bailout money

Bailouts Earn $35 Billion for U.S. Taxpayers

The federal governments bailout program has earned the taxpayer nearly $35 billion in the last two years, The Associated Press said. Income from the Troubled Asset Relief Program (TARP) rose by almost 17% through November compared with the estimate in October, the AP said.

Government Close to Announcing AIG Exit Strategy

The government is close to announcing its plans to end the bailout of American International Group (AIG), returning the company to independence and recovering taxpayer funds. The Treasury is planning to begin converting its $49 billion preferred stake into common stock for sales, Bloomberg News said without naming its sources. The plan could be announced this week.

Can U.S. Recoup Its General Motors Investment?

The U.S. government would have to sell all its shares in General Motors at an average price of $133.78 a share in order to break even on its stake in the company. That%u2019s $39.15 higher than the peak price of the old GM%u2019s shares, in 2000, during the peak of the boom in pick up trucks, The Wall Street Journal said.

Fuld: Regulators Had 'Flawed Information' in Lehman Bankruptcy

U.S. regulators used "flawed information" when they decided not to extend the kind of aid to Lehman Brothers that later went to other financial institutions, the bank%u2019s former CEO Richard Fuld says. Lehman filed for the nation%u2019s largest-ever bankruptcy in September 2008, a move that sparked panic in the financial markets.

Fed Considering Reducing AIG's Credit Line by $3.6 Billion

The Federal Reserve is planning to reduce its credit line to American International Group (AIG) by about $3.6 billion, indicating growing confidence that the insurer can decrease its reliance on the public sector. The terms of AIG%u2019s 2008 rescue indicated that when the company paid down the credit line, it would reduce the amount of credit available, Bloomberg News reported without naming its sources. Last year, the Fed made an exemption on $3.6 billion of money from asset sales. Now it has decided that the relief may not be necessary any more.