Kevin G. Hall

Recent stories written by Kevin G. Hall

Fed had 'terrible choices,' Treasury head testifies (1/28/2010)

WASHINGTON – Treasury Secretary Timothy Geithner told a hostile congressional committee Wednesday that the only way to rescue the insurance giant American International Group in 2008 was to pay U.S. and foreign banks the full face value of $62 billion in bets on risky securities.

Obama calls for bank limits (1/22/2010)

WASHINGTON – Trying to ride a wave of public anger at Wall Street, President Barack Obama on Thursday proposed tough new restrictions designed to limit the size of the nation's largest commercial banks and reduce the risks they take in complex and exotic investments.

Bank CEO gives partial apology (1/14/2010)

WASHINGTON – Goldman Sachs' chief acknowledged Wednesday that the investment bank engaged in "improper" behavior in 2006 and 2007 when it made huge bets on a housing downturn while peddling as safe more than $40 billion in securities backed by risky U.S. home loans.

Fed rescue turns profit (1/13/2010)

WASHINGTON – In dual developments that underscored the complex reality of stressful financial times, the Federal Reserve said Tuesday that it returned to taxpayers a record $46 billion in profit from its rescue of the financial system, while a congressional committee announced that it had subpoenaed controversial bailout documents from the central bank.

Geithner seeks extended TARP (12/10/2009)

WASHINGTON – A day ahead of testimony in which he's sure to be grilled about the controversial taxpayer-funded bank bailout program, Treasury Secretary Timothy Geithner announced Wednesday that he wants to extend it into late 2010.

Obama focuses on jobs (12/3/2009)

WASHINGTON – The nation's 10.2 percent unemployment rate gets renewed attention this week as President Barack Obama hosts a jobs summit today, a day before the Labor Department reports new job numbers that are unlikely to show significant improvement.