Bailouts

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TARP Failures Keep Taxpayers On The Hook; 33 Companies Miss Payment

Posted 11.16.2009 | Business

Read More: Tarp, White House, TARP Money, Lending, Economy, Bailouts, Regulation, Obama, Taxpayers, Recession, Wall Street, Bailout, Fed, Treasury, Banks, Citigroup, Cit, Business News

According to The Washington Post, 33 companies that received a portion of TARP's $700 billion have not paid the federal government their most recent d...

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How to Live on $0 a Day: Assuaging Rage, One Prick at a Time

Lesley Stern | Posted 11.12.2009 | Comedy

Read More: George Bush, Citi, Insurance Companies, Justice, Hank Paulson, John Boehner, Real Housewives, Washington, Economy, Ben Bernake, Bailouts, Larry Summers, Psychology, Balloon Boy Dad, Humor, John Edward, Sarah Palin, Self-Help, Dick Cheney, Comedy, Bank of America, Goldman Sachs, Comcast, AT&T, Dr. Phil, Ken Lewis, Bill Kristol, Joe Jackson, Satire, Rupert Murdoch, Financial Crisis, Aetna, Jamie Dimond, Bernie Madoff, Rage, Lloyd Blankfein, Netanyahu, Depression, Chase, Mental Health, Rush Limbaugh, Carrie Prejean, Bin Laden, Recession, Advice, Jim Cramer, Vikram Pandit, Anger, Michele Bachmann, Wall Street, Tim Geithner, Glenn Beck, Joe Lieberman, Kim Zolciak, Shadegg, Ahmadinajad, Crooks and Liars, Disney, Comedy News

If you're quivering with rage just thinking about Wall Street, it's time to take action. I've discovered a way to achieve a semblance of inner peace without therapists, tranquilizers or weapons.

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Of Billionaires, Bailouts and Bonuses

Les Leopold | Posted 11.11.2009 | Business

Read More: JP Morgan Chase, Goldman Sachs, Financial Crisis, Morgan Stanley, Wall Street Crisis, Great Depression, Bailouts, Business News

Let's weigh the pros and cons of the record bonuses going to Goldman Sachs, JP Morgan Chase and Morgan Stanley (and many others) during the worst economic crash since 1929.

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Goldman Sachs CEO Lloyd Blankfein: "I'm Doing God's Work."

Times Online | John Arlidge | Posted 11.07.2009 | Business

Read More: Timothy Geithner, Goldman Sachs, Economy, Derivatives, Bailouts, Black Pools, Regulation, Credit Default Swaps, George Bush, Lloyd Blankfein, Policy, Goldman, London, Tim Geithner, Recession, Mortgage Crisis, Ben Bernanke, Henry Paulson, The City, Bailout, Barack Obama, Predatory Lending, Blankfein, Banks, Hank Paulson, Bonuses, Wall Street, Executive Pay, Business News

Goldman's reputation is suddenly as toxic as the credit default swaps and other inexplicably exotic financial instruments it used to buy with glee. Th...

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The House Financial Reform Bill: Don't Touch the Banks, Get a Smarter Fed

Dean Baker | Posted 11.03.2009 | Business

Read More: Banks, Bailouts, Financial Reform, Barney Frank, Too Big to Fail, Financial Crisis, Financial Regulation, House Financial Services Committee, Business News

The only people who seem to stand outside the consensus that too-big-to-fail banks are unacceptable are those who hold power and are steering the process of financial reform.

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UK Banks To Sell Hundreds Of Branches After Bailout From Government

AP | RAPHAEL SATTER | Posted 11.02.2009 | Business

Read More: Uk, Nationalization, Financial Reform, Bailouts, Banks, Rbs, Northern Rock, Eu, Lloyds Banking Group, Credit Crunch, Fiscal Policy, Business News

LONDON — The Royal Bank of Scotland, Northern Rock, and Lloyds Banking Group are to sell off as many as 700 branches in the next few years in exchan...

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2010: The Year Main Street Sticks It to Wall Street and Washington

Don McNay | Posted 10.27.2009 | Business

Read More: Mid Term Elections, Upheaval, Congress, Kentucky Guardianship Administrators, Hank Paulson, Lobbyists, Bailouts, Consumer Spending, Big Money, Roger Ailes, Lawrence Summers, Arianna Huffington, State Legislature, Cnbc, Economic Pain, Unemployed, Lexington KY, Spending Cuts, Wall Street-Washington, Andrew Ross Sorkin, Timothy Geithner, Kenneth Feinberg, Inside the Beltway, McNay Settlement Group, Incumbants, Republican National Committee, City Council, High Unemployment, Ky, Willie Stark, Democratic National Committee, Pay Czar, Fox Business News, Clu, Anger, Louisville, Million Dollar Round Table, Ben Bernanke, Alan Greenspan, Bonuses, Czars, Jefferson Airplane, Small Business, President Obama, Congressional Elections, 2010 Elections, Washington, Main Street, donmcnay.com, Tea Parties, Msnbc, Unemployment, Tea Baggers, All the Kings Men, Rural Journalism, Financial Crisis, Housing Crisis, Running for Office, President Bush, Richmond, American College, Incumbant Politican, Personal Finance, Msfs, Chfc, Small Towns, Kentucky, Don McNay, www.mcnay.com, Structured Settlements, Layoffs, Wall Street Bailouts, Wall Street, Vanderbilt University, Robert Penn Warren, Self Dealing, Eastern Kentucky University, Fox News, Certified Structured Settlement Consultant, Glenn Beck, Cssc, Too Big to Fail, Bill O'Reilly, Business News

If anyone has ever dreamed of being an office holder, 2010 is the year to do it. There are going to be several situations where voters elect a complete unknown, just to express their anger about the incumbent.

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The American Bankers Association's 15 Minutes of Fame in Chicago

Dean Baker | Posted 10.26.2009 | Business

Read More: Banks, Too Big to Fail, Bailouts, Fdic, Richard Durbin, American Bankers Association, Chicago, Aba, Sheila Bair, Business News

Like termites, the American Bankers Association does most of its damage in the dark. But the ABA is getting a brief period in the limelight this week as a result of the Showdown in Chicago.

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How The US Blew The Trillion-Dollar Trade Of The Century

Bloomberg | Mark Fisher | Posted 10.26.2009 | Business

Read More: Geithner, John Thain, Hank Paulson, The Logical Trader, Bush, Bill Gross, Paulson, Bailouts, Economic Crisis, Bank of America, Aig, Obama, Bofa, Taxpayers, Barack Obama, Recession, Mark Fisher, Warren Buffet, Merrill Lynch, Wall Street, Bailout, Finance, Lehman Brothers, Fed, Tim Geithner, Bernanke, Treasury, Banks, Ben Bernanke, Business News

When the government was forced to bail out the financial system, our friends in Washington also had the opportunity to make the trade of the century f...

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"Too Big To Fail" Legislation Is On The Way

New York Times | STEPHEN LABATON | Posted 10.26.2009 | Politics

Read More: Goldman Saks, Congress, Economy, Bailouts, Obama, Too Big to Fail Bill, Legislation, Ben Bernanke, Aig, White House, Bailout, Federal Reserve, Lehman Brothers, Bofa, Treasury, Gop, Consumer Protection Agency, Financial Crisis, Paul Volcker, Wall Street, Citigroup, Bank of America, Derivatives, Ben Bernanke Federal Reserve, Democrats, Recession, Barney Frank, House, House Financial Services Committee, Senate, Barack Obama, Tim Geithner, Banks, Bonuses, Too Big to Fail, Executive Pay, Politics News

A senior administration official said on Sunday that after extensive consultations with Treasury Department officials, Representative Barney Frank, th...

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Plea$e, Mr. Feinberg! $ay it Ain't $o!

Fortune's Stanley Bing | Posted 10.22.2009 | Business

Read More: Executive Compensation, Kenneth Feinberg, TARP Payments, Bailouts, Business News

Thousands were involved, of course, but these 175 must stand in the forefront of their cadre, trembling, as their golden parachutes are folded up, their ceremonial swords broken over the knee of the government.

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Administration Plans Big Pay Cuts At Bailout Firms

AP | MARTIN CRUTSINGER | Posted 10.22.2009 | Politics

Read More: Executive Compensation, Bailouts, Wall Street, Executive Pay, Barack Obama, Politics News

WASHINGTON — The Obama administration will order companies that received huge government bailouts last year to slash the base salaries of their ...

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Imagine No Foreclosures... (It's Easy If You Try)

Fortune's Stanley Bing | Posted 10.20.2009 | Business

Read More: Foreclosures, Banks, Federal Legislation, Bonuses, Bailouts, Business News

A spirit of enlightened responsibility and mutually assured destruction must be re-established on both sides of the equation -- lender and borrower alike.

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Does Citigroup Need China?

Dean Baker | Posted 10.19.2009 | Business

Read More: Banks, Bailouts, China Bonds, Economic Recovery, China Economy, China, U.S. China Economy, Citigroup, Business News

The decision by China to stop buying U.S. government debt may not harm the economy's recovery, but it could be devastating to the recovery efforts at Citigroup.

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Fannie, Freddie And Citi: The Rise Of The New Government-Sponsored Enterprise

HuffingtonPost.com | Ryan Grim | Posted 10.16.2009 | Business

Read More: Tarp, Government-Sponsored Enterprise, Bailouts, Gse, Wall Street, Business News

JPMorgan Chase: $3.6 billion in profits in the last quarter. Goldman Sachs: $3.03 billion. Analysts expect a string of sky-high profit announcements t...

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Citigroup Returns to Banking by Divesting Its Oil Trading Arm

Raymond J. Learsy | Posted 10.14.2009 | Business

Read More: Energy, Federal Bailouts, Phibro, Goldman Sachs, Citigroup, Morgan Stanley, Occidental Petroleum, Lehman, Oil, Treasury, Federal Reserve, Andy Hall, Jpmorgan, Bailouts, Business News

It is scandalous that those in government vested with the responsibility of financial oversight have permitted a culture of "heads they win, tails we lose" to take hold and to grow into a financial Frankenstein.

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Blankfein Interview: Goldman Sachs CEO Lloyd Blankfein Says Firm Got No Special Treatment, Plans Bonuses For 2009

The Wall Street Journal | HOLMAN W. JENKINS JR. | Posted 10.11.2009 | Business

Sitting across from me now in his comfortable office on the 30th floor of company headquarters in lower Manhattan, Goldman's CEO Lloyd Blankfein profe...

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Debtors' Revolt: Former Bank Of America Employee Boards The Bandwagon (VIDEO)

HuffingtonPost.com | Arthur Delaney | Posted 10.09.2009 | Business

Read More: Wall Street Bailout, Credit Cards, Debtors Revolt, Bank of America, Bailouts, Banks, Wall Street, Recession, Down Not Out, Business News

A former Bank of America employee has joined the fledgling "debtors' revolt" movement. "I was an assistant branch manager for Bank of America for two...

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TARP Watchdog's Report: Treasury Misled Public On Bailouts

AP | MARTIN CRUTSINGER | Posted 10.05.2009 | Business

WASHINGTON — The credibility of the government's $700 billion financial rescue program was damaged by claims a year ago that all of the initial bank...

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Goldman Sachs To Be Paid $1 Billion If CIT Fails; Taxpayers Would Lose $2 Billion

Financial Times | By Henny Sender and Saskia Scholtes | Posted 10.04.2009 | Business

Read More: Chapter 11, Goldman Sachs, Credit Default Swaps, Finance, CIT Bankruptcy, Treasury, Cit, Timothy Geithner, Bankruptcy, Geithner, Lenders, Bailouts, Blankfein, Lloyd Blankfein, Business News

Goldman Sachs stands to receive a payment of $1bn -- while US taxpayers would lose $2.3bn -- if embattled commercial lender CIT files for Chapter 11 b...

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The Big Bailout of '08: Hindsight Is Blind

Fortune's Stanley Bing | Posted 11.24.2009 | Business

Read More: Bank of America, Bank Failures, Paulson, Bailouts, Bernanke, Recession, Michael Moore, Socialism, Dick Fuld, Capitalism, Thain, Geithner, Business News

Maybe Michael Moore's anti-capitalist screed is actually an interesting nexus where right and left converge in hatred of the system that rewards failure and lets the bad guys run the next iteration of the machine.

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Greenberg's AIG Rescue Plan Makes Him $588 Million Richer

nypost.com | Paul Tharp | Posted 11.22.2009 | Business

Read More: Financial Crisis, Aig, American International Group, Edolphus Towns, Bailouts, Hank Greenberg, Business News

Hank Greenberg's triumphant return to his beloved American International Group is nearly complete -- making him $588 million richer than he was in the...

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Restoring Trust in Our Economic System and the Institutions of Our Democracy

Bruce Judson | Posted 11.21.2009 | Business

Read More: Fcic, Wall Street, Pecora Commission, Bailouts, Tarp, Sec, Glass-Steagall, Business News

America is becoming an angry nation, with diminished faith in its institutions. There is a growing sense among all but the wealthiest Americans that "the game is rigged" against them.

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Who Will Harness The Rage?

HuffingtonPost.com | Dan Froomkin | Posted 11.18.2009 | Politics

Read More: Gop Populist Rage, Populist Rage, Tea Party, Wall Street, Bailouts, Politics News

Ever since the economy crashed and the government paid hundreds of billions of dollars to bail out the fat-cats who were responsible, a populist rage ...

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2010 Election: Trouble Brewing For House Democrats

AP | BETH FOUHY | Posted 11.13.2009 | Politics

Read More: Congress, Approval Ratings, House Democrats, Bailouts, Election 2010, Health Care Reform, Gop, Obama, Majority, Minority, Politics News