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- Ex-AIG Chief Foregoes Stock Awards
- One more CEO tarnished with the financial meltdown is losing more of his compensation. Robert Willumstad, who served for three months as head of American International Group, will forego stock awards he was granted when he joined AIG in June. This is the second time Williamstad's pay...
- Blog posts 2008-12-31
- The Little Bank That Could
- Â Steven Pearlstein of The Washington Post has an excellent story in his column today about how a little bank in North Carolina used its federal bailout money the right way. Instead of using $20.5 million in federal bailout funding for executive bonuses or some secret, nefarious purpose,...
- Blog posts 2009-02-11
- When Will the "Chicken and Egg" Cycle Hampering Corporate Lending Break?
- A "chicken and egg" conundrum is plaguing credit markets. While banks that get federal bailout money are faulted for not using the funds to make loans to kickstart the economy, hamstrung corporations are not seeking loans. A Federal Reserve study shows that 60 percent of loan officers at banks surveyed...
- Blog posts 2009-02-05
- Are Morale-Building Junkets Unseemly in This Economy?
- Wells Fargo Bank took a beating in the press and the public eye this week after executives first defended, then cancelled, a lavish corporate junket to Las Vegas. The event is a Well Fargo tradition to honor top performers, but the bank drew criticism for spending big...
- Blog posts 2009-02-04
- And the Hubristic Hits Keep on Coming!
- True to form, The New York Post tabloid has a "You Gotta Be Kidding Me" story. Citigroup, which is so deeply troubled that it has gotten more than $45 billion in federal bailout money and is going through a crash reorganization, has gone ahead with the purchase...
- Blog posts 2009-01-26
- Financial Roundup: Thain Fallout; CapOne Losses; More
- More fallout from Thain departure -- Bank of America is trying to reassure its workforce, investors and the public that the ouster of former Merrill Lynch CEO John Thain doesn't mean its takeover of the investment firm is in jeopardy. Thain resigned over concerns that he didn't tell BofA chief...
- Blog posts 2009-01-23
- Suddenly, Superstar Ken Lewis Has a Lot to Answer For
- Throughout all of the miserable year 2008, Kenneth Lewis was like Superman, bounding tall buildings, picking up catastrophic subprime lender Countrywide Financial, speeding faster than a locomotive and then snapping up Wall Street investment giant Merrill Lynch. He got federal bailout money last fall to the tune of $25 billion,...
- Blog posts 2009-01-19
- Financial Roundup: BofA and Citi Post Losses; Massachusetts Banks Plan Mortgage Help, War in Pennsylvania, Obama Inauguration Gets Donations
- BofA posts loss, gets aid -- Swallowing Merrill Lynch and its $15.31 billion loss for last year's fourth quarter pushed Bank of America into a loss after BofA paid preferred dividends of $2.39 billion or 48 cents per share. BoA got an additional $20 billion in extra federal bailout money...
- Blog posts 2009-01-16
- Financial Roundup: Pandit's Future? Citi May Get $10 Billion, Schapiro in Lawsuits, Frank Offers Bailout Roadmap and More
- Will Vikram Pandit survive? Citigroup's CEO has gotten a public boost of confidence from his board, which management guru Jack Black says is typically one step from dismissal. Troubled Citi should post a $10 billion operating loss. [Source: Market Movers] Citi might get $10 billion from Smith...
- Blog posts 2009-01-12
- America's Bailout Barons: Alive and Well
- If you want to make yourself a little nuts, read about America's Bailout Barons. The Institute of Policy Studies released its annual report on compensation and the results are staggering. Here's one of the more disturbing sentences: "From 2006 through 2008, the top five executives at the 20 banks that...
- Blog posts 2009-09-02
Additional Resources
- Federal Bailout: $23 Trillion and Counting
- Kurt Brouwer submits: None of us really knows how much the various Federal bailout programs will cost, but the cost will certainly be measured in trillions of dollars that taxpayers will have to repay. Based on TARP’s watchdog, the total of all bailouts is a very large number...
- External links 2009-07-21
- GAO Report Confirms ALEC's Early Warnings Against Federal Bailout for States; Tax Dollars Wasted On Everything from Corporate Welfare to Jazz Festivals
- WASHINGTON, June 14 /U.S. Newswire/ -- The General Accounting Office GAO released a report last week showing that the $10 billion federal bailout of the states last year was an ill-advised use of taxpayer money. The report specifically noted that the bWASHINGTON, June 14 /U.S. Newswire/ -- The General...
- Research articles 2004-06-14
- Federal Bailout Gives Continental, America West a Boost.
- By Terry Maxon, The Dallas Morning News Knight Ridder/Tribune Business News Nov. 1--With the help of federal bailout grants, Continental Airlines Inc. made a little money in the third quarter, while America West Holdings Corp. lost less than it otherwise would have....
- Research articles 2001-11-01
- Northwest Posts Profit After Federal Bailout.
- By Eric Torbenson, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News Oct. 26--For a quarter featuring the worst air travel crisis in industry history, Northwest Airlines showed a small profit, thanks to taxpayers. The $19 million net income wouldn't have...
- Research articles 2001-10-26
- Just Say 'No' to Federal Bailout of State Budgets Says American Legislative Exchange Council
- WASHINGTON, Jan. 22 /U.S. Newswire/ -- President George W. Bush and Congress ought to reject a federal bailout of what's been described as the worst state budget crisis 'since World War II,' says a bipartisan group of state legislators. Governors and state lawmakers, according to a recent report, hold several...
- Research articles 2003-01-22
- Improving the Wall Street Bailout Proposal
- Improving the Wall Street Bailout ProposalRE: Improving the Wall Street Bailout ProposalShut down Freddie Mac and Fannie May and let the banks in trouble go bankrupt. The financial market needs this enema. Top off with increased accountability and regulation. And convince the population to buy homes it can afford.RE: Improving...
- Discussion threads 2008-09-30
- Paulson's Bailout Plan Isn't The Only One
- Paulson's Bailout Plan Isn't The Only OneRE: Paulson's Bailout Plan Isn't The Only OneI think Paulson and everyone that backs that plan needs to be sent home...ASAP out of Washington!!!RE: Paulson's Bailout Plan Isn't The Only OneTHE FINANCIAL BAILOUT $700bn FANTASYAs Congress debates yet another boon for the wealthiest Americans...
- Discussion threads 2008-09-25
- Veterans of '90s U.S. bank bailout see opportunity in current one
- A tight-knit group of former senior U.S. government officials who were central players in the savings and loan bailout of the 1990s are seeking to capitalize on the latest economic meltdown, enjoying a surge in new business in their work now as private lawyers, investors and lobbyists. With $700 billion in...
- News items 2009-08-07
- With $5B Goldman Play, Buffett Banks on Fed's Bailout
- With his $5 billion investment in Goldman Sachs, super-investor Warren Buffett is betting the proposed $700 billion economic bailout package, now being hotly debated before Congress, will soon pass without any major changes or restrictions. Once the proposed bailout legislation is law, the U.S. government becomes the ultimate buyer of bad...
- Blog posts 2008-09-24
- With Bailout In Sight, Big Private Investors Back Banks
- While the proposed $700 billion, taxpayer-backed rescue of the economy is grabbing the nation's undivided attention, private investors are pouring billions into the U.S. financial system and backing banking groups poised to survive the current crisis. Right now, an estimated $40 billion in outside money is being pumped into some of the country's biggest banking concerns....
- Blog posts 2008-09-29
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