A senior House Democrat says the government didn't force Bank of America to take over Merrill Lynch, but a bank board member said much pressure was applied and Republicans charged that a committee inquiry was covering up the role of an Obama administration official.
In a positive sign that General Motors Co.'s restructuring is off to a good start, the company Monday said it would begin repaying U.S. government loans later this year, ahead of what is required, and that it generated $3.3 billion in cash during the third quarter after emerging from bankruptcy.
Leaders of a congressional commission investigating the causes of the recent financial crisis are threatening to publicly identify any company or government agency that stalls in voluntarily producing requested documents.
General Motors Co. will begin paying back $6.7 billion in U.S. government loans by the end of 2009 and could pay off that full amount as early as 2010, five years ahead of schedule, CEO Fritz Henderson said Monday.
You may have seen the brightly colored Kiva billboard on California's Highway 101, urging motorists to "Make a micro loan today. Forever change a life." Maybe you've heard Oprah Winfrey or Bill Clinton talking about the online microfinance operation started by a Silicon Valley couple.