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Stories tagged: Troubled Asset Relief Program

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 …

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 …

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.

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 …

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.