bailout

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EU Agrees to $113B Ireland Bailout

New rules for future emergencies also sketched out

(Newser) - European Union nations agreed today to give $113 billion in bailout loans to Ireland to help it weather the cost of its massive banking crisis, and sketched out new rules for future emergencies in an effort to restore faith in the euro currency. The rescue deal, approved by finance ministers...

Europe Markets in Turmoil Over Debt Worries

New concerns (and rumors) center on Portugal, Spain

(Newser) - Authorities across Europe rejected a report that a Portuguese bailout would cut the risk of Spain needing similar action, the Wall Street Journal reports. A German paper had cited German finance ministers in the matter, but the ministry, Portugal, Spain, and the European Commission all said Portugal wasn’t being...

Spanish Bailout Could Be Too Much for Euro

Nation's collapse represents 'systemic risk' for EU

(Newser) - The eurozone has bailed out troubled member states with success thus far, but Europe now faces a graver economic threat then ever before: the possibility of a major economic collapse in Spain. The busts in Greece and Ireland (and now possibly Portugal) have all been manageable because the economies in...

Bailout of Ireland Looks Likely
 Bailout of Ireland Looks Likely 
Nov 13, 2010 4:36 PM CST

Bailout of Ireland Looks Likely

EU fears a delay will bring another Greece-like crisis

(Newser) - Ireland is under heavy pressure to take a bailout before its financial troubles spread to other members of the European Union, reports the Wall Street Journal . Dublin is balking because of the handcuffs and political embarrassment that would come with it, but EU authorities don't want to a repeat of...

Enough With the Bush Nostalgia
 Enough With the 
 Bush Nostalgia 



michelle malkin
Nov 9, 2010 1:15 PM CST

Enough With the Bush Nostalgia

He did a lot of things wrong, and some Republicans 'haven't forgotten'

(Newser) - With President Obama’s approval ratings in the toilet and George W. Bush’s highly-publicized Decision Points out today, it’s easy to get caught up in a bit of “Bush nostalgia.” And yes, W’s “candor, decency, self-effacement, and clear love of country stand in stark...

Bailed-Out Companies Throw Cash to GOP

Even though Dems led push for TARP

(Newser) - Despite being bailed out by the government—and, in some cases, still owing money to the government—many companies are donating heavily to candidates. And many of those candidates are Republicans, even though it was mostly Democrats who supported the TARP program, the Washington Post reports. The 23 companies that...

Tab for Fannie, Freddie Could Soar to $259B

That would be nearly twice what they've received so far

(Newser) - The government spelled out today just how much the most expensive rescue of the financial crisis will end up costing taxpayers—as much as $259 billion for mortgage buyers Fannie Mae and Freddie Mac. By contrast, the combined bailouts of financial companies and the auto industry have cost taxpayers roughly...

Final Bailout Tab: $29B
 Final Bailout Tab: $29B 
Oct 6, 2010 7:52 AM CDT

Final Bailout Tab: $29B

Bank bailout is highlight of latest accounting

(Newser) - So it's not exactly zero, but the $388 billion the feds dumped into bailouts is going to end up with a final price tag of ... $29 billion, reports the New York Times. Most of Treasury's losses are focused in housing rescues ($46 billion) and the Detroit bailout ($17 billion), while...

AIG Reaches Deal to Repay Government
AIG Reaches Deal to Repay Government
Sep 30, 2010 12:01 PM CDT

AIG Reaches Deal to Repay Government

US will eventually no longer own the company

(Newser) - AIG said today it's reached a deal to repay billions of dollars it received during the credit crisis. The plan could return a profit to taxpayers who footed the bill for AIG's near collapse in September 2008 and will eventually remove the government as majority owner. AIG became a lightning...

AIG Exit Plan Speeds Up Taxpayer Payback

Sale of US shares could start next year

(Newser) - The Treasury and AIG are negotiating a plan that will allow the government to sell off its massive stake in the insurance company and repay taxpayers in full—over several years. Under the plan, the US would convert its $49 billion in preferred shares into common shares, likely increasing the...

US Bailout Funds Aided Foreign Firms

Watchdog says TARP spending aided France, Germany

(Newser) - A big slice of the $700 billion in bailout funds the US poured into the financial system ended up helping foreign companies, according to a report from a congressional watchdog agency. Because the Treasury Department failed to gather enough information on the flow of money, it ended up taking on...

Homeowner Bailout May Be on the Way
Homeowner Bailout
May Be on the Way
hot rumor dept
Aug 5, 2010 2:44 PM CDT

Homeowner Bailout May Be on the Way

Insiders think Fannie and Freddie will forgive mortgage debt

(Newser) - Another enormous bailout may be in the works, this time for underwater homeowners, writes Reuters blogger James Pethokoukis. Rumor has it that the Obama administration will sidestep Congress and order lenders Fannie and Freddie to forgive some of the mortgage debt of Americans who owe more than their homes are...

Eurozone Sets Up $1 Trillion Bailout Fund

Europe hopes 'umbrella' will boost sagging currency

(Newser) - Eurozone nations are setting up a trillion-dollar "umbrella" fund to restore investor confidence and halt the euro's plunge. Finance ministers say the bailout fund will be available to any eurozone nation risking debt default, AP reports. Investors fear Spain or Portugal are likely to follow Greece into needing a...

Flights Grounded, 3 Killed in Greek Strike, Protests

Violence hits Athens just as Berlin weighs $28B loan

(Newser) - Greece was paralyzed by a 24-hour general strike that grounded all air traffic today, and 3 people died in a fire set by protesters trying to storm the parliament, MSNBC reports. Street battles were breaking out in the capital just as Angela Merkel was busy asking the German parliament to...

Republicans Want to Abolish Financial Firemen
Republicans Want to Abolish Financial Firemen
Paul Krugman
Apr 16, 2010 9:08 AM CDT

Republicans Want to Abolish Financial Firemen

McConnell is doing Wall Street's bidding

(Newser) - Mitch McConnell wants to abolish fire departments—they just bail out burning buildings. We won’t get out of this mess until the biggest buildings are allowed to burn! That’s essentially what McConnell’s latest assault on financial reform amounts to, writes Paul Krugman in the New York Times ...

Bailout Tab Plummets; Companies Quick to Repay

Expected costs down from $250B to $89B in past year

(Newser) - The financial bailout is looking a lot less expensive these days: At a projected $250 billion just a year ago, the expected federal bailout tab is now down to $89 billion—less than the government paid for the savings-and-loan crisis 20 years ago. The falling bailout costs come thanks to...

Average CEO Pay Sinks to $9.5M
Average CEO Pay Sinks
to $9.5M
Apr 5, 2010 2:10 AM CDT

Average CEO Pay Sinks to $9.5M

Larry Ellison collect s cool $84M

(Newser) - Pity the poor CEO in this recession: average compensation for the honchos in the largest publicly traded companies in the US has sunk to a mere $9.53 million. That's down 15% over the previous year. Some CEOs have fared decidedly better than others. Oracle CEO Larry Ellsion topped this...

Top F***ing Books About the Financial Crisis

Maybe all the profanity will keep you reading

(Newser) - There are so many books about the financial crisis, how does one choose which to read first? One method: Go for the one with the most instances of the word “f---.” Conveniently enough, Paul Kedrosky has assembled a handy list. Not big on the idea of the f-word...

Financial Reform: 'Punks' Take on Plutocrats
 Financial Reform: 
 'Punks' Take on Plutocrats 
PAUL KRUGMAN
Mar 29, 2010 7:00 AM CDT

Financial Reform: 'Punks' Take on Plutocrats

GOP argument against reform is upside-down, writes Paul Krugman

(Newser) - With financial reform on deck, Senate Republicans are busily figuring out how many "can get away with claiming that war is peace and regulating big banks is doing those big banks a favor," writes Paul Krugman in the New York Times . Alabama's Richard Shelby is portraying efforts to...

Feds Look to Unload Citi Stake, Collect $8B

Dumping 27% stake would be 2nd-largest offering ever

(Newser) - At the time, throwing scads of cash at crumbling banks looked risky. But now it's financial genius as the Obama administration looks to unload its stake in Citigroup—and collect a tidy $8 billion profit in doing so. The transaction, which the Washington Post reports will be the second-largest stock...

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