bailout
(afagen)
—>The huge salaries and bonuses paid to executives of banks and other firms that received government bailout funds have been the subject of a lot of taxpayer rage. The Obama administration listened, and will order pay cuts. More »
—>A new report by the Congressional Oversight Panel — an independent, yet totally powerless, group appointed by the Senate to review the results of the recent government bailouts — states that we'll get a few bucks back from the automakers, but shouldn't count on it to cover our car payments: More »
—>The Wall Street Journal says that Bank of America is interested in paying back a portion of the bailout money it received, with the goal of getting out from under the purview of the salary czar and reduce a "layer of federal involvement in its affairs." More »
—>The NYT says a little less than a year after the economic meltdown, the government is starting to see a profit from banks repaying bailout money. More »
—>Remember those banks that the federal government bailed out because they were "too big to fail?" Well...after mergers and bank takeovers (some encouraged by the government) those banks bailed out because they were "too big to fail" now are much bigger. JP Morgan Chase and Bank of America combined now control more than 20% of all bank deposits in the United States. More »
—>Hey, remember the TARP program? If banks are now paying back TARP funds, then what happened to those toxic assets? Are they sitting in a canyon in Wyoming for the next 10,000 years? Not exactly. More »
—>A hush fell over the AIG conference room on the day that their Worst Company in America 2009 trophy was unveiled. The eyes of every executive in the room sparkled with just a bit of pride. "Well done, everyone," said the man at the head of the table. "But we mustn't rest on our gilded-feces laurels. It's time to begin our work for next year's competition." More »
—>The AP is reporting that Citibank will be raising salaries for certain employees by as much as 50% in order to offset the new bonus restrictions. The company faces the restrictions because it took bailout money. More »
—>Several banks are doing just what they're always bugging customers to do — paying back money that was lent to them. More »
—>It's not just monolithic corporations, financial institutions, state governments and the like that are benefiting from bailout funds. Scam artists stand to make a killing also, the FBI says: More »
