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Friday, Dec 18
America Plays Shell Game with Bailout Money - Seeking Alpha
America Plays Shell Game with Bailout Money Seeking Alpha (blog) Citibank (C) is planning on paying back $20 billion of the $45 billion in TARP funds that it received last year. In exchange for the $20 billion in ...
Wednesday, Dec 16
US Forfeiting Billions in Future Taxes So Citi Can Exit TARP - Seeking Alpha
Initially Treasury Secretary Hank Paulson did this for Fannie Mae (FNM) and Freddie Mac (FRE) under IRS issue Notice 2008-76 (link below) when they were ... US gave up billions in tax money in deal for Citigroup's bailout repaymentWashington Post
Thursday, Dec 10
The 'Well-Regulated' US Financial Sector? Please! - Seeking Alpha
The 'Well-Regulated' US Financial Sector? Please! Seeking Alpha (blog) This week, the Obama Administration decided to extend the TARP program until next October, while projecting losses from the bailout program at about $141 ... and more »
Sunday, Dec 6
Just Don't Call It a Stimulus - Seeking Alpha
Just Don't Call It a Stimulus Seeking Alpha (blog) House Speaker Nancy Pelosi, D-Calif., said money from the bailout should be used to pay for jobs legislation that would funnel billions of dollars to road, ...
Friday, Dec 4
Bank of America: Get Ready for Dilution - Seeking Alpha
Bank of America: Get Ready for Dilution Seeking Alpha (blog) Looks like Bank of America (BAC) plans to repay $45b of bailout cash to Treasury. Funds they didn't want or need, apparently. But which they plan to pay for ... and more »
Wednesday, Dec 31
Wall Street Breakfast: Must-Know News
GM shifts into high gear after GMAC bailout. General Motors (GM) and its dealers rushed to unveil new financing offers after the Treasury allocated $6B for GMAC (GKM). GM announced it will offer 0% financing on five 2008 models, renewing a practice that was put on hold when GMAC was forced to...
Monday, Dec 22
Wall Street Breakfast: Must-Know News
Reprieve for automakers. General Motors (GM) and Chrysler received word of their long-awaited bailout on Friday, with a White House promise of $13.4B and the possibility of another $4B in February if the firms make progress with their restructuring. More good news for the automakers arri...
Thursday, Dec 18
Wall Street Breakfast: Must-Know News
Slow-motion car crash. President Bush says the auto industry bailout is coming 'relatively soon,' but that may not be soon enough. Chrysler has announced it will shut all 30 of its plants, beginning tomorrow, for at least a month, and is tightening its terms for dealerships. Ford (F) will id...
Friday, Dec 12
Wall Street Breakfast: Must-Know News
Auto bailout runs out of gas. After being fast-tracked through the House of Representatives, a $14B emergency loan package for the auto industry failed to gain traction in the Senate. After talks deteriorated last night, a White House-backed compromise bill was introduced, but fell sho...
Wednesday, Dec 10
Wall Street Breakfast: Must-Know News
Auto update. The House of Representatives could vote on a $15B bailout for the auto industry as early as today, after top Democrats and the White House reached 'an agreement in concept' late last night. If Democrats manage to push a bill through the House, they'll still have to face off with R...
Wednesday, Dec 3
Wall Street Breakfast: Must-Know News
TARP's first report card. In the first full audit of the government's bailout program, the Government Accountability Office [GAO] faulted the Treasury Department for failing to address several critical issues, including how to ensure its efforts were successful. The Treasury was als...
