This is MORNING EDITION from NPR News. Good morning. I'm David Greene. President Obama is preparing to send budget plan to Capital Hill this week and Treasury Secretary Jack Lew will be key in selling that plan to Congress.
Right now, Secretary Lew is on another mission: to sell European leaders on the idea of easing austerity to boost economic growth. We reached Secretary Lew in Berlin. Mr. Secretary, welcome back to the program.
The government-controlled mortgage giant Fannie Mae, which needed a $116 billion federal bailout after the housing bubble burst in 2007, said Tuesday that it earned a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year.
General Motors Co. said today that its Chief Executive Dan Akerson will not take a pay raise this year.
Documents filed with the House Committee On Oversight and Government Reform showed that GM was asking the U.S. government to OK a $2.1 million raise for Akerson. The government still owns part of GM and when the automaker took a $49.5 billion bailout, it agreed to have executive pay approved by government.