Treasury department
| 7:00AM 6/30/2011
During the past month, AIG stock fell nearly 10% drop after an announcement that the government would sell some of its stake in the insurance giant. The Treasury's ownership in the company has declined from 92% to 77%, but the prospect of its future sell-offs are holding the stock down.
| 9:00AM 6/10/2011
Investors have generally taken a negative position on big banks lately: Major financial institutions face a host of issues that are punishing their bottom lines. However, some of Wall Street's most carefully watched investors -- short sellers -- are withdrawing their bets against them.
| 7:15AM 1/13/2011
The Treasury Department is launching a pilot program to deliver tax refunds via prepaid debit cards rather than checks.
The plan aims to cut down on the administrative costs associated with checks and to help lower-income taxpayers without bank accounts, The Wall Street Journal said.
The...
| 5:30PM 12/08/2010
Insurance giant American International Group on Wednesday signed an agreement with the government that details its plan to repay its government loans. Meanwhile, The Wall Street Journal reports that the government plans to sell much of AIG's stock in the next few months.
| 8:00PM 12/06/2010
The U.S. Treasury Department is offering up its remaining Citigroup shares, a move that marks the end of one of the federal government's largest bank bailouts. But the Treasury says it will hold out for an "acceptable price" for the 2.4 billion shares.
| 8:12AM 11/23/2010
White House National Economic Council Deputy Director Diana Farrell and Treasury Department Assistant Secretary for Financial Institutions Michael Barr are planning to step down in the coming weeks -- the latest in a series of departures from Obama's economic team.
| 7:45PM 10/26/2010
The U.S. government's bailout has been less than effective in helping U.S. homeowners avoid foreclosure and could end up costing more than expected, according to a report from the Troubled Asset Relief Program's special inspector general.
| 6:43AM 10/08/2010
The Treasury Department announced a $1.5 billion lending package to boost small businesses at the state level.
The money will be available to states that can demonstrate that they will generate $10 in new private lending for every dollar of federal funds they receive, Reuters said. This could...
| 9:00PM 10/05/2010
The federal deficit will amount to the equivalent of approximately 10% of U.S. gross domestic product for the fiscal year, which ended Sept. 30, according to a Treasury official. That's about the same percentage as the previous fiscal year.
| 8:30PM 10/05/2010
The federal bailout program will end up costing taxpayers at least 85% less than expected, according to the Treasury Department, which estimates a bill of $30 billion to $50 billion. The Congressional Budget Office initially expected the program to cost $350 billion.