After struggling for months to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in an attempt to restructure its debt while trying to keep badly needed loans flowing to thousands of midsized and small businesses. ...more

November 1, 2009

Citigroup Inc. said Friday it reached a deal that will give the government an increased stake in the struggling bank. ...more

February 27, 2009

The federal rescue of the nation's financial industry has perplexed the average taxpayer, who cannot find out how the money has been spent or see how it's helping anyone in the neighborhood. ...more

January 20, 2009

PNC Financial Services Group said Friday that it is acquiring National City Corp. for $5.58 billion in one of the first concrete signs of how banks could use fresh investments from a government bailout program. ...more

October 25, 2008

Goldman Sachs Group, seeking to improve not only its balance sheet but its standing with investors, has undertaken a huge capital-raising program that includes an investment of at least $5 billion from Warren Buffett and a common stock offering for another $5 billion. ...more

September 25, 2008

The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac. ...more

September 8, 2008

The Bush administration, acting to avert the potential for major financial turmoil, says the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac. ...more

September 7, 2008

Freddie Mac talked to investors this week about possibly buying its stock to raise much-needed capital but billionaire investor Warren Buffett said he passed on an opportunity to help the troubled mortgage giant. ...more

August 23, 2008

A government rescue of Fannie Mae and Freddie Mac could be costly for scores of investment, banking and insurance companies that hold billions of dollars in preferred shares in the mortgage finance giants. ...more

August 22, 2008

Whether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality. ...more

August 20, 2008