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Treasury official: US shouldn't micromanage banks
WASHINGTON - The government should refrain from micromanaging banks that receive taxpayer assistance, a top Treasury official cautioned lawmakers itching to see results from a $700 billion rescue program for the financial sector. Neel Kashkari, interim assistant secretary for financial stability at Treasury, told a congressional oversight panel Wednesday that banks should not be forced to make loans that bankers might deem risky.
Nations:U.S. People:Timothy Geithner Dennis Kucinich Activities:Global Financial Crisis
2009-03-11
Jobless hit with bank fees on benefits
For hundreds of thousands of workers losing their jobs during the recession, there's a new twist to their financial pain: Even as they're collecting unemployment benefits, they're paying bank fees just to get access to their money.
Nations:U.S. People:Barack Obama Source:(AP)
2009-02-20
Bankers vow to build trust with increased lending
WASHINGTON - The nation's top bankers came to account for themselves Wednesday to a wary public, displaying a blend of financial might and humility as they pledged to build public trust with greater lending and fewer perks. "We're Americans first and bankers second," John Stumpf, president and chief executive of Wells Fargo & Co., told a House committee.
People:Timothy Geithner Vikram Pandit Barack Obama Lindsey Graham Activities:111th Congress Global Financial Crisis
2009-02-11
Bankers challenged to reform system -- quickly
WASHINGTON - The top members of a key House panel told banking leaders Wednesday they must win over a disgusted public and work harder to right the deeply troubled financial system.
Nations:U.S. People:Timothy Geithner Richard Shelby Barack Obama Activities:2008 U.S. Financial Rescue Source:(AP)
2009-02-11
US regulator says flawed oversight fed financial crisis
WASHINGTON (AFP) - The head of the US financial regulator SEC has blamed a voluntary monitoring program for major investment banks as a cause of the global financial crisis and said he was shutting the program down.
Activities:Global Financial Crisis
2008-09-27
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