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Stories tagged: bailout

  • Freddie Mac posts $993M profit in 2Q; paying $933M dividend

    Mortgage giant Freddie Mac reported net income of $993 million for the second quarter, down sharply from the same period of 2015.

  • Puerto Rico crisis enters new phase as Obama signs debt bill

    Puerto Rico’s fiscal crisis reached a turning point as President Barack Obama signed bipartisan legislation Thursday that allows the island to escape from debts Wall Street once viewed as ironclad.

  • Michigan governor signs $617 million Detroit schools bailout

    Michigan’s governor signed a $617 million bailout and restructuring plan for Detroit’s public schools on Tuesday, two years after the state committed money to help end the city’s bankruptcy.

  • Euro countries hold first talks on Greek debt measures

    European finance ministers on Monday debated for the first time measures to ease Greece’s massive debt burden amid concern the International Monetary Fund might withdraw from the bailout talks.

  • Puerto Rico skips bond payments, says Congress must help

    Puerto Rican officials say the island’s default on a $422 million bond payment is only the beginning if the U.S. Congress doesn’t help resolve the situation soon.

  • Sizing up TARP: In Lilac City, a Sterling example

    Bailout has become a dirty word. Like most dirty words, it has migrated a long way from any actual meaning and become a verbal cudgel. It might be useful to …

  • Sterling posts $39 million profit

    Sterling Financial Corp. earned a $39.1 million profit in 2011, continuing its turnaround from near-collapse during the height of the nation’s financial crisis. According to financial reports released Wednesday, Sterling’s …

  • House passes event center bailout

    OLYMPIA – The Washington House of Representatives passed a bill that would loan a troubled public facilities district $42 million, but only after limiting the way cities and counties involved …

  • Book Notes: Black set to star in film version of Walter’s ‘Poets’

    Spokane novelist Jess Walter’s latest book, “The Financial Lives of the Poets,” has been picked up as a movie vehicle for Jack Black, retitled “Bailout.” This news came out of …

  • Shawn Vestal: ‘Loan mods’ leave Main Street crumbling

    In April 2009, a Kootenai County homeowner struggling to pay the mortgage got a letter encouraging enrollment in a federal program meant to help people avoid foreclosure. The homeowner called …

  • Treasury: Financial bailout income at $35 billion

    The government’s heavily criticized $700 billion financial rescue program has earned nearly $35 billion in income over the past two years, according to data obtained by The Associated Press.

  • Goldman: Firm has no regrets

    WASHINGTON – A Goldman Sachs executive told an inquiry panel Thursday that the firm had no regrets about collecting billions of dollars in taxpayer money for correctly predicting the demise …

  • Debate hinges on bailouts

    WASHINGTON – The White House and congressional Republicans sparred Wednesday over how to protect taxpayers against “too big to fail” financial institutions, sharply disagreeing on whether legislation backed by President …

  • Small businesses at heart of latest bailout money plans

    WASHINGTON – The Obama administration plans to channel money from the government’s massive financial bailout program to small businesses as part of an effort to limit the political and economic …

  • Geithner: bailout program extended to October

    Treasury Secretary Timothy Geithner told Congress Wednesday that the administration will extend the government’s financial bailout program until next fall, saying it’s needed to protect against fresh economic shocks.

  • Obama turns to leftover bailout funds for jobs help

    WASHINGTON – Under heavy pressure to get Americans back to work, President Barack Obama on Monday suggested using a newly available pot of money left over from the government’s bank …

  • Democrats may tap bailout funds for jobs

    WASHINGTON – Democrats are looking to tap as much as $70 billion in unused funds from the Wall Street bailout to pay for new spending on roads and bridges and …

  • Executive pay targeted

    WASHINGTON – The Obama administration plans to significantly cut the pay of executives at the seven companies that have received the most bailout money, reacting to a growing outcry about …

  • Obama touts Wall Street changes

    President Barack Obama sternly warned Wall Street on Monday against returning to the sort of reckless and unchecked behavior that threatened the nation with a second Great Depression.

  • Bailout’s bottom line

    WASHINGTON – A gaggle of big banks have repaid their loans to the government under the $700 billion financial rescue. Is there a chance taxpayers will eventually recoup the rest …

  • Obama lashes out at AIG’s ‘recklessness’

    WASHINGTON – Joining a wave of public anger, President Barack Obama blistered insurance giant American International Group for “recklessness and greed” Monday and pledged to try to block it from …

  • White House questions viability of GM, Chrysler

    President Barack Obama refused further long-term federal bailouts for General Motors and Chrysler, saying more concessions were needed from unions, creditors and others before they could be approved.

  • AIG execs agree to return millions

    New York Attorney General Andrew Cuomo said Monday that 15 employees who received some of the largest bonuses from American International Group Inc. have agreed to return the more than …

  • Busload of protesters visit AIG execs’ homes

    FAIRFIELD, Conn. – A busload of activists representing working- and middle-class families paid visits Saturday to the lavish homes of American International Group executives to protest the tens of millions …

  • House votes to tax AIG bonuses

    WASHINGTON – Struggling to keep ahead of public outrage, the House of Representatives on Thursday passed a bill to recoup most of the $165 million in bonuses paid to executives …

  • Bailout reduced to offset bonuses

    WASHINGTON – The government will deduct $165 million in proposed aid to bailed-out American International Group Inc. to recoup the cost of bonuses paid to employees of the giant insurer …

  • Obama blasts AIG’s ‘greed’ in paying executive bonuses

    WASHINGTON – Joining a wave of public anger, President Barack Obama blistered insurance giant American International Group for “recklessness and greed” Monday and pledged to try to block it from …

  • Latest AIG bailout likely won’t be last

    WASHINGTON – A new definition of desperate times: Even as the government threw a stunning new $30 billion lifeline to American International Group on Monday, the beleaguered insurance giant confirmed …

  • Wall Street tumbles; Dow closes below 7,000

    NEW YORK — Investors’ despair about financial companies and the recession have brought the Dow Jones industrial average to another unwanted milestone: its first drop below 7,000 in more than …

  • AIG to get another $30 billion, sources say

    WASHINGTON – American International Group will gain access to $30 billion more in taxpayer money as part of another restructuring of its federal bailout, sources involved in the negotiations said …



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