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• U.S. will buy stock in banks, Paulson says
WASHINGTON - Treasury Secretary Henry Paulson said Friday that the Bush administration will move ahead with a plan to buy stock in financial institutions. Paulson said the program to purchase stock in financial institutions will be open to a broad ...
• White House considers bank ownership stakes
The legislation reportedly allows the Treasury Department to inject fresh capital into financial institutions and get ownership shares in return. The new powers granted in the legislation were being considered as the administration seeks to deal with ...
• Bank on it — bank failures will rise next year
Enfeebled by huge losses on risky home loans, the banking industry is now on the shakiest ground since the early 1990s, when more than 800 federally insured institutions failed in a three-year period. That was during the clean-up phase of a decade ...
• Two small banks fail; brings 2008 tally to 15
The U.S. banking industry has been under pressure from a housing slump and sluggish economy that has caused financial institutions to post stunning write-downs and losses. Congress last week authorized the U.S. Treasury to spend up to $700 billion to ...
• EU reaches agreement on tackling bank crisis
... said in a statement. "We are not going to tolerate a Lehman Brothers scenario," said French Finance Minister Christine Lagarde, who led the talks, referring to the U.S. investment bank whose bankruptcy set off a chain of losses at other institutions.