Skip to: Content
Skip to: Site Navigation
Skip to: Search
SATURDAY, NOVEMBER 7, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: bailout

bailout stories: 558 news summaries

1 - 20 of 558 Stories | 1 2 3 4 5 ... 28 Next >>

Switch to grid view »

Goldman Deal May Bail Out Fannie Mae

But letting superbank load up on tax credits could be politically toxic

Nov 2, 09 9:12 AM CST
(Newser) - Goldman Sachs wants to buy millions in otherwise virtually worthless tax credits from Fannie Mae, but the mega-bank is so politically toxic right now that the Obama administration is considering blocking the deal, the Wall Street Journal reports. “Treasury is reviewing and will not let it proceed unless... More »

MORE ABOUT:
Goldman Sachs • Fannie Mae • Treasury Department • tax credit • bailout

 Mega-Lender CIT 
 Files Chapter 11 

Bailed-out firm's move will cost government $2.3B

Nov 1, 09 4:43 PM CST
(Newser) - CIT Group, a major lender to small and medium-sized American businesses, filed for Chapter 11 today. The move means the government is most likely out the $2.3 billion in TARP bailout funds it put up last year. The "prepackaged" procedure is intended to allow CIT, which reported $71... More »

MORE ABOUT:
Carl Icahn • bankruptcy • bailout • Chapter 11 • Troubled Asset Relief Program • Wall Street bailout • TARP • Jeffrey Peek • bankruptcy protection • CIT Group

 In Congress, 535 New 
 GM Boardmembers 

Legislators strong-arm automaker to keep dealerships, factories open

Oct 29, 09 7:02 AM CDT
(Newser) - GM might not have realized when it took $58 billion in bailout money that it would now be beholden to members of Congress, who have been acting like 535 new board members as they angle for their constituents' (and their own) interests. Dems and Republicans alike have pressured companies to... More »

MORE ABOUT:
Congress • General Motors • auto industry • Jay Rockefeller • bailout • auto bailout

 Ousted AIG CEO 
 Builds AIG 2— 
 With AIG Talent 

Greenberg's new insurer poaches AIG employees at taxpayers' expense

Oct 27, 09 7:47 AM CDT
(Newser) - Hank Greenberg built AIG into a $1 trillion behemoth that needed the biggest bailout in history—but quietly, the former CEO has begun a new insurance company, CV Starr, that is poaching some of AIG's leading talent. He just got an unintended assist from the Treasury: Tough new pay rules... More »

MORE ABOUT:
Iraq • executive compensation • insurance • AIG • Hank Greenberg • bailout • financial crisis

Pay Czar Slashes Top Salaries at 7 Bailed-Out Firms

175 top earners will see pay cuts averaging 50%

Oct 21, 09 3:53 PM CDT
(Newser) - President Obama’s pay czar will cut compensation for the 25 highest-paid employees at seven companies that took large amounts of government aid. The 175 executives will face salary reductions of 90%, but with other compensation elements added in, the total reductions average 50%. Ken Feinberg also will require the... More »

MORE ABOUT:
Chrysler • Citigroup • executive compensation • Bank of America • General Motors • AIG • compensation • bailout • GMAC • Wall Street bailout • pay czar

 Bailed-Out Banks 
 Boost CEO Perks 

From private jets to bodyguards, they just keep taking

Oct 20, 09 6:32 AM CDT
(Newser) - The CEOs of bailed-out banks and financial companies saw their perks and benefits—ranging from private jet use and country club membership to free parking and bodyguards—rise even at the height of the crisis last year. On average, the CEOs of the 29 biggest companies that received federal money... More »

MORE ABOUT:
executive compensation • CEO • bank • bailout • executives • financial crisis • perks

CIT Bust Would Cost US $2.3B, Earn Goldman $1B

Taxpayers shares could go up in smoke while Goldman gains

Oct 5, 09 4:29 AM CDT
(Newser) - Troubled commercial lender CIT, circling the drain for more than a year, would cost taxpayers $2.3 billion in shares purchased by the Treasury Department if it files for Chapter 11 soon—but Goldman Sachs, which gave the lender emergency funding, stands to collect a $1 billion windfall if it... More »

MORE ABOUT:
Goldman Sachs • bankruptcy • risk management • bailout • Chapter 11 • credit default swap • CIT Group

Feds Weigh New Bailouts
for Smaller Banks

Congressional Dems on board with plan to help institutions hammered by real estate

Sep 25, 09 6:40 PM CDT
(Newser) - With the residential and commercial real-estate markets continuing to hammer smaller US banks, the Treasury and other federal agencies are trying to diagram help for institutions considered too much of a gamble under original bailout terms. Congressional Democrats are “very, very supportive” of such a move, a source tells... More »

MORE ABOUT:
real estate • House Financial Services Committee • housing bubble • bailout • Jeb Hensarling • financial crisis • small banks

Volcker: Obama Plan May Lead
to More Bailouts

Former Fed chief
faults strategy
of 'too big to fail'

Sep 24, 09 5:27 PM CDT
(AP) - A top White House economic adviser says the Obama administration's proposed overhaul of financial rules preserves the policy of "too big to fail" and could lead to future bailouts. Former Fed chief Paul Volcker told Congress that by designating some companies as critical to the broader financial system, the... More »

MORE ABOUT:
Wall Street • General Motors • Paul Volcker • AIG • bailout • bank regulation • Obama administration • Wall Street bailout

FDIC May Borrow Billions From Banks

Tapped-out deposit insurance fund
mulls reverse bailout

Sep 22, 09 6:37 AM CDT
(Newser) - After a year of government bailing out the banks, now the banks may bail out the government. Regulators are considering a plan for the FDIC, which protects bank depositors, to borrow billions from healthy banks, enabling the fund to refresh its accounts after a wave of bank failures. Banks and... More »

MORE ABOUT:
bank • FDIC • bailout • bank failure • deposit insurance • Sheila Bair • Timothy Geithner

 Congress, BofA 
 Clash Over Merrill Secrets 

Bank insists merger talk protected, Towns issues spill deadline

Sep 21, 09 5:40 AM CDT
(Newser) - Bank of America claims it doesn't have to produce details about its decision to merge with Merrill Lynch because the conversations are protected by attorney-client privilege. But the chairman of the House Oversight and Government Reform Committee begs to differ, reports the New York Times. The showdown peaked last week... More »

MORE ABOUT:
Bank of America • merger • Merrill Lynch • bailout • House Committee on Oversight and Government Reform • financial crisis • Edolphus Towns

(Newser) - Citigroup is drawing up a plan to get out from under the government’s thumb, the Wall Street Journal reports. The bank called the Treasury over the weekend to say it was looking for ways to scale back the government’s investment, outlining a plan in which it would... More »

MORE ABOUT:
Citigroup • Treasury Department • bailout • Wall Street bailout

What Bailout? AIG CEO Prefers Making Wine

Under fire for blunt talk, Benmosche pursues real passion: grapes

Sep 3, 09 9:25 AM CDT
(Newser) - New AIG chief Robert Benmosche has garnered reams of bad coverage since taking over the train-wreck insurer—and nearly a month into the job, he's still at his holiday villa in Croatia. Reuters visited Benmosche at his coastal idyll and finds his true passion to be not finance but the... More »

MORE ABOUT:
Croatia • Andrew Cuomo • AIG • bailout • financial crisis • Robert Benmosche

Bank of America Ready to Repay $20B in Bailout Cash

But bank haggles with Treasury, Fed over fee for loss-sharing deal

Sep 1, 09 7:59 AM CDT
(Newser) - Bank of America may become the latest institution to pay back a portion of its bailout money, with an eye toward escaping Washington's scrutiny of its pay packages. BofA isn't ready to pay back $45 billion in first-round TARP funds, the Wall Street Journal reports, but wants to start with... More »

MORE ABOUT:
Bank of America • Federal Reserve • Treasury Department • bailout • financial crisis • Wall Street bailout • TARP

(Newser) - Ben Bernanke patted himself on the back today for helping to save the world from a complete economic meltdown, MarketWatch reports. Facing public outrage and the prospect of President Obama dumping him in 6 months, the Fed chair said at a retreat in Wyoming that the world’s central banks... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • recession • global economy • central bank • bailout • financial crisis • economic downturn

 New AIG CEO's Salary: $7M 

Figure makes a mockery of government's 'populist image': blogger

Aug 18, 09 10:05 AM CDT
(Newser) - The new CEO of AIG is bringing home $7 million a year to restore the bailed-out firm to health, Bloomberg reports. Robert Benmosche will receive $3 million in cash and $4 million in common stock, a regulatory filing notes. “The cash component had to be enough to attract a... More »

MORE ABOUT:
CEO • salary • AIG • bailout • Obama administration • financial crisis • recession depression • Robert Benmosche

 AIG Mystery Haunts 
 Conn. Golf Course 

After bailout, taxpayers say they deserve to putt on it

Aug 17, 09 12:10 PM CDT
(Newser) - Locals rarely see anyone playing the pristine golf course that straddles the Connecticut-New York border, and no one’s quite sure who owns it—though most think it’s linked to insurance giant AIG, the New York Times reports. The mysterious Morefar Back O’Beyond course is rumored to have... More »

MORE ABOUT:
golf • Connecticut • AIG • golf course • bailout

(Newser) - Just because top banking executives took home hefty paychecks in recent months doesn't mean they'll get to keep the money, reports Reuters. White House pay czar Kenneth Feinberg declared he has clear authority to "claw back" egregious bonuses already paid out by any bank that received federal TARP money.... More »

MORE ABOUT:
Chrysler • Citigroup • executive compensation • Bank of America • Goldman Sachs • General Motors • bailout • GMAC • American International Group • executive bonuses • Kenneth Feinberg • pay czar

OPINION

 Post-Crisis Wall Street 
 Suffers Convenient Amnesia 

With bailouts, Treasury went too easy on financial industry

Aug 13, 09 11:22 AM CDT
(Newser) - We keep hearing that “Wall Street as we know it ended” in September 2008, but in fact, “the great upheaval of last fall may not have been severe enough,” writes David Weidner in the Wall Street Journal. The government formed a financial “death panel,” choosing... More »

MORE ABOUT:
Wall Street • bailout • JPMorgan Chase • banks • Wall Street bailout

(Newser) - Robert Benmosche has been at the head of AIG for 48 hours now, so naturally it's time for a vacation. The new CEO of the four-times-bailed-out insurer is leaving for his 8,000-square foot villa on the Adriatic for the next two weeks. "It’s probably not a propitious... More »

MORE ABOUT:
executive compensation • Croatia • vacation • AIG • bailout • financial crisis • Wall Street bailout • Robert Benmosche

1 - 20 of 558 Stories | 1 2 3 4 5 ... 28 Next >>


from our news partners