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News & Updates

December 20, 2008
Paulson Wants Rest of TARP Funds From Congress


Source: The Wall Street Journal

The U.S. government's rescue of the auto industry drained what remained in the first half of Treasury's $700 billion bailout fund, prompting Treasury Secretary Henry Paulson to call on Congress to release the rest of the money.

December 20, 2008
Congress Will Set Conditions for $350 Billion in Rescue Funds

Source: Bloomberg.com

Congress will use the remaining $350 billion in a U.S. bank-rescue package to force the Bush administration and President-elect Barack Obama into providing foreclosure aid as the pace of people losing their homes soars.

 

December 20, 2008
Obama fills econ team; says business will revive


Source: Asspciated Press

Completing his Cabinet a month before taking office, President-elect Barack Obama named officials to oversee transportation, labor, trade and small business policy Friday but warned that economic recovery won't be nearly as...

December 19, 2008
Auto Makers to Get $17.4 Billion


Source: Wall Street Journal

The White House announced a $17.4 billion rescue package for the troubled Detroit auto makers that allows them to avoid bankruptcy and leaves many of the big decisions for the incoming Obama administration.

 

 

December 19, 2008
Citi forms oversight committee, plans to lend more

Source: CNN Money

Citigroup to increase lending, forms oversight committee for government funds, CEO says

 

December 19, 2008
Next SEC boss had CBOT spat


Source: Chicaga-Sun Times

In picking Mary Schapiro as chairman of the Securities and Exchange Commission, President-elect Barack Obama found a nominee with a background that prepares her for leading major changes in the nation's system of market...

December 19, 2008
Paulson: 'Orderly' auto bankruptcy might be best


Source: Associated Press

The Bush administration is convinced the ailing economy could not withstand the demise of Detroit's Big Three and is looking at "orderly" bankruptcy to keep the automakers from collapsing.

 

December 19, 2008
SEC APPROVES INTERACTIVE DATA FOR FINANCIAL REPORTING BY U.S. COMPANIES, MUTUAL FUNDS

Source: Securities and Exchange Commission

Washington, D.C. – The Securities and Exchange Commission has approved measures to give investors faster, better, and less expensive financial information disclosure about the public companies and mutual funds they own.

December 18, 2008
GM, Chrysler reopen merger talks: Journal

Source: MarketWatch

General Motors Corp. and Chrysler LLC have reopened merger talks, according to a report in The Wall Street Journal on Thursday. The latest move comes as Chrysler owner Cerberus Capital Management LP has indicated its willingness...

December 18, 2008
Obama May Seek a Stimulus Plan Exceeding $850 Billion


Source: Bloomberg.com

Barack Obama may ask Congress next year to approve a stimulus plan of around $850 billion, an amount that has grown as the U.S. economy sinks deeper into recession, an adviser to the president-elect said.

 

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