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Banks getting out from under the federal thumb
19 hours ago ago from Alan Bock\'s Blog
All 9 of the major banks that took money from the federal government under the initial TARP under Bush and Paulsen -- have now either paid the money back or announced plans to do so over the next couple of months. The media have focused on the issue of CEO pay, which the government has vowed to reduce, as a main reason, but that's far from the only reason the banks (some of which never wanted to take the money but were pressured into it by ...
Related contentHead in the Sand: 4 Big Mortgage Backers Swim in Ocean of Debt
23 hours ago ago from Livinglies's Weblog
Editor's Note: Nobody wants to hear it. The housing market is dragging the government and the economic future of this country down the drain. For decades the FDIC has followed a model of dismantling failed banks by letting healthy banks take over the assets. Despite the calls from Sheila Bair at FDIC, we are clearly avoiding the model that works. We have 7,000 banks and credit unions that could easily absorb the accounts of the banks that ...
Related contentBanks Are Lending Even Less. Nice Work, Ben!
18 hours ago ago from Crooks and Liars
But hey, look over there! Ben Bernanke's the Man of the Year! WASHINGTON — The value of loans held by the biggest beneficiaries of the government's bank bailout fell for the ninth consecutive month in October, the Treasury Department reported Tuesday, a day after President Barack Obama criticized top bankers for not doing enough to boost lending. The department's monthly report, which monitors the top 22 recipients of support from the ...
Related contentU.S. outlines conditions for aid to Pakistan
17 hours ago ago from Pakistan Politics
By Sue Pleming WASHINGTON (Reuters) - The Obama administration sought to reassure U.S. lawmakers this week it would demand "maximum accountability" from Pakistan for $7.5 billion in aid and that it had safeguards to ensure funds did not reach extremists. In a report sent by the State Department to congressional committees late on Monday, the administration outlined its priorities for the aid, including water, agriculture and ...
Related contentNobel Laureate: How to Get Out of the Financial Crisis
16 hours ago ago from Finance Helper
The amount of bad news over the past weeks has been bewildering for many people in the world. Stock markets have plunged, banks have stopped lending to one another, and central bankers and treasury secretaries appear daily on television looking worried. Many economists have warned that we are facing the worst economic crisis the world has seen since 1929. The only good news is that oil prices have finally started to come down. While ...
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