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Administration extends $700B bailout until Oct.

14 hours ago ago from PopEater

WASHINGTON -The Obama administration has extended the $700 billion financial bailout program until October, setting up a struggle between Democrats who favor using some of the leftover money to help generate jobs and Republicans who say it should be used to shrink soaring budget deficits. The administration insists the bailout fund is still needed to prevent further turmoil in the banking system. In announcing the decision Wednesday, Treasury ...

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BofA repays all federal bailout funds

16 hours ago ago from NBC

U.S. business" href="http://www.msnbc.msn.com/id/3174182/device/rss/rss.xml" xmlns:media="http://search.yahoo.com/mrss/" /> sponsored by  Categories ...

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Banks subsidizing auto TARP, extra money could be spent

1 hour, 2 minutes ago ago from BloggingStocks

The bailouts of late 2008 and 2009 have cost the American taxpayers $61 billion, according to the Treasury Department , but the banks aren't to blame this time . The auto manufacturer bailout, which includes Chrysler and General Motors ( GRM ), has cost the country more than $30 billion, with American International Group ( AIG ) consuming another $30 billion. Meanwhile, Bank of America ( BAC ) has already made good with the government, and ...

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Obama to call on bank chiefs to boost lending

10 hours ago ago from Washington Post - U.S.

President Obama is summoning the chiefs of a dozen big banks to a White House meeting Monday to press them to do more for the economy, even as many of the firms are striving to get out from under the government's thumb. Obama is expected to tell the executives to lend more, especially to small businesses, and to support his administration's efforts to reform financial regulation, administration officials said. He may also address the ...

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Credit Suisse Names Urs Rohner as Next Chairman

6 hours ago ago from Wall Street Journal

BY GORAN MIJUK ZURICH -- Credit Suisse Group said Thursday it has tapped Vice Chairman Urs Rohner to lead the Swiss bank as its next chairman, replacing Hans-Ulrich Doerig, who will step down after the annual general meeting in April 2011. Mr. Rohner, a 50-year-old lawyer, joined Credit Suisse in 2004 as the bank's general counsel and became chief operating officer in 2006. He held those roles until April 2009, when he was elected to the ...

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