Sean Lengell

Bank of America reports threat by Fed

Bank of America's chief executive Thursday for the first time said publicly that officials in the Bush administration and the Federal Reserve threatened to remove top executives of the bank unless the financial giant merged with the troubled Merrill Lynch for the good of the foundering economy.

June 12, 2009

Bank CEO says Fed pressured him to buy Merrill Lynch

Bank of America's top official told a House investigative panel Thursday that the Federal Reserve threatened to remove top executives at the bank if he backed out of an agreement to buy troubled Merrill Lynch last year.

June 11, 2009

Geithner: Link executive pay to performance

The Obama administration is looking to leverage shareholders against corporate executives to rein in excessive pay and compensation packages that it says led to some risky behavior that contributed to the world's financial crisis.

June 11, 2009

Geithner: Link exec. pay to performance

Treasury Secretary Timothy F. Geithner said Wednesday that he will work with Congress to pass legislation designed to tie corporate executive pay more closely to performance and "sound" risk management.

June 10, 2009

Geithner: Foreclosure relief still iffy

Treasury Secretary Timothy F. Geithner told a Senate panel Tuesday he won't know for several months whether a key Obama administration program designed to help troubled homeowners avoid foreclosure will be successful.

June 10, 2009

Geithner: Jury still out on housing aid

Treasury Secretary Timothy F. Geithner told a Senate panel Tuesday that he won't know until autumn if the government's efforts to stabilize the faltering housing market will work.

June 9, 2009

High court asked to block Chrysler sale

Three Indiana pension funds and a collection of consumer groups Sunday asked the Supreme Court to block the sale of Chrysler to Italy's Fiat, threatening a major component of President Obama's plans to restructure the nation's troubled automotive sector.

June 8, 2009

Grassley objects to health bill timeline

Republican Sen. Charles E. Grassley on Sunday blasted President Obama for having the "nerve" to go sightseeing in Paris while at the same time pressuring Congress to quickly hammer out a health care reform plan.

June 8, 2009

Tax-break repeal seen costing jobs

A repeal of rules that govern the way the United States taxes the foreign earnings of American companies would make U.S. companies less competitive abroad, weaken their investments and lead to job losses at home, says a new economic report.

June 8, 2009

N. Korea could return to terror list

The Obama administration may put North Korea back on the list of state sponsors of terrorism, Secretary of State Hillary Rodham Clinton said Sunday.

June 8, 2009

White House: Health care reform will pass this summer

President Obama's senior adviser on Sunday said he is confident Congress will pass sweeping health care reform legislation this summer.

June 7, 2009

Clinton: U.S. may return N. Korea to terror list

The Obama administration is considering a return of North Korea to its list of state sponsors of terrorism, Secretary of State Hillary Rodham Clinton said Sunday.

June 7, 2009

Countrywide figure accused of insider trading

Angelo Mozilo, a friend of high-ranking politicians and the former chief executive of Countrywide Financial, was charged Thursday with insider trading in the latest blow to the firm that had dominated the subprime-mortgage market -- a sector whose collapse helped put world financial markets into a tailspin.

June 5, 2009

Bailout overseer sees need for crisis cushion

President Obama's nominee to oversee the $700 billion Wall Street bailout warned against spending much more of the fund's remaining $100 billion, telling a Senate panel Thursday that a cushion is needed in case of another financial crisis.

June 5, 2009

Regulator: Fannie, Freddie still struggling

The Treasury Department's $400 billion lifeline to mortgage lenders Fannie Mae and Freddie Mac should be enough to see them through the current financial crisis, though each likely will need more than the almost $85 billion in taxpayer aid they've already requested, their regulator said Wednesday.

June 3, 2009

Geithner touts China positives

Treasury Secretary Timothy F. Geithner wrapped up two days of talks Tuesday with Chinese leaders in Beijing by playing down contentious issues of currency and trade in favor of emphasizing areas of agreement.

June 3, 2009

U.S., China vow to fix global economy

China's leaders promised to work with the United States in helping stabilize the faltering global economy after meeting with U.S. Treasury Secretary Timothy Geithner in Beijing on Tuesday.

June 2, 2009

Judge OKs Chrysler sale to Fiat

One of Detroit's Big Three automakers is a step closer to foreign partnership, with a federal bankruptcy judge approving the sale of most of the company's assets to Italy's Fiat.

June 2, 2009

Geithner: U.S. will lower deficit

Treasury Secretary Timothy F. Geithner, during a two-day visit to Beijing, tried to reassure nervous Chinese investors on Monday that the Obama administration is committed to fiscal discipline and lowering the deficit once the slumping global economy makes a recovery.

June 2, 2009

Judge OKs Chrysler sale to Fiat

One of Detroit's Big Three automakers is a step closer to foreign ownership, as a federal bankruptcy judge Monday approved the sale of most of the company's assets to Italy's Fiat.

June 1, 2009