When announcing it wanted to leave government oversight by repaying its $20 billion TARP bailout, Citigroup said it would raise the money by selling stock. However, because it sold $17 billion worth at $3.15/share—less than the $3.25/share the government paid for the stock last year—the U.S. Treasury is delaying the sale of its stake. more ›

'Tis the season for somewhat infuriating news: The Washington Post reports, "The federal government quietly agreed to forgo billions of dollars in potential tax payments from Citigroup as part of the deal announced this week to wean the company from the massive taxpayer bailout that helped it survive the financial crisis." more ›

After saying on 60 Minutes last night, "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street," President Obama met with many of those fat cats at the White House today. Obama wants bankers to support his administration's financial industry reforms. more ›

The government has approved 10 banks to repay TARP bailout funds, which would total about $68 billion. While the Treasury Department has not indicated which banks are included, the NY Times reports they are American Express, Bank of New York Mellon, the BB&T Corporation, Capital One Financial, JPMorgan Chase, the State Street Corporation, US Bancorp, Morgan Stanley, Northern Trust, and Goldman Sachs. Many of the banks passed the stress test (Northern Trust is a holding company and did not have to undergo the stress test. Bloomberg News notes this will "reduc[e]officials’ authority to intervene in everything from lending and hiring strategies to compensation policies." Treasury Secretary Timothy Geithner said, "These repayments are an encouraging sign of financial repair, but we still have work to do." more ›