US Treasury News

ST. ANDREWS, Scotland - The United States and Britain voiced disagreement Saturday over a proposal that would impose a new tax on financial transactions to support future bank rescues.

Whatever you do, don't call it a stimulus. Battered by a grim new unemployment figure of 10.2 percent Friday, the White House and Treasury Department began talking about new but unspecified measures to improve the economy and generate jobs.

Its TV and print ads poke fun at the bait-and-switch tactics of other banks. Its interest rates on CDs have been the most generous in the industry.

Fannie Mae reported another big loss for its latest quarter and is seeking to tap Treasury Department funds to keep it afloat for the fourth time.

John S. Reed , who helped engineer the merger that created Citigroup Inc. , apologized for his role in building a company that has taken $45 billion in direct U.S. aid and said banks that big should be divided into separate parts.

Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as taxpayers' bill from the housing market bust keeps getting bigger.

The U.S. government is expected to borrow $276 billion in the final three months of the year, the Treasury Department said Monday.

The developer of the troubled Atlantic Yards project is getting a $55 million shot in the arm from the federal government.

Citigroup Inc. and JPMorgan Chase & Co. are hoarding cash as if another crisis were on the way.

The world's top finance officials this week plan to develop a peer review process to ensure their economic policies avoid the trade and budget imbalances that contributed to last year's financial crisis, a Treasury Department official said Tuesday.

General Motors Co. said it has received permission to use $2.8 billion of its government aid to help buy part of troubled auto parts supplier Delphi Corp., the automaker's former parts division.

The government's "pay czar" expects compensation plans for additional employees at the seven companies getting the biggest bailouts to be in place by year's end, while the Federal Reserve will soon start its own work on banks' pay practices.

How the firm's bankruptcy will impact Carl Icahn, bond investors, the Treasury Department and stockholders.

Taxpayers are unlikely to recover their full investment in General Motors or Chrysler, government investigators said Monday in the latest review to cast doubts that the government will recoup the $80 billion it poured into the two automakers.

Goldman is reportedly in talks with Fannie to buy millions of dollars in tax credits, but Treasury stands in the way of the deal.

The Federal Reserve Act was signed into law in 1913 by President Woodrow Wilson, but in his book " The New Freedom: A Call For the Emancipation of the Generous Energies of a People " it is clear that he was not in favor of centralized credit monopolies such as the Federal Reserve Bank stating "the control of credit also has become dangerously ...

Financial services provider GMAC says it will close a call center in Greeley by the end of March, eliminating 127 jobs.

Roughly $211 billion separates what the country owes and its self-imposed credit limit.

Here are some key parts of the draft legislation hashed out between House Financial Services Committee Chairman Barney Frank and the Treasury Department.

Top U.S. regulators clashed in Washington in separate testimony on the same day concerning a major Treasury Department initiative to reshape future bailouts.