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In a reversal, the Bush administration has not used auctions for any of the $335 billion committed so far from the rescue package. Lawmakers and legal experts say the change has effectively repealed the only enforcement mechanism in the law dealing with lavish pay for top executives.
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The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.
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To most Americans, the Federal Reserve is just another name on their dollar bill. They don't know that this central bank controls America's entire economic system. Created with no constitutional authority in 1913, the Fed prints money out of thin air and loans it to the U.S. treasury at interest. What does this lead to? Inflation and debt.
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Ford Motor Co. will tell Congress that it plans to return to a pretax profit or break even in 2011 when the Detroit Three automakers' CEOs appear before lawmakers this week to request $25 billion in government loans. --- I would work for a dollar per year if I got $25 Billion from the government.
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While I no reason to believe “Michael Kelso” from “That 70s Show” is an economic expert he is dead right with the fact that we have been and are being “punked” by the banks and those who are supporting them.
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US clients of bank-to-the-super-rich UBS are planning to take to the courts with an appeal against plans by the Swiss government to reveal details of their once-secret bank accounts to US tax investigators.
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The U.S. government agreed to protect $306 billion of loans and securities on Citigroup Inc.‘s books against losses, as it seeks to shore up investor confidence in the bank.
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Banks will today be warned that the government may take the "nuclear option" and force them into full-scale nationalisation if they fail to resume lending to businesses. In a strongly worded statement, John McFall, the chairman of the Commons treasury select committee, said banks should be "actively lending instead of sitting on their hands...
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JPMorgan Chase & Co., the bank that will receive a $25 billion bailout from the U.S. government, agreed to pay 237 million pounds ($349 million) for land to build a new London headquarters.
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