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• Democrats' Stimulus Plan May Reach $700 Billion

  Facing an increasingly ominous economic outlook, President-elect Barack Obama and other Democrats are rapidly ratcheting up plans for a massive fiscal stimulus program that could total as much as $700 billion over the next two years. Posted Nov 23 2008, 04:00 PM by washingtonpost.com - Business Filed under: Washington, DC, The White House, George W. Bush, Medicare, Dow Jones & Co. Inc., Citigroup Inc., Charles Schumer, John McCain, Iraq, CBS Corporation, Cable News Network LP LLLP, Barack Obama, Chicago, Harvard University, David Axelrod, ABC Inc., Jared Bernstein, Economic Policy Institute, Goldman Sachs Group Inc., Nancy Pelosi, May, Jon Corzine, Plan, Billion, Robert Reich, Franklin D. Roosevelt, John Boehner, Austan Goolsbee, Lawrence Summers, White House Council of Economic Advisers, Stimulus, Martin Feldstein, National Bureau of Economic Research, Reach, Democrats', $700

• Obama Picks N.Y. Fed President Geithner as Treasury Secretary

  President-elect Barack Obama has selected New York Federal Reserve Bank President Timothy F. Geithner as Treasury secretary, handing the post to a primary architect of the Bush administration's response to the financial crisis, according to Democratic and industry officials yesterday. Posted Nov 21 2008, 04:00 PM by washingtonpost.com - Business Filed under: Washington, DC, Wall Street, New York, United States, Bear, Stearns & Co. Inc., Fed, Henry M. Paulson, U.S. Department of Commerce, Georgetown University, The White House, The Washington Post Company, Dow Jones & Co. Inc., Lehman Brothers Inc., Citigroup Inc., Federal Reserve Bank of New York, As, President, Mexico, Hillary Clinton, Barack Obama, Illinois, Obama, Chicago, Bill Clinton, N.Y., Asia, Russia, Goldman Sachs Group Inc., Daniel K. Tarullo, U.S. Office of Management and Budget, Bill Richardson (Politician), U.S. Senate Committee on Banking, Housing, and Urban Affairs, Robert Rubin, University of Chicago, Jason Furman, The Brookings Institution, U.S. House of Representatives, Treasury, Penny Pritzker, Secretary, Timothy Geithner, U.S. Senate, Austan Goolsbee, Lawrence Summers, New Mexico, U.S. Congressional Budget Office, United Nations, Picks, Kent Conrad, White House Council of Economic Advisers, Anne E. Kornblut, Chris Cillizza, National Economic Council, American International Group Inc., Geithner, Scott Talbott, Geithner Treasury, Joining Summers

• Markets Rally on Treasury Selection

  After two days of brutal selling that pushed Wall Street to its worst levels in years, stocks rallied yesterday but still finished sharply lower for the week. Posted Nov 21 2008, 04:00 PM by washingtonpost.com - Business Filed under: Wall Street, New York, Henry M. Paulson, on, Markets, Dow Jones & Co. Inc., Citigroup Inc., Federal Reserve Bank of New York, Barack Obama, Rally, Goldman Sachs Group Inc., Wal-Mart Stores Inc., New York Mercantile Exchange Inc., First Horizon National Corporation, Christopher Low, Treasury, Timothy Geithner, Memphis, H. Lee Scott, Selection, Jan Hatzius

• Financial System Suffers Relapse

  The financial system, which had recently shown glimmers of improvement, is unraveling again. Posted Nov 20 2008, 04:00 PM by washingtonpost.com - Business Filed under: Washington, DC, Wall Street, U.S. Federal Reserve, New York, United States, Financial, JP Morgan Chase & Co., Henry M. Paulson, U.S. Securities and Exchange Commission, Citigroup Inc., U.S. Department of the Treasury, Connecticut, General Motors Corporation, Barack Obama, Goldman Sachs Group Inc., Detroit, Chrysler Holding LLC, Somalia, System, Sterne, Agee & Leach Inc., Allen Sinai, Sean Ryan, Avalon Partners Inc., Peter Cardillo, Matt McCormick, Relapse, Suffers, Addison A. Armstrong, Prince Alwaleed bin Talal

• Citigroup to Eliminate 50,000 Jobs After Posting Steep Mortgage Losses

  Citigroup will reduce its global workforce by about 50,000 jobs, or about 15 percent, as the financial services giant tries to steady itself after recording losses of more than $20 billion over the past year, executives said yesterday. Posted Nov 17 2008, 04:00 PM by washingtonpost.com - Business Filed under: New York, United States, to, Bethesda, After, Wells Fargo & Company, Citigroup Inc., U.S. Department of the Treasury, India, The Associated Press, London, Goldman Sachs Group Inc., Wachovia Corporation, Jobs, Losses, Mortgage, steep, Citigroup, Vikram Pandit, Chevy Chase Bank FSB, 50,000, Posting, Eliminate, Win Bischoff

• A Conversion in 'This Storm'

  First of two articles Treasury Secretary Henry M. Paulson Jr. had a stern message for more than two dozen of the nation's most powerful hedge fund managers gathered in the third-floor conference room near his office. Paulson told them it was time to begin regulating the opaque realm of hedge fun... Posted Nov 17 2008, 04:00 PM by washingtonpost.com - Business Filed under: Washington, DC, Wall Street, U.S. Federal Reserve, New York, Bear, Stearns & Co. Inc., Ben Bernanke, Henry M. Paulson, In, A, Europe, The White House, George W. Bush, Barclays plc, U.S. Securities and Exchange Commission, Lehman Brothers Inc., Federal Reserve Bank of New York, U.S. Department of the Treasury, Enron Corporation, Barack Obama, Illinois, Merrill Lynch & Co. Inc., London, Morgan Stanley, Goldman Sachs Group Inc., Wachovia Corporation, Richard Fuld, Capitol Hill, Washington Mutual Inc., Federal Deposit Insurance Corporation, Sheila Bair, Christopher Cox, Timothy Geithner, John Thain, American International Group Inc., John Mack, Storm', Conversion, 'This

• Top Goldman Executives To Forgo 2008 Bonuses

  NEW YORK, Nov. 16 -- Goldman Sachs chief executive Lloyd Blankfein and six other top executives at the bank will not be receiving cash or stock bonuses for 2008, a spokesman said Sunday. Posted Nov 16 2008, 04:00 PM by washingtonpost.com - Business Filed under: United States, to, Bear, Stearns & Co. Inc., Lehman Brothers Inc., Top, The Associated Press, Morgan Stanley, Goldman Sachs Group Inc., Executives, 2008, Lloyd Blankfein, David Viniar, Goldman, Gary Cohn, Michael Sherwood, J. Michael Evans, Bonuses, Lucas van Praag, Jon Winkelried, Forgo

• Nation's Economic Crisis Forces Democrats to Focus More Intensely on Creating Jobs

  For most of his campaign, President-elect Barack Obama's economic message was a call to restore balance to an off-kilter system, with investments in health care and education and reforms to the tax code and labor laws. Posted Nov 15 2008, 04:00 PM by washingtonpost.com - Business Filed under: Crisis, United States, to, More, on, Virginia, John McCain, Barack Obama, Focus, Bill Clinton, John Edwards (Politician), U.S. Democratic Party, Goldman Sachs Group Inc., Service Employees International Union, Democrats, AFL-CIO, North Carolina, Gene Sperling, Jobs, Economic, Center for American Progress, Sander Levin, Anna Burger, George Miller, Chris Van Hollen, Doug Holtz-Eakin, White House Council of Economic Advisers, Terence R. McAuliffe, Nation's, Forces, Democratic Congressional Campaign Committee, Old Dominion University, James Kvaal, Creating, Works Progress Administration, Bill Samuels, Intensely

• Toward a New International Capitalism

  "This is a decisive moment for the global economy," President Bush declared yesterday in New York as leaders from the 20 largest economies headed toward Washington for an emergency meeting on the unfolding global economic crisis. Posted Nov 13 2008, 04:00 PM by washingtonpost.com - Business Filed under: Washington, DC, Wall Street, New York, United States, Google Inc., A, George W. Bush, New, India, Enron Corporation, New Hampshire, China, Russia, Goldman Sachs Group Inc., International, Spain, Steven Pearlstein, Drexel Burnham Lambert Group Inc., The Blackstone Group LP, Ireland, Iceland, Toward, Bretton Woods, Capitalism, Nucor Corporation

• Deadline Nears for Banks as Treasury Program Progresses

  NEW YORK, Nov. 10 -- Publicly traded banks have until Friday to apply for capital injections from the Treasury Department, and it will take "a few months" for the government to invest all of the $250 billion that was set aside for preferred-stock investments in financial firms, according to the... Posted Nov 10 2008, 04:00 PM by washingtonpost.com - Business Filed under: New York, JP Morgan Chase & Co., Henry M. Paulson, for, Bank of America Corporation, Citigroup Inc., U.S. Department of the Treasury, As, Morgan Stanley, Goldman Sachs Group Inc., PricewaterhouseCoopers LLP, Deadline, Motorola Inc., Banks, Treasury, Securities Industry and Financial Markets Association, Nears, Office of Financial Stability, Neel Kashkari, Program, Don McLellan, Progresses, Howard Schweitzer, James Lambright

• How Free-Marketers Crafted Bank Program

  When Treasury Secretary Henry M. Paulson Jr. needed someone to design one of the largest government interventions in the U.S. economy, he turned to one of his staff's most ardent disciples of free-market principles. Posted Nov 07 2008, 04:00 PM by washingtonpost.com - Business Filed under: United States, Henry M. Paulson, The White House, George W. Bush, How, Goldman Sachs Group Inc., Capitol Hill, David Nason, Bank, Condoleezza Rice, Dennis Hastert, Michele Davis, Jim Wilkinson, Dan Jester, Kevin Fromer, Alexander Hamilton, Program, Free-Marketers, Crafted, Jeremiah Norton

• Treasury Is Working To Widen the Rescue

  The federal government is preparing to take tens of billions of dollars in ownership stakes in an array of companies outside the banking sector, dramatically widening the scope of the Treasury Department's rescue effort beyond the $250 billion set aside for traditional financial firms, government... Posted Nov 06 2008, 04:00 PM by washingtonpost.com - Business Filed under: U.S. Federal Reserve, to, Bethesda, The, The White House, U.S. Department of the Treasury, Rescue, Connecticut, General Motors Corporation, Is, Barack Obama, Chicago, Morgan Stanley, Goldman Sachs Group Inc., Capitol Hill, Federal Deposit Insurance Corporation, Sheila Bair, Treasury, Widen, CapitalSource Finance LLC, Working, GMAC LLC, Hartford, Michele Davis, MetLife Inc., Toni Simonetti, The Hartford Financial Services Group Inc., Dennis R. Glass, Shannon LaPierre

• Effectiveness of AIG's $143 Billion Rescue Questioned

  A number of financial experts now fear that the federal government's $143 billion attempt to rescue troubled insurance giant American International Group may not work, and some argue that company shareholders and taxpayers would have been better served by a bankruptcy filing. Posted Nov 02 2008, 04:00 PM by washingtonpost.com - Business Filed under: U.S. Federal Reserve, United States, of, Federal Reserve Bank of New York, U.S. Department of the Treasury, Rescue, Goldman Sachs Group Inc., Billion, Questioned, American International Group Inc., David Schiff, AIG's, Effectiveness, Ann Rutledge, Starr International, Lee Wolosky, $143

• Discord on Economies In a World Of Trouble

  Presidents and prime ministers from major countries around the world will gather in Washington in two weeks to begin heated negotiations over the shape of global financial regulation as they scramble to avoid a deep worldwide recession and restore confidence in markets. Posted Nov 01 2008, 05:00 PM by washingtonpost.com - Business Filed under: Washington, DC, U.S. Federal Reserve, United States, In, on, A, European Union, United Kingdom, Europe, The White House, George W. Bush, of, World, India, The World Bank Group, John McCain, Barack Obama, International Monetary Fund, China, Bank of England, University of Oxford, Asia, London, Beijing, Tokyo, Shannon Smiley, Shanghai, Berlin, Goldman Sachs Group Inc., Akiko Yamamoto, Trouble, Paris, Gordon Brown, Dana Perino, White House National Security Council, UK Financial Services Authority, Nicolas Sarkozy, Karla Adam, Angela Merkel, Economies, Seoul, London School of Economics and Political Science, Bretton Woods, Willem Buiter, Taro Aso, Stella Kim, Dimitrios Tsomocos, Discord, Howard Davies, Tower of Babel, Robert Hormats, Michael Meister, Versailles, Institute of Finance

• Hank Paulson's $125 Billion Mistake

  It was only a few weeks ago that most right-thinking economists and left-leaning bloggers were jumping on Treasury Secretary Hank Paulson for his plan to jump-start the markets in asset-backed securities by having the government buy them up at auction. Much better, they argued, to use the $700... Posted Oct 30 2008, 05:00 PM by washingtonpost.com - Business Filed under: U.S. Federal Reserve, JP Morgan Chase & Co., Henry M. Paulson, United Kingdom, Wells Fargo & Company, Goldman Sachs Group Inc., Billion, Steven Pearlstein, Gordon Brown, Paulson's, National City, Mistake,