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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

05 Dec 2009 17:23

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Biz: Bank Failure Friday’s still taking victims well into the holidays

  • 130
    banks     have failed so far this year – it’s a good thing we’re in December
  • $12
    billion     the value of AmTrust Bank, the fourth-largest to fail this year source
Posted by Ernie Smith • 0 Comments • Permalink

03 Nov 2009 20:25

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Biz: Bailed-out banks throwing more money at employees this year

  • $117.6 billion in paydays so far in 2009 for eight top bailed-out banks source
Posted by Ernie Smith • 0 Comments • Permalink

20 Oct 2009 09:41

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U.S.: Bailed-out firms in no rush to help the party behind the bailout

  • Having had their hides saved by the Democratic party, it might be suggested that bailed-out firms might try to pat their backs in return in future elections. source
  • However, largely out of fear of further hurting their public image, many bailed-out firms are staying away from a Democratic fundraiser near Wall Street. source
Posted by Ernie Smith • 0 Comments • Permalink

26 Sep 2009 12:11

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Biz: The 2009 bank-closing tally has gone up yet again

  • 95 banks have closed this year, the latest in Georgia source
Posted by Ernie Smith • 0 Comments • Permalink

19 Sep 2009 09:59

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U.S.: Senate minority to Timothy Geithner: Kill TARP. Now.

  • 39 Republican Senators (and one Democrat) want TARP to end source
Posted by Ernie Smith • 0 Comments • Permalink

18 Sep 2009 12:04

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Biz: Daily poll: Changing regulations on employee pay at banks

Posted by Ernie Smith • 0 Comments • Permalink
 

25 Aug 2009 10:06

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Biz, U.S.: Obama’s got Fed Reserve Chair Ben Bernanke’s back

  • As an expert on the causes of the Great Depression, I’m sure Ben never imagined that he would be part of a team responsible for preventing another.
  • President Barack Obama • In a speech this morning confirming that Bernanke would be reappointed to his post as Federal Reserve Chairman. It’s notable in one way – Bernanke’s a Republican, which means Obama’s got a bipartisan feather in his hat – but considering Bernanke’s predecessor, Alan Greenspan, stuck around for multiple administrations, maybe it’s not. But then again, Greenspan didn’t have the mess that Bernanke’s dealing with. Either way, go Ben! • source
Posted by Ernie Smith • 0 Comments • Permalink

03 Aug 2009 10:12

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Biz, U.S.: Local, state economies are sure feeling that stimulus money

  • -8.3% decline in local and state spending during the fourth quarter of 2008 – the height of the economic decline. The first quarter of 2009 also saw declines source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 09:10

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Biz, U.S.: Freddie Mac’s acting CFO found dead in an apparent suicide

  • The circumstances David Kellermann, a 41-year-old Freddie Mac executive who lived in the D.C. metro area, was found dead early this morning at his home in an apparent suicide. Kellermann had long been an executive with the company in various roles, but only became acting Chief Financial Officer last year at the peak of the financial crisis. source
  • The circumstances David Kellermann, a 41-year-old Freddie Mac executive who lived in the D.C. metro area, was found dead early this morning at his home in an apparent suicide. Kellermann had long been an executive with the company in various roles, but only became acting Chief Financial Officer last year at the peak of the financial crisis.
  • Not a fun job Freddie Mac was one of the early victims of the financial crisis. After housing’s freefall hit them hard, the company was taken over by the government in September. They then became a quasi-governmental agency that took on big parts of Obama’s recovery plan. Kellermann became acting CFO around this time. source
Posted by Ernie Smith • 2 Comments • Permalink
 
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