Bank Bailout | featured news

Freddie Mac reported a surprising profit in the second quarter, but the profit turned to a loss for shareholders after the company paid the U.S. government a $1.1 billion dividend.

The company, reporting its first profit since 2007, said quarterly net income was $1.8 billion.

Fannie Mae plans to tap $11 billion in new government aid after posting another massive quarterly loss as the taxpayer bill from the housing market bust keeps growing.

AP - Morgan Stanley said Wednesday it lost more than $1.2 billion in the second quarter as it took charges to cover continuing losses in its real estate investments and its repayment of government bailout money.

Goldman Sachs earned second-quarter profits of $3.44 billion, continuing a robust turnaround since it rode out the tumultuous final months of 2008 with the help of a federal rescue.

Troubled insurer asks Treasury to rule on several types of executive pay, most of which is owed to embattled derivatives division in March 2010.

American International Group is preparing to pay millions of dollars more in bonuses to several dozen top corporate executives after an earlier round of payments four months ago set off a furor.

Chief executives of some banks that received federal money, including Bank of America Corp, Morgan Stanley and Regions Financial Corp, used company jets for their personal use, the Wall Street Journal reported on its website.

Bank of America Corp has been paying millions in bonuses in order to lure talent and retain investment bankers the company views as vital, the New York Post reported, citing sources.

With the wiring of nearly $10 billion to the Treasury, U.S. Bancorp and BB&T became the first large financial institutions to announce that they have repaid the government in full.