TIMOTHY GEITHNER

President Barack Obama and Treasury Secretary Timothy Geithner plan on Wednesday to lay out broad principles for Wall Street regulatory reform aimed at preventing a repeat of the current financial crisis, an administration official said.

President Barack Obama and Treasury Secretary Timothy Geithner plan on Wednesday to lay out broad principles for Wall Street regulatory reform aimed at preventing a repeat of the current financial crisis, an administration official said.

The Obama administration has added Wall Street expertise to its team overseeing the restructuring of General Motors and Chrysler, naming Steven Rattner as adviser to Treasury Secretary Timothy Geithner.

Even if the government took a large common equity stake in Citigroup Inc, worries would likely persist about the bank's ability to absorb soaring losses in a deepening recession. The third-largest U.S. bank by assets is in talks with federal regulators on a plan for the government to increase its stake, a person familiar with the matter said. Converting $45 billion of preferred stock, which the ...

Even if the government takes a large common equity stake in Citigroup Inc, worries are likely to persist about the bank's ability to absorb soaring losses in a deepening recession.

U.S. regulators including the Treasury and Federal Reserve issued a joint statement saying the government stands firmly behind the banking system and said the government would ensure the banks had enough capital and liquidity to provide credit needed for economic growth.

Citigroup Inc is in talks to give the U.S. government a larger stake, a person familiar with the matter said, which could provide the government with a far greater say in the affairs of the ailing banking giant.

to also convert their preferred shares into common stock, the Journal reported. Until most of the news is known, there will be a lot of volatility and probably a downward trend in the equity market because we don't know how much pain for investors government measures will induce, said Dariusz Kowalczyk, chief investment strategist with SJS Markets in Hong Kong. By which I mean, will curr...

Federal Reserve Chairman Ben Bernanke this week will offer assurance that help is on the way for the troubled U.S. economy and may offer clues on additional steps that could be taken to halt an ever-steepening dive.

U.S. Secretary of State Hillary Clinton said on Saturday the United States and China could help the world recover from economic crisis by working together, adding Washington appreciated Beijing's confidence in U.S. government debt.

Bank of America Corp shares sank below $3 and Citigroup Inc tumbled below $2 on Friday, hammered by growing fears that the U.S. government could nationalize the banks, wiping out shareholders.

and it's getting worse, said Nouriel Roubini, a prominent New York University economist who forecast much of the credit and housing recession. The cost of insuring $10 million of Citigroup debt for five years rose to $475,000 annually from $405,000 on Thursday, according to data from Phoenix Partners Group. The cost of insuring Bank of America debt rose to $275,000 a year from $245,000. S...

General Motors Corp is battling to survive collapsing auto demand, tight credit and uncertain prospects for recovery in its biggest markets.

President Barack Obama was set on Wednesday to unveil a plan to stabilize the troubled housing market, a main cause of the economy's deepening slump.

WASHINGTON - The U.S. government will release $4 billion in additional aid to General Motors Corp on Tuesday as planned, a White House aide said on Monday, ahead of the deadline for the automaker to submit a new survival plan. The aide said GM's smaller rival Chrysler LLC's request for additional aid would be treated as a new request and dealt with separately. GM is seeking conce...

WASHINGTON - President Barack Obama will not formally announce his new auto task force on Monday, a White House aid said, clarifying remarks from a spokesman earlier. Press Secretary Robert Gibbs told reporters on board Air Force One on Monday he thought a formal announcement about the strategy would be released in a written statement later in the day. But a White House aide said no further not...

suggesting they still have an immediate need for another $5 billion. Brad Coulter, director of the Detroit-based turnaround firm Okeefe & Associates, said the final price tag for a GM bailout could approach $50 billion if the market remains depressed. My real interest in this is how much cash has to be put in, Coulter said. A parallel set of talks have been under way at GM's smaller r...

ABOARD AIR FORCE ONE - President Barack Obama could announce his new auto task force later on Monday, his spokesman said. I think the unveiling will come later today, Robert Gibbs told reporters on board Air Force One when asked when the president would formally announce his new strategy. He said the announcement would likely be in a written statement. Obama has decided to launch a governm...

Negotiators for General Motors Corp and the United Auto Workers union, staring down a Tuesday deadline for the struggling automaker to submit a plan for its survival to the U.S. government, were making progress in high-stakes talks aimed at cutting GM's costs and debt, a person familiar with the matter said.

President Barack Obama has decided to launch a government task force for restructuring the struggling U.S. auto industry instead of naming a car czar with sweeping powers, a senior administration official said on Sunday.

Russian Finance Minister Alexei Kudrin may have felt it as a sign of the times that he was among the last at Rome's Excelsior hotel to see the closing statement from this weekend's meeting of global policymakers.