TARP

Stories 101 - 120 | << Prev   Next >>

Banks Get Stress Test Grades
 Banks Get Stress Test Grades 

Banks Get Stress Test Grades

Pandit out at Citi?

(Newser) - The nation's biggest banks will start to learn how they did on the dreaded stress test today, reports the New York Times. Though the public won’t learn the results until May 4, analysts are predicting that many of the 19 banks will have to raise large amounts of new...

Dow Up 128 on Geithner Talk
 Dow Up 128 on Geithner Talk 
MARKETS

Dow Up 128 on Geithner Talk

Banks rally after comments by Treasury secretary, Bank CEOs

(Newser) - Stocks gained today on upbeat comments from Timothy Geithner and the CEOs of Citigroup and US Bancorp, the Wall Street Journal reports. Banks rallied after the Treasury secretary said that the “vast majority” have sufficient capital. The Dow closed up 127.83 at 7,969.56. The Nasdaq rose...

Life Tough for 'TARP Wives'
Life Tough for 'TARP Wives'
OPINION

Life Tough for 'TARP Wives'

While media blitz stresses CEO hubby, spouse pinches those bailout pennies

(Newser) - Things aren’t easy for still-relatively-rich Wall Street execs and their spouses. “I haven’t even looked at spring clothes,” writes an anonymous, self-proclaimed “TARP wife” in Portfolio. “God forbid someone catches me out in something new.” Her husband, like most CEOs, is “scared...

Geithner: $110B Left in TARP War Chest
Geithner: $110B Left in TARP
War Chest
UPDATED

Geithner: $110B Left in TARP War Chest

Treasury won't ask Congress for more; defends slack lending

(Newser) - Some $109.6 billion remains in the government's $700 billion bailout, Treasury Secretary Timothy Geithner today told TARP's congressional oversight chief, Elizabeth Warren. The Treasury sec says that's plenty—he expects banks to repay about $25 billion over the next year, and won't ask Congress for more. Geithner also defended...

20 Crime Probes Launched Into Bailout Fraud

Inspector calls TARP 'inherently vulnerable' to insider trading, abuse

(Newser) - Federal authorities have begun 20 separate investigations into possible fraud, tax violations, insider trading, and other criminal activities surrounding Henry Paulson's $750 billion Troubled Asset Relief Program, reports the Los Angeles Times. It's only the first round of probes, according to the bailout program's inspector general, who called TARP "...

Chrysler Execs Spurn $750M Fed Loan Over Pay Limits

(Newser) - Chrysler's financing arm has turned down a $750 million federal loan in order to skirt limits on executive pay, sources tell the Washington Post. Fearing that an earlier $1.5 billion loan was running out, the Treasury offered Chrysler Financial the extra credit about 2 weeks ago, attaching strict compensation...

Right Can't Stand 'Cranky' TARP Overseer

Liberals love Warren, but financial industry sees an activist

(Newser) - Dr. Phil, Jon Stewart, and liberals everywhere may love her, but Elizabeth Warren is causing an uproar in Washington, Politico reports. Conservatives and financial service lobbyists say the Harvard professor is using her post atop the TARP oversight committee to push an anti-industry agenda, exploring liberal approaches like nationalization and...

Bank Lending Still Down 23% 4 Months After Bailout

Journal says Treasury's tally hides damage

(Newser) - Banks that received taxpayer aid to restart lending are loaning less than they did before the bailout, a Wall Street Journal analysis finds. The most recent figures available, from February, show a 23% drop in new loans from the lending level in October, when the Treasury Department kicked off TARP,...

Fannie Mae CEO Picked as Bailout Chief

Former Merrill Lynch prez to overhaul $700B TARP program

(Newser) - Wall Street veteran and Fannie Mae CEO Herb Allison has been nominated to oversee the Treasury's $700 billion bank rescue, Bloomberg reports. If confirmed by Congress—where he's likely to be grilled on his defending of bonuses at Fannie—Allison will be tasked with deploying the second phase of the...

JPMorgan Chief: I Could Repay TARP Tomorrow

Dimon calls bailout money a 'scarlet letter'

(Newser) - JPMorgan Chase can’t wait to pay back the government’s bailout money, CEO Jamie Dimon said today, after the company posted a better-than-expected $2.1 billion in earnings. The CEO called the funds a “scarlet letter,” Bloomberg reports, and said he was just waiting for the Treasury’...

Skirting Bailout Rules, Banks Send Foreign Hires Abroad

(Newser) - Banks who have taken TARP funds from the government are getting creative about the immigration restrictions that come with the bailout, the Wall Street Journal reports. Financial institutions relying on government assistance cannot hire foreign workers unless they prove that they have exhausted the supply of native talent. So they’...

Feds May Reveal Which Banks Are Weakest

Results of 'stress tests' may go public

(Newser) - The administration may go public with some of its "stress test" results, which diagnose how well the country's 19 biggest banks will weather the financial crisis, insiders tell the Wall Street Journal. The administration has so far been treating all banks equally, but the stronger banks could soon be...

$1.8B Goldman Sachs Profit Shocks Wall St.

Bank plans $5B stock offering to start repaying TARP loan

(Newser) - Goldman Sachs shocked analysts today by announcing a $1.81 billion profit for the first quarter of 2009, the Wall Street Journal reports. “Given the difficult market conditions, we are pleased,” CEO Lloyd Blankfein said. Goldman also announced plans for a $5 billion stock offering that would help...

Economy's 'Free-Fall' Nearly Over: Summers

(Newser) - Top Obama economic adviser Lawrence Summers said today that measures to stabilize the economy will have a discernible effect in the next few months, the Hill reports. Loosening credit and an increased flow of inventory from manufacturers means the sense of “free-fall” will dissipate, though jobless numbers will continue...

US Extends Bailout to Life Insurers

Treasury throwing a lifeline to a third industry

(Newser) - The Treasury Department has decided to give struggling life insurance companies access to federal bailout funds, insiders tell the Wall Street Journal. The industry—which had earlier seemed largely immune to the credit crisis—has been hit hard by stock market and real estate declines, leaving some firms on the...

Bailout Chief Drives a Hard Bargain

TARP CIO Lambright adept at 'high-speed game of chicken'

(Newser) - James Lambright, the man who gets final say over where a lot of the federal bailout money goes, is known at the Treasury, and to an ever-widening circle of executives at America’s biggest companies, as a hard-nosed bargainer, the Wall Street Journal reports. Lambright's self-professed aim is “navigating...

Treasury Helps Companies Skirt Bailout Rules

(Newser) - The Obama administration has devised a maybe-legal method of avoiding Congress’ restrictions on companies that accept bailout funds, including limits on executive pay and a requirement that taxpayers get an ownership stake in the firms, the Washington Post reports. To sidestep the restrictions, the administration has created special entities to...

DC Still Turns Blind Eye to Banks: Spitzer
DC Still Turns Blind Eye to Banks: Spitzer
OPINION

DC Still Turns Blind Eye to Banks: Spitzer

Regulators attempt to save face after failing to prevent crisis

(Newser) - There’s a reason the government seems to have no control—darn the luck—over the banks it’s poured billions into: It’s trying to save face, writes Eliot Spitzer for Slate. Washington has struck a tacit bargain with Wall Street, the ex-governor says: Taxpayers bail out the financial...

Obama Will Meet With Top Bank Execs

(Newser) - Amid growing dissatisfaction with government restrictions on bailout funds, President Obama will meet with bank CEOs on Friday, Reuters reports. Several banks have indicated that they will repay their TARP loans to avoid new government rules. In the meeting with execs from Citigroup, Goldman Sachs and others, Obama will urge...

JPMorgan Spending $138M to Update Swank Jet Fleet

Two Gulfstreams and a new hangar are slated for purchase

(Newser) - JPMorgan Chase, recipient of $25 billion in taxpayer money, is about to be the proud owner of two new luxury private jets and a lavishly renovated Westchester County airport hangar, complete with roof garden, ABC News reports. The $138 million purchase, described as “completely tone deaf” by one watchdog,...

Stories 101 - 120 | << Prev   Next >>
Most Read on Newser