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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: Wall Street bailout

Wall Street bailout stories: 140 news summaries

41 - 60 of 140 Stories | << Prev 1 2 3 4 5 6 7 Next >>

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(Newser) - Two of the least favorite words in the Wall Street lexicon are back in the news: AIG bonuses. The company is requesting the government's permission to dole out millions more to dozens of top executives, the Washington Post reports. Technically, AIG doesn't need the federal approval, but it's still gunshy... More »

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AIG • bonuses • Wall Street bailout • executive bonuses • Kenneth Feinberg

INVESTIGATION

 GE Reaps 
 Billions From 
 Bailout Loophole 

Loophole lets company pull down $74B from FDIC

Jun 29, 09 8:09 AM CDT
(Newser) - The biggest beneficiary of the federal government's debt guarantee program, one of Washington's key bank rescue efforts, isn't a bank or a financial services company—it's General Electric, which exploited a loophole it had lobbied aggressively to insert, and reaped billions in bailout money. A joint investigation by ProPublica and... More »

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General Electric • Treasury Department • FDIC • loopholes • bailout • financing • Wall Street bailout

(Newser) - Citigroup will raise salaries for investment bankers and traders as much as 50% to offset a steep falloff in bonus pay and keep the company’s compensation package competitive, Bloomberg reports. Other employees, like those in the consumer banking section, will receive smaller raises. Citi, which took $45 billion in... More »

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Citigroup • executive compensation • salary • Citibank • investment bankers • bonuses • stock options • financial crisis • Wall Street bailout • traders • raise

 Michael Moore 
 Wants to 
 'Save Our 
 CEOs'

Teaser trailer is actually stunt for new movie

Jun 15, 09 8:24 AM CDT
(Newser) - Let the viral marketing begin. Michael Moore pulled a fast one on New York moviegoers Friday night when, instead of a conventional trailer for his new film, he appeared onscreen Will Rogers-style asking for donations to “save our CEOs,” the New York Daily News reports. Audience reactions were... More »

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entertainment • executive compensation • Michael Moore • documentary • bailout • Wall Street bailout • financial meltdown

(Newser) - Ben Bernanke and Henry Paulson may have leaned on Bank of America CEO Ken Lewis too heavily last year when he tried to back out of a deal to acquire Merrill Lynch, say congressional investigators. In fact, a GOP briefing document says the two Bush officals "put a gun... More »

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Ben Bernanke • Bank of America • Federal Reserve • Henry Paulson • merger • Merrill Lynch • Treasury Department • John Lewis • Wall Street bailout

White House Shifts Course
on Wall St. Pay

Salary caps will be dropped, but bonus restrictions remain

Jun 10, 09 6:18 AM CDT
(Newser) - The Obama administration has scrapped plans for salary caps at banks and other firms that receive government bailout money, reports the Wall Street Journal. But congressional limits on bonuses will remain in force, and the White House will still push for major changes to executive compensation. The double whammy of... More »

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executive compensation • bonuses • salary cap • bailout • Obama administration • Wall Street bailout • Timothy Geithner • TARP

 Citigroup Halts 
 Payouts to 
 Former Execs 

Promised severance packages curtailed to avoid public anger

Jun 2, 09 5:07 AM CDT
(Newser) - Citigroup has told several of its top former executives that it will not pay out millions in promised severance pay, reports the Wall Street Journal. The bank has already forked out more than half of the $100 million it had pledged to five or so senior employees, but it is... More »

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Citigroup • executive compensation • bank • Wall Street bailout • severance pay

AIG's 2008 Bonus Pool Rises to $454M

Company gives congressman the biggest figure yet

May 5, 09 6:04 PM CDT
(Newser) - Lawmakers and journalists keep pressing AIG about how much it paid out in bonuses in 2008, and the number keeps getting bigger, reports Politico. In response to a query from Rep. Elijah Cummings, the company now says it paid $454 million, about 4 times the figure it told Politico in... More »

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Congress • House of Representatives • AIG • bonuses • insurance industry • Edward Liddy • Wall Street bailout • Elijah Cummings • TARP

Anti-New Deal Book Is GOP's New Bible

Republicans flock to
The Forgotten Man in fight over stimulus

Apr 21, 09 10:19 AM CDT
(Newser) - For the Republican Party, looking for any kind of traction for its opposition to President Obama’s stimulus spending, anti-New Deal book The Forgotten Man is a godsend, Politico reports. Author Amity Shlaes suggests, in what some call revisionist history, that FDR’s plan, pushed by government bureaucrats on a... More »

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New Deal • economic stimulus package • Great Depression • Steve King • Spencer Bachus • Eric Cantor • Wall Street bailout • President Obama • Amity Shlaes • The Forgotten Man

Geithner Puts Brakes on Bank Repayments

Treasury sec reluctant to free Goldman, others from constraints

Apr 21, 09 8:01 AM CDT
(Newser) - Tim Geithner is warning Wall Street that he will consider more than banks' individual financial fitness when deciding whether they can pay back bailout funds—and escape from the strings attached to them. In an interview with the Wall Street Journal, the Treasury secretary says that the whole banking system,... More »

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Goldman Sachs • Treasury Department • JPMorgan Chase • Obama administration • Treasury secretary • financial crisis • Wall Street bailout • Timothy Geithner • Obama Cabinet

20 Crime Probes Launched Into Bailout Fraud

Inspector calls TARP
'inherently vulnerable' to insider trading, abuse

Apr 21, 09 6:59 AM CDT
(Newser) - Federal authorities have begun 20 separate investigations into possible fraud, tax violations, insider trading, and other criminal activities surrounding Henry Paulson's $750 billion Troubled Asset Relief Program, reports the Los Angeles Times. It's only the first round of probes, according to the bailout program's inspector general, who called TARP "... More »

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fraud • insider trading • Henry Paulson • bailout • Inspector General • Troubled Asset Relief Program • Wall Street bailout • TARP • toxic assets

(Newser) - Main Street doesn’t hold a monopoly on victimhood, Gabriel Sherman writes in New York. From AIG execs and their disappearing bonuses to Wall Street bankers who get dirty looks, the once-privileged feel like they’re shouldering too much blame. “It is difficult to sympathize with these people,”... More »

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executive compensation • recession • financial services • investment bankers • tax policy • Obama administration • Wall Street bailout • economic downturn

Bailed-Out Banks Don't
Want to Bail Out Chrysler

Lawmakers say rescued banks should cooperate in auto rescue plan

Apr 17, 09 7:44 AM CDT
(Newser) - Auto task force Steven Rattner's request that four big banks write off their $7 billion debt to Chrysler in return for nothing met with a big no from dropped jaws, reports the Washington Post. JPMorgan Chase, Morgan Stanley, Citigroup, and Goldman Sachs are seeking a better deal, but critics argue... More »

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Chrysler • Citigroup • Goldman Sachs • Morgan Stanley • auto industry • bailout • JPMorgan Chase • Wall Street bailout • auto bailout • Steven Rattner

JPMorgan Chief: I Could Repay TARP Tomorrow

Dimon calls bailout money a 'scarlet letter'

Apr 16, 09 10:40 AM CDT
(Newser) - JPMorgan Chase can’t wait to pay back the government’s bailout money, CEO Jamie Dimon said today, after the company posted a better-than-expected $2.1 billion in earnings. The CEO called the funds a “scarlet letter,” Bloomberg reports, and said he was just waiting for the Treasury’... More »

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JPMorgan Chase • Troubled Asset Relief Program • Wall Street bailout • Jamie Dimon • TARP • Public-Private Investment Program • PPIP

(Newser) - Banks who have taken TARP funds from the government are getting creative about the immigration restrictions that come with the bailout, the Wall Street Journal reports. Financial institutions relying on government assistance cannot hire foreign workers unless they prove that they have exhausted the supply of native talent. So... More »

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Goldman Sachs • foreign labor • Citibank • employment recruiting • investment banks • JPMorgan Chase • Wall Street bailout • TARP • overseas

(Newser) - The Obama administration has devised a maybe-legal method of avoiding Congress’ restrictions on companies that accept bailout funds, including limits on executive pay and a requirement that taxpayers get an ownership stake in the firms, the Washington Post reports. To sidestep the restrictions, the administration has created special entities... More »

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Barack Obama • Congress • executive compensation • Treasury Department • bailout • Obama administration • Troubled Asset Relief Program • Wall Street bailout • Timothy Geithner • TARP

 AIG Bailout 
 Has Failed: 
 Greenberg 

Government should focus on reducing stake, restructuring firm, former CEO says

Apr 2, 09 12:39 PM CDT
(Newser) - AIG’s former CEO told Congress today the bailout of the insurance firm has “failed” and that the government should restructure the company, the Wall Street Journal reports. At a House committee hearing, Hank Greenberg said he blamed his successors for the firm’s implosion: "I think they... More »

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insurance companies • insurance • AIG • Hank Greenberg • bailout • financial crisis • Wall Street bailout

Former AIG Chief Greenberg
to Testify Today

'I don't feel any responsibility,' 38-year CEO says of AIG

Apr 2, 09 8:06 AM CDT
(Newser) - Former AIG chief Maurice “Hank” Greenberg will go before a House committee on Capitol Hill today, testifying about the world-wide conglomerate that is now the most infamous culprit of the financial crisis, despite efforts by both the GOP and current AIG management to undercut his credibility. Greenberg is expected... More »

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testimony • AIG • Hank Greenberg • bailout • financial crisis • Wall Street bailout

(Newser) - CEOs of the nation’s largest banks today assured President Obama they understand their institutions are vital to economic recovery and pledged to do all they can to help the government, Bloomberg reports. Following today’s White House meeting, Wells Fargo’s CEO said “the basic message” of the... More »

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White House • Wells Fargo • John Stumpf • Larry Summers • Obama administration • Wall Street bailout • President Obama • meeting

(Newser) - Amid growing dissatisfaction with government restrictions on bailout funds, President Obama will meet with bank CEOs on Friday, Reuters reports. Several banks have indicated that they will repay their TARP loans to avoid new government rules. In the meeting with execs from Citigroup, Goldman Sachs and others, Obama will urge... More »

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Citigroup • Goldman Sachs • Wells Fargo • Obama administration • banks • financial crisis • Wall Street bailout • President Obama • meeting • TARP

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