Archive for the 'Bailouts' Category

Stress Tests Show Banks Need Additional $75B

By Justin Gardner | Related entries in Bailouts, Banks, Money

I don’t think think this comes as a huge surprise, and it’s certainly disheartening. From Wash Post: The government signaled yesterday that its financial rescue efforts may have reached their high-water mark, announcing that the much-anticipated “stress tests” of 19 large banks showed that only one, GMAC, was likely to need additional taxpayer aid and […]

May 8th, 2009 | Permalink| 2 Comments »

GM Lost $6 Billion Last Quarter

By Alan Stewart Carl | Related entries in Bailouts, Business, Cars

Despite all the government assistance and talk of providing more, GM lost $6 billion last quarter with earnings dropping by 47%. GM executives say car buyers are turning away from GM out of concern the company will end up in bankruptcy and won’t honor its warranties. Could the prospect of bankruptcy help force bankruptcy? To […]

May 7th, 2009 | Permalink| 12 Comments »

White House To Newspapers: Evolve Or Die

By Justin Gardner | Related entries in Bailouts, Legislation, Media

Okay, that’s not really what they said, but it’s certainly the net effect. Because there will be no bailout money forthcoming for this industry. More from the AFP: The White House on Monday expressed “concern” and “sadness” over the state of the ailing US newspaper industry, but made clear that a government bailout was not […]

May 4th, 2009 | Permalink| 2 Comments »

Goldman Sachs Turns Profit, Plans To Give Back TARP Funds.

By Justin Gardner | Related entries in Bailouts, Banks, Money

Between Wells Fargo and this news, doesn’t anybody think that this may put a slight damper on those Tea Parties on Wednesday? From MarketWatch: Goldman Sachs Group Inc. said Monday it swung to a profit in the first-quarter compared to the prior period, and announced it has commenced a public offering of $5 billion of […]

April 13th, 2009 | Permalink| 1 Comment »

Wells Fargo Reports Record $3B Profit

By Justin Gardner | Related entries in Bailouts, Banks

And there was much rejoicing… From MarketWatch: NEW YORK (MarketWatch) — Wells Fargo & Co. said Thursday that first-quarter earnings will surge to a record $3 billion, well ahead of analyst forecasts, as loan losses and provisions dropped from the previous difficult quarter and its mortgage business thrived. Wells shares jumped 22% as the bank […]

April 9th, 2009 | Permalink| 5 Comments »

Stress Tests for Wall Street — What About the Billions in off-the-Books Toxic Assets?

By American News Project | Related entries in Bailouts, Banks, Barack, Books, Business, Congress, Corporate Business, D.C., Economic recovery, Economy, Fiscal Responsibility, geithner, Money, News, Obama, Politics, recession, Washington, WTF?

At the center of President Obama’s overhaul strategy for Wall Street are the “stress tests” which will be applied to all financial institutions. But how accurate will the test results be? That will depend on whether the treasury takes off-balance-sheet assets into account, experts say. This is Danielle Ivory, reporting from the American News Project […]

April 6th, 2009 | Permalink| 2 Comments »

New GM CEO Says Bankruptcy Still Possible

By Alan Stewart Carl | Related entries in Bailouts, Cars, Corporate Business

After months of hand-wringing, bailouts and backlash, new GM CEO Fritz Henderson says bankruptcy is still a very real possibility: The company, he said, has until June 1 to accomplish changes sought by the government, or it will be in bankruptcy. The 60-day deadline should be enough time, but if it becomes evident that the […]

March 31st, 2009 | Permalink| 10 Comments »

On Wagoner Being “Forced” Out

By Justin Gardner | Related entries in Bailouts, Barack, Cars, Money

So it’s pretty apparent people are upset that there are different rules for the automakers and banks. Well, I’m not sure what to tell you except the entire economy isn’t leveraged against the health of the Big 3. Yes, they’re vitally important and I think we should continue to help them out, but they don’t […]

March 30th, 2009 | Permalink| No Comments »

Geithner Wants Broader Powers To Seize Non-Banks

By Justin Gardner | Related entries in Bailouts, Business, Money, Regulations, The World, Transparency, Wall Street

And after the AIG mess, I say we give it to him. How we allowed one company to take down the entire system still feels unreal to me. How on earth could we allow that to go down? Crazy, crazy, crazy. But it did happen and we are suffering massive fallout as a result, so […]

March 24th, 2009 | Permalink| 44 Comments »

House Passes Measure to Tax Bonuses

By Alan Stewart Carl | Related entries in Bailouts, House

Given all the press the AIG bonuses have garnered, you’d think our only economic problem was a few nearsighted/greedy execs at one insurance firm. Today, the House took AIG backlash to the next level by passing a bill which would levy heavy taxes on such bonuses. Specifically: The bill would levy a 90 percent tax […]

March 19th, 2009 | Permalink| 5 Comments »