Category Archives: Bailout

Bailout concerns mounting for federal housing agency

By doris | Published: January 4, 2012

Full Story at money.cnn.com NEW YORK (CNNMoney) — Concerns are growing that the Federal Housing Administration will need to be bailed out by taxpayers. The agency’s latest monthly outlook report revealed a spike in serious delinquencies for FHA-insured loans, posing a further threat to the agency’s already depleted cash reserves. According to the report, the [...]

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Bank bailout turns a profit

By doris | Published: March 30, 2011

Full Story at money.cnn.com The bank bailout — part of the Troubled Asset Relief Program — is now $6 billion in the black, a profit that might ultimately rise to $20 billion, according to the Treasury. And that’s nice. But if you look at the whole program, there are still some trouble spots, and not [...]

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AIG: Back in black

By doris | Published: February 24, 2011

Full Story at finance.fotune.cnn.com No need to get your eyes checked. AIG just reported a huge profit. In a sight many of us never thought we’d see, the bailed-out insurer AIG (AIG) returned to the black Thursday, posting an $11 billion profit for the fourth quarter of 2010 and $10 billion in earnings for the [...]

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US, AIG announce plan to end federal stake

By doris | Published: January 15, 2011

Full Story at msnbc.com NEW YORK — The U.S. government and AIG, the giant insurer rescued with $182 billion at the depths of the 2008 financial meltdown, announced a plan Friday to end taxpayer involvement in the company over the next two years. American International Group Inc. paid its $21 billion outstanding balance to the [...]

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GM vs. Ford: Which stock is the better buy?

By doris | Published: January 6, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Perhaps more iconic U.S. companies should consider government-sponsored bankruptcies. Shares of General Motors (GM) are up about 15% since the new GM went public in mid-November. By way of comparison, the S&P 500 and top rival Ford Motor (F, Fortune 500) are both up about 8%.

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GM, Chrysler each to hire 1,000 engineers

By doris | Published: December 1, 2010

Full Story at msnbc.com HAMTRAMCK, Mich. — General Motors and Chrysler, two companies that nearly died last year before getting government bailouts, showed further signs of recovery Tuesday as each announced plans to hire 1,000 engineers and researchers. GM’s hiring will begin immediately and run through the next two years as it adds staff to [...]

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TARP failed Main Street banks

By doris | Published: July 14, 2010

Full Story at money.cnn.com WASHINGTON (CNNMoney.com) — While bailed-out Wall Street is back on its feet and making profits, Main Street banks have gotten little to no boost from taxpayer bailouts, a watchdog panel said Wednesday. The Troubled Asset Relief Program’s help has made little difference for small banks, according to the latest report by [...]

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AIG bailout spared Wall Street, watchdog says

By doris | Published: June 11, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — The federal government could have pressed the private sector to help rescue AIG when the company was on the verge of collapse in September 2008, a government watchdog has found. Instead, it let Wall Street off easy. The government’s $182 billion bailout of the global insurer has [...]

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Senate passes sweeping Wall Street reform

By doris | Published: May 21, 2010

Full Story at money.cnn.com WASHINGTON (CNNMoney.com) — The Senate on Thursday passed the most sweeping regulatory overhaul of the financial system since the New Deal. The bill, which passed 59-39, imposes more oversight and stronger capital cushions for the largest banks and Wall Street firms, while aiming to stop bailouts, shine a light on complex [...]

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FHA’s Florida fiasco

By doris | Published: March 30, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — What the heck happened to the FHA’s loans in Florida? The state dominates the list of troubled metro areas for Federal Housing Administration-insured mortgages. In fact, 16 of the top 25 locales with the highest default rates are in Florida, as of December, with tiny Punta Gorda [...]

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U.S. set to make $8 billion from bailing out Citi

By doris | Published: March 28, 2010

What are they going to do with the money they made from the bailout? They will do something silly and not put it where it is needed. Just at a time they could pay back Social Security  the money they took from it, and now they are in trouble financially.Full Story at msnbc.com Among the [...]

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Senate passes jobs bill for Obama’s signature

By doris | Published: March 18, 2010

Full Story at msnbc.com WASHINGTON – Companies that hire unemployed workers will get a temporary payroll tax holiday under a bill that easily won congressional approval Wednesday in what Democrats hope is just the first of several election-year measures aimed at boosting hiring. The 68-29 bipartisan vote in the Senate sent the legislation to the [...]

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Bailout cop: TARP’s not working

By doris | Published: February 3, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — The watchdog charged with monitoring the government’s $700 billion bailout unleashed one of his harshest criticisms of the program to date, questioning its overall effectiveness. In his latest quarterly report to Congress, special inspector general Neil Barofsky said that the Troubled Asset Relief Program, or TARP, has [...]

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Obama may use bank tax to recoup bailout

By doris | Published: January 12, 2010

Full Story at money.cnn.com New York (CNNMoney.com) — The White House is considering a tax on financial institutions to ensure that taxpayers who bailed out banks get paid back, a senior administration official said Monday. The law that created the $700 billion Troubled Asset Relief Program empowered the president to ask Congress to recoup money [...]

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