Sean Lengell

TARP watchdog: Full repayment ‘unlikely’

The auto industry, AIG and other struggling recipients of the government's $700 billion Wall Street bailout will make it "extremely unlikely" that taxpayers will receive a full return on their investments, says a new report by the Treasury Department's independent watchdog.

October 21, 2009

Senate bill seeks to limit overdraft fees

A bill aimed at protecting consumers from "abusive" checking-account overdraft fees was proposed Monday by Senate banking committee Chairman Christopher J. Dodd, who accused banks of bolstering their profits on the backs of struggling Americans.

October 20, 2009

Wall Street exec to lead SEC fraud branch

The Obama administration on Friday tapped a Wall Street executive to lead the Securities and Exchange Commission's charge against investor fraud in the wake of the Bernie Madoff scandal as it pushed anew for a regulatory overhaul to protect Americans from financial sector shenanigans.

October 17, 2009

Panel’s ranking member accuses Dems of running from probe

House Democrats found a novel way to protect two of their own - they simply didn't show up for a scheduled hearing that was to deal in part with a probe into insider loans given to Democratic lawmakers from collapsed mortgage giant Countrywide Financial.

October 16, 2009

Top Treasury posts vacant in finance crisis

Treasury Secretary Timothy F. Geithner is trying to lead the U.S. economy out of its doldrums with - figuratively - one arm tied behind his back.

October 15, 2009

Less than half of AIG bonuses returned

AIG employees have returned less than half of the $45 million in bonuses they promised to repay in a good-will gesture after the company received tens of billions of dollars in taxpayer aid, according to the Treasury Department's independent watchdog.

October 15, 2009

AIG hasn’t returned bonuses as promised

American International Group Inc. employees have returned less than half of the $45 million in bonuses they promised to repay in a goodwill gesture after the company received tens of billions of dollars in taxpayer aid, according to the Treasury Department's independent watchdog.

October 15, 2009

Immigration activists call for reform

Hundreds of immigration activists staged a rally Tuesday on Capitol Hill, pressing for an overhaul of the nation's immigration laws to offer a pathway to citizenship for millions of illegal immigrants.

October 14, 2009

Audit rips Treasury over AIG bonuses

The Treasury Department failed to probe an employee bonus program at American International Group Inc. before giving the faltering insurance company billions in taxpayer aid, according to a new report by Treasury's independent watchdog.

October 14, 2009

Watchdog criticizes Treasury oversight of AIG bonuses

The Treasury Department failed to investigate adequately a massive and complex employee bonus program at American International Group before giving the faltering insurance company billions in taxpayer aid, according to a new report by Treasury's independent watchdog.

October 14, 2009

U.S. claims to disrupt al Qaeda funds

The U.S. government has made major strides in disrupting al Qaeda's funding network, as the terrorist group is in its worst financial shape in years, a senior Treasury Department official said Monday.

October 13, 2009

Treasury: Al Qaeda’s finances shaky

Government efforts to disrupt al Qaeda's funding network are working, as the terrorist group is in the worst financial shape it has been in years, a senior Treasury Department official said Monday.

October 12, 2009

Despite denials, Feds knew of Merrill bonuses

Court documents show that federal regulators were told about billions of dollars in bonuses awarded to Merrill Lynch executives during the company's takeover by Bank of America - contradicting statements to Congress by Federal Reserve Chairman Ben S. Bernanke and former Treasury Secretary Henry M. Paulson Jr.

October 12, 2009

McCain, Feinstein demand more Afghan troops

Sen. John McCain, Arizona Republican, said the White House would be committing "an error of historic proportions" if it doesn't accede to Gen. Stanley A. McChrystal's request for tens of thousands more troops in Afghanistan.

October 12, 2009

Republicans: More troops needed in Afghanistan

Sen. John McCain, Arizona Republican, said the White House would be committing "an error of historic proportions" if it doesn't accede to Gen. Stanley McChrystal's requests for tens of thousands of new troops in Afghanistan.

October 11, 2009

Obama team pushes Wall Street reforms

As Congress labors to overhaul the government's financial regulatory system, the Obama administration has taken an active role in helping draft legislation -- a sharp contrast to the White House's more hands-off approach in the health care battle now consuming Capitol Hill.

October 8, 2009

Audit finds flaws in tax whistleblower program

An Internal Revenue Service program designed to encourage tax fraud whistleblowers is riddled with "deficiencies," creating a backlog of claims that could jeopardize the program, a government watchdog said.

October 8, 2009

Study: Bernanke, Paulson misled public on bailouts

Federal Reserve Chairman Ben S. Bernanke and former Treasury Secretary Henry M. Paulson Jr. misled the public about the financial weakness of Bank of America and other early recipients of the government's $700 billion Wall Street bailout, creating "unrealistic expectations" about the companies and damaging the program's credibility, according to a report by the program's independent watchdog.

October 5, 2009

Plan advances for new agency for consumers

House Democrats moved closer Wednesday to adopting President Obama's plan for a new regulatory agency designed to protect consumers from unscrupulous financial deals, despite opposition by Republicans and Wall Street.

October 1, 2009

Iran tests missiles after nuke disclosure

Iran launched test missiles within hours of an acknowledgment by Defense Secretary Robert M. Gates that the U.S. has no permanent military solution to stop it from becoming a nuclear power.

September 28, 2009