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Bank Bailout

We Are So Angry That We've Lost Our Minds

Larry Gellman | Posted 05.25.2011 | Business
Larry Gellman

President Obama says we should stay angry but express our outrage in productive ways. I say we should get rid of the anger altogether.

Wall Street's Credibility Problem

Lincoln Mitchell | Posted 05.25.2011 | Business
Lincoln Mitchell

The financial and political elite may be right in their analysis about the centrality of the finance sector, but the problem is, they have no remaining credibility on this issue.

Jason Linkins

CNBC Anchors Change Tune On Obama (VIDEO) | Jason Linkins | Posted 05.25.2011 | Media

For a long while, CNBC has been one of the White House's most fervent critics, what with all the "wealth destruction" and the support for "loser's mor...

AIG and the Undeserving Rich

Joseph A. Palermo | Posted 05.25.2011 | Business
Joseph A. Palermo

For years unbridled capitalism has beat down and bloodied the working middle class in this country. Those chickens are now coming home to roost.

Madoff, AIG and the American "Gospel of Success"

Hoyt Hilsman | Posted 05.25.2011 | Politics
Hoyt Hilsman

On an increasingly crowded, polluted and interdependent planet, the human race may not be able to indulge the "cultural DNA" of a society that has Darwinian opportunism as a credo.

Thomas Friedman On Bank Bailout: "Fairness Has Left The Building"

CBS News | Posted 05.25.2011 | Politics

On CBS' Face The Nation this morning, New York Times columnist Tom Friedman weighed in on the financial crisis and the administration's plans to fight...

Treasury To Offer Details On Toxic-Asset Plan In Coming Week

Reuters | Glenn Somerville | Posted 05.25.2011 | Business

The Treasury will offer more details in the coming week about how proposed public-private partnerships to take bad assets off banks' books will work, ...

Bailed Out Bank Had Friends in High Places

ProPublica | Paul Kiel | Posted 05.25.2011 | Home

The queue of banks seeking bailout money is a long and winding one. They can't even get a "hi there" from Treasury officials, bankers complain. But...

How I Lost My Job and Why I don't want it back

Jon Santiago | Posted 05.25.2011 | Business
Jon Santiago

I now think the "Main Street" perception of recklessness in the ivory towers of Wall Street, which initially struck me as too emotional and unfounded, is partially accurate.

The Change We Need I: A Bank for America

Sanjiv Gupta | Posted 05.25.2011 | Business
Sanjiv Gupta

If there is a positive side to the financial crisis, it is this: We can no longer avoid confronting the limits of our democracy when our lives and communities are thrown into violent disarray.

Washington Planning For Big Bank Failure

CNN Money | Colin Barr | Posted 05.25.2011 | Business

The government is bracing for a big bank failure. A bill introduced in Congress would give the FDIC, the agency that stands behind Americans' bank de...

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

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

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...

Why Bailing Out Homeowners Will Not Fix the Housing Market

David Paul | Posted 05.25.2011 | Business
David Paul

The problem with these efforts is that they will not fix the fundamental problem, but instead will simply push the problem -- the loss of home equity -- onto the next generation of homebuyers.

Citigroup, Gov Reach Deal For Up To 36% Stake

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The U.S. government will exchange up to $25 billion in emergency bailout money it provided Citigroup Inc. for as much as a 36 perce...

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

AP | RUPA SHENOY | Posted 05.25.2011 | Business

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

Citibank Hates Old People

Mena Trott | Posted 05.25.2011 | Business
Mena Trott

During the election there was a lot of talk of not using a hatchet when a scalpel is needed. It seems as if Citibank just brought out their hacksaw and blunt hatchet.

Geithner: Nationalization Is "The Wrong Strategy," "Deeply Offended" By Banks

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

Treasury Secretary Timothy Geithner spoke with PBS' Jim Lehrer on Wednesday evening about the Obama administration's economic plans. Among the highli...

Roubini: Temporary Bank Nationalization Is The Market-Friendly Solution

CNBC | Posted 05.25.2011 | Business

Nationalizing insolvent US banks is the best solution to avoid a Japan-like scenario in which 'zombie' financial institutions would eat up public reso...

Northern Trust, Bailed-Out Bank, Spends Millions Partying In Los Angeles | Posted 05.25.2011 | Business

A bank that received $1.6 billion in bailout money just spent a fortune last week in L.A. hosting a series of lavish parties and concerts with famous ...

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

AP | TIM PARADIS | Posted 05.25.2011 | Business

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...

Why Is Geithner Continuing Paulson's Policy of Violating the Law?

William K. Black | Posted 05.25.2011 | Business
William K. Black

Paulson and Geithner's refusal to comply with the law has already cost the taxpayers scores of billions of dollars in unnecessary costs. Geithner indicated Friday that he would continue to flout the law.

Blame the Banks, Not Homeowners for Foreclosure Crisis: Obama's Plan is a Step in the Right Direction

C. Nicole Mason | Posted 05.25.2011 | Business
C. Nicole Mason

Many Americans bought their homes because they believed in the age old value of homeownership and thought it would make a sound investment.

Wall Street's Hall Of Shame

Clusterstock | Posted 05.25.2011 | Business

There's plenty of blame to go around for the current financial crisis. But we think there are a number of people (26 to be precise) who are particular...

Community Banks: TARP Is Not A Bailout

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

UPDATE: Iberiabank is first bank to return TARP funds it accessed via the CPP program. As Citigroup takes a step closer to nationalization and atten...

Business Credit Crunch: Where it Really Hurts

Tim Berry | Posted 05.25.2011 | Business
Tim Berry

Last week we asked business owners about business credit: bank loans, commercial credit, SBA loans, etc. Results were not good, as the numbers (below)...