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Job openings rise to highest point since Sept. 2008
WASHINGTON — U.S. businesses in February posted the largest number of job openings in more than two years, evidence that hiring is picking up as the economy grows. The Labor Department said Wednesday that employers advertised 3.1 million available jobs that month, the most since September 2008. That was the height of the financial crisis, […]
Fed names banks that drew loans during crisis
WASHINGTON — For the first time in its 98-year history, the Federal Reserve on Thursday identified banks that borrowed from its oldest lending program, naming those that drew emergency loans during the financial crisis. The Fed was forced to make the information public after the Supreme Court rejected a bid by major banks to keep […]
Supreme Court won’t stop Fed from revealing loan data
WASHINGTON — The Supreme Court won’t stop the release of Federal Reserve Board documents identifying financial companies that received Fed loans to survive the financial crisis. An association of bankers wanted to stop the release but the court refused Monday to hear its appeal. The 2nd U.S. Circuit Court of Appeals in New York City […]
Panel finds financial crisis was avoidable
WASHINGTON — The government-appointed panel investigating the roots of the financial crisis says the meltdown occurred because government officials and Wall Street executives ignored warning signs and failed to manage risks. The crisis could have been avoided, the Financial Crisis Inquiry Commission determined in a final report released Thursday that was only supported by Democrats […]
TD Bank to buy Chrysler Financial for $6.3B
TORONTO — Toronto-Dominion Bank has agreed to buy Chrysler Financial, the automaker’s old lending arm, from private equity firm Cerberus Capital Management LP for $6.3 billion. The deal is the latest example of a healthy Canadian bank using their muscle to snap up U.S. institutions battered by the financial crisis. Toronto-Dominion CEO Ed Clark said […]
Treasury Secretary Geithner says bailout will cost less than $25B
WASHINGTON — Treasury Secretary Timothy Geithner said Thursday that the $700 billion financial bailout will end up costing taxpayers less than congressional analysts have estimated. The Congressional Budget Office has estimated that taxpayers will lose $25 billion on the rescue of banks, other financial institutions and automakers that came in at the peak of the […]
Wells Fargo to pay Citigroup $100M to settle Wachovia lawsuit
NEW YORK — Wells Fargo has agreed to pay $100 million to Citigroup to settle all claims in a dispute related to its 2008 acquisition of Wachovia Corp. Wachovia nearly collapsed in October 2008, at the height of the financial crisis, under the weight of losses from real estate loans that went bad. The Charlotte, […]
