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Stories tagged: TARP


Robert Samuelson: Obama stopped economic slide

It is Obama’s unfortunate fate that the high-water mark of his presidency occurred in the first months, when the world flirted with financial calamity.


Former Sterling Financial CEO suing for discrimination

Heidi Stanley, who for two decades helped build Sterling Financial into a Northwest banking powerhouse and rose to chief executive officer, accuses two subordinates of leveraging her struggle with breast …


INB paying off TARP loan

Spokane-based Northwest Bancorporation, the parent company of Inland Northwest Bank, will use $12.5 million it raised recently to pay off the money it received in 2009 from the U.S. Treasury’s …


AmericanWest bank buys Oregon lender

AmercianWest Bank completed its $16.6 million purchase of an Oregon bank this week, adding 32 branches to its network.


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 …


U.S. selling Sterling shares

The U.S. Treasury on Wednesday priced the sale of more than 5 million shares of Sterling Financial Corp. stock, which would net about $113 million in repayment for Troubled Asset …


McMorris Rodgers blasts TARP

Rep. Cathy McMorris Rodgers launched her re-election bid this week with familiar criticism of big-government programs – including one that is widely credited with saving hundreds of good-paying jobs in …


Washington Trust repays TARP debt

Washington Trust Bank has repaid its $110 million TARP obligation to the U.S. Treasury Department. At the same time, the Spokane-based bank borrowed $89.1 million from a different Treasury program …


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.


Caldwell: Bank’s good fortune ultimately hurt it

Cheap capital almost killed AmericanWest Bank. Documents filed with the U.S. Bankruptcy Court on Oct. 27 describe how money raised while the bank was growing snarled efforts to raise new …


Bert Caldwell: Costs high, benefits higher in saving Sterling

The successful recapitalization of Sterling Financial Corp. may well be the best economic news of 2010 for Spokane. Thanks in part to that “bailout” we all say we hate.


Sterling Financial paying millions to new chairman

New Sterling Financial Corp. Chairman Les Biller was paid $1.5 million to accept the position, and will receive a total $4.5 million by Dec. 31, 2012, unless he resigns. Biller’s …


Sterling turns the corner after cease-and-desist order

A new Sterling Financial Corp. management team did not know what would be expected of them in October 2009. Federal and state regulators had forced the board of directors to …


Treasury accepts Sterling discount

The U.S. Treasury will accept a steep markdown of its investment in Sterling Financial Corp. as part of a recapitalization plan, the Spokane company announced Thursday. The markdown was a …


Boston equity firm invests $134.7 million in Sterling

Thomas H. Lee Partners, a Boston private equity firm, will invest $134.7 million in struggling Sterling Financial Corp. as part of the Spokane bank-holding company’s ongoing effort to raise enough …


Administration reduces bailout cost estimate

Treasury Secretary Timothy Geithner is telling Congress that the administration believes the final cost of the government’s heavily criticized financial bailout effort could be as low as $87 billion.


March budget deficit declines to $65.4B

The budget deficit for March showed a dramatic decline as the Obama administration formally entered a lower ultimate cost for the government’s $700 billion financial bailout program.


Bank is bright spot in federal bailouts

NEW YORK – Bank bailouts are turning out to be great business for the government. Unfortunately for taxpayers, other federal rescues will almost certainly wind up in the red. The …


Feds offer Sterling a break to help it stay in business

The U.S. government is giving Sterling Financial Corp. a break on the $303 million the Spokane bank-holding company owes it in an effort to help Sterling attract new investors and …


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 …


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 …


Banks to return bailout money

WASHINGTON – Ten of the nation’s biggest financial companies got a green light Tuesday to return $68 billion in federal bailout money – freeing the banks from limits on executive …