bailouts
AIG Offers to Buy Back Bad Mortgage Bonds from New York Fed
8:00PM 3/10/2011
AIG is offering $15.7 billion for a heap of toxic mortgage bonds that the Federal Reserve Bank of New York took off its hands at the peak of the financial crisis in 2008. The move is intended to reduce the amount of government money that AIG, the recipient of the largest federal bailout during the financial crisis, holds.
The Millionaire Class: Most New U.S. Senators are Rich
6:30PM 3/09/2011
Approximately 60% of first-year U.S. senators and 40% of House of Representatives freshmen are worth at least $1 million, according to the Center for Responsive Politics. That makes them far richer than most of the Americans they represent: Just 1% of the country's population has reached the $1 million mark.
Number of Troubled Banks Reach 18-Year High
10:00PM 2/23/2011
Economy, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co
The number of federally insured banks at risk of failing rose to 884 -- nearly 12% -- in the last quarter of 2010, reaching the highest level in 18 years.
After Portugal's Bond Sale, Now It's Spain's Turn
5:00AM 1/13/2011
Just a day after a successful bond auction in Portugal, Spain hopes to raise up to $3.9 billion in its first debt auction of the year. The auction will be a key test of investor appetite for European bonds.
AIG Sells Stake in Taiwanese Insurance Company
5:00AM 1/12/2011
Company News, American International Group, Insurance, Market News
In a second attempt to sell its 97.6% stake in Nan Shan Life Insurance, a Taiwanese insurer, American International Group has agreed to a $2.16 billion deal with the Ruen Chen consortium. But regulators nixed another sale agreement just five months ago. Will this deal go through?
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.
Big Wall Street Bonuses Carry a Hidden Cost for Society
9:26AM 12/14/2010
Though most Americans wish that Congress would rein in excessive pay on Wall Street, that won't happen while the huge campaign contributions keep flowing. And the financial industry's big money shell game drains away something more precious from our society than money -- it siphons off talent.
Exit Strategy: AIG's Plan to Repay Taxpayers
5:30PM 12/08/2010
Insurance giant American International Group on Wednesday signed an agreement with the government that details its plan to repay its government loans. Meanwhile, The Wall Street Journal reports that the government plans to sell much of AIG's stock in the next few months.
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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