Market watchdogs and six major exchanges agreed new safeguards were needed to curb trading in plunging markets, an effort to address last Thursday's mysterious market free fall.
Fannie Mae, the largest U.S. residential mortgage funds provider, on Monday asked the government for an additional $8.4 billion after the company lost $13.1 billion in the first quarter.
The sharp fragmentation of the U.S. stock marketplace -- seen as a cause of last week's mysterious market dive -- is also slowing down regulators' ability to piece together what happened, two sources familiar with the matter said on Monday.
Fannie Mae, the largest U.S. residential mortgage funds provider, on Monday asked the government for an additional $8.4 billion after the company lost $13.1 billion in the first quarter.
The Group of Seven rich countries is concerned about Greece's debt problems, a Canadian official said on Friday, and hinted that there may be other countries that will also need help.
President Barack Obama said U.S. authorities were investigating the cause of a nearly 1,000-point plunge in the Dow Jones industrial average that spooked investors and fueled anger at Wall Street.
U.S. authorities on Friday were investigating the cause of a nearly 1,000-point plunge in the Dow Jones industrial average that left many investors gasping.
The Securities and Exchange Commission held urgent discussions on Friday to calm investors' raw nerves a day after a plunge of nearly 1,000 points in the Dow Jones industrial average, during which some stocks lost more than 60 percent of their value.
U.S. stock futures rose on Friday, as equities were set to rebound after a steep fall in the previous session and ahead of a key payrolls report.
U.S. stock futures pointed to a stronger start for Wall Street on Friday, with equities set to rebound after falling sharply in the previous session.
The United States was unprepared for the 2007-2008 financial crisis, underestimated its seriousness and lagged in coming to grips with the damage, past and current Treasury chiefs said on Thursday.
Failure to give regulators enough legal power and the rapid growth of a shadow banking system were behind the eruption of the financial crisis, U.S. Treasury Secretary Timothy Geithner will tell an official inquiry on Thursday.
Treasury Secretary Timothy Geithner said on Thursday that banks must be able to engage in some risk-taking to help their customers and it would be a mistake to remove their ability to do so.
The former chairman and chief executive of Bear Stearns conceded on Wednesday that the failed investment bank had taken on too much risk.
Freddie Mac , the second-largest provider of residential mortgage funds, on Wednesday said it lost $8.0 billion in the first quarter and warned that it would continue to need government funds because the housing market remains fragile.
Former Bear Stearns executives said the firm became the first major victim of the financial crisis due to unfounded rumors, not because of risky exposures to mortgage-related products with free-falling values.
Big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, U.S. Treasury Secretary Timothy Geithner told lawmakers on Tuesday as he sought support for the proposal.
Treasury Secretary Timothy Geithner on Tuesday urged lawmakers to support a proposal to charge big banks a fee to pay for bailouts and said it will make them less likely to engage in reckless lending.
The U.S. Senate will cast its first votes on Tuesday on a sweeping Wall Street reform bill, with passage of a handful of uncontroversial amendments expected and a key procedural question still unsettled.
Treasury Secretary Timothy Geithner on Thursday slammed mortgage service companies for failing to do enough to help Americans avoid losing their homes and promised to crack down on shoddy practices.
Senators negotiating financial regulatory reform legislation said on Sunday they were close to a bipartisan agreement, but conceded they may not get a deal before a crucial Senate vote on Monday.
Treasury Secretary Timothy Geithner said on Sunday that proposals to more tightly regulate the financial sector are not a threat and will ultimately be a benefit to banks by making them more credible.
