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Archive for ‘June, 2009’

10 large US banks to repay $68B in TARP funds

10 large US banks to repay $68B in TARP funds

By Daniel Wagner, AP Business Writer
10 large US banks to repay $68 billion in bailout funds; stock warrants still an issue
WASHINGTON (AP) — A key government effort to ease the credit crisis reached a milestone Wednesday as 10 large banks said they had repaid a total of $68 billion in bailout funds.
Treasury said last week [...]

Is Obama’s foreclosure rescue plan working?

Is Obama’s foreclosure rescue plan working?

By Tami Luhby, CNNMoney.com senior writer
Homeowners in trouble are having mixed results applying for President Obama’s foreclosure prevention plan. CNNMoney.com readers tell us their tribulations and triumphs trying to get their loans modified or refinanced.
Richmond could afford his $1,600 monthly mortgage payment when he was making $63,000 as an accountant for Bank of America. But [...]

Chrysler set to reopen most plants

Chrysler set to reopen most plants

By Chris Isidore, CNNMoney.com senior writer
Production at 7 of 11 assembly lines will restart later this month, sending most employees back to work for the first time since Chrysler filed for bankruptcy.
NEW YORK (CNNMoney.com) — Chrysler announced plans to reopen 7 of its 11 assembly lines later this month for the first time since [...]

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