The Treasury Department sank billions into auto finance giant GMAC Inc. without an exit strategy or proof the company was viable - a decision that could cost taxpayers $6.3 billion, a new watchdog ...
The Treasury Department sank billions into auto finance giant GMAC Inc. without an exit strategy or proof the company was viable - a decision that could cost taxpayers $6.3 billion, a new watchdog ...
GMAC Didn't Need Bank Status, After All. By Jim Henry Updated on: January 2, 2009 / 10:39 AM / MoneyWatch The net effect is nearly the same, but there's a real twist in the fine print ...
GMAC Wins Bank Status, Which Also Helps GM. By Jim Henry ... GMAC's biggest problem has been its ResCap mortgage subsidiary, which had major investments in subprime mortgages that went bad.
When Congress passed the $700 billion dollar bailout, the whole idea was to buy failed mortgage assets. But once the bill became law on October 3, Henry Paulson's Treasury Department moved quickly ...
The better solution is a simple one: Allow automakers to declare bankruptcy. Contrary to popular belief, that will not mean the end of a company such as GM, which has indicated it may run out of ...
At Bank of New York Mellon Corp., chief executive Robert P. Kelly's stipend for financial planning services came to $66,748, on top of his $975,000 salary and $7.5 million bonus. His car and ...
Treasury prices $5B sale of AIG stock Fed sells toxic AIG assets to European banks AIG to pay all 50 states in $146.5 million settlement "This is a major milestone for the Bank and for the public ...
Citigroup Inc. said Monday it is repaying $20 billion in public bailout money, freeing the banking giant from the close scrutiny and pay restrictions that came with the rescue program. The ...
Pressure on Spain eases, but bailout still likely. ... helped avert a short-term credit crunch by reducing banks' reliance on markets for funding. ... The famed swoosh logo will be on the front of ...
JPMorgan, AmEx Seek To Pay Back Bailout. ... JPMorgan said Monday it plans to raise $5 billion through a common stock offering as it seeks to repay the $25 billion that the bank was awarded under ...
Bailout Money Flows Despite Treasury Claims. ... Treasury's authority to spend more from the $700 billion fund expired on Oct. 3. ... The Pursuing Equity in Mental Health Act of 2019 proposes over ...
Acting at Barack Obama's behest, President George W. Bush on Monday asked Congress for the final $350 billion in the financial bailout fund, effectively ceding economic reins to the president ...
New Rules For Companies Receiving Bailout Funds. By Kevin Hechtkopf ... investments or to programs already announced such as the Capital Purchase Program and the Term Asset-Backed Securities Loan ...
BRUSSELS (AP) - Finance ministers from the 17 countries that use the euro unanimously approved Friday the terms for a bailout loan for Spanish banks of up to euro100 billion ($122.9 billion).
UK Offers Bailout Funds to HSBC, Seven Other Banks. ... Abbey and Standard Chartered will be likely to turn down the equity-raising option. ... (free registration) ...
Bush, Lawmakers Rush Forward Bailout Plan. ... It also would require that the government come up with "a systematic approach for preventing foreclosure" on the mortgages it acquires as part of the ...
Irish seek new EU credit line to ease bailout exit. ... bond buyers to snap up new Irish securities at affordable rates. ... support to ensure that its end to reliance on EU-IMF loans "is a good ...
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