New manager of government’s bank bailout program says he sees signs economy is on the mend

September 24th, 2009 No sign that bailout will expire at year's endWASHINGTON — The nation's economic recovery has just begun and "we still have work to do," a senior Treasury official told Congress on Thursday, the strongest signal yet that the administration is prepared to extend its $700 billion bank bailout fund. Herbert Allison, the department's assistant secretary for financial stability, cited declining prices in commercial real estate that could continue to weigh down bank balance sheets as evidence there is a long way to go before a true recovery takes hold.

August 7th, 2009 Tenn. man sentenced in bank bailout fraud caseNASHVILLE, Tenn. — The first person to be charged with fraud under the federal bank bailout has been sentenced to 10 years in prison.

August 6th, 2009 Rates unchanged, but BoE adds monetary easingLONDON — The Bank of England is keeping official interest rates at a record low of 0.5 percent — but it is expanding its program to expand the money supply by 50 billion pounds to 175 billion pounds. With recent signs of an economic recovery on the horizon, the extension of the so-called quantitative easing program announced by the bank on Thursday indicates it remains cautious about those early indicators.

July 2nd, 2009 Bank of America sets $713 million TARP paymentCHARLOTTE, N.C. — Bank of America Corp.

June 29th, 2009 China central bank chief says economy on the mendHONG KONG — The head of China's central bank said Monday the country's economy was on the mend and expressed confidence that a government target of 8 percent growth this year would be met. Zhou Xiaochuan, governor of the People's Bank of China, said signs the downturn in the world's third-largest economy was leveling off began to emerge in March.

June 20th, 2009 Former Fannie Mae head to take over bank bailoutWASHINGTON — Herbert Allison, the former head of troubled mortgage giant Fannie Mae, has been confirmed to oversee the government's $700 billion bank bailout program. The Senate voted Friday to confirm Allison as the Treasury Department's assistant secretary for financial stability.

June 19th, 2009 Treasury: no decision yet on bank stock warrantsWASHINGTON — The Treasury Department and the nation's largest banks are still negotiating over what price the government should receive for stock warrants and an announcement has been delayed until next week. Treasury Department spokeswoman Meg Reilly says the announcement is expected no earlier than Monday.

June 4th, 2009 Treasury nominee says give bailout a chanceWASHINGTON — President Barack Obama's pick to oversee the $700 billion bank bailout program told Congress Thursday that more time is needed for the recovery plan to work. Herbert Allison, who once led troubled mortgage buyer Fannie Mae, said the nation shouldn't be fooled that government aid is no longer needed because some banks have started repaying the money.

June 4th, 2009 Bank of England keeps interest rates at record lowLONDON — The Bank of England has kept official interest rates at a record low of 0.5 percent and maintained its policy of increasing the money supply to the economy. With early — but tentative — signs of an economic recovery on the horizon, the bank's decision on Thursday represents a cautious stance.

May 31st, 2009 Geithner sees hopeful signs in US economyBEIJING — U.S. Treasury Secretary Timothy Geithner says the U.S.

April 29th, 2009 Fed says it sees signs recession may be easingWASHINGTON — The Federal Reserve says it sees signs the recession may be easing but warns the economy is likely to remain weak. Against that backdrop the Fed held its key lending rate at a record low of between zero and 0.25 percent.

April 29th, 2009 Fed sees signs recession may easingWASHINGTON — The Federal Reserve says it sees signs the recession may be easing but warns the economy is likely to remain weak. Against that backdrop the Fed held its key lending rate at a record low of between zero and 0.25 percent.

April 28th, 2009 Wells Fargo CEO sees 'rays of hope' in economySAN FRANCISCO — Wells Fargo's CEO thinks the recession may be nearing an end, but still isn't feeling optimistic enough to set a timetable for repaying the $25 billion that U.S. taxpayers invested in the bank last fall.

April 22nd, 2009 Criminal charges added in bank bailout fraud caseNASHVILLE, Tenn. — A defense lawyer says a former financial adviser in Tennesee will plead guilty to criminal charges in the first fraud case related to the federal bank bailout program.

April 16th, 2009 WASHINGTON - The US Federal Reserve Wednesday said a number of regions were reporting an easing of the country's economic downturn, adding to some of the small signs that the world's largest economy may be stabilizing. Five of the Federal Reserve's 12 regional banks reported a 'moderation in the pace of decline, and several saw signs that activity in some sectors was stabilizing at a low level,' according to the central bank's Beige Book, a regional report on the economy.