Washington, DC The Treasury Department and the Office of Management and Budget released the Fiscal Year 2008 Financial Report of the United States Government. The report details the U.S. government's current financial position, as well as its short-term and long-term…

With banks and the economy in the news so much lately, many people are thinking more about the safety of their money. The good news for consumers is that federal deposit insurance coverage has significantly increased, primarily as a result…

The FBI has identified a new technique used to conduct vishing attacks where hackers exploit a known security vulnerability in Asterisk software. Asterisk is free and widely used software developed to integrate Private Branch Exchange (PBX) systems with Voice over…

"3 Questions" is a new series from the MIT News Office that gives members of the community the opportunity to sound off on current events in their field of expertise. In this, the first installment, Michael Cusumano, the Sloan Management…

The Department of the Treasury, the Federal Deposit Insurance Corporation, and the Federal Reserve have recently put into place several programs designed to promote financial stability and to mitigate procyclical effects of the current market conditions. These programs make new…

The November 13 story in the Washington Post ("Bailout Lacks Oversight Despite Billions Pledged" - 11/13/2008) leaves out critical steps taken by Treasury to ensure that there is strong oversight in place as the Emergency Economic Stabilization Act is implemented.…

RICHMOND, Va. -- Circuit City Stores, Inc. (NYSE: CC) announced that it has filed a voluntary petition for reorganization relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of…

In October 2008, a total of 8,210 resale homes recorded as sold. Foreclosure activity represented 47 percent (3,745 transactions) and 4,465 traditional market transactions. Foreclosed transactions represent home owners losing their property to successful individual bidders or the lender of…

Home loan modifications may be the best way to help homeowners stay in their houses and to get the economy back on track. Thats the word from a top expert whos testifying in front of Congress Friday about the bailout…

The House of Representatives passed a bill that is essential to helping Americas economy weather the financial crisis. The Senate passed the same legislation. And when Congress sent me the final bill, I signed it into law. There were moments…

The Federal Trade Commission has charged a Florida couple with violating federal law by deceiving consumers into believing that their homes could be saved from foreclosure in return for a fee. At the Commissions request, a federal court halted the…

Recent Actions regarding Government Sponsored Entities, Investment Banks and other Financial Institutions Washington, DC--Chairman Dodd, Senator Shelby, members of the committee, thank you for the opportunity to appear before you today. I appreciate that this is a difficult period for…