Private lenders did not use prudent lending practices for a small business program that President Barack Obama hopes to expand to improve the economy, a government watchdog said on Wednesday.
Treasury Secretary Timothy Geithner says some parts of the U.S. economy are very strong and that the United States was rebounding from recession more quickly than most other major economies.
Wall Street was set to drop at the open on Thursday as Greece once again soured risk appetite with more news on its deteriorating financial position.
U.S. stock index futures fell on Thursday as Greece once again soured risk appetite with more news on its deteriorating financial position.
The U.S. Commerce Department on Wednesday delayed a decision on investigating whether China's currency practices are an illegal trade subsidy that justify imposing countervailing duties.
A German state bank said it had severed business ties with Goldman Sachs Group Inc, citing U.S. regulators' allegation that the dominant Wall Street bank committed fraud, while France eyed an investigation of its own.
U.S. stocks were little changed on Wednesday as disappointing outlooks from healthcare companies overshadowed strong earnings from Morgan Stanley and Apple Inc .
General Motors Co and Chrysler on Wednesday reported progress in their government-financed turnarounds, but the Obama administration still forecasts some loss on the taxpayer bailout of both companies.
A U.S. senate committee will consider whether to drop a controversial idea to ban banks from the swaps market in a debate on derivative reform on Wednesday, as efforts to toughen regulation head into the home straight.
The U.S. Federal Reserve said on Wednesday it transferred a record $47.4 billion to the U.S. Treasury in 2009 as a result of its programs to help the economy and financial firms during the financial crisis.
Republican lawmakers on Tuesday took a more conciliatory tone toward Democratic proposals to crack down on Wall Street as the U.S. Senate delayed debate on a financial reform package until next week.
Richard Fuld, former CEO of Lehman Brothers, lifted his bowed head, looked squarely at congressional committee members on Tuesday and acknowledged that people were hurt in the collapse of the former Wall Street giant.
Republican party lawmakers on Tuesday took a more conciliatory tone toward Democratic proposals to crack down on Wall Street as the U.S. Senate delayed debate on a financial reform package until next week.
Richard Fuld, former CEO of Lehman Brothers, was summoned to Capitol Hill on Tuesday to answer for the collapse of the fallen Wall Street giant, amid signs a vote on historic financial reforms may be delayed.
Republican lawmakers on Tuesday took a more conciliatory tone toward Democrat proposals to crack down on Wall Street as the Senate delayed debate on a broad financial reform package until next week.
For U.S. industrial companies, this quarter's earnings season could bring the first concrete evidence an awaited economic recovery has arrived.
The United States will take action if China does not begin to take steps in the coming months to raise the value of its currency, a top lawmaker in the U.S. House of Representatives warned on Monday.
Goldman Sachs Group Inc said the bond trader at the center of a landmark civil fraud case against the firm is taking time off, and the regulatory fallout on Wall Street threatened to widen.
President Barack Obama will take his push for tighter financial regulation to New York on Thursday, with Wall Street reeling from the Goldman Sachs case and the Senate only days from a pivotal vote.
President Barack Obama will push for his plan to tighten Wall Street regulations in New York on Thursday, the White House said on Monday, as he attempts to overcome solid Republican opposition.
Treasury Secretary Timothy Geithner on Sunday expressed confidence that lawmakers will bridge partisan differences on the overhaul of financial regulations and pass a bill that protects taxpayers from financing future bailouts.
Treasury Secretary Timothy Geithner said on Sunday he was confident there was enough political unity on Capitol Hill for the Senate to forge a strong financial regulatory bill despite differences over some parts of it.
