How to Steal Billions in Plain View
Posted in Bailout, Banks, Economy, Finance, Government on Jan 16th, 2009
Category Archive for 'Banks'
U.S. Financial System: Mounting Losses, More Bailouts Coming
Posted in Bailout, Banks, Economy, Finance, Government on Jan 14th, 2009
Stocks were getting hammered early Wednesday as a series of events reminded traders the financial crisis is not over:
* Facing mounting losses, Citigroup is abandoning its financial supermarket model, which shouldn’t be a surprise in the wake of Friday’s resignation of Robert Rubin and the sale of Smith Barney to [...]
Where’d The Bailout Billions Go? It’s a Secret
Posted in Bailout, Banks, Finance, Government on Dec 22nd, 2008
After receiving billions in aid from U.S. taxpayers, the nation’s largest banks say they can’t track exactly how they’re spending the money or they simply refuse to discuss it.
“We’ve lent some of it. We’ve not lent some of it. We’ve not given any accounting of, ‘Here’s how we’re doing it,’” said Thomas Kelly, a spokesman [...]
Study Finds $1.6B Went to Bailed-out Bank Execs
Posted in Bailout, Banks, Government on Dec 21st, 2008
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.
The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due [...]