Four big financial companies that received major government bailouts and are still partly government-owned rose sharply for a second straight day on Wednesday.
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Sector Snap: Financial bailout recipients rise (AP via Yahoo! Finance)
The head of the federal agency that regulates mortgage finance companies Fannie Mae and Freddie Mac is stepping down. The timing of James Lockhart’s departure from the Federal Housing Finance Agency is not yet certain and a successor hasn’t been named, according to an administration official who spoke on condition of anonymity Wednesday because the announcement was not yet formal.
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Housing agency chief Lockhart to step down (AP via Yahoo! Finance)
Herbert Allison, President Barack Obama’s nominee to oversee the $700 billion bank bailout program, won Senate confirmation Friday to the Treasury Department post.
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Allison confirmed to oversee bailout program (AP via Yahoo! Finance)
