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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.

Summers: At Least $50 Billion In Treasury Plan For Housing Relief (VIDEO)

Huffington Post | Posted 05.25.2011 | Business

Larry Summers, President Obama's chief economic advisers, told George Stephanopoulos on ABC this morning that at least $50 billion in the Treasury's r...

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...

Obama Caps Executive Pay Tied To Bailout Money (SPEECH TRANSCRIPT)

AP | JIM KUHNHENN | Posted 05.25.2011 | Business

WASHINGTON — President Barack Obama imposed a $500,000 pay cap on some senior executives whose firms receive government financial rescue money, ...

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 ...

Review Board For Massive Financial Bailout Program Promised By Obama

AP | STEVEN R. HURST | Posted 05.25.2011 | Politics

WASHINGTON — President Barack Obama said Monday that "very modest differences" over a massive package to revive the economy should not delay its...

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...

Obama To Outline New Bailout Strategy In The Coming Days

AP | PHILIP ELLIOTT | Posted 05.25.2011 | Politics

WASHINGTON — President Barack Obama on Saturday promised to lower mortgage costs, offer job-creating loans for small businesses, get credit flow...

Geithner, Bernanke Work On Overhaul Of $700B Bailout

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Treasury Secretary Timothy Geithner, Federal Reserve Chairman Ben Bernanke and other top banking officials met Friday to hammer out...

Auditors: We May Never Know If Bank Bailout Worked

AP | DANIEL WAGNER | Posted 05.25.2011 | Politics

WASHINGTON — We may never know whether the government's $700 billion bailout of the financial industry worked, according to a new report from co...

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...

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.

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 $...

Pelosi Open To More Federal Money For Banks

AP | Posted 05.25.2011 | Politics

WASHINGTON — House Speaker Nancy Pelosi says she is open to additional government rescue money for banks and financial institutions. But she is ...

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...

AP study finds $1.6B went to bailed-out bank execs

AP | FRANK BASS and RITA BEAMISH | Posted 05.25.2011 | Business

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits in the calendar yea...

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.