Bailout Outrage

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Citigroup's Pandit Awarded $10.8 Million In 2008

Reuters | Posted 04.16.2009 | Business

Read More: Pandit Compensation, Vikram Pandit, Vikram Pandit Compensation, Citi CEO, Citi Pandit, Pandit Awarded, Bailout Outrage, Business News

Citigroup Inc (C.N) awarded Chief Executive Vikram Pandit $10.8 million of compensation in 2008, a year in which the bank required two government resc...

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The Guillotine Hasn't Arrived Here Yet

Vicky Ward | Posted 04.16.2009 | Business

Read More: Ponzi Scheme, Bernard Madoff, Society, Fairfield Greenwich Advisors, Ken Lewis, War on the Rich, Paul Greenwood, Robespierre, Bailout Outrage, Business News

The war on the rich is spreading fast. People with money are being scrutinized in a way they never used to be.

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AIG: $90 Billion Bailout Funds Went To Foreign, Domestic Banks, Including Some Bailout Recipients

AP | JENNIFER MALLOY ZONNAS | Posted 04.16.2009 | Business

Read More: AIG Bailout, Aig, American International Group, Aig Outrage, Aig $90 Billion, Aig Outrage Lawmakers, Aig Bailout Funds, Edward Liddy, Bailout Outrage, Business News

NEW YORK — American International Group Inc. used more than $90 billion in federal aid to pay out foreign and domestic banks, some of whom had r...

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Bank Of America: Ritz Carlton Hotel, New Office Tower Construction Continues

New York Times | LOUISE STORY | Posted 04.13.2009 | Business

Read More: Ritz Carlton Bank of America, Bank of America Charlotte, Bank of America, Charlotte Bank of America, Bank of America Construction Charlotte, Bank of America Ritz Carlton, Bailout Outrage, Business News

"In today's news environment, where so much talk is about Merrill Lynch, people are forgetting about the strength of our business," Mr. McGee told The...

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Merrill Bonus Recipients May Be Named Within A Week

AP | DAVID B. CARUSO | Posted 04.13.2009 | Business

Read More: Merrill Lynch, Andrew Cuomo, Merrill Cuomo, Cuomo Merrill Lynch, Cuomo Merrill, Merrill Lynch Bonuses, Bailout Outrage, Business News

NEW YORK — A judge said Friday he will decide within a week whether Bank of America Corp. has to turn over a list of performance bonuses given t...

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Keep Blowing The Whistle: Tell HuffPost About Bailed Out Firms Wasting Money

HuffingtonPost.com | Arthur Delaney | Posted 04.12.2009 | Business

Read More: Morgan Stanley, Tarp, Bailout, Whistleblower, Waste, Wall Street, Citigroup, Bailout Outrage, Business News

On Feb. 4, we asked HuffPost readers to send us tips if they knew of wasteful spending by banks that had benefited from taxpayer funds through the TAR...

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Cuomo Accuses Merrill Of "Misleading" Congress On Timing Of Bonuses

Huffington Post/AP | Marcus Baram | Posted 04.11.2009 | Business

Read More: Merrill Lynch Misleading, Merrill Lynch Bonuses, Merrill Lynch, Merrill Lynch Bank of America, Cuomo Merrill Lynch, Bailout Outrage, Business News

SCROLL DOWN FOR THE COURT FILING New York Attorney General Andrew Cuomo, in a court filing, accused Merrill Lynch of "misleading" Congress about the ...

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Freddie Mac Seeks $30.8B More In Aid After Loss

AP | ALAN ZIBEL | Posted 04.11.2009 | Business

Read More: Freddie Mac Aid, Freddie Mac, Freddie Mac Bailout, Bailout, Bailout Outrage, Business News

WASHINGTON — Freddie Mac, facing mounting damage from the U.S. housing crisis, said Wednesday it will ask the government for nearly $31 billion ...

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Help Dig Up The Praise That Today's Bailout Bandits Once Received

Matthew Palevsky | Posted 04.11.2009 | Business

Read More: Mack, John Thain, Bailout Bandits, Madoff, Allen Stanford, Ken Lewis, Ezra Merkin, Fuld, Jacob Ezra Merkin, Bernie Madoff, Bob Rubin, John Mack, Pandit, Bailout Outrage, Business News

Over the past few months we've seen the media begin to cast a hairy eye on many of the financial characters it once dubbed as experts, creators of gre...

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Citigroup's History Of Overreaching, Then Being Rescued

Washington Post | Binyamin Appelbaum | Posted 04.11.2009 | Business

Read More: Vikram Pandit, Citi, Citigroup Government, Citi Bailout, Citigroup CEO, Citigroup Bailout, Bailout Citigroup, Citigroup, Bailout Outrage, Business News

When Citicorp and Travelers Group agreed on a historic merger in 1998, the heads of the two companies placed a courtesy call to inform the Treasury De...

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Gasparino On Cuomo: AG Is Zeroing In On Merrill Lynch's Thain

Huffington Post | Julie Satow | Posted 04.10.2009 | Business

Read More: Bailout Outrage, Business News

CNBC's Charles Gasparino said there is a new focus in the Merrill Lynch bonus investigation. New York Attorney General Andrew Cuomo is now looking a...

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Bernanke: Financial Regulatory Overhaul Needed

AP | JEANNINE AVERSA | Posted 04.10.2009 | Business

Read More: Us Banking System, Banking Regulation Changes, Financial Crisis and Banking, Banking Regulation, Ben Bernanke, Banking Overhaul, Bailout Outrage, Business News

WASHINGTON — The nation's financial rule book must be rewritten to prevent a repeat of the global economic crisis now gripping the United States...

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The Simple Arithmetic of the Mortgage Crisis Debunks Right Wing Media Narratives

David Fiderer | Posted 04.09.2009 | Business

Read More: Foreclosures, Darrell Issa, Subprime Mortgage Crisis, Barney Frank, Rick Santelli Rant, Mortgage Crisis, Paulson Bailout, Financial Crisis, Henry Paulson, This American Life, Republicans, Bailout Outrage, Business News

Many talking heads lack a command of the data, so much coverage of the financial crisis remains vague and anecdotal. For businessmen, the narrative is always framed by the numbers, the bottom line.

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Tim Geithner, CNBC, and the Second Coming of Known Unknowns

Arianna Huffington | Posted 04.09.2009 | Business

Read More: Erin Burnett, Jon Stewart, Cnbc, Jon Stewart Rick Santelli, Jon Stewart Cnbc, Paul Krugman, Timothy Geithner, Real Time With Bill Maher, Paul Krugman Economy, Simon Johnson, Erin Burnett Real Time With Bill Maher, Timothy Geithner Treasury Secretary, Economy, Nassim Nicholas Taleb, Bailout Outrage, Business News

AIG's CEO prefers not to say who has our money. Same with the Fed. Same with Bank of America's CEO who prefers to go to court instead of saying who got bonuses. It's time to call in all the knowable unknowns.

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Citi Said To Have Paid $13 Million To Brokers After Cancelling Corporate Trips, Perks

Huffington Post | Julie Satow | Posted 04.09.2009 | Business

Read More: Citigroup Brokers, Citigroup Primerica, Citigroup Bailout, Citibank, Citigroup Nationalization, Primerica Financial Services, Citigroup, Primerica, Bailout Outrage, Business News

According to Bloomberg, Citigroup paid 1,900 insurance brokers at its Primerica Financial Services unit a total of $5,000 each after it scrapped a tri...

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Cuomo, Frank To BofA's Lewis: You "Fuel Distrust And Cynicism"

AP | STEPHEN BERNARD and IEVA M. AUGSTUMS | Posted 04.09.2009 | Business

Read More: New York Attorney General Cuomo, Andrew Cuomo, Bofa Ken Lewis, Ken Lewis, Barney Frank, Cumo Frank, Frank Cuomo, Ken Lewis Letter, Cuomo and Frank Letter, Cuomo Frank Letter, Bofa, Barney Frank Letter, Bank of America, Cuomo and Bank of America, Bailout Outrage, Business News

UPDATE: See this update from CNBC's Charles Gasparino on Cuomo's investigation into Merrill's bonuses. NEW YORK -- New York Attorney General Andrew ...

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Why The Merrill Bonuses Are A Watershed Moment

US News | Rick Newman | Posted 04.06.2009 | Business

Read More: Merrill, Merrill Bonuses, Merrill Lynch, Bailout Outrage, Business News

In the midst of the Vietnam War, an Air Force major told war correspondent Peter Arnett that it was necessary to destroy the town of Ben Tre in order ...

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Govt: Bank Of America Threatened To Sue Employee Willing To Talk About Bonuses

ABC News | RICHARD ESPOSITO | Posted 04.06.2009 | Business

Read More: Bank of America Bonuses, Bank of America, Andrew Cuomo, New York Attorney General, Bailout Outrage, Business News

The battle for bonus figures in the New York State investigation into the merger of Merrill Lynch and Bank of America got even uglier today, with the ...

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Merrill Lynch Gave Top Earners $209 Million In 2008 (SLIDESHOW)

Huffington Post | Katharine Zaleski | Posted 04.04.2009 | Business

Read More: Merrill Lynch Bonuses, Andrea Orcel, Andrew Cuomo, John Thain, Slideshow, Bailout Bandits, David Sobotka, Peter Kraus, Merill Lynch, Bailout Outrage, Business News

UPDATE: Some of the top earners at Merrill Lynch who were given $209 million in 2008 were subpoenaed by New York State Attorney General Andrew Cuomo o...

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Looking for Bailout Love in All the Wrong Places

Don McNay | Posted 04.03.2009 | Business

Read More: Citigroup CEO, Wall Street Bailout, Hank Paulson, Wayne Rogers, Lobbyists, Credit Card Rates, Todd Thomson, Fox Business Network, Common Sense, Aig, Citigroup Rescue, Bailout, Insurance, Maria Bartiromo, Hank Greenberg, Mash, Kentucky, Lexington KY, Personal Finance, Credit Card Industry, New AIG Bailout, Bad People, Maurice "Hank" Greenberg, Auto Insurance, Cnbc, AIG Bailout, Don McNay, Credit Card Debt, Credit Cards, Insurance Companies, Insurance Industry, Robert Rubin, Debt Collectors, Citigroup Stock, Credit Card Interest Rates, Wall Street Crisis, Citigroup Bailout, Good People, American Insurance Group, Bad-Deals, Ron Shelp, Good-Deals, Citigroup, Bailout Outrage, Business News

Citigroup and AIG employ thousands of good people. But they have had rotten apples in leadership. They created a culture that is probably impossible to change or fix.

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BofA's Ken Lewis: TARP Funds "A Mistake"

Huffington Post | Julie Satow | Posted 04.02.2009 | Business

Read More: Ken Lewis TARP, Bank of America Ken Lewis, Bank of America, Ken Lewis, Kenneth Lewis, Bank of America TARP, TARP Bank of America, Bank Bailout, Tarp, Tarp Funds, Ken Lewis Bank of America, Ken Lewis Mistake, Ken Lewis Financial Times, Ken Lewis Tarp Mistake, Ken Lewis Tarp Funds a Mistake, Bailout Outrage, Business News

Bank of America's CEO Kenneth Lewis told the Financial Times the $20 billion in funds he requested in January was a "tactical mistake" that made the c...

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Freddie Mac CEO David Moffett To Resign

AP | ALAN ZIBEL | Posted 04.02.2009 | Business

Read More: Freddie Mac News, Fannie Mae Freddie Mac Bailout, Freddie Mac, David Moffett Resigns, Freddie Mac Bailout, David Moffett Freddie Mac, David Moffett, Moffet Freddie Mac, Freddie Mac David Moffet, Freddie Mac Ceo Will Resign, Bailout Outrage, Business News

WASHINGTON — The top executive of Freddie Mac is quitting after less than six months on the job as the company continues to hemorrhage from mort...

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Northern Trust Seeks To Repay Bailout Money After Flap Over Lavish Parties

AP | RUPA SHENOY | Posted 03.30.2009 | Business

Read More: Northern Trust Golf Tournament, Northern Trust, Northern Trust Bailout Money, Bank Bailout, Bailout Money, Northern Trust Bank, Northern Trust Golf, Northern Trust Must Pay Back, Bailout Outrage, Business News

CHICAGO — Responding to lawmakers who chastised the company for its lavish sponsorship of parties and concerts at a professional golf tournament...

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BofA CEO Lewis Flies In Private Jet, Refuses To Answer Questions

ABC | RICHARD ESPOSITO and JOANNA JENNINGS | Posted 03.30.2009 | Business

Read More: Ken Lewis Subpoena, John Thain Bank of America, Bank of America Cuomo, Ken Lewis, Bank of America Ken Lewis, Attorney General Andrew Cuomo, Lewis Deposition, Lewis Thain Bonuses, Bank of America, Bank of America Bonuses, Bank of America Bailout, Cuomo Lewis, Banking Ceo and Private Jets February, Bailout Outrage, Business News

In just one day, the president of Bank of America, Ken Lewis, managed to defy both President Barack Obama and New York Attorney General Andrew Cuomo. ...

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BofA CEO To Be Grilled Over Bonuses: Who Approved $3.6 Billion Payout?

ABC News | Posted 03.29.2009 | Business

Read More: Bank of America Bonus, Economy, Ken Lewis, Bank of America, Financial Crisis, BofA Bonuses, Bailout Outrage, Business News

Bank of America President Ken Lewis is set to be confronted by the lawyers for New York Attorney General Anthony Cuomo this afternoon over his stateme...

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