Business Institutions

WASHINGTON - Desperate U.S. automakers ran into fresh obstacles from skeptical lawmakers yesterday as they appealed with rising urgency for a $34-billion bailout. Without help, said one senator, "we're looking at a death sentence." With lawmakers in both...

WASHINGTON (AP) — Securities and Exchange Commission Chairman Christopher Cox said Thursday the government must start to build an "exit strategy" that includes taxpayer protections for its massive financial rescue plan. With the bailout program...

WASHINGTON (AP) _ Lawmakers want the Treasury to do a better job of insisting that banking institutions sharing in the $700 billion bailout comply with limits Congress imposed on executive salaries and use the money for its intended purposes. In the...

WASHINGTON (AP) _ Treasury Secretary Henry Paulson said Monday that the administration is looking for more ways to tap a $700 billion financial rescue program and will consult with Congress and the incoming Obama administration. Paulson said the...

The parent company of United Bank is seeking shareholder permission to issue preferred stock, which would allow it to participate in the U.S. Treasury Department's economic rescue plan. Charleston-based United Bankshares says in a Securities and...

The United States' war on drugs has failed and will continue to do so as long as it emphasizes law enforcement and neglects the problem of consumption, a Washington think tank says in a report co-chaired by a former president of Mexico. The former...

If at first you don't succeed, try, try again. The latest concoction by Treasury Secretary Henry Paulson goes closer to the consumer than simply trying to shore up financial institutions. Instead of counting on banks and credit card companies to...

WASHINGTON They're at it again. Leaders announced another bailout Tuesday: $800 billion this time. The idea is to help finance loans for consumers and push down home-mortgage rates. Of the $800 billion pledged by the Bush administration and Federal...

An Easton man has pleaded guilty to a federal charge of bank fraud involving a mortgage fraud case. Fifty-two-year-old Fred Stevens pleaded guilty Tuesday to taking part in a scheme to defraud IndyMac Bank and other federally insured financial...

A mortgage broker from Westport has pleaded guilty to a charge of bank fraud stemming from his participation in a scheme to defraud IndyMac Bank, a federally insured financial institution based in California, the U.S. attorney's office for Connecticut has...

President-elect Barack Obama will soon face the extraordinary task of saving capitalism from its own excesses, much as Franklin D. Roosevelt had to do 76 years ago. The new president's team must get to the root causes of the mistakes that have brought...

Pressure intensified on Citigroup to sell part or all of itself as its stock fell below $4 a share Friday and fears escalated about future loan losses. Chief executive Vikram Pandit told managers earlier in the day that he opposes breaking up the...