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23 Dec 2009 13:49

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Biz: Wells Fargo: We don’t need your stinkin’ bailout money anymore

  • $25 billion goes back to the government ASAP source
Posted by Ernie Smith • 0 Comments • Permalink

17 Dec 2009 09:39

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Biz: Bank of America’s new CEO: Will this guy be better than the last one?

Brian Moynihan, who came from the inside, will have an easy time besting predecessor Ken Lewis, who drove the company off a cliff. source
Posted by Ernie Smith • 0 Comments • Permalink

11 Dec 2009 15:01

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Biz: Poll: Will legislative attempts to regulate the financial system work?


Posted by Ernie Smith • 0 Comments • Permalink

11 Dec 2009 14:51

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Biz, U.S.: About time: The House passes a financial regulation bill

  • The Senate doesn’t have a comparable one ready yet. Today, the House took the initiative to more strictly regulate the failings of the financial industry – big bonuses, “too big to fail” corporations – at a 223-202 clip. Republicans largely didn’t go for the bill because they feared it would limit credit, force job losses and lead to future bailouts. They also argued that “too big to fail” companies didn’t need hand-holding and could handle bankruptcies, which sounds less like something they believe and more like something they can use against the Democrats. source
Posted by Ernie Smith • 0 Comments • Permalink

07 Dec 2009 09:30

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Biz, U.S.: TARP’s apparently gonna cost a little less. Time to celebrate!

  • $341 billion the original anticipated cost of TARP to taxpayers; that’s pretty huge, right?
  • –$200 billion the amount the government says you can now chop off that number; hooray! source
Posted by Ernie Smith • 0 Comments • Permalink

02 Dec 2009 21:28

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Biz: Bank of America finally ready to give back its massive bailout

  • $45 billion to the feds to de-TARP-ify itself source
Posted by Ernie Smith • 0 Comments • Permalink

01 Dec 2009 20:17

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Biz: We’d like to announce our candidacy for GM’s open CEO position

  • Dear rich people, we think we’d be a perfect fit for you. General Motors has had an incredibly rough last twelve months or so (though they’re recovering). Between a bankruptcy and a watchdog federal government, they’ve had zero room for error. And now their nine-month-old CEO, Frederick “Fritz” Henderson, is retiring. We smell a job opening! Here are three reasons GM should hire us as CEO:
  • Fresh bloodWe’re not the old guard, General Motors. We don’t do (#&@ the old way. In fact, we have no clue what the old way was! When we step into Fritz Henderson’s dusty old office (after having an exterminator go in and check for termites and bailout money), we plan on running the company as if we don’t know what we’re doing. But we do!
  • cars with brevity Here at ShortFormBlog, we know a thing or two about keeping things short and efficient. And we know that the government is on your back about creating more efficient cars. We plan on bringing our blogging technology to General Motors, and we’re going to upgrade the engines from internal combustion to WordPress. Thank us later, guys.
  • Family reunionWe know some of your old workers aren’t happy with you – all those layoffs, the concessions you forced the United Auto Workers to take, the outsourcing – and we plan to make it up to them, using the only method we know how – we’ll move them out of Michigan and put them in a state that isn’t a black hole of depression. Sound fair? source
Posted by Ernie Smith • 3 Comments • Permalink
 

01 Nov 2009 21:23

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Biz, U.S.: Who probably takes the worst of the bankrupt CIT? Taxpayers.

  • $2.3 billion in CIT TARP funds, gone like the wind? source
Posted by Ernie Smith • 0 Comments • Permalink

25 Oct 2009 09:52

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Biz: As bailed-out companies asked for money, execs got PAID in 2008

  • $18 million, on average, for Citigroup and Bank of America execs source
Posted by Ernie Smith • 2 Comments • Permalink

21 Oct 2009 21:51

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Biz: Obama’s pay czar: Pretty unpopular around Wall Street right now

  • 90% of the salaries of highly-paid executives at bailed-out companies will be taken away by pay czar Kenneth Feinberg source
Posted by Ernie Smith • 0 Comments • Permalink
 
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