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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: rescue package

rescue package stories: 13 news summaries
OPINION

Bailout
Is Bad News
for Savers

Banks get trillions, fixed-income investors get screwed: Sloan

Oct 20, 09 12:17 PM CDT
(Newser) - Not fed up enough with just putting your taxpayer dollars directly on the line to bail out the nation’s banks? Allan Sloan has latched on to some insidious “collateral damage” from the government’s rescue plan, those trillions spent “to keep interest rates down to support the... More »

MORE ABOUT:
Federal Reserve • investments • recession • Treasury Department • interest rate • Allan Sloan • rescue package • Wall Street bailout • TARP

TARP Watchdog: Bailouts May Cost US $24T

Number based on 'hypothetical maximum,' Treasury counters

Jul 20, 09 3:41 PM CDT
(Newser) - The special inspector overseeing Treasury’s TARP program says federal assistance to banks and other financial entities could end up costing taxpayers $23.7 trillion, Bloomberg reports. Aside from the $700 billion bailout, Neil Barofsky says in testimony prepared for told Congress tomorrow, other trillion-dollar federal programs could balloon. “... More »

MORE ABOUT:
Treasury Department • taxpayer money • federal spending • rescue package • Wall Street bailout • Timothy Geithner • TARP • Neil Barofsky

Geithner Overhauls Bailout to Aid Homeowners, Small Biz

Obama team wants to cover homeowners, small business

Jan 9, 09 6:08 AM CST
(Newser) - The incoming Treasury secretary, Tim Geithner, is conducting a top-to-bottom overhaul of the $700 billion financial rescue program passed by a skeptical Congress last fall. Geithner and other Obama advisers will expand the program to cover small businesses, municipalities, and even homeowners before asking Congress for the second tranche of... More »

MORE ABOUT:
Congress • Henry Paulson • Treasury Department • bailout • Obama administration • rescue package • Timothy Geithner

Ireland Buys 75% of Troubled Lender in Banks Bailout

Anglo Irish goes into taxpayers' hands after scandal

Dec 22, 08 4:33 AM CST
(Newser) - Ireland became the latest nation to partially nationalize struggling banks last night, buying 75% of the deeply troubled Anglo Irish Bank and bailing out others, reports the Financial Times. The bank, whose shares had already dropped 95% from bad mortgage debts, suffered a further blow last week when its CEO ... More »

MORE ABOUT:
Ireland • mortgage debt • banking • Irish economy • rescue package • recapitalization • Anglo Irish

 US May Take 
 Big Stake in Big 3 

Draft bill creates 'auto czar' for firms' reorganization

Dec 9, 08 6:40 AM CST
(Newser) - As a $15 billion auto industry rescue takes shape, the terms of the plan would give government a major stake in the Big Three and allow it to guide a bankruptcy-like restructuring process, the Wall Street Journal reports. Under the terms of draft legislation, the US could take shares worth... More »

MORE ABOUT:
Bush administration • Congress • auto industry • Big Three • bailout • rescue package

analysis

 Bailout Harks 
 Back to FDR, 
 With More Risk 

'Unimaginable' spending will mean WWII-sized deficit

Nov 30, 08 2:37 PM CST
(Newser) - Washington's latest $1 trillion injection into the economy echoes Depression-era and WWII revival plans, but with a dangerous twist, writes Jim Puzzanghera in the Los Angeles Times. Even if the bailouts succeed, the government's mountain of debt will likely bury the next generation in high interest rates and inflation. And... More »

MORE ABOUT:
World War II • budget deficit • bailout • economy • rescue package • financial crisis

 Feds OK 
 Massive $20B 
 Citigroup Bailout 



Taxpayers will also back $300 billion in shaky debt

Nov 24, 08 3:49 AM CST
(Newser) - The US will bail out Citigroup with $20 billion in fresh capital and a guarantee to mop up $306 billion in toxic assets, the Wall Street Journal reports. The deal, announced late last night, marks a turning point in the financial crisis: In addition to injecting nearly $300 billion into... More »

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Citigroup • bank • Citibank • bailout • bank failure • rescue package • financial crisis

Obama Plan Includes Freeze on Foreclosures

Plan would ease borrowing from retirement accounts

Oct 13, 08 3:49 PM CDT
(Newser) - Barack Obama detailed an economic rescue plan today that includes incentives for job creation and a federal credit line for state and local governments, the Toledo Blade reports. Playing to voters in hard-hit Ohio as he preps for Wednesday's debate, Obama said, "I won’t pretend that this... More »

MORE ABOUT:
Barack Obama • John McCain • credit crisis • Toledo, Ohio • Election 2008 • rescue package • financial crisis

OPINION

US Must Save Global Economy —This Weekend

US must join UK's plan or face disaster: Krugman

Oct 10, 08 7:30 AM CDT
(Newser) - Since the collapse of Lehman Brothers the financial crisis has gone from severe to terrifying, but the response of the United States and Europe has been "woefully inadequate," writes New York Times columnist Paul Krugman. We are now at a tipping point, and if world policymakers don't... More »

MORE ABOUT:
Gordon Brown • Henry Paulson • Lehman Brothers • credit market • credit crisis • bailout • rescue package • financial crisis • capital injection

Socialists:
Rescue Plan's Not Our Bag

Far left thinks $700B bailout is just capitalism remixed

Oct 4, 08 1:03 PM CDT
(Newser) - Some on the right are decrying the $700 billion rescue plan as a step toward American socialism, but the real socialists beg to differ, the Wall Street Journal reports. “Bailing out the biggest financial corporations in the country is a far cry from what we have in mind when... More »

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Communist Party • socialism • capitalism • bailout • rescue package • financial crisis

 House OKs $25B Detroit Rescue 

Package of low-interest loans aims to prop up staggering auto industry

Sep 25, 08 3:29 AM CDT
(Newser) - The House has approved a $25 billion lifeline to Detroit's battered auto industry, the Detroit Free Press reports. The package of low-interest loans to help automakers switch to manufacturing more fuel-efficient vehicles is expected to be approved by the Senate today and signed by the president soon after. Michigan lawmakers... More »

MORE ABOUT:
Chrysler • General Motors • Detroit • fuel efficiency • Michigan • automaker • Ford • auto industry • bailout • federal loans • rescue package

Tab for Fannie, Freddie Bailout Pegged at $25B

But chance better than 50% feds won't need to step in: budget office

Jul 22, 08 12:39 PM CDT
(Newser) - A federal bailout of Fannie Mae and Freddie Mac will cost $25 billion, the Congressional Budget Office said today, but there’s a better than 50% chance no rescue will be needed. The plan sought by Treasury Secretary Henry Paulson would extend an unlimited line of credit to the government-sponsored... More »

MORE ABOUT:
Henry Paulson • Congressional Budget Office • Freddie Mac • Fannie Mae • Treasury Department • rescue package • financial crisis

 Washington Seeks Rescue
 of Freddie and Fannie 

White House asks Congress to approve package

Jul 13, 08 5:48 PM CDT
(Newser) - After a frenzied week that saw Fannie Mae and Freddie Mac teeter near collapse, the US Treasury and Federal Reserve are seeking to save the nation's two largest mortgage finance companies. Officials say that the plan, if approved by Congress, will let the government buy billions of dollars in Freddie... More »

MORE ABOUT:
mortgage • Freddie Mac • Fannie Mae • economy • rescue package • financial crisis

13 Stories


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