iOS app Android app

Bank Bailout

Controversial Tax Break Would Be Eliminated In Stimulus Bill

McClatchy | Lisa Zagaroli | Posted 05.25.2011 | Business

A tax decision that made it a better deal for Wells Fargo & Co. to purchase Wachovia Corp. would be eliminated by the economic stimulus bill being con...

Obama Turns Gray (Davis)

Jeffrey Klein | Posted 05.25.2011 | Politics
Jeffrey Klein

By not punishing anyone -- excessive risk-takers, complicit bureaucrats, bait-and-switch bipartisans -- Obama looks weak.

Where's Ross Perot When You Need Him?

Kathleen Reardon | Posted 05.25.2011 | Politics
Kathleen Reardon

I'm ready for a little old fashioned Ross Perot specification of the expected outcomes of the stimulus package. This is what we call in education a "teachable moment."

A New Movement

Amy Ephron | Posted 05.25.2011 | Politics
Amy Ephron

There is a movement to strip billions of dollars from the stimulus bill led by Ben Nelson of Omaha (whose Democratic status is debatable) and Susan Collins (Republican) of Maine.

Sam Stein

BLOW THE WHISTLE: Bailed Out Firms Wasting Money? Tell Us About It | Sam Stein | Posted 05.25.2011 | Politics

Ever since the government decided to spend hundreds of billions of dollars propping up troubled banks, there have been reports of those banks and exec...

Ryan Grim

Top Dem Senator: "Hundreds Of Billions More" Needed For Bank Bailouts | Ryan Grim | Posted 05.25.2011 | Politics

Sen. Kent Conrad, chairman of the Budget Committee, warned Monday that the financial sector would need "hundreds of billions more" in federal dollars ...

Stiglitz Slams Federal Bad Bank Idea: "Cash For Trash"

Bloomberg | Simon Kennedy | Posted 05.25.2011 | Business

Nobel laureate Joseph Stiglitz said any decision by President Barack Obama to establish a so-called bad bank to rid financial companies of toxic asset...

Government Watchdog: TARP Still Lacks Transparency, Accountability

Wall Street Journal | MICHAEL R. CRITTENDEN | Posted 05.25.2011 | Business

The U.S. Treasury's financial-rescue plan remains an incomplete operation, plagued by backlogs and a lack of clear mission, a government watchdog said...

Ryan Grim

Rename Citi Field: Bipartisan Push In House | Ryan Grim | Posted 05.25.2011 | Politics

Two congressmen at opposite ends of the political spectrum have found something to agree on: Tear down that sign. In 2006, Citigroup entered into a $...

Obama Admin To Unveil Menu Of Bank Fixes Next Week

Reuters | Karey Wutkowski | Posted 05.25.2011 | Business

The Obama administration aims to roll out a menu of options next week to help stabilize the U.S. banking industry, with government aid tailored to ind...

Shameful Bankers: Time for a Revolution

Paul Jenkins | Posted 05.25.2011 | Business
Paul Jenkins

While there are many victims in the colossal Ponzi scheme that is the American economy, few of these victims have not in some way been complicit.

Bank Nationalization: What It Means For You

Wall Street Journal | JANE J. KIM and HEIDI MOORE | Posted 05.25.2011 | Business

Could your bank turn into the Bank of the U.S.A.? The latest wave of banking problems has investors worried that the government will nationalize de...

Back To Square One: Major Changes Coming To Bank Bailout As Financial Crisis Deepens

CNN | Tami Luhby | Posted 05.25.2011 | Business

It's back to square one. The deepening financial crisis, which is undermining the government's rescue efforts, is prompting federal officials to revi...

Madoff Blames Ponzi Scheme on Youth, Immaturity

Andy Borowitz | Posted 05.25.2011 | Business
Andy Borowitz

Madoff pleaded for understanding, explaining, "You do all kinds of crazy things when you're at an impressionable age like 60 or 61."

Bailout A Windfall To Bankers Reluctant To Loan

New York Times | MIKE MCINTIRE | Posted 05.25.2011 | Business

At the Palm Beach Ritz-Carlton last November, John C. Hope III, the chairman of Whitney National Bank in New Orleans, stood before a ballroom full of ...

Banks Have No Intention To Use Bailout Money To Make Loans

New York Times | Joe Nocera | Posted 05.25.2011 | Business

"Chase recently received $25 billion in federal funding. What effect will that have on the business side and will it change our strategic lending poli...

Why Are Congressional Democrats Giving in to Bush on the Auto Bailout?

Mitchell Bard | Posted 05.25.2011 | Politics
Mitchell Bard

You would think that winning the White House and overwhelming majorities in both houses of Congress would instill some backbone into Democrats on Capitol Hill. You would, of course, be wrong.

The End of Normal: Is Trust for Suckers?

Dr. Peggy Drexler | Posted 05.25.2011 | Politics
Dr. Peggy Drexler

Who is the more dangerous fraud -- the Nigerian bank spam and its comically brazen attempt to relieve me of $100,000, or the US bank whose ads ask for my business and my trust?

Surprise! This Bank Refuses Fed Bailout

Robert Reed | Posted 05.25.2011 | Chicago
Robert Reed

The way major financial institutions are feasting on taxpayer-backed bailouts, you'd think every bank in this country has on the feed bag. Not true. Just north of Chicago is a bank that doesn't want any part of the U.S. government's $700 billion bank bailout or any subsequent rescue plans.

Nearly 15% Of Illinois Banks Are Unprofitable

Chicago Tribune | Becky Yerak | Posted 05.25.2011 | Chicago

The percentage of unprofitable commercial banks in Illinois rose to 14.66 percent in the quarter ended Sept. 30, up from 8.18 percent in the year ago ...

A Turning Point: But Where Are Our Legislators?

Saskia Sassen | Posted 05.25.2011 | Politics
Saskia Sassen

The Fed has now committed to such a vast amount of debt in return for what are most probably dodgy securities, that is has become a source of national insecurity.

Krugman: Citigroup Bailout Necessary, But Structured Outrageously

Huffington Post | Nicholas Graham | Posted 05.25.2011 | Business

One economist who's not pleased with the way the bailout of Citigroup is structured is Nobel Prize winner, and Princeton economics professor, Paul Kru...

Running Rescue Totals, Sorted By Bank

ProPublica | Posted 05.25.2011 | Business

ProPublica has been keeping track of the numbers, in millions, of dollars doled out by the government to troubled banks. The list doesn't include all ...

The Great Recession

Larry Abrams | Posted 05.25.2011 | Business
Larry Abrams

We need an economic system of checks and balances where the public sector competes with the private sector and keeps it honest, and vice versa.

Bailout's Side Effect: Rising Mortgage Costs

Time | Stephen Gandel | Posted 05.25.2011 | Business

The government's effort to boost bank lending to end the credit crisis is hurting one of the areas critical to the nation's recovery: mortgage rates. ...