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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: bailout

bailout stories: 564 news summaries

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(Newser) - The US will provide $5 billion in aid to the nation’s auto-parts manufacturers, a sector struggling because of the tenuous financial situation of Detroit’s Big Three car companies, the Wall Street Journal reports today. Many parts makers face bankruptcy, as they have not been paid for product delivered.... More »

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Chrysler • General Motors • recession • Ford • credit crisis • manufacturer • bailout • cars • auto bailout • auto-parts suppliers

 House Votes Today 
 on Bonus Clawback 



Bill being rushed through would slap 90% tax on bonuses at bailed-out firms
 

Mar 19, 09 3:51 AM CDT
(Newser) - The House will vote today on a hastily crafted bill to claw back bonuses from executives at AIG and other bailed-out firms, reports the Hill. The bill, drawn up by Democratic tax experts, slaps a 90% tax on bonuses over $250,000 at firms that received $5 billion or more... More »

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Congress • executive compensation • House of Representatives • AIG • bonuses • bailout • Wall Street bailout

 Dodd: 'I Saved 
 AIG Bonuses at 
 White House 
 Request' 

He was follwoing White House orders, sayd Senate Banking Committee chair

Mar 19, 09 2:32 AM CDT
(Newser) - The bonus loophole mystery has been solved. Banking Committee Chairman Sen. Chris Dodd added language to the stimulus bill that allowed the AIG bonuses to stand—at the request of the White House, he told CNN. The Connecticut Democrat said he did so reluctantly at the insistence of unnamed Obama... More »

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Chris Dodd • AIG • bonuses • Senate Banking Committee • bailout • fiscal crisis

 AIG Bonuses By the Numbers 

NY AG releases breakdown of bonus figures; plans to press AIG for names

Mar 18, 09 8:37 AM CDT
(Newser) - AIG's $165 million in bonuses went 418 different ways, according to one angry attorney general. Other figures released by New York Attorney General Andrew Cuomo, who subpoenaed the firm on Monday:
  • 73 employees received bonuses of $1 million or more
  • 11 of those people no longer work for AIG
... More »

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executive compensation • Andrew Cuomo • AIG • bonuses • bailout • Wall Street bailout

OPINION

 AIG CEO: Bonuses 
 'Distasteful,' Necessary 

Liddy says paying employees will help taxpayer in long run

Mar 18, 09 6:23 AM CDT
(Newser) - AIG's $165 million bonus payout has produced "a palpable wave of anger," admits Edward Liddy, the insurance giant's government-appointed CEO. But in an op-ed for the Washington Post, Liddy says that paying employees now will prevent "undue risk" and help AIG wind down the most dangerous positions... More »

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executive compensation • AIG • bonuses • bailout • Edward Liddy • financial crisis • credit default swap

 Geithner: We'll 
 Deduct AIG 
 Bonuses From 
 Next Bailout 

Insurer will be forced to return $165 million, treasury boss says in letter

Mar 18, 09 4:43 AM CDT
(Newser) - Treasury Secretary Tim Geithner promised last night that taxpayers wouldn't be paying a penny toward AIG's massive executive bonuses, Bloomberg reports. He explained in a letter to lawmakers that the government would require the insurer to pay back the $165 million from company operations and that an equal amount would... More »

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executive compensation • AIG • bonuses • bailout • Wall Street bailout • Timothy Geithner

(Newser) - AIG chief Edward Liddy has the not-so-distinct pleasure of testifying before Congress tomorrow just as rage at his company is reaching a full-throated roar. The House and Senate seem to be in a race to see who can recover the $165 million in bonuses faster, the Hill reports. If AIG... More »

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Wall Street • insurance companies • AIG • bonuses • bailout • Edward Liddy

OPINION

Spitzer: AIG Bailout an 'Inside Job'

Scandal isn't bonuses, it's payments to influential debtors

Mar 17, 09 1:43 PM CDT
(Newser) - Eliot Spitzer is mad about AIG, and not because it’s giving out bonuses. No, the real scandal, he writes for Slate, is the tens of billions of taxpayer dollars going to pay back AIG’s counterparties. The decision to bail out AIG was made by Henry Paulson, Timothy Geithner,... More »

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Goldman Sachs • Henry Paulson • Eliot Spitzer • AIG • Lloyd Blankfein • bailout • Timothy Geithner

(AP) - Outraged lawmakers threatened today to impose new taxes to recoup at least some of the $165 million in bonuses that insurance giant AIG awarded executives and traders after getting billions in federal bailout money. "What is the highest excise tax we can impose that will stand up in court?"... More »

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Congress • taxes • executive compensation • AIG • bonuses • Max Baucus • bailout • Steve Israel • Tim Ryan • grandstanding

Wall St. Looks to Skirt Bonus Limits With Padded Salaries

Attempt to skirt new rules could anger shareholders

Mar 17, 09 8:14 AM CDT
(Newser) - In a move to skirt government restrictions on executive pay for recipients of bailout cash, some Wall Street companies are discussing raising base salaries, the Journal reports. Citigroup and Morgan Stanley are considering the idea, which is gaining currency as regulators keep a watchful eye on bonuses, say industry insiders.... More »

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Wall Street • Citigroup • executive compensation • Morgan Stanley • bonuses • bailout • banks • financial crisis • TARP • salaries

ANALYSIS

 AIG Uproar 
 Squanders 
 Obama Capital 

Anger over AIG creates more obstacles for president's agenda

Mar 17, 09 4:47 AM CDT
(Newser) - Mounting outrage over the bonuses paid to AIG execs is threatening to bring Barack Obama's presidential honeymoon to a bitter end, the Washington Post reports. Lawmakers from both parties are demanding answers the administration is struggling to provide, and the uproar is threatening to sap both public and congressional support... More »

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Barack Obama • executive compensation • AIG • bonuses • bailout • Obama administration • President Obama

AIG Execs Should Quit or Commit Suicide: GOP Senator

Grassley urges bosses to follow 'Japanese model' and fall on their swords

Mar 17, 09 2:40 AM CDT
(Newser) - AIG's bigwigs should follow the "Japanese example" for shamed executives and fall on their swords, Iowa Sen. Charles Grassley believes. The Republican lawmaker told a local radio program that  the bosses responsible for running the business into the ground should bow before the American people and apologize, reports ABC.... More »

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executive compensation • Charles Grassley • AIG • bonuses • bailout • executives

 Obama 
 Goes After 
 AIG Bonuses 

President instructs Geithner to use "every legal avenue" to reclaim funds

Mar 16, 09 12:16 PM CDT
(Newser) - President Obama has asked Tim Geithner to use “every legal avenue” to prevent AIG from paying out $165 million in bonuses to top employees who had a hand in the company's near-collapse, the Wall Street Journal reports. "This isn't just a matter of dollars and cents. It's about... More »

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Barack Obama • derivatives market • AIG • bonuses • compensation • bailout • financial crisis • Timothy Geithner

analysis

In Bailout Fight, Team
Obama Fears Backlash

Prez could be seen as bank 'advocate,' sparking anger

Mar 16, 09 8:56 AM CDT
(Newser) - The Obama administration is getting more and more nervous about the possibility of a populist backlash, as anger toward the institutions at the heart of the financial crisis swells, the New York Times reports. That anger may be aimed at anyone linked to Wall Street—including the government that’s... More »

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populism • bailout • Obama administration • backlash • President Obama

(Newser) - Record-breaking losses and $170 billion in federal loans haven't curbed AIG's plan to pay out $165 million in executive bonuses, the New York Times reports. Treasury Secretary Timothy Geithner called up AIG chief Edward M. Liddy to halt the payments, and the company agreed to alter some—but Liddy said... More »

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AIG • bonuses • bailout • Edward Liddy • Timothy Geithner

Waters Helped Get Funds
for Bank With Family Ties

Critics see major conflict of interest

Mar 12, 09 6:00 PM CDT
(Newser) - Maxine Waters is getting lots of unwanted attention about her role in helping a bank with family ties get a helping of TARP money. Both the New York Times and the Wall Street Journal have stories raising questions about whether the California congresswoman used undue influence to get aid for... More »

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Congress • bank • bailout • conflict of interest • banking industry • TARP • Maxine Waters

Some Banks Want to Bail
on Bailout

Critics charge growing list of conditions will damage industry

Mar 11, 09 2:20 AM CDT
(Newser) - A growing number of banks are seeking to return or avoid government bailout funds because of the lengthening list of conditions attached to the money, the New York Times reports. Critics say the terms—including modification of mortgages and caps on executive pay—smack of economic engineering. Bankers are especially... More »

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bank • credit crisis • banking • bailout • financial crisis • Wall Street bailout • TARP

 Eli Broad: AIG Can't Recover 

LA billionaire says he has "no hope" for insurer

Mar 10, 09 7:20 AM CDT
(Newser) - Eli Broad, a former director and shareholder of AIG, said yesterday that "it is too late" for the insurance giant to make any recovery. The Los Angeles billionaire told Reuters that the government's initial bailout of AIG came "on the harshest of terms," and that a... More »

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Eli Broad • insurance • AIG • bailout • financial crisis

(Newser) - If you want to understand the phrase “too big to fail,” look no further than AIG, the Los Angeles Times reports. With $1.1 trillion at the end of 2007, operations in 130 countries and 74 million customers, AIG is so entrenched in the global financial system that... More »

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health insurance • insurance companies • AIG • bailout • life insurance • airlines • financial crisis • TARP

Hedges, Private Equity Funds to Invest in Bailout

TALF program could see very rich outfits get even richer

Mar 6, 09 7:11 AM CST
(Newser) - With its highly touted TALF program to spur consumer lending, the government is undertaking a $1 trillion effort that hinges on the participation of some unpopular outfits: hedge funds and private equity firms. As the Washington Post reports, the Fed and Treasury's "public-private partnership" relies on investment from the... More »

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private equity • Federal Reserve • Treasury Department • Blackstone • consumer loan markets • bailout • hedge funds • TALF

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