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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Wall Street bailout

Wall Street bailout stories: 140 news summaries

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Lobbyists Gobbling Up $700B Bailout

There's not much left as everyone fights for piece of shrinking pie

Nov 12, 08 7:51 AM CST
(Newser) - That $700 billion allocated in this fall's federal bailout sounded like a lot of money—but after a feeding frenzy led by Washington lobbyists, there's not much cash left over, reports the New York Times. Of the first tranche of $350 billion, only $60 billion remains uncommitted, and everyone from... More »

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lobbying • Treasury Department • lobbyists • lobbying blitz • bailout • Wall Street bailout

 Struggling AmEx Asks 
 Feds for $3.5B Infusion 

Credit card company is reeling as consumers cut back spending

Nov 12, 08 7:10 AM CST
(Newser) - Falling consumer spending and rising defaults have prompted American Express—which has seen its stock plunge 57% this year—to ask for $3.5 billion from the government’s $700 billion bailout fund, reports the Wall Street Journal. The company Monday received Federal Reserve approval to become a bank... More »

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American Express • consumer spending • Capital One • financial crisis • Wall Street bailout

 Even Healthy Banks 
 Eye Bailout Bucks 

Institutions fear market will judge them harshly for not tapping into $700B pot

Nov 3, 08 9:58 AM CST
(Newser) - Investor and public pressure could prompt up to 1800 more financial institutions, both publicly and privately held, to apply for a share of the $700 billion bailout fund, the Wall Street Journal reports. The cash-grab likely stems from fear that failing to do so would make an institution look like... More »

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Henry Paulson • Treasury Department • banking industry • financial crisis • Wall Street bailout

OPINION

Obama, Not McCain, Would Be Third Bush Term

Dem doesn't offer much hope of change from current president

Nov 1, 08 6:25 PM CDT
(Newser) - Barack Obama has freely used the Bush card, reminding voters that John McCain has agreed with the president 90% of the time—but “the irony here is that Obama actually has much more in common with Bush than McCain does,” Bill Siegel writes in the National Review. He... More »

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Iraq • Afghanistan • Barack Obama • John McCain • Islam • Karl Rove • George HW Bush • foreign policy • David Axelrod • George W. Bush • Wall Street bailout

Bailout Hits Hiring Hurdles Over Fees, Vetting

Low fees for managers and lack of Treasury manpower put brakes on bailout

Oct 28, 08 8:34 AM CDT
(Newser) - Though the $700 billion bailout deal won approval Oct. 3, the Treasury has yet to begin purchasing bad loans that are poisoning the credit pool, due to delays in hiring financial firms to oversee the program, the Wall Street Journal reports. Concern over the fees that will be paid to... More »

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Henry Paulson • asset management • Treasury Department • bailout • financial crisis • Wall Street bailout

AIG Has Already Spent Most of $123B Bailout

Ailing insurance
giant warns it may
need more help

Oct 24, 08 9:05 AM CDT
(Newser) - Struggling insurance giant AIG, recipient of the largest government bailout in history, has burned through three-quarters of its $123 billion financial lifeline, the Washington Post reports. As of yesterday, AIG has withdrawn $90.3 billion from the Federal Reserve’s credit line, mostly to pay off bad bets insuring toxic... More »

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AIG • mortgage backed securities • subprime crisis • bailout • Wall Street bailout • financial meltdown

AIG Agrees to Freeze Executive Bonuses 

NY takes tough action to limit payouts to curNewser Newsroom 1.15.0rent, former bigwigs

Oct 22, 08 4:55 PM CDT
(Newser) - AIG will suspend bonus payments to its executives after getting pressure from New York Attorney General Andrew Cuomo. The ailing insurance firm, which recently got billions of dollars in loans from the Federal Reserve, also will stop $19 million in payments to a former CEO fired in June. Cuomo said... More »

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insurance companies • executive compensation • insurance • AIG • bonuses • bailout • financial crisis • Wall Street bailout

Wall St. Bonuses Are Down, but Hardly Out

Even giants taking a federal handout set aside millions for execs

Oct 22, 08 9:29 AM CDT
(Newser) - Wall Street bonuses could top $23 billion this year despite the woes of the global economy, Forbes reports. Indeed, that figure is down some 30% from last year’s $33.2 billion, but a smaller pool of employees, competition among companies to keep top performers, and the effects of mergers... More »

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Wall Street • Citigroup • executive compensation • Goldman Sachs • bonuses • financial crisis • Wall Street bailout

ANALYSIS

 Tax Hikes Loom as 
 Deficit Nears $1T 

Blue or red, next president may need to boost revenues with increase

Oct 16, 08 10:03 AM CDT
(Newser) - The bailout and other government spending are adding on to an already-enormous US budget deficit, and the next president might well have to raise taxes, no matter who it is, the Christian Science Monitor reports. This fiscal year will put the US down nearly $1 trillion, one nonpartisan group estimates,... More »

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national debt • budget deficit • tax hikes • financial crisis • Wall Street bailout • Treasury bills

Homeowners Need Bailout, Too: FDIC Chief

Regulator clashes with Paulson, Bernanke over relief for lenders

Oct 16, 08 9:25 AM CDT
(Newser) - The FDIC chief is blasting the White House and Congress for focusing the $700 billion bailout on financial institutions and not giving homeowners facing foreclosure more help, reports the Wall Street Journal. Sheila Bair, a Bush appointee, says the government’s insistence that homeowners not profit from its help—... More »

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Ben Bernanke • Henry Paulson • FDIC • housing crisis • subprime crisis • bailout • financial crisis • Wall Street bailout • Sheila Bair

OPINION

Where Is Wall Street's Leadership in This Mess?

Finance could take steps to mend the crisis of confidence

Oct 14, 08 12:53 PM CDT
(Newser) - It’s easy to criticize Hank Paulson, writes Steven Pearlstein for the Washington Post—for not predicting the depth and breadth of the crisis as subprime mortgages went sour a year ago, for letting Lehman Brothers fail, or for taking his lead from the UK this weekend. But Paulson and... More »

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Wall Street • Henry Paulson • Lehman Brothers • bailout • Main Street • financial crisis • Wall Street bailout

Ex-AIG Chair Seeks Cushier Bailout Terms

Greenberg files letter with SEC asking for less 'onerous' deal

Oct 14, 08 10:54 AM CDT
(Newser) - With the Fed now injecting capital directly into Wall Street's spiraling banks, AIG's former chairman worries the company got shafted, the Wall Street Journal reports. The insurer will go under if the government doesn't change its bailout terms from a two-year, high-interest loan to 10-year nonvoting preferred stock,... More »

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

(AP) - President Bush this morning confirmed the government's $250 billion plan to buy shares in banks, in the latest move to calm the turmoil in the financial markets and stave off a deep recession. Speaking from the Rose Garden after an early-morning meeting with economic advisers, Bush said the move will... More »

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Henry Paulson • financial markets • bailout • George W. Bush • financial crisis • Wall Street bailout • financial meltdown

Paulson to Banks: Do It for Your Country

$250B bailout needed to restore faith, keep capital at home

Oct 14, 08 1:00 AM CDT
(Newser) - The $250 billion plan to guarantee new bank debt and unlimited bank deposits in certain accounts isn’t just an option, Treasury Secretary Paulson told the chiefs of nine banks yesterday; it’s for the good of the country. The plan, the country’s response to similar European banking actions,... More »

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Henry Paulson • Treasury Department • credit crisis • FDIC • bailout • financial crisis • Wall Street bailout

Here Comes the New Bailout Plan

Paulson will match Europe's effort by spending $250B
on stock in 9 banks

Oct 13, 08 5:40 PM CDT
(Newser) - The US version of Europe's new financial bailout plans is coming tomorrow, the Wall Street Journal reports. In the wake of a rollout by European nations today, and soaring stock markets worldwide, Washington will do what it dissed only weeks ago: snap up billions in bank equity stakes. The... More »

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Henry Paulson • bailout • banks • financial crisis • Wall Street bailout

MARKETS

 Dow Gains 936 on New Bailouts 

Biggest one-day boost for Dow on record

Oct 13, 08 3:35 PM CDT
(Newser) - Weekend news of coordinated global action to buy stakes in troubled banks cheered investors, and the Dow posted its biggest-ever 1-day jump in both points and percentage today, MarketWatch reports. The index rose 936.42 to 9,387.61, the Nasdaq jumped 194.74 to 1,844.25, and the... More »

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Dow Jones • Nasdaq • S&P 500 • financial crisis • Wall Street bailout

OPINION

 Hitchens: 
 We're Now 
 a Banana 
 Republic 

Accountability is nil, the president useless

Oct 10, 08 2:28 PM CDT
(Newser) - The credit crisis has laid bare the failings of US government, writes Christopher Hitchens in Vanity Fair, putting us on par with other banana republics such as Zimbabwe and Venezuela. How else to describe this "collusion between the overweening state and certain favored monopolistic concerns, whereby the profits can... More »

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Zimbabwe • Venezuela • Christopher Hitchens • United States • George W. Bush • credit market chaos • banana republics • financial crisis • Wall Street bailout • Bill Maher Grid

OPINION

 The Maverick Will Rise Again 

Conservatives may have turned against him, but the National Review hasn't

Oct 10, 08 2:01 PM CDT
(Newser) - Wall Street is reeling, but the real depression has set in among Republicans who seem resigned to losing the White House. "Yet for all the gloom, there are several reasons why this race is by no means over," Victor David Hanson writes for the National Review. The neocon... More »

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Barack Obama • John McCain • Election 2008 • Iraq war • credit market chaos • Bill Ayers • Wall Street bailout

OPINION

Bottom-up Bailout: Pay Off Delinquent Mortgages

Using tax money to pay delinquent mortgages would revive markets

Oct 1, 08 11:55 AM CDT
(Newser) - Rescuing ordinary Americans—not Wall Street—should be the theory behind the government bailout, and that means paying off delinquent mortgages, say two Yale professors in the Washington Post. If that sounds unfair, it is, but it's "a small price to pay to avoid a rapid transition to a... More »

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housing market • foreclosure • Treasury Department • bailout • financial crisis • Wall Street bailout

 SEC Relaxes 
 'Fire Sale' 
 Assets Rule 

Aims to ease pressure by freeing assets from free-market value

Oct 1, 08 3:23 AM CDT
(Newser) - The SEC is relaxing enforcement of a controversial rule in a bid to ease pressure on banks during the financial crisis, the New York Times reports. Current accounting rules require companies to value assets at a fluctuating fair market price. In the current financial chaos, values are rapidly heading south,... More »

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SEC • accounting • JPMorgan Chase • banks • financial crisis • Wall Street bailout • American Bankers Association

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