Jeb Hensarling

Sen. Judd Gregg, a would-be Republican in Barack Obama's Cabinet, to join deficit commission. A Republican senator whom Barack Obama once tried to make his secretary of commerce will be among the members of Congress to serve on the president's deficit commission.

Freddie Mac's losses keep mounting, but mortgage giant avoids requesting more taxpayer aid. Freddie Mac lost almost $26 billion last year, ominous news for taxpayers who are footing the bill to rescue the mortgage finance company and its sibling Fannie Mae.

Obama, GOP bicker over job creation plans; shows tough sledding toward bipartisan solutions. Republicans sparred with President Barack Obama in their Saturday media addresses over proposals to create jobs, further evidence of the difficulty of bipartisan solutions to the nation's pressing problems.

WASHINGTON (Reuters) - President Barack Obama on Saturday appealed to fellow Democrats and rival Republicans to back a plan to use $30 billion in bank bailout funds to help small businesses.

WASHINGTON (Reuters) - President Barack Obama on Saturday appealed to fellow Democrats and rival Republicans to back a plan to use $30 billion in bank bailout funds to help small businesses.

Obama, Republican lawmakers exchange barbs, ideas in rare face-to-face confrontation. In a remarkably sharp face-to-face confrontation, President Barack Obama chastised Republican lawmakers Friday for opposing him on taxes, health care and the economic stimulus, while they accused him in turn of brushing off their ideas and driving up the national debt.

FACT CHECK: Obama, Texas lawmaker clash over budget realities. An irked President Barack Obama on Friday invited fact-checkers to judge his budget claims against those of a Republican congressman who challenged his fiscal stewardship.

Obama, Republican lawmakers exchange barbs, ideas in rare face-to-face confrontation. In a remarkably sharp face-to-face confrontation, President Barack Obama chastised Republican lawmakers Friday for opposing him on taxes, health care and the economic stimulus, while they accused him in turn of brushing off their ideas and driving up the national debt.

In a remarkably sharp face-to-face confrontation, President Barack Obama chastised Republican lawmakers Friday for opposing him on taxes, health care and the economic stimulus, while they accused him in turn of brushing off their ideas and driving up the national debt.

BALTIMORE (Reuters) - President Barack Obama on Friday engaged in a rare face-to-face showdown with Republican critics and testily accused them of trying to block his policies while urging them to "join with me" in creating jobs.

BALTIMORE (Reuters) - President Barack Obama on Friday engaged in a rare face-to-face showdown with Republican critics and testily accused them of trying to block his policies while urging them to "join with me" in creating jobs.

Reaction to President Barack Obama's State of the Union address. Some reaction to President Barack Obama's State of the Union address on Wednesday:

Some reaction to President Barack Obama's State of the Union address on Wednesday:

Rep. Barney Frank calls for replacement of mortgage finance giants Fannie Mae, Freddie Mac. A top lawmaker on Capitol Hill is calling for the elimination of mortgage finance companies Fannie Mae and Freddie Mac and the establishment of a new system to provide money for U.S. home loans.

ALL BUSINESS: Fannie Mae, Freddie Mac executive pay high despite government control. As the nation's thoughts turned to eggnog and gift-giving on Christmas Eve, the news hit: "Fannie Mae, Freddie Mac executive compensation significantly reduced."

WASHINGTON - A sharply divided House yesterday passed the most dramatic overhaul of US financial regulations since the Great Depression, voting to establish a new borrower protection agency and give the government sweeping new powers to crack down on the types of Wall Street practices that caused last year's economic meltdown. The 223-to-202 approval was a crucial victory for President Obama, who has made rewriting financial rules a cornerstone of his domestic policy agenda. But the measure passed without a single Republican vote, and 27 Democrats joined the GOP in opposition, which could spell trouble next year when the Senate begins deliberating its version of the bill and Democratic leaders will probably need 60 votes to overcome a filibuster. Led by Massachusetts Representative Barney Frank, chairman of the House Financial Services Committee, the House has been working for months on the package of legislation, which is a direct response to the credit markets' collapse and the resul

WASHINGTON - A sharply divided House yesterday passed the most dramatic overhaul of US financial regulations since the Great Depression, voting to establish a new borrower protection agency and give the government sweeping new powers to crack down on the types of Wall Street practices that caused last year's economic meltdown. The 223-to-202 approval was a crucial victory for President Obama, who has made rewriting financial rules a cornerstone of his domestic policy agenda. But the measure passed without a single Republican vote, and 27 Democrats joined the GOP in opposition, which could spell trouble next year when the Senate begins deliberating its version of the bill and Democratic leaders will probably need 60 votes to overcome a filibuster. Led by Massachusetts Representative Barney Frank, chairman of the House Financial Services Committee, the House has been working for months on the package of legislation, which is a direct response to the credit markets' collapse and the resul

WASHINGTON (Reuters) - The U.S. economy is struggling against "headwinds" that mean the government must retain the ability to respond to unexpected crises, even as it starts to wind down emergency programs, Treasury Secretary Timothy Geithner said on Thursday.

Watchdog says bailouts helped unfreeze the financial crisis but problems remain. The government's $700 billion bailout of the financial system helped prevent an all-out panic last fall but hasn't met many of the targets Congress set out, a watchdog panel says.

WASHINGTON (Reuters) - The U.S. government's $700 billion bailout program helped stabilize the financial system, but has done little to boost lending or stave off millions of home foreclosures, a government watchdog group said on Wednesday.