Complete coverage on

Financial Rescue Plans

Spain requests aid for its troubled banking sector, as CNN's Al Goodman reports.

Latest Stories

CNNMoney: Watchdog blasts housing program for 'hardest hit'updated: Thu Apr 12 2012 05:38:00

A federal-state program aimed at helping homeowners in states hardest hit by the mortgage crisis is falling far short of its goals, a federal watchdog said in a report released Thursday.

CNNMoney: CEOs paid well at bailed-out banks - watchdogupdated: Tue Jan 24 2012 14:59:00

When Congress bailed out big banks, it also limited the pay of CEOs at those banks -- one of the main reasons why banks wanted out of the bailout program.

CNNMoney: Small banks still stuck in federal bailoutupdated: Thu Oct 27 2011 07:17:00

Hundreds of struggling small community banks could be stuck in the federal government's much-maligned bank bailout program, a watchdog agency warned in a report released Thursday.

CNNMoney: Europe bank rescue is not enoughupdated: Mon Oct 10 2011 17:08:00

The leaders of Europe's two largest economies have said they've agreed on a "comprehensive package" of measures to address the eurozone sovereign debt and banking crisis, but they did not give any details.

Explaining the bailout with beerupdated: Thu Oct 06 2011 06:14:00

CNN's Becky Anderson explains the Euro bailout fund and who pays what by using mugs of beer.

Banks face new European stress tests updated: Thu Oct 06 2011 06:14:00

Europe's top banking regulator has started to re-examine the strength of the region's banks, modelling a big writedown of all peripheral eurozone sovereign debt.

CNNMoney: Greek default is just a matter of timeupdated: Wed Oct 05 2011 07:01:00

It was once unthinkable but is now widely expected: Greece is headed toward default.

CNNMoney: Did big banks leave TARP too soon?updated: Fri Sep 30 2011 05:35:00

Regulators were under pressure to cut the biggest banks loose from the Wall Street bailout program, a federal watchdog said in a report issued Friday.

CNNMoney: TARP lawyers have some explaining to doupdated: Thu Sep 29 2011 15:16:00

Treasury paid five law firms more than $27 million in fees to create contracts governing the TARP bailout of Wall Street banks, but law firms did a poor job of explaining what they did with the money, a watchdog said.

Germany backs greater powers for Europe's bailout fundupdated: Thu Sep 29 2011 09:02:00

What is happening with the eurozone bailout fund?

Europe's bailout fund: Where countries standupdated: Thu Sep 29 2011 07:17:00

As debt-ridden Greece braces for strikes while its prime minister attempts to reassure Europe that his country will pay its bills, the 17 eurozone countries are in various stages of deciding whether to approve the expansion of Europe's bailout fund.

CNNMoney: U.S. loses $1.3 billion in exiting Chryslerupdated: Thu Jul 21 2011 17:41:00

U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.

CNNMoney: Still $100 billion to go for TARPupdated: Wed May 25 2011 16:23:00

It's been a pretty good week for the Treasury Department's bailout program.

CNNMoney: Bank bailout turns a profitupdated: Wed Mar 30 2011 16:13:00

Don't look now, but the bank bailout is starting to turn a profit.

CNNMoney: TARP watchdog blasts Obama's foreclosure programupdated: Tue Jan 25 2011 20:03:00

The Obama Administration's main foreclosure-prevention program continues to fall short, and last year's Wall Street reform act does not adequately address the threat that big financial firms pose to the broader economy, the top federal bailout watchdog said Tuesday.

CNNMoney: TARP cost will be a 'fraction' of original price tagupdated: Thu Dec 16 2010 12:22:00

Treasury Secretary Tim Geithner outlined the benefits of the government's bailout of the financial system Thursday, saying that the overall cost will be a "fraction" of the original estimate.

CNNMoney: TARP cost estimate cut to $25 billion, says CBOupdated: Tue Nov 30 2010 16:38:00

Two years after the $700 billion Troubled Asset Relief Program was launched, the Congressional Budget Office now estimates the government's economic rescue package will cost taxpayers $25 billion.

CNNMoney: Watchdog: Funny math used on AIG bailoutupdated: Sun Nov 14 2010 16:46:00

The Treasury Department changed its accounting style and produced an overly optimistic estimate of taxpayer losses in the AIG bailout, the special investigator for the federal bailouts said in a report released Monday.

CNNMoney: AIG moves into the black for top holder: U.S.updated: Mon Nov 01 2010 13:39:00

The Treasury Department's multi-billion dollar bailout of American International Group moved into the black after the insurer completed two transactions that raised nearly $37 billion, the department said Monday.

CNNMoney: The bankers who said 'hell no' to bailoutsupdated: Thu Sep 16 2010 07:41:00

Two years after the collapse of Lehman Brothers, it seems safe to say that there is still a lot of resentment toward the financial sector.

CNNMoney: Foreign economies aided by bailout, didn't help U.S.updated: Thu Aug 12 2010 09:53:00

The $700 billion bank bailout program helped rescue overseas economies, but international bailout programs did little to help the United States in return, according to a report from a congressionally appointed watchdog group released Thursday.

CNNMoney: TARP failed Main Street banksupdated: Wed Jul 14 2010 03:58:00

While bailed-out Wall Street is back on its feet and making profits, Main Street banks have gotten little to no boost from taxpayer bailouts, a watchdog panel said Wednesday.

CNNMoney: Geithner defends TARPupdated: Tue Jun 22 2010 12:31:00

Treasury Secretary Tim Geithner defended the government's bailout of the financial system on Tuesday, saying it has been a "critical" part of the economic recovery and will ultimately cost less than expected.

Fortune: TARP's tiniest failures add upupdated: Fri May 28 2010 15:26:00

It might seem that the banking sector's bailout saga is nearing its close, leaving room to focus on other catastrophes like the European debt crisis or the Gulf oil spill, but some small banks across the country that benefited from TARP are still struggling to stay afloat, and many more will likely fail.

CNNMoney: Bailout watchdog: AIG was 'Frankenstein'updated: Wed May 26 2010 15:32:00

An overseer of the $700 billion financial sector bailout said Wednesday that insurer AIG lacked regulation, leading to a taxpayer-funded rescue that "broke all the rules."

Fortune: Speed saves: How to instantly stop the next banking crisisupdated: Wed May 26 2010 13:10:00

During the next banking crisis, we will need speed. Remember how floundering financial firms, like Lehman Brothers, AIG, and Fannie Mae, contributed to fear and uncertainty - creating problems for their customers, counterparties, and the markets? Many commercial and investment banks panicked, stopped extending credit, and greatly damaged our economy and financial system.

CNNMoney: Geithner: Banks should bear bailout burdenupdated: Tue May 04 2010 12:30:00

Treasury Secretary Tim Geithner told lawmakers Tuesday that a proposed bank fee could help stabilize the financial system and recoup bailout costs by targeting banks that engage in more risky behavior.

CNNMoney: Geithner: Bailout to cost less than expectedupdated: Fri Apr 23 2010 18:15:00

The cost of the government's controversial bailout of the financial system could amount to less than a third of what the Obama administration originally expected, Treasury Secretary Timothy Geithner said in a letter to Congress Friday.

Irish 'bad bank' to buy 81B euros in debtupdated: Tue Mar 30 2010 22:49:00

Ireland's government-backed "bad bank" is taking on 16 billion euros ($21.5 billion) in debt from five troubled Irish banks -- a first step toward buying 81 billion euros ($109 billion) in bad loans, the government announced.

Ireland's financial overhaulupdated: Tue Mar 30 2010 22:49:00

CNN's Jim Boulden discusses Ireland's plan to set up a "bad bank" where some toxic loans will be transferred.

CNNMoney: Pay czar to probe execs at 419 bailed-out firmsupdated: Mon Mar 22 2010 15:41:00

Government "pay czar" Kenneth Feinberg plans to investigate the pay of executives at 419 firms that took TARP money, according to a report by The Wall Street Journal on Monday.

Fortune: Treasury nets $1.5 billion on BofA warrant saleupdated: Thu Mar 04 2010 10:17:00

Bank of America is leaving the Troubled Asset Relief Program with a bang.

CNNMoney: Bailout cop: TARP's not workingupdated: Sun Jan 31 2010 11:06:00

The watchdog charged with monitoring the government's $700 billion bailout unleashed one of his harshest criticisms of the program to date, questioning its overall effectiveness.

CNNMoney: Obama calls for bailout taxupdated: Sun Jan 17 2010 13:53:00

President Obama on Thursday called on Congress to tax the largest banks to ensure that U.S. taxpayers don't lose a penny from the federal bailout of the financial, auto and insurance industries over the past year.

CNNMoney: Tax big banks to death? Hold on a sec.updated: Thu Jan 14 2010 13:41:00

The Obama administration wants to slap big banks and insurers on the wrist with a new tax. Oh wait, it's not a tax. It's a "financial crisis responsibility fee."

CNNMoney: Obama to propose bank tax to recoup bailoutupdated: Wed Jan 13 2010 10:17:00

President Obama will propose a new tax on financial institutions Thursday to ensure that taxpayers who bailed out banks get paid back, according to a senior administration official.

Obama to announce bank fees to cover billions in TARP lossesupdated: Wed Jan 13 2010 09:10:00

President Obama, looking to recoup billions in expected losses from the Troubled Asset Relief Program, will announce a plan Thursday to impose fees on the country's biggest financial institutions, a senior administration official told CNN.

Big bonus, bigger backlashupdated: Wed Jan 13 2010 09:10:00

The bailed-out banks are bracing for their paydays in the form of bonuses as well as the outrage among Americans.

CNNMoney: Obama to announce bank fee planupdated: Wed Jan 13 2010 07:34:00

President Obama, looking to recoup billions in expected losses from the Troubled Asset Relief Program, will announce a plan Thursday to impose fees on the country's biggest financial institutions, a senior administration official told CNN.

CNNMoney: Bailout's big mistake: Loans to small banksupdated: Thu Dec 24 2009 06:07:00

The last of the big banks have returned their bailout funds, but uncorking the champagne would be premature: taxpayers still have a lot of skin in the game, and getting paid back only gets more difficult from here on out.

CNNMoney: Wells Fargo to repay $25 billion bailoutupdated: Mon Dec 14 2009 20:25:00

Wells Fargo said Monday it has reached an agreement with the government to return $25 billion in bailout money it received during last year's financial crisis.

CNNMoney: TARP bailout extended 10 monthsupdated: Wed Dec 09 2009 14:22:00

The controversial $700 billion federal bailout program will be extended through Oct. 3, 2010, Treasury Secretary Tim Geithner said Wednesday.

CNNMoney: Is TARP bailout helping the economy?updated: Thu Nov 19 2009 17:18:00

As the Obama administration considers how to approach the next phase of the $700 billion financial bailout, questions are being raised on Capitol Hill about whether it is helping the economy.

CNNMoney: How Fed let AIG banks off easyupdated: Mon Nov 16 2009 19:18:00

Federal regulators, in rushing to rescue AIG last year, failed to use their clout to negotiate concessions from business partners of the troubled insurer, a bailout overseer said on Monday.

Fortune: Washington's inconvenient economic truthsupdated: Mon Nov 02 2009 10:35:00

Now that we're officially (if barely) out of the Great Recession, it's time for our nation's elected officials to get down to serious business -- that of taking credit, assigning blame, and calling each other liars.

CNNMoney: Executive pay crackdown is a jokeupdated: Thu Oct 29 2009 08:22:00

What do you know? The suits at troubled finance firm GMAC must like working for less money. How else to explain that GMAC is reportedly trying to get a third helping of government rescue funds? GMAC is one of the seven firms that the Obama administration announced sweeping changes in executive compensation for last week.

Fortune: GMAC grabs for another lifelineupdated: Wed Oct 28 2009 13:47:00

Will the third bailout be the charm for GMAC?

CNNMoney: Geithner: More TARP paybacks comingupdated: Tue Oct 27 2009 21:06:00

Treasury Secretary Timothy Geithner said Tuesday he expects a wave of banks to return government bailout money to taxpayers soon.

CNNMoney: Bailout's hidden costsupdated: Wed Oct 21 2009 03:45:00

The $700 billion bailout will ultimately cost taxpayers billions of dollars, but the government stands to lose much more than the money it's pouring into companies.

CNNMoney: Bailout cop: Treasury set 'unrealistic expectations'updated: Mon Oct 05 2009 10:09:00

A government watchdog says federal officials weren't entirely honest with the public about the health of the first 9 financial firms that got federal bailouts, according to a report released Monday.

CNNMoney: Bailout tracker: What's going, what's comingupdated: Mon Sep 14 2009 09:49:00

As government regulators switch from crisis-mode to rescue mode, many of the biggest and most successful bailout programs are well on their way to extinction. But there are plenty of others that are gaining momentum as the economy heads toward a recovery.

CNNMoney: Hooray for banks that refused bailouts!updated: Fri Sep 11 2009 21:12:00

It's nearly one year after the big crash, and the financial system is still functioning.

CNNMoney: Why some small banks still love TARPupdated: Fri Sep 11 2009 16:11:00

When it comes to TARP, it's better late than never for some banks.

CNNMoney: How banks really used TARP moneyupdated: Thu Aug 20 2009 16:33:00

If you're looking for the most detailed look yet about how banks have used funds from the $700 billion bailout, you're in luck.

Fortune: Bad banks -- They're baaack!updated: Tue Aug 18 2009 13:28:00

Facing mounting bank failures, regulators are putting a new twist on a familiar idea: splitting a bank's good assets from the bad ones.

CNNMoney: Toxic assets still festeringupdated: Tue Aug 11 2009 03:42:00

The economy may show signs of life, but so-called toxic assets are still a major threat to any recovery, a bailout watchdog group warned on Tuesday.

CNNMoney: No end in sight for bank bailoutsupdated: Sat Aug 08 2009 09:19:00

After rescuing the nation's banking system from utter disaster last fall, Washington now faces an arguably much trickier task: putting the bailout genie back in the bottle.

CNNMoney: The messy issue of 'too big to fail'updated: Fri Jul 31 2009 15:55:00

Lawmakers are quickly learning that "too big to fail" may be too complex to legislate away.

CNNMoney: Bailout risk: $23.7 trillion? More like $3 trillionupdated: Tue Jul 28 2009 11:16:00

The independent overseer of the $700 billion bailout has caused a ruckus over an important question: How much do taxpayers have on the line?

CNNMoney: TARP cop wants bank accountabilityupdated: Mon Jul 27 2009 13:49:00

The oversight czar tracking the $700 billion bailout told lawmakers Tuesday that he's concerned officials are not doing enough to prevent tax dollars from being wasted or pilfered.

CNNMoney: Fannie & Freddie: The most expensive bailoutupdated: Mon Jul 27 2009 13:48:00

The first big government bailout of the financial crisis -- the takeover of mortgage finance giants Fannie Mae and Freddie Mac -- is poised to be the most expensive and complicated to complete.

CNNMoney: Bailout: What's really at stake for taxpayersupdated: Tue Jul 21 2009 13:21:00

The independent overseer of the $700 billion bailout has caused a ruckus over an important question: How much do taxpayers have on the line?

CNNMoney: TARP cop: Get tough on banksupdated: Mon Jul 20 2009 18:07:00

The top cop tracking the $700 billion bailout program said Monday that he's concerned federal officials are ignoring his proposals for preventing tax dollars from being wasted or pilfered.

CNNMoney: Paulson stands by BofA-Merrill dealupdated: Thu Jul 16 2009 13:09:00

Former Treasury Secretary Henry Paulson, testifying before Congress for the first time since leaving office, defended his role Thursday in salvaging a controversial deal struck during the height of the banking panic last fall.

CNNMoney: BofA-Merrill tale: Paulson's turnupdated: Thu Jul 16 2009 10:18:00

Did government officials overstep their authority and force Bank of America to take over troubled Merrill Lynch at great taxpayer expense?

Commentary: What Wall Street owes youupdated: Wed Jul 15 2009 11:53:00

Goldman Sachs Group Inc. announced record earnings Tuesday of $3.44 billion for the second quarter of 2009.

CNNMoney: 9 firms to run toxic assets programupdated: Wed Jul 08 2009 19:04:00

The government on Wednesday tapped nine financial firms to manage a scaled-down program aimed at helping the nation's banks and said it would invest up to $30 billion to get it started.

CNNMoney: Bailout watchdog: Who's the boss?updated: Mon Jun 22 2009 17:41:00

The watchdog charged with investigating fraud in the government bailout programs is feuding with the Treasury Department about who he answers to.

Fortune: How the bailout bashed the banksupdated: Mon Jun 22 2009 06:04:00

Washington's most dramatic foray into the nation's financial sector since the Great Depression began on Oct. 13 with a misnamed acronym, an unwitting tribe of CEOs, and a confused staff of Treasury officials. It was a foreshadowing of the misadventure to come. "I don't even know who the 9 companies are. Do you?" Michele Davis, assistant secretary for public affairs, wrote in an e-mail sent at 7:15 a.m. on that history-making Monday. "No clue," Treasury chief of staff Jim Wilkinson responded. "Let me get the list."

CNNMoney: Ten banks allowed to pay back TARPupdated: Tue Jun 09 2009 16:20:00

Ten leading banks won approval to repay money from the government's controversial TARP program, regulators said Tuesday, which could represent approximately $68 billion in bailout funds returned to taxpayers.

CNNMoney: TARP: End of an errorupdated: Tue Jun 09 2009 15:25:00

Good riddance, TARP. It was nice knowing you.

Fortune: TARP payback may not help consumersupdated: Tue Jun 09 2009 15:06:00

Don't expect TARP-free banks to unleash a torrent of loans to cash-strapped consumers.

CNNMoney: Watchdog wants stress test do-overupdated: Tue Jun 09 2009 06:48:00

Banks that were stress tested by the government earlier this year should undergo another round of examinations, a government watchdog group said Tuesday, amid signs that the U.S. economy may be deteriorating faster than first expected.

Fortune: FDIC shelves toxic loan planupdated: Wed Jun 03 2009 17:18:00

Regulators shelved a controversial plan that aimed to cleanse banks' balance sheets of toxic assets.

CNNMoney: Jamie Dimon's fighting wordsupdated: Wed Jun 03 2009 11:33:00

Jamie Dimon isn't one to pull his punches. In fact, the JPMorgan chief's willingness to criticize, for example, the shortcomings of retroactively changing government bailout programs can be refreshing -- and often spot-on.

CNNMoney: There goes another $30 billionupdated: Mon Jun 01 2009 12:56:00

With another $30 billion in taxpayer bailout money set to go to General Motors -- for a total of $50 billion -- the bankrupt automaker will become the second-largest bailout recipient after AIG.

CNNMoney: Problem bank list tops 300updated: Wed May 27 2009 11:57:00

The government's list of troubled banks swelled in the first quarter, climbing to its highest level in nearly 15 years, regulators said Wednesday.

CNNMoney: Recycling bailout money: Is it right?updated: Fri May 22 2009 09:42:00

Some lawmakers are questioning whether the Treasury Department has the power to recycle returned bailout dollars to fund new or expanded rescues for auto companies, life insurers and small banks.

CNNMoney: Stress-tested banks seeking $56Bupdated: Wed May 20 2009 11:57:00

Banks that underwent stress tests earlier this month have set out raise $56 billion to plug holes in their books caused by big losses, Treasury Secretary Tim Geithner told a Senate panel on Wednesday.

6 life insurers qualify for bailout moneyupdated: Fri May 15 2009 03:39:00

Six life insurance companies have qualified to receive billions of dollars in bailout money under the government's Troubled Asset Relief Program, according to the U.S. Treasury Department.

CNNMoney: Can big banks escape the TARP?updated: Tue May 12 2009 17:39:00

With the stress tests behind them, banking regulators now face the potentially thornier issue of deciding which banks, if any, should be allowed to repay government funds.

Fortune: Banks drop FDIC crutchupdated: Tue May 12 2009 15:18:00

Banks lining up to repay bailout funds are easing away from the Federal Deposit Insurance Corp.'s debt insurance plan, a program that helped banks through last fall's financial storm -- and has made money for the FDIC to boot.

CNNMoney: Citigroup puts more TARP $ to workupdated: Tue May 12 2009 09:43:00

Citigroup said Tuesday it authorized $8.2 billion in lending to U.S. consumers and businesses so far this year backed by taxpayer funding.

CNNMoney: Stress tests: Banks need $75 billionupdated: Fri May 08 2009 07:47:00

Ten of the nation's 19 largest banks will need to raise a total of $74.6 billion in capital, federal officials announced Thursday, bringing an end to relentless speculation about how much more money the nation's leading banks would need to withstand the recession.

Fortune: Banks' new stress relieverupdated: Thu May 07 2009 19:08:00

Don't like your stress test results? The government may have just the tonic: the public-private investment partnerships that aim to relieve lenders of troubled assets.

CNNMoney: FDIC's Bair: No bank is too big to failupdated: Mon Apr 27 2009 15:59:00

Federal Deposit Insurance Corp. chief Sheila Bair reiterated calls for creating a system that would allow regulators to dismantle a large financial institution.

CNNMoney: Bailout cop: More disclosure nowupdated: Thu Apr 23 2009 13:43:00

The Treasury Department must make public more information about how banks and other companies are spending money received under the $700 billion bailout, a program overseer told Congress on Thursday.

Fortune: 'TARP babies' struggle to pay back governmentupdated: Wed Apr 22 2009 14:50:00

Bankers itching to put TARP in the rearview mirror are finding it hard to make a quick getaway.

CNNMoney: Bailout cop busy on the beatupdated: Tue Apr 21 2009 12:29:00

The top cop tracking the government's $700 billion bailout program said Tuesday that he has opened 20 criminal investigations and six audits into whether tax dollars are being pilfered or wasted.

Fortune: Riders on the stormupdated: Mon Apr 20 2009 11:40:00

Dick Kovacevich ought to be happy. The sun is shining in San Francisco on an early April morning, shares of Wells Fargo, where Kovacevich is chairman of the board, have almost doubled in a month, and Wells appears to have survived the worst of the banking crisis with its reputation intact (so far).

CNNMoney: Stress this: Some banks are weakupdated: Wed Apr 15 2009 17:47:00

It looks like Washington is finally giving up on the silly idea that all banks are in the same boat. It's about time.

CNNMoney: Pssst - wanna buy a toxic asset?updated: Wed Apr 15 2009 16:21:00

Consumers take heed: You too might be able to buy a piece of a government subsidized toxic bank asset. Whether you should is another question.

CNNMoney: Next in line for bailout? Life insurersupdated: Wed Apr 08 2009 11:11:00

The Treasury Department is poised to open its $700 billion bailout program to life insurers, officials said Wednesday.

CNNMoney: House tries to limit executive payupdated: Wed Apr 01 2009 22:02:00

The House of Representatives voted Wednesday to give the Treasury Department the power to ban future "unreasonable and excessive" compensation at companies receiving federal bailout money.

Congressman defends bonus billupdated: Wed Apr 01 2009 21:53:00

Rep. Barney Frank spars with CNN's Lou Dobbs over a bill that gives the government the power to limit executive bonuses.

House passes bill to limit executive compensationupdated: Wed Apr 01 2009 21:53:00

The House of Representatives voted Wednesday to give the Treasury Department the power to ban future "unreasonable and excessive" compensation at companies receiving federal bailout money.

CNNMoney: Counting to $700 billionupdated: Wed Apr 01 2009 18:21:00

The mystery is solved: The Treasury Department has clarified its accounting of the $700 billion allocated for the financial-sector bailout, known as the Troubled Asset Relief Program, or TARP.

We recommend