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According to U.S. Treasury Secretary Timothy Geithner, the Federal Reserve should lose its ability to bail out “big, failing financial firms like AIG and Bear Stearns.”
He said, “Any firm that puts itself in a position where it cannot survive without special assistance from the government …

Everyone’s favorite business to hate is now looking to ask the government to pay out $2.4 million in bonuses to executives at the company. This comes after just a few months ago, the company green-lit several hundred million dollars in bonus money that started a …

It seems as though the Oil and Petroleum Exporting Countries, or OPEC, has finally gotten exactly what they want. The price of a barrel of oil reached six month highs the other day and now there is a looming meeting of the countries to discuss …

The finance chiefs from the G7 said yesterday that the worst of the recession of the global economy may be over. They also pledged to make sure that the big financial firms stick around.
Group of Seven finance ministers and central bankers said after a meeting …

News today from the Bush Administration says that they may pass the auto bailout on Wednesday. Like the proposal from the U.S. House of Representatives, the money will be coming from the banking bailout funds.
Treasury Secretary, Henry Paulson, said that the government would not just …