Citigroup Inc. could easily repay a $20 billion preferred investment by the government, but the bank must show it can raise new capital from private investors first, Chief Executive Vikram Pandit said Wednesday.
Politicians, pundits and even the Federal Reserve chairman have declared the recession over, but what's coming next is likely to prove as vexing as the deep economic crisis that Americans hope to leave behind.
When Nimo Farah came to Minnesota at age 9, she didn't know to step on the foot bar to get water from the lavatory sink at her school, or to store textbooks in a locker rather than carrying them all home every day. Now 24, she's so skilled at navigating life here that she guides other immigrants through the confusing maze of real estate finance.
A year after the collapse of Lehman Brothers ushered in the worst economic crisis since the Great Depression, President Barack Obama said Monday that although the nation was "beginning to return to normalcy," Congress still must pass new regulations on the financial industry to avoid a repeat.
September 14, marks a year to the day since the U.S. financial system crashed, but today Wall Street is poised to stretch gains from last week as investors bet that the economic recovery is gaining strength and company outlooks are turning better by the day.