Financial Industry, Bank Bailout | featured news

AIG will not sue US government

AIG

Insurer AIG says it will not join a $25bn (£16bn) lawsuit against the US government, which alleges that the terms of its rescue deal were unfair.

 

DealBook: U.S. to Sell Last Holdings of A.I.G. Common Stock

The Treasury Department plans to sell its remaining holdings of common stock in the American International Group, essentially ending taxpayers' four-year ownership of the bailed-out insurer.

 

Lack of jobs loosens Democrats' grip on power

Lack of jobs loosens Democrats' grip on power

The sweeping overhaul of the nation's financial industry is President Barack Obama's answer to the nation's outrage over Wall Street bailouts. But come November if more Americans don't have jobs, Democrats in Congress could very well lose theirs, too.

 

Perks unchecked for some CEOs

Some top finance firms that got federal aid also increased fringe benefits for their chief executives.

 

Treasury set to sell Citi shares

Treasury set to sell Citi shares

The Treasury Department said Monday it will begin selling the stake it owns in Citigroup Inc., which could result in a profit to the government of about $7.5 billion. Government received 7.7B shares in exchange for $25B it gave the banking firm during credit crisis.

 

Fannie, Freddie debate heats up

House lawmakers hold their first hearing about how to restructure the mortgage system.

 

Proposal for Bailout Tax on Banks Gains Support

Proposal for Bailout Tax on Banks Gains Support

President Obama’s proposal for a direct tax on banks to pay for future bailouts is gaining momentum in Europe.

 

Big majority wants Wall Street regulation

An overwhelming majority of Americans wants Wall Street subjected to tougher regulation in the aftermath of the bank bailout and the bonus scandals that have rocked the U.S. financial sector, according to a Harris poll released on Thursday.

 

GMAC headed for $5 billion loss

GMAC headed for $5 billion loss

GMAC, the troubled finance company that last week scored a third government bailout, said Tuesday it expects to post a record fourth-quarter loss of $5 billion.

 

Obama blasts banks for opposing financial overhaul

President Barack Obama singled out financial institutions for causing much of the economic tailspin and criticized their opposition to tighter federal oversight of their industry....

 

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