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First, there was the threat of martial law if the $700 Billion Tarp bailout wasn’t passed. Specifically, Treasury Secretary Hank Paulson warned Congress that there would be martial law unless the Tarp bailouts were approved.
Dominant Social Theme: We are shocked that Ireland has not improved. But we know it will!
American International Group Inc. agreed to wind down its $182.3 billion bailout by converting the Treasury Department stake into common shares for sale, a step toward independence for the insurer whose near collapse two years ago threatened the glob
Regulators announced Friday a rescue and revamping of the nation's wholesale credit union system, underpinned by a federal guarantee valued at $30 billion or more.
The Treasury's $700 billion bailout fund officially expires in two weeks, but not for Neil Barofsky, the top cop for the Troubled Asset Relief Program. He's hiring new staff and opening four regional branch offices to pursue TARP-related fraud cas
Officials from the US Treasury Department are insisting tonight that absolutely no US taxpayer dollars will be put forward to bail out the increasingly unstable Kabul Bank, which has been struggling with a growing bank run over the past week.
The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said. Subsequent offerings of the government's holdings may be profitable
The former chief of Lehman Brothers told a panel investigating the financial crisis that the Wall Street firm could have been rescued, but regulators refused to help even though they later bailed out other big banks.
It wasn’t that long ago that General Motors underwent a US government-bankrolled bankruptcy that all but wiped out its existing shareholders. Now, thirteen months later, General Motors is filing for an initial public offering (IPO). The US and Can
Federal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy.
The 10 banks that received the most bailout aid during the financial crisis spent over $16 million on lobbying efforts in the first half of 2010, as the debate over financial regulatory reform reached its height. Disclosure reports show that the b
Banks will get the biggest benefit from an Obama administration housing program designed to help unemployed homeowners escape foreclosure. Housing experts expressed concern that banks, not homeowners, will be helped by the White House's $3 billion
Eager to rid his company of the stigma of being government owned, the chief executive of General Motors, Edward E. Whitacre Jr., said Thursday that G.M. wanted Washington to sell its entire stake during an initial public offering.
Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions. Goldman Sachs disclosed the list of companies to the Senate Finance Committee after a threat of subpoena
Tired of waiting for spending to rebound on its own, retailers are taking matters into their own hands. Wal-Mart's Sam’s Club is introducing a program in which it facilitates loans for shoppers of up to $25,000, backed by the Small Business Administ
MAYBE WALL STREET should open a casino right there on the corner of Broad, because these guys simply cannot lose. After kneecapping the global economy, costing millions their homes and livelihoods, and saddling our grandchildren with massive debt—aft
brownbailout — June 08, 2009 — Why does a company that brings in so much money need a bailout from Congress?
President Obama urged reluctant lawmakers to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid "massive layoffs of teachers, police and firefighters" and to support the still-fragi
That’s right, we called it. I wrote about it in an article you can see on here a couple of days ago. You can listen to it on my last radio show – the whole first hour. 100 million dollars to democrats from just 2 key unions to get their lapdog democr
Under attack for authoring the Republican strategy to link financial reform legislation to "permanent bailouts" for Wall Street, Frank Luntz claims his widely-publicized memo was merely "defending economic freedom."
During the national furor that erupted last year after American International Group paid more than $165 million in bonuses, the voices of those vilified for receiving the payments remained silent, at least in public. But behind closed doors, empl
If one is alert, it is evident that the Federal Reserve and the U.S. Treasury have disposed of the need for Congressional approval, and have engineered a de facto bailout of Fannie Mae and Freddie Mac, at public expense.
Watch this video about how the FDIC shovels your tax dollars into the pockets of well-connected bankers (as in former Goldman Sachs execs) to bail out failed banks. You might want to have a stiff drink before watching to keep your blood from boiling.
Treasury Secretary Timothy F. Geithner was sworn in on Wednesday ahead of testifying before the House Committee on Oversight and Government Reform about the collapse and bailout of the insurance company AIG.
A Republican senator said Tuesday that documents showing Federal Reserve Board Chairman Ben Bernake covered up the fact that his staff recommended he not bailout AIG are being kept from the public. And a House Republican charged that a whistleblower
The Federal Reserve Bank of New York may be compelled to hand over documents related to American International Group Inc.’s government bailout after the chairman of a House oversight committee said he will issue a subpoena.
“Who would want to buy a stock that’s still 80 percent owned by the government?” Who indeed?
WASHINGTON (AP) - Regulators on Friday shut down Colonial BancGroup Inc., a big lender in real estate development that marked the biggest U.S. bank failure this year, and a small bank in Pennsylvania.
The closures boosted to 74 the number of federally insured banks that have failed in 2009.
The Federal Deposit Insurance Corp. was appointed receiver of Montgomery, Ala.-based Colonial, with about $25 billion in assets, and Dwelling House Savings and Loan Association, located in Pittsburgh. The agency approved the sale of Colonial's $20 billion in deposits and about $22 billion of its assets to BB&T Corp., which is based in Winston-Salem, N.C. The failed bank's 346 branches in Alabama, Florida, Georgia, Nevada and Texas will reopen at the normal times starting on Saturday as offices of BB&T, the FDIC said.
In October last year, 9 banks received a grand total of $125 billion
in taxpayer money as part of the much publicized Troubled Asset Relief
Program (TARP). The aim of the payout being to aid in the banks'
survival as they tried to ride out the pressures of the economic crisis.
