Banks urged to loan FDIC bailout funds amid fund strain
Regulators have approached large banks about borrowing billions to shore up the FDIC deposit insurance fund as bank failures rise. A mix of options including a special emergency fee or tapping a $100 billion Treasury line is discussed, though officials caution a formal plan is not settled.
MENTIONED IN THIS ARTICLE
Washington, D.C
Federal Deposit Insurance Corp
U.S. Treasury
FDIC
Andrew Gray
Sheila Bair
Treasury
Comptroller
John Dugan
Daniel Alpert
Westwood Capital LLC
New York
Bair
Alpert
American Bankers Association
Ed Yingling
New York Times
Wells Fargo to replace chair as Kovacevich exits
Wells Fargo announces Dick Kovacevich will step down as chair by year end 2009 after 23 years with the bank. CEO John Stumpf, 56, will become chairman January 1 2010 and has 27 years with Wells Fargo. Shares rose to 29.36 amid the news.
MENTIONED IN THIS ARTICLE
Wells Fargo
San Francisco
Wells Fargo & Co
Dick Kovacevich
John Stumpf
Kovacevich
Wachovia
Stumpf
Stock Exchange Highlights Tuesday Market In Review
Stock markets closed higher as investors weighed economic data and corporate results. Key indices rose with gains led by major banks and tech firms, while energy shares lagged on fluctuating oil prices.
CFTC chief pushes broader oversight of derivatives market
CFTC Chairman Gary Gensler urged Congress to expand a proposed overhaul of the $600 trillion derivatives market. He called for closing exemptions on foreign currency swaps and backing tighter rules, including capital reserves and clearinghouse transparency for risks in credit default swaps.
MENTIONED IN THIS ARTICLE
Washington
D.C
Congress
Obama
House Agriculture and Financial Services Committees
Commodity Futures Trading Commission
Gary Gensler
FDA bans flavored cigarettes take effect nationwide
The new federal rule prohibits manufacturing importing marketing and distributing candy fruit and clove flavored cigarettes while menthol and other products like cigars are not included. FDA officials cite research showing teens use flavored cigarettes and say the ban could deter thousands of new young smokers daily.
MENTIONED IN THIS ARTICLE
Richmond
Food and Drug Administration
FDA
Lawrence R. Deyton
Center For Tobacco Products
Deyton
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By Daniel Wagner
Associated Press
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Aiken, S.C
Aikenstandard
Stock Exchange
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Minpdia
Adocanos
GkofAm
AintiGprs
Ambac
Fannie Mae
GenElec
FredMac
Daiy Dow Jones
Danattioh
Remar
Lee
Etrade
PwShs
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Paim Inc
NA Pail
Oksands G
Dell Inc
At&t Ing NY
BSD Med
Milingia UN
NY Wa
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VeriChip Sh
AintiGp
Mhi
Nash
Cavicon Spreadtum BP PLC
Transant
Bantam
Crosstex
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Nasd
CBS
CSK NY
Oracle
OTE NY
PwShs Qqonash
ProcGam NY
NY Do
SouthFael Nasd
Sears Hidgs
SouthCo NY
Ekodak NY
Spor Faell NY
FannieMae NY
Synons NY
Viacom
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Whietpl NY
Dow Jones
PIMCO
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Vanguard
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Frank Temp-Franklin Income Am CA
Vanguard Wein
Fidelity GrowCo
Europe
Cnn
CFTC
By Christopher Rugaber
By Michael Felberbaum
Donia Patterson
York Street
Lnside Farnell Clinic
Reet Kat Perry
Richland Avenue - Aiken
Securityfederalbank.com
Dunagan
Whiskey Road
Pat Roberts
WKS
Prudential Woodside
Pat
Aikensc.com
Jason Redd Financial Services
Barnwell Avenue
Jredd
Jasonreddfinancialservices
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Matt
FINRA
SIPC
Jason An
Jason Redd
Finane Secnnee
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