Senate confirms top civil rights official at Justice DepartmentOctober 6th, 2009 Senate confirms civil rights official at JusticeWASHINGTON — The Senate voted 72-22 Tuesday to confirm Thomas Perez as the Justice Department's top civil rights official. Perez, who will lead the civil rights division, is the first senior Justice Department official to be confirmed since April.
Obama administration warns against quick end to $700 billion bank bailoutSeptember 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.
Fannie Mae meets New York Stock Exchange's price listing standardSeptember 4th, 2009 Fannie Mae meets price listing standardWASHINGTON — Fannie Mae, the government-backed mortgage company, said Friday it regained compliance with the New York Stock Exchange's minimum price standard for listing common stock. Fannie Mae was notified on Nov.
Report: US makes $4 billion in profits from large banks in federal bailoutAugust 31st, 2009 Report: US makes $4 billion from bailout banksWASHINGTON — The U.S. government has hauled in about $4 billion in profits from large banks that have repaid their obligations from last year's federal bailout, The New York Times reported Sunday.
Fannie Mae, AIG, Crocs, Leap Wireless, CBS, Beazer are among big market movers FridayAugust 7th, 2009 Fannie Mae, AIG, Crocs, Leap Wireless big moversNEW YORK — The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
Fannie Mae, down 13 cents at 66 cents
The government-sponsored mortgage finance company posted another huge quarterly loss and said it will tap $11 billion in new federal aid. Colonial BancGroup Inc., down 21 cents at 49 cents
The bank is under criminal investigation by the government over alleged accounting irregularities at its mortgage warehouse lending unit.
Tennessee financial adviser sentenced to 10 years in 1st TARP bank bailout fraud caseAugust 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.
Senate confirms Bob Abbey to head national BLMAugust 7th, 2009 Senate confirms Abbey to head BLMCARSON CITY, Nev. — The U.S.
Bank of America authorizes $713 million payment to government under TARPJuly 2nd, 2009 Bank of America sets $713 million TARP paymentCHARLOTTE, N.C. — Bank of America Corp.
Senate confirms 2 nominees for Federal Communications CommissionJune 26th, 2009 Senate confirms 2 for FCCWASHINGTON — The Senate on Thursday confirmed Julius Genachowski as head of the Federal Communications Commission and Robert McDowell for a second FCC term. McDowell is currently the only Republican on the five-seat commission, which has been operating with three commissioners.
New manager of government's bank bailout program says he sees signs economy is on the mendJune 24th, 2009 TARP chief sees sun peeking through economic stormWASHINGTON — The new manager of the government's $700 billion bank bailout program says he sees signs the economy is on the mend even though high unemployment and falling home prices remain a threat. In prepared testimony for a congressionally appointed panel, Herbert Allison said Wednesday it is critical for the government to remain vigilant and "press ahead" with recovery efforts.
Treasury says decision on bank stock warrants tied to bailout program could come MondayJune 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.
List of 10 banks that got Treasury approval to pay back their bailout moneyJune 9th, 2009 List of 10 banks that will repay bailout moneyThe Treasury has given 10 banks permission pay back a total of $68 billion in government bailout money. The banks include the eight recipients of bailout money that passed regulators' stress test last month, plus the investment bank Morgan Stanley and Chicago-based custody bank Northern Trust Corp.
Obama's pick to oversee $700B bank bailout says more time is needed for program to workJune 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.
Treasury says 11th bank has repaid support it received from $700 billion financial rescue fundMay 8th, 2009 Treasury says 11th bank has repaid bailout fundWASHINGTON — A Texas bank has become the 11th financial institution to return the money it received from the government's $700 billion bailout fund. The Treasury Department reported Thursday that Sterling Bancshares Inc.
Criminal charges added in first bank bailout fraud case; Lawyer says guilty plea plannedApril 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.
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