Bailout Outrage

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BofA's Kenneth Lewis Calls $15.8B-Losing Merrill Lynch "A Thing Of Beauty"

Bloomberg News | Posted 03.28.2009 | Business

Read More: Lewis and Merrill Lynch, Merrill Lynch A "Thing of Beauty", Economy, Bank of America, Financial Crisis, Lewis A "Thing of Beauty", Bailout Outrage, Business News

Bank of America Corp. Chief Executive Officer Kenneth Lewis said Merrill Lynch & Co. and Countrywide Financial Corp., the acquisitions that some analy...

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Thain Tells All On Merrill Lynch Bonuses

ABC News | Posted 03.28.2009 | Business

Read More: Merrill Lynch, John Thain, Bailout Bandits, John Thain Subpoena, Thain Tells All, Thain Bonus, Thain Talks Bonuses, Financial Crisis, Bailout Outrage, Business News

John Thain, former CEO of Merrill Lynch, finally revealed the names of the executives who received multi-million dollar bonuses on the eve of his fail...

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Northern Trust Bank Threw Lavish Parties, Sponsored Golf Tournament After Getting Bailout Funds

AP | STEPHEN BERNARD | Posted 03.27.2009 | Business

Read More: Northern Trust Bank Golf Parties Bailout Money, Northern Trust Bank Parties, Northern Trust Golf Event, Bailout Bandits, Northern Trust Bank, Bailout Outrage, Business News

NEW YORK — Northern Trust Corp., a bank that received $1.6 billion in government funds, is facing scrutiny for hosting parties and other events ...

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Virginia Hammerness, Bank Of America Heiress, Blasts Bank Leaders As 'Idiots' (VIDEO)

CBS5 | Posted 03.26.2009 | Business

Read More: Virginia Hammerness, BofA Idiots, Bank of America Idiots, Bank of America, Bank of America Heiress, Bank of America Repulsive, BofA Repulsive, Bailout Outrage, Business News

SAN FRANCISCO (CBS 5) - The granddaughter of the man who founded Bank of America in San Francisco in the early 1900s called the bank's current conditi...

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Cuomo Files Documents To Get Thain To Give Up Bonus Details

AP | IEVA M. AUGSTUMS and STEPHEN BERNARD | Posted 03.26.2009 | Business

Read More: Merrill Lynch, John Thain, Andrew Cuomo Wall Street, John Thain Bonus, Ny Attorney General, Merrill Lynch Bail Out, Andrew Cuomo, Bailout Outrage, Business News

CHARLOTTE, N.C. — A New York judge cleared the way Monday for former Merrill Lynch & Co. CEO John Thain to testify about bonuses paid to Merrill...

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Things I Don't Get

James Moore | Posted 03.26.2009 | Business

Read More: Rick Santelli, Bank Nationalization, Housing Crisis, Rick Santelli Rant, Tarp, Nationalizing Banks, Economy, Economic Crisis, Obama Nationalization, Nationalization, Wall Street Crisis, Banks, Henry Paulson, Financial Crisis, Ben Bernanke, Banks Bailout, Bailout Outrage, Business News

Rick Santelli and others are guilty of extreme hypocrisy, the type that only raises its moral head when it serves a particular constituency.

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Citigroup Nationalization: Market Reacts To Talks Of 40% Gov Stake

AP | TIM PARADIS | Posted 03.26.2009 | Business

Read More: U.S. Economy, Citigroup Bailout, Economy, Citibank, Banking, Banking Crisis, Banks, Bank Bailout, Citigroup, Citigroup Nationalization, Citi Nationalization, Citigroup Stock, Bailout Outrage, Business News

NEW YORK — Wall Street has turned the clock back to 1997. Investors unable to extinguish their worries about a recession that has no end in sigh...

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Time Rewrote History With "25 People to Blame for the Financial Crisis"

David Fiderer | Posted 05.19.2009 | Business

Read More: Bill Clinton, Phil Gramm, Predatory Lending, Hank Paulson, Time Magazine, Cnbc, Subprime Mortgage Crisis, Aig, Banks, Financial Crisis, Global Financial Crisis, Angelo Mozilo, Alan Greenspan, George Bush Legacy, Citigroup, Time's 25 People to Blame, Bailout Outrage, Business News

Instead of pinpointing culpability among the key players, Time deflects blame away from Republicans and falsely implicates Democrats, to create a muddleheaded "plenty-of-blame-to-go-around" narrative.

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It's Time to Treat America's Homeowners as Well as We've Been Treating Wall Street's Bankers

Arianna Huffington | Posted 06.12.2009 | Business

Read More: Foreclosures, Bailout Outrage, Timothy Geithner Treasury Secretary, Obama Stimulus Plan, Obama Stimulus, Tim Geithner, Geithner Bailout, Homeowners, Bank Bailout, Geithner Bank Bailout, Home Foreclosures, Business News

"The banks are too big to fail" has been the mantra we've been hearing since September. But when you consider the millions of American homeowners facing foreclosure, aren't they also too big to fail?

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A Plan for Economic Recovery

George Soros | Posted 03.25.2009 | Business

Read More: Financial Crisis, Timothy Geithner, Economic Recovery, George Soros, Wall Street Crisis, Geithner Plan, George Soros Economic Crisis, Economic Crisis, Ukraine, Bailout Outrage, Business News

We are facing the prospect of global deflation and depression. But I believe the situation could be turned around by adopting a bold and comprehensive program. Unfortunately, Treasury Secretary Geithner has not presented a convincing case.

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Newsweek: Geithner Needs To Put Failing Banks Out Of Their Misery

Newsweek | Michael Hirsh | Posted 03.23.2009 | Business

Read More: Goldman Sachs, Bank of America, Banks, Morgan Stanley, Bank Bailout, Too Big to Fail Banks, Bailout Outrage, Business News

It was a classic populist spectacle, reminiscent of William Jennings Bryan's "Cross of Gold" speech or Huey Long's mid-Depression campaign to "Share t...

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Banks Racing To Pay Back Bailout Funds After Congressional Lashing

Bloomberg | Linda Shen and Bradley Keoun | Posted 03.23.2009 | Business

Read More: Lloyd Blankfein, Goldman Sachs, Bank of America, Morgan Stanley, Ken Lewis, Bank CEOs, Bankers, Jamie Dimon, John Mack, Jpmorgan, Bailout Outrage, Business News

Feb. 12 (Bloomberg) -- Bank of America Corp., JPMorgan Chase & Co. and Morgan Stanley may decide after enduring yesterday's Congressional hearing tha...

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Bankers vow to build trust with increased lending

AP | JIM KUHNHENN | Posted 03.23.2009 | Business

Read More: JP Morgan Chase, Citigroup Inc., Lloyd Blankfein, Bailout Bandits, Bailout Testimony, CEOs of Bank of America Corp., Bailout Banker Testimony, Citigroup CEO Vikram Pandit, Wall Street Banker Testimony, Bailout Outrage, Business News

WASHINGTON — The nation's top bankers came to account for themselves Wednesday to a wary public, displaying a blend of financial might and humil...

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Change FICO Credit Scoring to Stimulate Economy and Address Housing and Banking Crisis

Ronald B. Robinson | Posted 03.25.2009 | Business

Read More: Treasury Department, President Obama, Economic Crisis, Federal Reserve Board, Economy, Fico, Ponzi Scheme, Credit Crisis, Stimulus, Banking Industry, Mortgage Crisis, Politics, Wealth, Credit Card Industry, Tax Cuts, Credit Scores, Banks, Republicans, Bonuses, Comptroller of the Currency, Business, Financial Crisis, Bignews, Paulson, Housing, Reform, Foreclosure Crisis, Housing Crisis, Rescue Plan, Bailout, Bailout Outrage, Business News

Republicans are proposing a 4% home mortgage Ponzi scheme that's the modern day version of "40 acres and a mule." It's every bit the false promise that dashed the hopes of ex-slaves after the Civil War.

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Citibank Will Boost Lending By $36.5 Billion

AP | MADLEN READ | Posted 03.25.2009 | Business

Read More: Credit Availability, Lending Crisis, Credit Crunch, Credit Crisis, Lending Standards, Credit Markets Tight, Citibank Lending, Citibank, Bailout Outrage, Business News

NEW YORK — Citigroup, under pressure to increase its lending, says it will spend $36.5 billion to issue mortgages, make credit card loans and bu...

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Welcome to our ENRON-omy and the Year of the Probe

Robyn O'Brien | Posted 03.23.2009 | Business

Read More: Corruption, John Thain, Dow Jones, Rod Blagojevich, Blagojevich, Enron, Fda, Wall Street Journal, Peanut Butter, Peanut Butter Recall, Economy, Bailout Outrage, Business News

While we read about Blagojevich's hairbrush and the $1,400 trashcan purchased by Merrill Lynch's CEO, the Dow saw "its worst performance ever" posting its worst January in its 113 year history.

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"Bankers Behaving Badly": A Needed Remedy for a Financial Industry Gone Off The Rails

Raymond J. Learsy | Posted 03.25.2009 | Business

Read More: Private Planes, Wall Street. Citgroup. Lehman Brothers, Thain, Citi, Merrill Lynch, Citigroup, John Thain, John Thain Bank of America, Lehman Brothers, Merrill Lynch Thain, John Thain Bonus, Bailout Outrage, Business News

A company's public conduct and public image, like that of Citi and Lehman, should be a determinant of which companies get taxpayer monies. The days of Wall Street rules are at an end.

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Fannie Mae Wants $16 Billion More In Emergency Funds

bloomberg.com | Posted 03.25.2009 | Business

Read More: Fannie Mae Emergency Funds, Fannie Mae Wants $16 Billion, Fannie Mae to Seek $16 Billion, Fannie Mae, Housing Crisis, Bailout Outrage, Business News

Fannie Mae, the largest source of home-loan money in the U.S., said it will need to tap as much as $16 billion in emergency funds from the U.S. Treasu...

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Freddie Mac To Ask For Billions More In Bailout Funds

AP | Posted 03.25.2009 | Business

Read More: Freddie Mac, Bailout Funds, Freddie Mac Bailout, Freddie Mac Mortgages, Bailout, Freddie Mac Bailout Funds, Bailout Outrage, Business News

McLEAN, Va. — Mortgage finance company Freddie Mac said Friday it will need an additional $30 billion to $35 billion in government aid as it cop...

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No Time for Ideological Based Economic Solutions

Byron Williams | Posted 03.25.2009 | Business

Read More: Financial Crisis, Auto Bailout, Auto Industry, Economy, Bailout Outrage, Business News

Congress is using every economic tourniquet to stop the bleeding within the nations financial and automobile industries without fully knowing what other industries may be suffering from internal hemorrhaging.

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Fannie, Freddie Hearings: Looking For A Scapegoat

New York Post | Posted 03.25.2009 | Business

Read More: Subprime Mortgages, Freddie Mac Hearing, Freddie Mac, Fannie Mae, House Oversight and Government Reform Committee, Fannie Mae Hearing, Mortgage Crisis, Bailout Outrage, Business News

As finger-pointing escalated in Washington in the search for blame for the housing crisis, at least one ousted mortgage official in the cross hairs sa...

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Citigroup as the "Grim Reaper"

Raymond J. Learsy | Posted 03.26.2009 | Business

Read More: Citigroup, Bank of America, Federal Reserve, Wall Street Journal, Deutsche Bank, JPMorgan Chase, Cnbc, Charlie Gasparino, General Growth Properties, Financial Crisis, Wachovia, Tarp, FederalDeposit Insurance Copr, Goldmansachs, Ustreasury, Eurohypo, Bailout Outrage, Business News

In an earlier post, I ended by paraphrasing Lenin, "Wall Street will sell us the rope to hang American Capitalism." Well, in Citigroup we have created the perfect "Grim Reaper."

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Report: Fannie, Freddie Execs Were Warned Of Loan Problems Years Ago

Washington Post | Zachary A. Goldfarb | Posted 03.25.2009 | Business

Read More: Freddie Mac, Fannie Mae Warnings, Freddie Mac Loans, Fannie Mae Loans, Freddie Mac Bailout, Fannie Mae Bailout, Fannie Mae, Bailout Outrage, Freddie Mac Mortgage Crisis, Business News

Internal Freddie Mac documents show that senior executives at the company were warned years ago that they were offering mortgages that could pose dang...

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Fannie Mae, Freddie Mac Hearing: Testimony, Video

Huffington Post | Posted 03.25.2009 | Business

Read More: Freddie Mac Hearing, Freddie Mac, Freddier Mac Testimony, Fannie Mae Takeover, Freddie Mac Bailout Hearing, Fannie Mae Bailout Hearing, Fannie Mae, Fannie Mae Freddie Mac Bailout, Fannie Mae Hearing, Fannie Mae Testimony, Mortgage Crisis, Bailout Outrage, Business News

UPDATE 12/09 at 3:21PM: HuffPost's Marcus Baram reports: Former Fannie Mae CEO Franklin Raines blamed regulators and lawmakers for encouraging the m...

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