Search results for

President-elect Barack Obama says bold action is needed to "jolt" the economy and save millions of jobs. He's urging Congress to pass a major job-creating stimulus bill. He also named key leaders of his economic team Monday.

President-elect Barack Obama is expected to choose former congressman Leon Panetta to head the CIA. Panetta has relatively little experience in national security matters, although he did participate in daily intelligence briefings with President Bill Clinton when he served as Clinton's chief of staff between 1994 and 1997.

Treasury Secretary-designate Timothy Geithner has said he failed to pay $34,000 in taxes from 2001 to 2004. According to materials released by the Senate Finance Committee, a housekeeper whom Geithner paid in 2004 and 2005 did not have current employment documentation as an immigrant for the final three months she worked for him.

The Bush administration and the Federal Reserve have unveiled a stepped up plan to fight the ongoing financial crisis. The Fed is committing as much as $600 billion to shore-up Fannie Mae and Freddie Mac. The Fed and Treasury are also moving to get the economy going again by putting up to $200 billion to work in secondary markets for consumer lending.

President-elect Obama held his third news conference in as many days and announced the formation of a White House panel aimed at creating jobs. Obama picked former Fed Chairman Paul Volcker to head the panel.

While many people lost money with disgraced investor Bernard Madoff, some actually made money. Will they have to give any of it back, as defrauded investors line up to sue?

Congress and the White House are working toward a $15 billion short-term agreement to bail out the auto industry. Senate Majority Leader Harry Reid says Congress could act on an auto bailout as early as the end of the day.

The Detroit auto companies made another pitch to the Senate Banking Committee for massive loans to keep operating. They were more contrite than last month and offered a lot more details. But it is still unclear whether they will get the $34 billion they say they need to keep going. The auto executives will appear before the House Financial Services Committee Friday.

The CEOs of the Big Three automakers are back on Capitol Hill, this time facing skeptics on the House Financial Services Committee. Lawmakers are reaching for solutions as they assert they cannot let the car companies fail, while insisting they aren't writing any blank checks.

The NPR Board of Directors has announced that Vivian Schiller will be the new president and CEO. Schiller is vice president and general manager of NYT.com.