tarp
Treasury Has Sold Its Last Shares of AIG (and Turned a Profit, Too)
The Treasury Department said Tuesday that it has sold all its remaining shares of AIG, wrapping up the government's biggest bailout of the financial crisis. With this sale, the government has received $22.7 billion more than the $182 billion in support it provided to AIG during the crisis.
Dear President Obama: Sell the Government's GM Stake Now
Dear Mr. President: I know you're proud of the effort made by your team back in 2009 to save General Motors. You should be. But as good as this GM thing has been for you, with the election now over, it's time to let go and direct the Treasury to sell its stake in General Motors.
Uncle Sam's GM Investment Is Still Coming Up Short
The Treasury says it expects to lose more than $25 billion on its bailout of the auto industry -- mostly on its GM investment. But we've also been told GM paid back the Feds. How does this add up, and what has to happen for taxpayers to get their money back?
Bank of America Spoof Site Shows the Joke's on Us (But It's Not Funny)
Prankster activists the "Yes Men" got the better of Bank of America recently, but the facts they highlighted are serious. Despite massive government bailouts, BofA executives are still putting their own interests above those of their customers.
The Taxpayers' $9 Million CEOs: Think of Them As an Investment
News that the Treasury Department had frozen or reduced executive salaries at companies bailed out under TARP prompted a range of reactions, but here's one you probably didn't hear.
Government Motors: Why Won't D.C. Sell Its GM Stock?
Thanks to TARP loans that saved GM, the Treasury ended up with a major stake in the world's largest automaker, and it still holds 500 million shares -- 32% of the company. Here's the reason it won't be selling them any time soon.
Why America Really Hates Goldman Sachs (Hint: It's Not About 'Muppets')
Last week's broadside from an ex-employee didn't help Goldman's image, but all the to-do ignored the public's real issue with the firm.
GM Posts Record Earnings: Is It Ready to Repay Bailout?
2011 was the most profitable year in General Motors' history. Thanks in large part to the $50 billion government-assisted restructuring it received, GM's U.S. operation is in good shape. So is it ready to fully pay back Washington now? Well, that depends on Europe.
UAW Readies for Key Contract Talks
UAW delegates will gather next week in Detroit, as the union works out a strategy to negotiate with domestic automakers for a new four-year contract. The current pact expires in September, and with auto sales rebounding the UAW is eager to win back some concessions.
Bank Bailouts Cost Much Less Than the FDIC Expected
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.
It's Not Too Late to Buy Into the Bullish Stock Market
The S&P 500 has nearly doubled from its post-crash lows, and small investors are finally getting off the sidelines again. Normally, that would be a danger sign for a correction, but right now, all signs point to the upward stock market trend continuing in 2011. Here's why:
Where's an Extra $1 Trillion in Spending Going?
Washington now spends that much more than it did a mere three years ago. But trying to figure out what we're getting for all that extra money is no simple matter. A lot of slicing and dicing does yield some answers -- none of which are very satisfying.
House Votes to End 'Car Czar,' 'Pay Czar' Posts
Republicans in the House of Representatives voted Thursday to eliminate the Obama administration's "car czar," as well as the "pay czar" who oversees compensation at companies bailed out with TARP money, and seven other presidential advisers.
GM and Chrysler Will Pay Bonuses to Salaried Workers
Less than two years after they exited bankruptcy, Chrysler Group and General Motors will soon distribute bonuses to salaried employees in recognition of their efforts to help revive the once-flagging Detroit automakers. The payout is likely to anger the companies' unionized workers.