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US default could be 'catastrophic': Treasury
US default could be 'catastrophic': Treasury

The US Treasury warned Thursday of a disastrous outcome if Congress's refusal to raise the country's borrowing ceiling forces it to default on obligations.

US default could be 'catastrophic': Treasury
US Treasury Secretary Jacob Lew. ©REUTERS/Beck Diefenbach
US bailout 5 years ago avoided catastrophe: Treasury

The US Treasury said Wednesday the government's massive response to the economic crisis five years ago paid off, avoiding a catastrophic breakdown of the financial system.

US bailout 5 years ago avoided catastrophe: Treasury
US Treasury Secretary Jacob Lew. ©REUTERS/Beck Diefenbach
US to hit debt ceiling in mid-October: Treasury

The US will hit its statutory debt ceiling in mid-October, raising the chance that the government will be forced to default on its debts.

US to hit debt ceiling in mid-October: Treasury
US Treasury implements measure to avoid new debt
US Treasury implements measure to avoid new debt

The US Treasury Friday stopped re-investing in a retirement fund, a major step in its efforts to avoid exceeding the debt ceiling.

US Treasury implements measure to avoid new debt
US Treasury chief not worried about market bubble
US Treasury chief not worried about market bubble

US Treasury Secretary Jacob Lew said Thursday that he was not worried about a potential financial bubble forming as Wall Street stocks racked up record highs.

US Treasury chief not worried about market bubble
Republicans reject 'ridiculous' Obama fiscal cliff proposal
Republicans reject 'ridiculous' Obama fiscal cliff proposal

Republicans rejected as "ridiculous" Thursday a White House plan to raise $1.6 trillion in new taxes over the next decade, as crunch talks on the US deficit took a turn for the worse.

Republicans reject 'ridiculous' Obama fiscal cliff proposal
Photo courtesy of ink-bonn.de
US not ready for Basel III bank rules: Treasury

The US Treasury announced Friday that it would not implement the Basel III rules for strengthening banks on January 1, saying the banks were not yet ready to meet the tougher capital standards.

US not ready for Basel III bank rules: Treasury
World economy needs action from China, EU: Geithner
World economy needs action from China, EU: Geithner

US Treasury Secretary Timothy Geithner said Saturday the global economy was on the mend, but more needed to be done to stoke domestic demand in China and fix Europe's fiscal woes.

World economy needs action from China, EU: Geithner
Photo courtesy of darkgovernment.com
US Treasury to sell $18 bn of AIG stock

The US Treasury Department announced Sunday that it has launched a public offering of $18 billion of its common stock in AIG, the giant insurer bailed out by the US government.

US Treasury to sell $18 bn of AIG stock

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