Skip to: Content
Skip to: Site Navigation
Skip to: Search
THURSDAY, NOVEMBER 26, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: bank

bank stories: 140 news summaries

61 - 80 of 140 Stories | << Prev 1 2 3 4 5 6 7 Next >>

Switch to grid view »

Pols Sending TARP Funds
to Home State Banks

Frank, others pull strings for bailout funds

Jan 22, 09 9:13 AM CST
(Newser) - Only healthy banks are supposed to get TARP funds, and OneUnited Bank in Boston is not a healthy bank. So why did it wind up pocketing a $12 million infusion from the Treasury? Because powerful Massachusetts Rep. Barney Frank interceded for it, the Wall Street Journal reports. Bankers, regulators,... More »

MORE ABOUT:
Henry Paulson • Massachusetts • bank • Alabama • Barney Frank • bailout • Troubled Asset Relief Program • financial crisis • TARP

 Nationalization Looms for 
 Royal Bank of Scotland 

Lack of faith in government's bank bailout plans sparks investor stampede

Jan 20, 09 4:51 AM CST
(Newser) - One of Britain's biggest banks is on the verge of nationalization, reports the Daily Telegraph. The Royal Bank of Scotland's shares plummeted more than 65% yesterday after it revealed massive losses of $56 billion for 2008—the highest in British history. The government has upped its stake in the bank... More »

MORE ABOUT:
United Kingdom • Royal Bank of Scotland • nationalization • bank • Britain • bailout • financial crisis

 Smarting, Credit Card 
 Companies Cut Rewards 

That airline ticket won't be so easily obtained in recession

Jan 13, 09 4:00 PM CST
(Newser) - Smarting from the sour economy, many credit-card companies are cutting back on rewards programs born out of 1980s excesses, USA Today reports. The cutbacks are akin to moves made by the airline industry last year as fuel prices skyrocketed. “You’re going to see more and more of the... More »

MORE ABOUT:
recession • bank • American Express • credit card • Discover • JPMorgan Chase • financial crisis • rewards • rewards programs

Wreck of IndyMac Sold
for $13.9B

Soros, Dell among the players in FDIC's damaged-goods sale

Jan 3, 09 8:41 AM CST
(Newser) - A team of high-profile investors has bought the remains of failed bank IndyMac from the FDIC for $13.9 billion, the Wall Street Journal reports. The investors, including George Soros and computer tycoon Michael Dell, have agreed to share the losses from IndyMac's portfolio of troubled mortgages in a deal... More »

MORE ABOUT:
private equity • J. C. Flowers • bank • Michael Dell • IndyMac • George Soros • FDIC • subprime crisis • bank failure • financial crisis

Shoppers Go Whole Hog for Piggy Banks

Newly frugal consumers use little pink pals to help save

Jan 1, 09 12:08 PM CST
(Newser) - Piggy banks have been flying off the shelves this holiday season, reports Reuters. Newly frugal consumers see the pigs as symbolic of the need to save, retailers say. The savings rate across America has shot up from zero to 2.8% as worried households start to sock away cash—although... More »

MORE ABOUT:
recession • bank • US economy • savings • coins

 GM Finance 
 Arm Converts, 
 Will Tap Bailout 

Fed approves GMAC's request to become bank-holding company

Dec 24, 08 4:43 PM CST
(Newser) - The Federal Reserve today approved a request by General Motors’ financial arm to become a bank-holding company so it can petition for money from the $700 billion bailout pot, the Wall Street Journal reports. GMAC would also have access to direct Fed loans, helping loosen credit and complement the $17.... More »

MORE ABOUT:
Chrysler • Cerberus Capital Management • Federal Reserve • General Motors • bank • auto industry • GMAC • financial crisis • Wall Street bailout • auto bailout

OPINION

 Hey, Gen-Xers, 
 Housing Mess 
 Is Your Fault  

They borrowed too much to avoid fractured family of their youth

Dec 23, 08 5:30 PM CST
(Newser) - Stung by the divorces and TV dinners of their youth, Gen-Xers spent whatever it took to make a happy home for themselves and their kids—even when they couldn't afford it, writes Susan Gregory Thomas in Babble. OK, that may be "harsh and exaggerated," she notes. But from... More »

MORE ABOUT:
divorce • yuppies • children • mortgage • housing • bank • Generation X • financial crisis • refinancing

Britain Now Owns Majority Share of RBS

Failed rights issue leaves banking giant in taxpayer hands

Nov 28, 08 6:44 AM CST
(Newser) - The Royal Bank of Scotland, one of the giants of British banking, confirmed today that taxpayers now own a majority share following a $30 billion government bailout, reports the Guardian. The country's No. 2 bank failed to raise sufficient cash via a $22.5 billion rights issue, with only 1... More »

MORE ABOUT:
United Kingdom • Royal Bank of Scotland • bank • Britain • stock offering • bailout

 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 »

MORE ABOUT:
Citigroup • bank • Citibank • bailout • bank failure • rescue package • financial crisis

(Newser) - Citigroup plans to slash more than 50,000 jobs, roughly 14% of its workforce, the company announced today, in an effort to shed expenses during the economic downturn. The cuts are in addition to the 23,000 heads that have already rolled this year, Bloomberg reports. Citi stock fell 19%... More »

MORE ABOUT:
Citigroup • layoffs • bank • unemployment • job cuts • financial sector • financial crisis

Germany, Europe's Largest Economy, in Recession 

Europe's largest economy posts worse-than-expected declines

Nov 13, 08 8:13 AM CST
(Newser) - New figures today confirmed that Germany, Europe's largest economy and the world's top exporter, is in recession. The nation's GDP contracted 0.5% in the third quarter, far worse than predicted and the biggest decline in growth in 12 years. The magnitude of the German contraction pushed the euro down... More »

MORE ABOUT:
Germany • Europe • recession • bank • euro • European Central Bank

AmEx Cleared to Become Commercial Bank

Credit card company can now accept deposits, access emergency Fed funds

Nov 11, 08 2:09 AM CST
(Newser) - The Fed has given credit card giant American Express the all-clear to become a bank holding company in a bid to keep the financial crisis wolves from the door, Marketwatch reports. AmEx can now accept deposits and access the Fed's emergency lending facilities. The central bank waived the normal 30-day... More »

MORE ABOUT:
Federal Reserve • bank • American Express • banking • commercial banks • banking industry

Hackers Get Bank Accounts of Sarko's Dad, Ex-Wife

Investigators now believe thieves may have been politically motivated

Oct 31, 08 3:01 PM CDT
(Newser) - The same hackers who stole small amounts of money from Nicolas Sarkozy’s bank account appear to have gotten into the accounts of his father and first wife as well, the Times of London reports. They didn't steal money but rather set up phony cell-phone accounts. Police initially thought the... More »

MORE ABOUT:
Nicolas Sarkozy • France • bank • savings account • bank fraud • French president • Societe Generale

OPINION

Just Like Mattress-Stuffers, Banks Hoard Bailout Cash

Recovery a long way off

Oct 21, 08 10:00 AM CDT
(Newser) - Wall Street may be cheering for the bailout, but Andrew Ross Sorkin knows what the banks are really doing with our $250 billion: “They have stuffed it under their mattresses like the rest of us,” he writes in the New York Times. Consumers will find it almost... More »

MORE ABOUT:
Henry Paulson • bank • credit market • banking • bailout • financial crisis

Chavez: 'Hola, Comrade Bush'

Irony of White House plans to buy stakes
in banks isn't lost on Venezuelan prez 

Oct 16, 08 6:06 AM CDT
(Newser) - A smirking Hugo Chavez noted the US bank bailout yesterday and duly welcomed George W. Bush to the club of socialist leaders, reports Reuters. Hailing "Comrade Bush" was high praise from the man who has variously referred to his American counterpart as the devil and a drunk, but Chavez... More »

MORE ABOUT:
socialism • nationalization • bank • buyout • Hugo Chávez • George W. Bush • financial crisis

Federal Cash Is Not Welcome at Small Banks

But US will pressure some to accept
it anyway

Oct 15, 08 1:46 PM CDT
(Newser) - The government’s plan to buy $250 billion worth of bank investments was greeted with cheers on Wall Street and in Congress, but with jeers by many bankers, the Washington Post reports. “We don't need a bailout,” said one indignant small-bank chief, “and if other banks... More »

MORE ABOUT:
bank • small business • banking • bailout • financial crisis

US Will Buy Shares in American Banks

G7 agrees on 'aggressive action plan' after emergency finance meeting

Oct 11, 08 5:43 AM CDT
(Newser) - Treasury chief Henry Paulson has announced plans to buy up shares in America's troubled banks, Reuters reports. The government will purchase equity in banks "as soon as possible," using some of the $700 billion approved by Congress to rescue the economy, Paulson said yesterday after a crisis meeting... More »

MORE ABOUT:
Henry Paulson • nationalization • bank • Treasury Department • credit crisis • financial institutions • capital markets • Group of Seven • financial crisis

 Credit Chill Spreads to Russia 

Georgian war spooked foreign investment, destabilized economy

Oct 8, 08 4:31 PM CDT
(Newser) - The credit crisis has officially reached Russia, revealing just how fragile the Russian economy is, BusinessWeek reports. Stocks fell so much this week that the government today suspended both exchanges to stem further loss. But the country's reliance on foreign cash—disappearing as investors flee—is bound to affect more... More »

MORE ABOUT:
Russia • Vladimir Putin • Georgia • finance • bank • investment • credit • credit crisis • economy • financial crisis

UK Buys Up Bank Shares in Radical Bailout

Cost of drastic
rescue package
could top $800B

Oct 8, 08 4:29 AM CDT
(Newser) - The British government will become part owner of the nation's biggest banks with a mammoth $88-billion rescue package for the troubled institutions, the Wall Street Journal reports. Under the plan, swiftly assembled after UK bank stocks plummeted in trading yesterday, the government will purchase non-voting shares in eight of the... More »

MORE ABOUT:
United Kingdom • Barclays • Gordon Brown • bank • credit crisis • Britain • Alistair Darling • bailout • financial crisis

opinion

Sell Those Stocks! Banks
Are Better: Cramer


Oct 6, 08 8:30 PM CDT
(Newser) - The stock market is no place to keep a dollar these days, warned hollering financial guru Jim Cramer today on Mad Money. Another depression is possible and energy woes are likely, he said, so the smart investor will free up money needed in the next 5 years by selling stock.... More »

MORE ABOUT:
stock market • money • bank • Jim Cramer • Mad Money • financial crisis

61 - 80 of 140 Stories | << Prev 1 2 3 4 5 6 7 Next >>


from our news partners