All Posts Tagged With: "Bailouts"
Ungrateful
They got an extraordinary bailout funded and guaranteed by the taxpayers of the United States of America — they still are — and yet Jamie Dimon of Citibank Chase is whining about regulations from Dodd-Frank:
Americans Are More Like Obama Than Jim DeMint
A new Pew Poll shows Americans prefer candidates who are willing to compromise (44% more likely, 22% less likely, 29% no difference) and who voted yes on health care reform (39% more likely, 35% less likely, 22% no difference). Americans also hate the bank bailouts, 49% are less likely to vote for candidates that supported bailouts with 14% more likely and 32% no difference.
25May2010 | Unstable Isotope | 21 comments | Continued
The Blame Obama Brigade
This weekend seemed to be filled with lots of discussion all over the internet re: Matt Taibbi’s piece giving President Obama’s economic team a not undeserved beat down. I like Taibbi’s writing a lot and the fact that he doesn’t do conventional “objective” reporting doesn’t bother me (but the repetition of bad data does bother me, like the so-called “cost” of all of the bailouts being 23.7 trillion), but I still find it hugely remarkable that there are plenty of people on the left who are very comfortable blaming Obama for not being liberal or progressive enough – as if that is all it would take to get major legislation through Congress.
14Dec2009 | cassandra_m | 116 comments | Continued
GM and Chrysler Not Viable?
McClatchy is reporting that President Obama will announce today that he will not approve additional bailout funds for either car company, saying that they have not yet gone far enough to ensure their long term viability. GM will get 60 days of operating capital to go back to the drawing board and Chrysler will [...]
30Mar2009 | cassandra_m | 14 comments | Continued
GM Prez to Step Down on Eve of Auto Bailout Plan
The questions are already out there as to whether there was an understanding between the Obama Administration and GM that more bailout $$’s were contingent on Wagoner’s resignation:
The move comes on the eve of President Obama unveiling his plan to reinvigorate the U.S. auto industry. Obama and other administration officials have said they would demand [...]
Bailout Companies Owe Federal Taxes
This is choice:
Some top recipients of U.S. bailout money owe the federal government more than $220 million in unpaid taxes, a U.S. lawmaker said on Thursday.
Representative John Lewis, a Democrat who heads the U.S. House of Representatives Ways and Means oversight subcommittee, said 13 bailed-out companies owe the federal government taxes. Two of them owe [...]
Chris Dodd As Fall Guy?
Over the weekend, the story began to bubble up that Chris Dodd may have neutered the Stimulus Bill language restricting the bonus payouts of firms getting bailout funds. I gather that this is the thing on cable news this week, though it wasn’t much on NPR this evening. I was pretty pissed at [...]
19Mar2009 | cassandra_m | 8 comments | Continued
Preferred Stocks
(From The Atlanta Journal Constitution)
11Mar2009 | cassandra_m | 2 comments | Continued
Nationalized Citibank
(Video NSFW people! Turn down your speakers or use earbuds.)
The New F***ing Citibank – watch more funny videos
Funny thing is that I had accounts with these people back in the day, and their operation wasn’t too different from this…..
Geithner Gone by June?
That is the prediction from Chris Whalen talking to The Street.com. So caution is advised. Whalen is a principal of this place and his newsletter has been full of bailout discussions. What interests me here are two things: 1) that resolving AIG and Lehman rids the system of CDS and 2) [...]
7Mar2009 | cassandra_m | 2 comments | Continued
The Stickup Note
On Friday, NPR aired a longish segment (almost 8 minutes) of reporting on bank bailouts via a research note set out by a Deutsche Bank economist:
A single piece of paper may just be one of the most surprising and illuminating documents of the whole banking crisis.
It’s a one-page research note from an economist at Deutsche [...]
Bailout 2.0 Reactions
Read them at your leisure:
Paul Krugman isn’t sure what this says, but he’s working on some optimism. He also recycles a joke that I haven’t heard since the annual Deconstruction Wars at a bookgroup I was addicted to:
What do you get when you cross a Godfather with a deconstructionist? Someone who makes you [...]
11Feb2009 | cassandra_m | 1 comment | Continued
Bailout 2.0
I didn’t get a chance to see Geithner’s press conference talking about the plan to stabilize the banks. But I understand that what was presented was an outline of a plan, with details to be provided as they work them out. (Now I see that they unveiled a new website today — still under [...]
10Feb2009 | cassandra_m | 8 comments | Continued
Question…
Much has been made of Obama’s proposal to cap executive pay. So here’s my question: Do taxpayers have a right to say how their money is spent?
I keep thinking that if you came to me asking to borrow money because you couldn’t pay your mortgage, and I lend you the money, and then you spend that [...]
BoA Bailout Funds Update
The WSJ reports that BoA is close to getting its new bailout funding:
Reeling from previously undisclosed losses from its Merrill Lynch & Co. acquisition, Bank of America Corp. is expected to receive an emergency capital injection of $15 billion from the Treasury, which will also backstop as much as $120 billion of assets at the [...]
Ford Says UAW Not to Blame
(via John Cole). Ford Chairman Bill Ford was on Larry King last night and had this to say:
KING: What about the UAW in all of this?
FORD: Well, the UAW obviously has been our partner through all of this. Have they made mistakes and have we made mistakes? [...]
Letter to Senator Shelby
Last week, Senator Shelby from Alabama spoke out about government subsidies for manufacturing in the US. He is definitely against and thinks that subsidizing manufacturing is French.
The CEO from Compuware writes to the Senator to remind him of the subsidies his state provided for Mercedes Benz:
I am sure you were adamantly against the State [...]
The Myth of $70 Auto Workers
While everyone is debating the Big 3 Bailout, you’ve undoubtedly heard something along the lines that current Big 3 autoworkers are making about $70.00/ hour fully burdened and the automakers in the south are making considerably less. It turns out that $70 figure is wrong:
The average GM assembly-line worker makes about $28 per hour [...]
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