Barack Obama, Tarp | featured news

Stocks retreated Friday for a third straight day on fresh concerns about President Barack Obama's proposed restrictions on banks....

The Obama administration, buoyed by a resurgent Wall Street, plans to cut the projected long-term cost of the Troubled Asset Relief Program by more than $200 billion, in a move that could smooth the way for the introduction of a new jobs program.

Obama is set to announce initiatives aimed at boosting credit to small businesses, including measures to make it easier for small banks to access TARP.

A majority of Republicans in the U.S. Senate on Friday called on the Obama administration to let the authority to tap a $700 billion financial bailout fund expire at the end of the year as scheduled.

A divided Senate has approved President-elect Barack Obama's request for $350 billion in unspent financial bailout funds.