Bailouts, Financial Institution | featured news

Europe has spent hundreds of billions of euros rescuing its banks but may have lost an entire generation of young people in the process, the president of the European Parliament said.

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.

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.

The federal regulator for Fannie Mae and Freddie Mac said it would eliminate performance-based bonuses for senior executives at the two mortgage-finance firms.

Banks earned $13 billion in secret cut-rate loans from the Federal Reserve during the financial crisis, Bloomberg reports... "Many Americans are struggling to understand why banks deserve such preferential treatment while millions of homeowners are being denied assistance and are at increasing risk of foreclosure," Cummings wrote in his letter.

Declaring "We want our money back," President Barack Obama wants to slap a tax on banks to recoup the money that the American public spent on bailing out large financial institutions on the brink of collapse....