bank bailout
Why All of Us May Have to Pay for B of A's $5 Debit Card Fee
11:30AM 10/05/2011
Goldman Sachs , Bank of America, Citigroup, Wells Fargo & Co, Banking
Last week, Bank of America ignited a firestorm of controversy by choosing to charge its customers $5 a month to use their debit cards. Now, an angry consumer group has called for a federal investigation. Is this overkill or a smart response to what could be a budding disaster for the bank -- and taxpayers?
What's Really Wrong With Letting Big Banks Pay Bigger Dividends
2:30PM 3/23/2011
Company News, Columns, Economy, Investing, JP Morgan Chase, Bank of America, Credit
The Federal Reserve is finally admitting that not all the big banks are healthy: Bank of America won't get to pay increased dividends. But none of those financial giants should be allowed to, and a logical look at the reasons they say they want to dole out the cash makes it totally clear why.
Given the level of public outrage over the government's rescue of banks during the financial crisis, the final cost to the taxpayer of keeping those failed institutions afloat turns out to have been relatively modest: The FDIC has paid out a mere $8.89 billion to 165 banks since the crisis began.
Why Wall Street Paychecks Dwarf Those of Most Americans
12:50PM 2/02/2011
Columns, Economy, Goldman Sachs , Google , Apple
Why is that so -- when the average worker hasn't enjoyed even a small raise? That's because Wall Street enjoys at least four major advantages that other industries can only dream about, including an implied backstop against losses by the federal government.
Who's to Blame for the Mortgage Mess? Banks, Not Homeowners
6:30AM 1/20/2011
After an exhaustive examination, DailyFinance's legal reporter comes to a clear verdict. Banks have done three things to create the massive glut of foreclosures choking America's legal systems and laying waste to its real estate markets.
Getting to Zero: How Congress Could Balance the Federal Budget
9:30AM 1/18/2011
It took about 10 years of decisions for the federal budget to get more than a trillion dollars out of whack, and it's going to take at least five years to balance it again. The only way to do it is piece-by-piece, with equal sacrifices from both Republicans and Democrats.
Bailed-Out Banks Remain in Danger of Failing: 98 Banks at Risk
7:30PM 12/27/2010
The number of government-aided U.S. banks in danger of failing has grown about 15% in the past six months, The Wall Street Journal has reported. The economy has continued to batter many struggling institutions, with 98 bailed-out banks -- up from 86 in the second quarter -- now at risk.
Ireland's Credit Rating Downgraded Three Notches by Fitch
9:30AM 12/09/2010
Fitch Ratings has downgraded Ireland three notches from A to BBB , citing the costs of restructuring the Irish banking system, the country's weak growth prospects, and uncertainty about its economy due to the deepening financial crisis, despite the international economic assistance it received last month.
U.S. Profit from Citigroup Bailout: $12 Billion
2:15AM 12/07/2010
The Citigroup bailout is officially over: The U.S. Treasury has sold the last of its shares of the bank. Overall, the U.S. government netted $12 billion in profit from the $45 billion bailout.
Treasury Department Selling Off Citigroup Shares
8:00PM 12/06/2010
The U.S. Treasury Department is offering up its remaining Citigroup shares, a move that marks the end of one of the federal government's largest bank bailouts. But the Treasury says it will hold out for an "acceptable price" for the 2.4 billion shares.
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