports. The $2.5 billion deal never got off the ground.
The big banks got through the government's "stress tests" with only minor bruising. But a bigger test awaits them: Getting rid of the bad assets that helped ignite the financial crisis in the first place.
Attorneys for Texas billionaire R. Allen Stanford has asked a judge to release $10 million of his seized assets so he can pay for a defense against accusations of running a massive Ponzi scheme.
A fresh effort to end the paralysis in lending was launched Monday by the Obama administration, which will join with investors to buy up around $500 billion in soured assets from banks.
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.
A top adviser to President Barack Obama says the government plans to leverage $100 billion to ease the fallout on the nation's financial system from banks' bad assets.
Bernard Madoff and his wife had $823 million in assets at the end of last year, including $22 million in properties stretching from New York to the French Riviera, a $7 million yacht and a $2.2 million boat named "Bull," according to a document his lawyers filed Friday.
The comprehensive overhaul of the government’s financial bailout plan announced Tuesday is designed to succeed where other plans have failed by unifying a sometimes piecemeal set of policies. But as outlined by Treasury Secretary Tim Geithner, the plan was disappointing in its dearth of detail.
The latest reading on the economy showed that the gross domestic product shrank at a rate of 3.8 percent in the fourth quarter, the worst result since 1982.
The Federal Reserve has cut rates to zero and flooded the financial system with money. Congress has spent $350 billion — and committed another $350 billion — to shore up the battered banking industry. Banks have already booked roughly half a trillion in losses, and analysts say they could be looking at a half a trillion more.
Bernard Madoff gave the Securities and Exchange Commission a list of his personal assets Wednesday, but investors may have to wait to learn whether the filing contained any clues as to the whereabouts of their missing billions.
Investigators may get a clue Wednesday into how much money might be available for victims in the Bernard Madoff scandal.
Minnesota is deep in the hole financially, but the state still owns a premier golf resort, a sprawling amateur sports complex, a big airport, a major zoo and land holdings the size of the Central American country of Belize.
Ok, Now It's Done. MySpace Music Completes Acquisition Of iMeemMySpace Music has completed its acquisition of most of the assets of music service iMeem.
Why Google Wave Sucks, And Why You Will Use It AnywayFrom the article: Google Wave is a hot topic at the moment. The ambitious group collaboration and micro-messaging platform started rolling out in beta via an initial batch of 100,000 invitations two months ago. Many people still want invitations.
Madoff Billionaire Found Dead in Palm Beach Swimming PoolThe death of Jeffry Picower, accused of profiting more than $7 billion from the investment schemes of his longtime friend Bernard Madoff, will make it more difficult for suing investors to recoup their money, attorneys said.
RFI - Who will get Bongo's cash?While the people of Gabon mourn the death of their President and await his funeral, others are asking themselves what will happen to the criminal case brought against Omar Bongo in relation to alleged stolen assets, and a string of luxurious apartments, bank accounts and cars.
Seized banks' odds and ends can wind up on auction blockWhoa, the taxpayers stand to recover quite a bit of loose change as assets of failed banks go to online auctions.
Russia Dumps US Dollar as basic reserve currencyThe US dollar is not Russia's basic reserve currency anymore.
Geithner's gift to Wall StreetGeithner unveils his new investment plan for the toxic assets. How do you view his plan? Some called the plan 'shockingly good' and it almost appears too good to be true.
Stocks could pose conflicts for court prospectsSome Supreme Court potentials have extensive corporate holdings, including shares in Fortune 500 companies and stock in a manufacturer that recalled lead-paint-coated toilet seats.
Wilbur Ross: "Due Diligence Integral to Success of Bank Bailout Plan""The U.S. Treasury detailed Monday its plan to purge banks of toxic assets with the help of private investors, a key part of Washington's drive to pull the world's biggest economy out of severe recession.
Senator Shelby is Worse Than HooverSenator Richard Shelby of Alabama has proven that he is criminally ill-informed and/or insane. On "This Week" with George Stephanopoulos, he said he wanted to force banks to just close down. Not nationalize them through FDIC receivership, just close them.
People Demanding the Captain of the FED step down and all of his colour!!!The government that oversaw the businesses that crashed the economy are running around free. What happened to accountability? These people all belong on a rock pile and the same is true of the elected people that had oversight responsibility.
Billions more needed for financial rescue on Yahoo! Newstax payers rescue plan beyond additional $700 billion bailout.
Circuit City to Close and Liquidate Remaining 567 US Stores, 30,000 employeesCircuit City Stores Inc., the nation's second-biggest consumer electronics retailer, said Friday it had run out of options and will be forced to liquidate its 567 U.S. stores. The closures could send another 30,000 people into the ranks of the unemployed.
Despite desperate banks and a massive bailout plan, Paulson can't get decent terms on TARP plan; Buffett spent half as much for four-times the warrantsHenry Paulson may be the most powerful manager of money in the world and he still couldn't do for taxpayers with the $700 billion bailout of American banks what Warren Buffett did for his shareholders in investing in Goldman Sachs Group Inc.
The Disconnection Between Financial Assets and Real AsssetsThe current financial debacle is really not a "liquidity" crisis as it is often euphemistically called. It is a crisis of overgrowth of financial assets relative to growth of real wealth—pretty much the opposite of too little liquidity.
Op-Ed Columnist - The Madoff EconomyHow different, really, is Mr. Madoff's tale from the story of the investment industry as a whole?
All is well that ends Zell by Marty KaplanMarty Kaplan, the Norman Lear professor of entertainment, media and society at the USC Annenberg School, has an interesting take on the trials and tribulations of the Tribune Company, the Los Angeles Times and Sam Zell.
Home Truths on the EconomyOne definition of the word economy is "an orderly, functional arrangement of parts; an organized system." But neither orderly, nor functional, nor organized were terms that came to mind watching Treasury Secretary Henry M. Paulson in his press conference last week.
I hear that you are working feverishly to pass an emergency bill called TARP, and finally did so on Friday. I too have Troubled Assets, namely a 2002 SUV.
You Can't Rescue the Financial System If You Can't Read a Balance Sheet The only way that buying the questionable assets will increase capital on the liability side of the balance sheet is if the Treasury overpays for them.
Paulson acts decisively to protect Goldman bonusesAnyone who caught even a sliver of Tuesday's hearings in the U.S. Senate on the proposed Treasury bailout of the mortgage-backed securities market knows the current financial crisis is far from over. Suddenly all sorts of previously unthinkable catastrophes seem possible.
Log In | Register
