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Lehman Brothers, an investment bank that date
2 hours ago ago from Dr. Housing Bubble Blog
Lehman Brothers, an investment bank that dates back to 1850, prior to the Civil War has now filed for bankruptcy . A storied institutions that has survived two World Wars, the Great Depression , and practically every other calamity in its 158-year history is no longer solvent. As of 1am on September 15, 2008 the investment bank announced that it would file for Chapter 11 bankruptcy protection. This astonishing news comes during a ...
Related contentBank Of America Has Screwed Taxpayers Again
5 hours ago ago from The Conservative Papers
A few media outlets cheered the announcement that Bank of America was repaying its $45 billion of bailout money ahead of time. Bank of America is now obviously healthy again, so it's time to celebrate, right? Well, no. The main reason Bank of America paid back the money was to get out from under the onerous pay caps that makes it harder to keep its people and attract a new CEO. To make the payment, Bank of America had to take huge ...
Related contentThe Cycle Continues
5 hours ago ago from Blog of Bodnar
What got us into our current economic mess? You'll get different answers depending on who you ask. But if you're asking me I can give you a pretty decent answer. Reckless lending by banks to borrowers that had no business taking out a loan for a home, those banks were pressured by the government in the name of housing fairness. Add that to in-your-face government regulation and taxes, and you've got yourself an economic mess. ...
Related contentBarclays' Lehman assets performing well - Diamond
17 hours ago ago from Lehman Brothers Lotto
Jamie Diamond is such a douchebag NEW YORK, Dec 14 (Reuters) - The assets Barclays Plc acquired from failed investment bank Lehman Brothers (are performing better than expected, Barclays President Bob Diamond said on Monday. U.K. bank Barclays last year bought the U.S. operations of bankrupt Lehman Brothers, which collapsed last September, triggering a credit crisis. Diamond, in a speech in New York, also discussed regulatory efforts ...
Related contentWill Obama Keep His Promise Of Transparency? Cause Id Like To Know Where 2 Trillion In Taxpayer Money Went.?
20 hours ago ago from The Boston 10 - Top Ten Lists of the Best Restaurants, Businesses, Services, and Everything Else You Can Imagine in Boston, MA
Why cant the public be informed of where our money is going? Fed Defies Transparency Aim in Refusal to Identify Bank Loans By Mark Pittman, Bob Ivry and Alison Fitzgerald Nov. 10 (Bloomberg) The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. Fed Chairman Ben S. Bernanke and Treasury Secretary ...
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Citigroup Reaches Deal to Repay Bailout Billions
12 hours ago ago from The New York Times
Citigroup reached a deal early Monday morning to be the last of the big Wall Street banks to exit the government's bailout program, after persuading regulators that it was sound enough to stand on its own. Add to Portfolio Citigroup Inc Go to your Portfolio Citigroup executives announced a broad program that will replace the $20 billion of remaining federal aid with funds from private investors, facilitate the sale ...
Related contentWeather Keeps Some Bankers Away From Obama Talk
8 hours ago ago from The New York Times
WASHINGTON President Obama on Monday called on the chiefs of the nation's biggest banks to take steps to revive lending for small businesses and homeowners, making the case that the fate of banks was inextricably linked to the health of the overall economy. America's banks received extraordinary assistance from American taxpayers to rebuild their industry, Mr. Obama said in remarks after a midday meeting with bankers at the White House. Now ...
Related contentObama, Wall Street bank chiefs butt heads
7 hours ago ago from CNN Money
President Obama talks to Wall Street bankers. Quick Vote How would you describe the Obama administration's policy toward major banks? Too easy Too tough Appropriate A run-down of six of the banks invited to discuss financial reform and lending with President Obama. NEW YORK (CNNMoney.com) -- President Obama pressed Wall Street bankers at ...
Related contentObama pushing bankers on industry overhaul
7 hours ago ago from Media General - TBO.com
WASHINGTON - President Barack Obama is asking bank executives to support his efforts to tighten the U.S. financial industry, while bankers are prepared to tell the president he should stop oversimplifying their concerns if he wants good-faith collaboration. An hourlong meeting between the president, his economic team and the top U.S. financial firms began Monday at the White House. Even before it began, it had the makings of a tense ...
Related contentTARP may end soon, but the battle over banker pay goes on
9 hours ago ago from DailyFinance
While America's biggest banks may still be kicking and screaming about their need to make compensation decisions without interference, the bailouts they took from the government could impact their freedom to hand out excessive cash compensation for years to come. Even the hiring of a CEO for Bank of America ( BAC ) is proving a challenging negotiation, according to a report in the The Wall Street Journal Monday. Bank of New York Mellon ...
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