en-us Reuters UK) - Citigroup C and Wells Fargo WFC said they were paying back funds to the U.S. government, in transactions that will end taxpayers' capital support of the biggest U.S. banks much sooner than had been expected just weeks ago.With regulators signing off on the...]]> Thu, 17 Dec 2009 03:38:50 -0800 BAC C PRU WFC BAC,C,PRU,WFC Reuters UK) - Plans from Wells Fargo WFC and Citigroup C to repay taxpayer funds will put the U.S. government on track to reduce its bailout investments in banks by more than 75 percent, while earning a healthy profit for the U.S., U.S. Treasury Secretary Timothy Geithner said on...]]> Thu, 17 Dec 2009 03:34:47 -0800 C WFC C,WFC Reuters UK) - Citigroup C is talking with the U.S. government about paying back its bailout money, but it is not clear whether a deal is imminent, a person familiar with the matter said on Thursday.The bank is hopeful, though, and is planning...]]> Thu, 17 Dec 2009 02:15:53 -0800 BAC C GS JPM MS WFC BAC,C,GS,JPM,MS,WFC Reuters UK) - The U.S. economy is struggling against "headwinds" that mean the government must retain the ability to respond to unexpected crises, even as it starts to wind down emergency programs, Treasury Secretary Timothy Geithner said on Thursday.Testifying before a congressional panel that oversees the Troubled...]]> Thu, 17 Dec 2009 02:14:54 -0800 BAC C BAC,C Reuters UK) - The U.S. dollar's three day rally stalled on Wednesday, encouraging foreign investors to buy some Wall Street stocks late in the day, but a series of negative sovereign credit rating actions across Europe and the Middle East dampened demand for high-yielding assets.Commodity prices...]]> Thu, 17 Dec 2009 01:35:30 -0800 C C Reuters UK) - Bank of America BAC fully repaid the U.S. government the $45 billion (27.6 billion pounds) in aid it took during the height of the financial crisis, the company said on Wednesday.The Charlotte, North Carolina-based lender said it had sent the U.S. Treasury...]]> Thu, 17 Dec 2009 01:33:20 -0800 BAC C BAC,C Reuters UK) - Citigroup C plans to pay back TARP by raising money in an equity offering that could be announced as early as Thursday and could be some $20 billion (12.2 billion pounds), television network CNBC reported, citing sources.Earlier on Wednesday, the bank's chairman, Dick Parsons, told...]]> Thu, 17 Dec 2009 01:31:39 -0800 BAC C GS JPM MS BAC,C,GS,JPM,MS Reuters UK) - U.S. Treasury Secretary Timothy Geithner on Wednesday extended the government's $700 billion (430 billion pounds) financial bailout fund to October 2010, saying it was still needed for "significant challenges" in the economy.Geithner, in letters to congressional leaders, pledged to deploy no more than $550...]]> Thu, 17 Dec 2009 01:29:40 -0800 AIG BAC AIG,BAC Reuters UK) - The projected long-term cost of the U.S. government's bailout of the nation's big banks is going to be at least $200 billion less than previously thought, a Treasury Department official said on Sunday night.The Obama administration had estimated the cost to taxpayers of the...]]> Thu, 17 Dec 2009 00:15:00 -0800 BAC C BAC,C Reuters) - The U.S. Treasury will not recover any portion of the $3.7 billion still outstanding in loans it made to automaker Chrysler under the Troubled Asset Relief Program, according to the terms of a plan filed with bankruptcy court on Tuesday.The U.S. government has filed proofs of...]]> Wed, 16 Dec 2009 23:41:53 -0800 Reuters) - Wells Fargo & Co WFC sold $10.65 billion in stock on Tuesday to help repay a $25 billion bailout received from the U.S. government last year.Wells Fargo sold its shares at $25 each, about 2 percent below their closing share price on Monday of...]]> Wed, 16 Dec 2009 23:29:23 -0800 BAC C PNC WFC BAC,C,PNC,WFC Reuters) - Citigroup Inc and Wells Fargo & Co said they were paying back funds to the U.S. government, in transactions that will end taxpayers' capital support of the biggest U.S. banks much sooner than had been expected just weeks ago.With regulators signing off on the...]]> Wed, 16 Dec 2009 22:58:38 -0800 C WFC C,WFC Reuters) - Plans from Wells Fargo & Co and Citigroup to repay taxpayer funds will put the U.S. government on track to reduce its bailout investments in banks by more than 75 percent, while earning a healthy profit for the U.S., Treasury Secretary Timothy Geithner said on Monday."With the...]]> Wed, 16 Dec 2009 22:58:16 -0800 WFC WFC Reuters) - The Obama administration plans to channel money from the government financial bailout fund to small businesses in an effort to stem the political and economic fallout of high unemployment, the Washington Post said in its Friday editions.The Post quoted unnamed sources as saying the White House is...]]> Wed, 16 Dec 2009 22:00:23 -0800 Reuters) - Citigroup Inc's negotiations to exit TARP are uncertain, but headed in the right direction, a Treasury official told television network CNBC.The Treasury official told CNBC that Citigroup was likely to strike a deal soon.Citigroup plans to pay back TARP by raising money in an equity offering...]]> Wed, 16 Dec 2009 21:53:26 -0800 C C Reuters) - Citigroup Inc C plans to pay back TARP by raising money in an equity offering that could be announced as early as Thursday and could be some $20 billion, television network CNBC reported, citing sources.Earlier on Wednesday, the bank's chairman, Dick Parsons, told CNBC that Citigroup...]]> Wed, 16 Dec 2009 21:46:14 -0800 BAC C GS JPM MS BAC,C,GS,JPM,MS Reuters) - Treasury Secretary Timothy Geithner on Wednesday extended the government's $700 billion financial bailout fund to October next year, saying the economy still faced "significant challenges."Geithner, in letters to congressional leaders, pledged to deploy no more than $550 billion from the Troubled Asset Relief Program, allowing...]]> Wed, 16 Dec 2009 21:41:57 -0800 Reuters) - The U.S. government's $700 billion bailout program helped stabilize the financial system, but has done little to boost lending or stave off millions of home foreclosures, a government watchdog group said on Wednesday.The Congressional Oversight Panel's new monthly report on the Troubled Asset Relief Program...]]> Wed, 16 Dec 2009 21:39:40 -0800 Reuters) - The Treasury must seek Congressional approval if it wants to funnel some of its $700 billion bailout fund to jobs programs that do not involve financial services firms as intermediaries, a key overseer said on Wednesday.Elizabeth Warren, chairman of the Congressional Oversight Panel, told CNBC television that...]]> Wed, 16 Dec 2009 21:38:27 -0800 Reuters) - The Obama administration plans to announce on Wednesday that it intends to extend the life of the $700 billion financial bailout fund until next October, administration officials said on Tuesday.One official said the administration was expected to pledge to use no more than $560 billion...]]> Wed, 16 Dec 2009 21:33:42 -0800