Latest Henry Paulson Stories
By Ellen Simon Associated Press NEW YORK -- The Federal Reserve forged an extraordinary $85 billion rescue Tuesday night of insurance giant American International Group Inc., offering a respite from two days of chaos in the American financial system.
By Sue Kirchhoff, Kathy Chu, Barbara Hagenbaugh and Edward Iwata The Federal Reserve said Tuesday night it will lend up to $85 billion to American International Group, effectively putting the government in control of the flailing insurance giant, saying the move was necessary to protect the financial system and the economy.
British bank Barclays said Monday it was talking with Lehman Brothers about buying some of the firm's core business assets. Lehman Brothers filed for Chapter 11 bankruptcy protection Monday in a historic day on Wall Street that included Merrill Lynch accepting a rescue offer from Bank of America.
By Martin Crutsinger Associated Press WASHINGTON -- The Federal Reserve announced late Sunday several steps to cope with the worst credit crisis in decades, including broadening the types of assets that investment banks can put up to get emergency loans from the Fed. The action came as U.S.
Federal Reserve officials and leaders of major U.S. financial institutions held emergency meetings Sunday to try to find a way to rescue Lehman Brothers.
By Craig Torres and Rebecca Christie Bloomberg News Treasury Secretary Henry Paulson is adamantly opposed to using government funds to aid Lehman Brothers Holdings Inc., and Federal Reserve officials are inclined to agree.
By DAMIEN HENDERSON THE United States government embarked on the biggest bail-out in its history yesterday when it confirmed the takeover of mortgage giants Fannie Mae and Freddie Mac in a bid to stem further economic fallout from the ongoing housing crisis.
The US government announced today that it was taking control of mortgage giants Fannie Mae and Freddie Mac in an effort to avert potential major financial turmoil. Bush officials announced today that the executives of both institutions had been replaced.
The Bush administration ripped up years of laissez-faire economic policies last night and launched a government takeover of two of the most powerful mortgage companies in the US.
By ALAN ZIBEL By Alan Zibel and Martin Crutsinger The Associated Press WASHINGTON The Bush administration seized control Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, aiming to stabilize the housing market turmoil that is threatening financial markets and the overall economy.