Bailouts | featured news

Mortgage finance giant Freddie Mac FMCC.OB said on Monday it would ask for an additional $1.5 billion from taxpayers due to losses stemming from the weak housing market.

American International Group, the insurer that sold off several major units in its effort to repay its 2008 bailout, plans to keep its once-troubled but now rapidly growing mortgage-insurance unit.

Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.

The Treasury Department said Thursday it has exited its investment in Chrysler LLC after Italian automaker Fiat SpA purchased the U.S. government's remaining holdings in the auto company.

Riot police fired tear gas at youths hurling rocks and petrol bombs near the Greek finance ministry Tuesday, trying to quell the anger unleashed during mass protests and a general strike as parliament debated new cost-cutting measures.

Egypt will not borrow from the World Bank and International Monetary Fund after revising its budget and cutting the forecast deficit, even though a loan had been agreed, Finance Minister Samir Radwan said Saturday.

Hours of talks between eurozone finance ministers on the imploding finances of Greece broke up early Monday morning without the ministers signing off on a vital installment of rescue loans needed to avoid bankruptcy next month.

Greek Prime Minister George Papandreou offered on Wednesday to step down and make way for a national unity government provided it supported EU/IMF bailout plans, government sources said.

Republican presidential candidate Mitt Romney defended himself Thursday against questions over why he opposed a federal bailout of General Motors and Chrysler two years ago.

Barely two years since it filed for bankruptcy, Chrysler still has to prove it can deliver on its “second chance.” The carmaker seems to be heading in the right direction.