The AP reported that mortgage buyer Freddie Mac is seeking an additional $1.8 billion in federal aid. Freddie Mac reported that it lost $6 billion, or $1.85 per share in the April to June period. This includes the $1.3 billion in dividends paid to the Treasury Department. Freddie Mac and Fannie Mae received funding from [...]
To the list of economic woes squeezing small banks, add another one: government bailout loans. The Treasury Department’s bailout program was designed with Wall Street megabanks in mind, according to a new watchdog report. The “one-size-fits-all” program may actually be hurting small banks that are struggling to repay the money or even deliver quarterly dividend [...]
(Washington, DC) — Ben Franklin is about to get a facelift. The Treasury Department later today will unveil a new 100-dollar bill, in the first remake of the bill since 1996. The Bureau of Engraving and Printing calls the 100-dollar note the highest value denomination of U.S. currency in general circulation, and one that circulates [...]
In February, the number of homeowners with permanently reduced monthly payments grew to 168,708, the Obama administration reports, and 91,483 more trial modifications are approved.
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