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The Treasury's $700 billion bailout fund officially expires in two weeks, but not for Neil Barofsky, the top cop for the Troubled Asset Relief Program. He's hiring new staff and opening four regional branch offices to pursue TARP-related fraud cas
Officials from the US Treasury Department are insisting tonight that absolutely no US taxpayer dollars will be put forward to bail out the increasingly unstable Kabul Bank, which has been struggling with a growing bank run over the past week.
The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said. Subsequent offerings of the government's holdings may be profitable
Mahmoud Karzai voiced concern over Kabul Bank's ability to withstand an onslaught of depositors demanding their money back. "America should do something," he said suggesting the Treasury Dept. guarantee the funds of Kabul Bank's clients, who number a
The former chief of Lehman Brothers told a panel investigating the financial crisis that the Wall Street firm could have been rescued, but regulators refused to help even though they later bailed out other big banks.
It wasn’t that long ago that General Motors underwent a US government-bankrolled bankruptcy that all but wiped out its existing shareholders. Now, thirteen months later, General Motors is filing for an initial public offering (IPO). The US and Can
Federal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy.
The 10 banks that received the most bailout aid during the financial crisis spent over $16 million on lobbying efforts in the first half of 2010, as the debate over financial regulatory reform reached its height. Disclosure reports show that the b
Banks will get the biggest benefit from an Obama administration housing program designed to help unemployed homeowners escape foreclosure. Housing experts expressed concern that banks, not homeowners, will be helped by the White House's $3 billion
Mortgage finance giant Freddie Mac said it would need another $1.8 billion in aid from taxpayers, bringing its total request since it was taken over by the government 2 years ago to more than $64 billion. The second largest U.S. residential mortgage
Eager to rid his company of the stigma of being government owned, the chief executive of General Motors, Edward E. Whitacre Jr., said Thursday that G.M. wanted Washington to sell its entire stake during an initial public offering.
Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions. Goldman Sachs disclosed the list of companies to the Senate Finance Committee after a threat of subpoena
The Treasury Dept. failed to consider the economic fallout when it told General Motors and Chrysler to quickly shutter many dealerships as part of government-led bankruptcies, a federal watchdog found. Whether the Obama administration's auto task for
Most Americans are too busy or distracted to realize the world economy now sits on an unprecedented abyss.
Tired of waiting for spending to rebound on its own, retailers are taking matters into their own hands. Wal-Mart's Sam’s Club is introducing a program in which it facilitates loans for shoppers of up to $25,000, backed by the Small Business Administ
MAYBE WALL STREET should open a casino right there on the corner of Broad, because these guys simply cannot lose. After kneecapping the global economy, costing millions their homes and livelihoods, and saddling our grandchildren with massive debt—aft
brownbailout — June 08, 2009 — Why does a company that brings in so much money need a bailout from Congress?
President Obama urged reluctant lawmakers to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid "massive layoffs of teachers, police and firefighters" and to support the still-fragi
Ms. Munna, a 26-year-old graduate of New York University, has nearly $100,000 in student loan debt from her four years in college, and affording the full monthly payments would be a struggle. For much of the time since her 2005 graduation, she’s been
That’s right, we called it. I wrote about it in an article you can see on here a couple of days ago. You can listen to it on my last radio show – the whole first hour. 100 million dollars to democrats from just 2 key unions to get their lapdog democr
Under attack for authoring the Republican strategy to link financial reform legislation to "permanent bailouts" for Wall Street, Frank Luntz claims his widely-publicized memo was merely "defending economic freedom."
During the national furor that erupted last year after American International Group paid more than $165 million in bonuses, the voices of those vilified for receiving the payments remained silent, at least in public. But behind closed doors, empl
If one is alert, it is evident that the Federal Reserve and the U.S. Treasury have disposed of the need for Congressional approval, and have engineered a de facto bailout of Fannie Mae and Freddie Mac, at public expense.
Watch this video about how the FDIC shovels your tax dollars into the pockets of well-connected bankers (as in former Goldman Sachs execs) to bail out failed banks. You might want to have a stiff drink before watching to keep your blood from boiling.
The $8 billion in stimulus cash awarded to 13 high-speed rail corridors across the country may seem like a windfall for advocates, but there's a catch: The money isn't enough to finish any of the major projects. State coffers are dry and federal spen
Treasury Secretary Timothy F. Geithner was sworn in on Wednesday ahead of testifying before the House Committee on Oversight and Government Reform about the collapse and bailout of the insurance company AIG.
A Republican senator said Tuesday that documents showing Federal Reserve Board Chairman Ben Bernake covered up the fact that his staff recommended he not bailout AIG are being kept from the public. And a House Republican charged that a whistleblower
The Federal Reserve Bank of New York may be compelled to hand over documents related to American International Group Inc.’s government bailout after the chairman of a House oversight committee said he will issue a subpoena.
OpenTheGovernment.org has a fantastic section tracking what we know and don’t know about the financial bailout. You’ll find news, documents, links to sites, and more. The Treasury Dept & Federal Reserve are currently fighting court battles in order t
