Foreign banks, regional U.S. banks, and banks fighting for their last chance at survival counted among the heaviest users of the Federal Reserve’s emergency discount lending window during the heat of the 2008 financial crisis. Get the full story »
Inside these posts: Financial crisis
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FDIC sues former execs, wives in WaMu failure
The Federal Deposit Insurance Corp. sued three former executives of the failed Washington Mutual Bank, along with two of their wives, in a lawsuit filed on Wednesday.
The FDIC is seeking $900 million in damages, charging gross negligence and other failures by the former executives in the run up to WaMu’s collapse in September 2008, the largest U.S. banking failure. Get the full story »
Treasury brings in $35B to offset bailout losses
The Treasury Department has brought in $35 billion in revenue over two years, boosted by ongoing sales of Citigroup stock, new data show. But the Congressional Budget Office projects taxpayers will still lose $25 billion for bailing out the financial sector and U.S. automakers.
Number of job openings rises in October
Employers posted a sharp increase in job openings in October, raising hopes that hiring could pick up in the coming months.
Businesses and government advertised nearly 3.4 million jobs at the end of October, up about 12 percent from the previous month, the Labor Department said Tuesday. That reverses two months of declines and is the highest total since August 2008, just before the financial crisis intensified.
AIG raises $37 billion to pay back U.S.
American International Group said Monday that it has raised nearly $37 billion as part of its plan to pay back the government’s multi-billion dollar bailout. Get the full story »
U.S. bankers want part of Basel plan dropped
A leading U.S. banking group is urging Basel Committee negotiators working on new international capital standards to ditch part of their proposal. Get the full story »
Fed’s Bullard: Crisis only test for bank safeguards
A senior Federal Reserve policymaker said Monday it may be impossible to test new measures to limit systemic risk in the banking system before the next financial crisis.
St. Louis Fed President James Bullard said the credibility of too-big-to-fail elements in the sweeping financial reform bill rested on them being tested in practice. Get the full story »
