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17 Aug 2009 10:44

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Biz, U.S.: Obama’s pay czar will take back executive pay if he has to

  • Whether I have jurisdiction to decide his compensation or not, we will take a look and decide over the next few weeks.
  • Obama pay czar Kenneth Feinberg • On what he’s considering doing to companies that have been slow to pay back money from the TARP program. Those companies include some of the government’s favorite targets: Citi, AIG, Bank of America, Chrysler Financial, Chrysler, General Motors and GMAC. Basically, two of the country’s biggest banks and the two auto companies that we bailed out. • source
Posted by Ernie Smith • 0 Comments • Permalink

07 Aug 2009 10:02

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Biz, U.S.: More proof the economy’s improving: Even AIG made a profit

  • $1.8 billion amount the company made last quarter after seeing the light at the end of the tunnel source
Posted by Ernie Smith • 0 Comments • Permalink

22 Jul 2009 11:07

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Biz: Morgan Stanley: A big financial firm that’s actually feeling the recession

  • 3 straight quarters of pain and sadness for the financial giant source
Posted by Ernie Smith • 0 Comments • Permalink

20 Jul 2009 11:40

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Biz: CIT Group may get that bailout they were looking for

  • $3 billion in funds from investors to rescue the small-biz lender source
Posted by Ernie Smith • 0 Comments • Permalink

16 Jul 2009 14:32

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Biz: JP Morgan follows the Goldman Sachs route to post-bailout profits

  • $2.7 billion JP Morgan’s profit this quarter, up 36% from a year ago and 27% from the last quarter; as you might guess, investors are giving each other high-fives right now source
Posted by Ernie Smith • 0 Comments • Permalink

13 Jul 2009 09:46

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Biz: At Goldman Sachs, profits are huge, yet inexplicable

  • –$2.12 billion amount Goldman Sachs lost in a single quarter last fall, when they needed bailout help from the government source
Posted by Ernie Smith • 3 Comments • Permalink

10 Jul 2009 09:53

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Biz, U.S.: This car chase is a great metaphor for GM’s bankruptcy emergence

  • Imagine the car Mark Hamill is driving is GM. Imagine the cloud of bankruptcy is the black car. And imagine Annie Potts as the government, yawing its way through the whole emergence from bankruptcy. And keep in mind that this 1978 movie is called “Corvette Summer.” And that this morning, GM finally got rid of the jerk tailing them and got Annie Potts home.source
Posted by Ernie Smith • 3 Comments • Permalink
 

14 Jun 2009 12:11

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Culture, Politics: We’re not bailing out of posting this Michael Moore trailer

  • In case you haven’t heard, Michael Moore is working on an as-yet-untitled movie about the economy. We’re sure good portions of our audience are gonna loooove that. Read the comments on the YouTube page to get an idea.source
Posted by Ernie Smith • 0 Comments • Permalink

11 Jun 2009 10:43

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Biz: Was Bank of America strong-armed into taking on Merrill Lynch?

  • A buncha e-mails say yes. Remember the fun times of about eight months ago, when the economy was going in the basement and all these unlikely mergers of huge financial firms happened? Well, Bank of America’s takeover of Merrill Lynch was one. And according to e-mails between the feds and the firm, they may have been pressured into it by Federal Reserve Chairman Ben Bernanke. After the deal went through, BofA’s shares took a nosedive and the government had to bail them out big time. source
Posted by Ernie Smith • 1 Comment • Permalink

01 Jun 2009 21:12

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Biz, U.S.: Currently on Obama’s plate: Financial industry regulation

  • How do we make sure this never happens again? Re-invent FDIC? Kill the Office of Thrift Supervision? Throw out the rule book? The Obama administration is considering all sorts of MacGyver-like techniques to prevent future financial industry screw-ups. Don’t expect them to combine a bunch of organizations together like a puzzle, though. Obama doesn’t think he’ll get enough political support for that, and even some of his closest colleagues in Congress think it’s a bad idea. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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