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The U.S. is finally becoming a nation of savers. Now if only we could get something for our money.
The head of the Federal Deposit Insurance Corp. said Tuesday she's "very worried" that the nation's biggest banks aren't lending enough and warned the economy could take another turn for the worse without increased access to credit.
JPMorgan CEO Jamie Dimon said Tuesday his bank won't try to hire top performers at Citigroup and Bank of America, days after the government's "pay czar" slashed pay for the biggest earners at JPMorgan's troubled rivals.
It's the boldest idea yet to rein in Wall Street recklessness: Put the Federal Reserve in charge of policing not just the nation's banks, but also how much their employees are paid.
The big banks are showing they can still make money, even as Main Street struggles — though not from lending, refinancing homes or other bread-and-butter business.
If the nation's major banks report big third-quarter profits, don't take the numbers at face value.
The next financial bubble could come sooner than you think.
It's a good time to borrow money for a home, car or small business.
A year after the financial system nearly collapsed, the nation's biggest banks are bigger and regaining their appetite for risk.
The agency that guarantees bank deposits said Thursday there are no immediate plans to borrow money from the government to bolster its insurance fund, which fell 20 percent to $10.4 billion in the second quarter.
American International Group Inc.'s new CEO will be paid a yearly salary worth $7 million and could earn millions more in performance-based incentives, the bailed-out insurance giant said Monday.
Corporate America is turning a profit again, but only by spending less, not making more.
CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange.
Another financial quarter, another period of blowout profits for Goldman Sachs. With some of the other big banks still losing money, many may wonder: How does Goldman do it?
The board of CIT Group Inc., one of the nation's largest lenders to small and midsize businesses, approved a deal with major bondholders to keep the company out of bankruptcy, said two people briefed on the talks.
The Tax Man is in the mirror for the estate of the late King of Pop.
Music lovers weren't the only ones drawn to the King of Pop. Wooed by his global fame and earning power, a bevy of financial firms ponied up tens of millions to finance the singer's luxe lifestyle and kick-start his troubled career.
It's one of the biggest mysteries in the Michael Jackson saga: How much was the lavish-spending, massively debt-ridden pop icon really worth?
Ten of the nation's biggest financial companies got a green light Tuesday to return $68 billion in federal bailout money — freeing the banks from limits on executive pay and leaving the government with a small gain on the rescue cash.
The government is set to announce as early as Tuesday morning which of the country's biggest banks will be able to repay billions in federal bailout dollars in a decision that risks creating a two-tier banking system — winners and losers.
The race to repay federal bailout money could end up reducing the amount that taxpayers eventually get back.
After acing their "stress tests," some big banks are rushing to raise capital and return billions in federal bailout money. But don't expect it to replenish government coffers.
Wells Fargo and Morgan Stanley said Thursday they'll try to raise billions in fresh capital, becoming the first major banks to scramble for money after the government said 10 large financial institutions need $75 billion in new funds.
Hedge funds are being offered a sweet deal to help the Obama administration rescue the U.S. banking system: A low-risk opportunity to scoop up soured bank assets that could one day make them a killing.
Wall Street gave the new bank rescue plan an enthusiastic embrace. Whether it will actually work — restoring solvency to the banks, restarting lending and ultimately lifting the economy out of recession — is far less clear.
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