The Obama administration on Thursday unveiled a sweeping overhaul of the financial system designed to impose greater regulation on major players like hedge funds. ...more

March 26, 2009

President Barack Obama claimed early progress Tuesday night in his aggressive campaign to lead the nation out of economic chaos and declared that despite obstacles ahead, "we're moving in the right direction." At the second prime-time news conference of his presidency, Obama also toned down his criticism of bonuses to executives at bailed-out AIG, and shot back at Republican critics of his budget. ...more

March 24, 2009

Pointing with dismay to the AIG debacle, the nation's top economic officials argued Tuesday for unprecedented powers to regulate and even take over financial goliaths whose collapse could imperil the entire economy. President Barack Obama agreed and said he hoped "it doesn't take too long to convince Congress." ...more

March 24, 2009

Treasury Secretary Timothy Geithner called on Congress Tuesday to grant him new powers to regulate huge financial companies like insurance giant AIG, whose failure would pose a grave danger to the U.S. financial system and the broader economy. ...more

March 24, 2009

AIG employees have agreed to return about $50 million of the $165 million in bonuses. ...more

March 23, 2009

President Barack Obama says he cannot "govern out of anger" just because of public outrage over bonuses paid at financial institutions kept afloat by taxpayer dollars. ...more

March 23, 2009

The Obama administration's latest attempt to tackle the banking crisis and get loans flowing to families and businesses will create a new government entity, the Public-Private Investment Program, to help purchase as much as $1 trillion in toxic assets on banks' books. ...more

March 23, 2009

History will record the third week of March 2009 as Outrage Week in Washington. ...more

March 23, 2009

President Barack Obama wagered significant political capital Sunday as he bucked a highly popular House measure to slap a punitive 90 percent tax on bonuses to big earners at financial institutions already deeply in hock to taxpayers. ...more

March 23, 2009

Struggling to contain the worst financial crisis in seven decades, the Obama administration wants to buy billions of dollars of toxic assets from banks to ease borrowing for consumers and businesses. ...more

March 22, 2009