Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Top News

Bailout needs time to work: Official

Nov. 10, 2008
The government is pumping billions into the financial system under its $700 billion bailout plan, but it will take time before banks start lending, the Treasury official heading the effort said Monday.
Related Stories from UPI.com

GAO: Bailout program needs more oversight

WASHINGTON, Dec. 2 (UPI) -- The federal government's $700 billion bailout program for the U.S. financial industry lacks sufficient oversight, congressional investigators said.

Insurers seeking banks for bailout funds

WASHINGTON, Nov. 21 (UPI) -- Insurance companies buying banks to qualify for a share of the $700 billion U.S. bailout program have no guarantee the strategy will work, the Treasury said.
Paulson says recovery will take time

Paulson says recovery will take time

WASHINGTON, Nov. 18 (UPI) -- U.S. Treasury Secretary Henry Paulson Jr. told members of Congress Tuesday to look beyond Wall Street to find the effects of the financial bailout.

House grills Treasury on bailout

WASHINGTON, Nov. 14 (UPI) -- A U.S. House panel kept up the congressional criticism of the Treasury Department's handling of the $700 billion financial bailout Friday.
Sen. Dodd chastises bailout beneficiaries

Sen. Dodd chastises bailout beneficiaries

WASHINGTON, Nov. 13 (UPI) -- Sen. Christopher Dodd, D-Conn., ripped the beneficiaries of the $700 billion U.S. economic bailout, warning against cavalier action in the midst of the crisis.

Treasury eyes credit-focus bailout

WASHINGTON, Nov. 13 (UPI) -- U.S. officials charged with pulling the country out of its financial malaise say they're working on a credit-focused plan aimed at thawing consumer credit.

Canada triples aid to banks' credit

TORONTO, Nov. 13 (UPI) -- The Conservative Canadian government is tripling the amount of financial aid to banks in a bid to keep mortgage and credit markets viable.

U.S. bank lobbying provokes ire

WASHINGTON, Nov. 7 (UPI) -- U.S. banks participating in the $700 billion financial bailout plan should not continue lobbying in Washington, an influential advocacy group leader said.
Italy working on a new bailout plan

Italy working on a new bailout plan

ROME, Nov. 5 (UPI) -- Italian Prime Minister Silvio Berlusconi said the government would adopt a new plan to help banks and spur growth in lending to stimulate the economy.

Banks lining up for bailout money

WASHINGTON, Nov. 4 (UPI) -- After a slow start, U.S. banks are starting to line up for a share of the $700 billion bailout program approved by Congress, Treasury officials say.

Swedbank to accept bailout funds

STOCKHOLM, Sweden, Nov. 4 (UPI) -- Swedbank in Stockholm, Sweden, said it would participate in the government's bailout program and also said it would prefer some company.

Merkel urges banks to accept bailout help

BERLIN, Nov. 1 (UPI) -- German Chancellor Angela Merkel said banks should take advantage of a $637 billion government bailout plan few have availed themselves of so far.

Two banks vow to turn bailout into loans

WASHINGTON, Oct. 31 (UPI) -- Two U.S. banks have said they would put a substantial amount of their federal bailout assistance funds into circulation as loans in short order.
Sarkozy pressures banks to increase credit

Sarkozy pressures banks to increase credit

PARIS, Oct. 30 (UPI) -- The mandate to increase credit to customers built into the French government's financial bailout plan could be problematic for banks, a noted economist said.
Bailed out firms are doling out dividends

Bailed out firms are doling out dividends

WASHINGTON, Oct. 30 (UPI) -- A large share of the U.S. federal bailout funds allocated to banks will end up in the hands of the banks' shareholders, much to Sen. Charles Schumer's dismay.
1 of 29
French Open tennis in Paris
View Caption
Russian Maria Sharapova signs autographs after winning her French Open womens first round match against Romanian Alexandra Cadantu at Roland Garros in Paris on May 29, 2012. Sharapova defeated Cadantu 6-0, 6-0 to advance to the next round. UPI/David Silpa