By Denis Campbell
Steve Rattner is President Obama’s Car Czar. This morning he essentially forces General Motors into a “quick and painless” bankruptcy and the President will announce it from the White House. I love oxy-morons (two words that do not go together). In this case there are three: quick, painless and bankruptcy.
While we’re all grateful [...]
Tag | TARP
Grand Theft Auto Bankruptcy Pension Grab - Bankers Win Again
Posted on 01 June 2009 by Denis Campbell | Comments (0) | Tags: auto czar, bankruptcy, Citibank, ERISA, Geithner, General Moters, Grand Theft Auto, JP Morgan Chase, Nixon, pension, Robert Rubin, Steve Rattner, TARP
Is President Obama Content With 50% Solutions?
Posted on 10 May 2009 by Denis Campbell | Comments (0) | Tags: 50% solution, banks, correspondent's dinner, Duncan (Education), obama, President Obama, Sebelius, TARP
By Denis Campbell
I’m worried. Yes, President Obama rocked the correspondent’s dinner, has deftly aided in the demise of the Republican Party by producing a species threatening outbreak of ‘hoof in mouth’ disease and increased financial and diplomatic confidence around the globe. But what if, as our friend Charley James said, he’s content with only 50% [...]
What Will Happen to Banks that Fail the Stress Test, When You and I Own Wall Street
Posted on 08 May 2009 by Robert Reich | Comments (0) | Tags: banks, capital, Robert Reich, stress tests, TARP
by Robert Reich
The outcome of the “stress tests” will be that the banks needing extra capital will get it from the Treasury. But where will the money come from, now that the TARP fund is almost exhausted and Congress is dead set against providing more bank bailout money? The Treasury will simply swap debt for [...]
Motor City Madness: NCAA Tourney & $18,000 Homes
Posted on 30 March 2009 by Denis Campbell | Comments (0) | Tags: $18000 Homes, $2000 less than my parents paid for a 3-bedroom home in, auto bailout, average home price of just $18000, campaign war-chests of the Congressional leaders, Chairman Rick Wagoner, Chrysler merge with Italian automaker Fiat, Connecticut, Detroit, Final Four, GM, House Financial Services Committee, Michigan State, Motor City Madness, NBC, NCAA Tourney, Political Action Committee funds of senior managers, Pontiac, Pontiac Silver Dome, President Obama bracket favourite North Carolina, regulating it and dealing out TARP funds, TARP, tone-deaf, Troubled Asset Relief Program, US Treasury Department, Villanova
DETROIT March Madness. Win or go home. It’s that simple. 65 teams started two weeks ago. 4 remain and the financially battered city of Detroit will host one of its own (Michigan State) plus Connecticut, Villanova and perennial (and President Obama bracket) favourite North Carolina to play next weekend and determine the national champion of [...]
Second Bank Will Return Bailout Funds
Posted on 03 March 2009 by Denis Campbell | Comments (0) | Tags: Bailout, Capital Purchase Program, executive compensation, Paul Kiel, ProPublica.org, TARP
by Paul Kiel, ProPublica
It’s becoming a trend. Last week, Louisiana’s IberiaBank filed notice with the Treasury Department that it would be returning the government’s $90 million investment. Today, Minnesota’s TCF Financial followed suit, announcing that it would be returning the government’s $361 million investment.
Like IberiaBank, TCF says the strings attached to the money were the dealbreaker. Under the new [...]
The Bailout: The Really Fine Print Is Really, Really Scary
Posted on 25 September 2008 by Charley James | Comments (0) | Tags: 000 outstanding at any one time, 000+, ad nauseum, banks, Bush-Paulson Wall St. bailout, deep thanks for noticing Treasury, Hank can buy up another $700-billion worth of junk to g, Hank Paulson Sweater, HAPASWEAT, he wants to give us a warm and cozy feeling as he pulls, House, If whatever the taxpayers buy turns out to be worth zer, insurance companies, Mother Jones, never-ending bailout, Nomi Prins, other bailed out lenders profit from the crème de la cr, public is left holding an expensive empty sack, Really Fine Print, scary, Sec. 6 of the newly-named Troubled Asset Relief Program, Senate, TARP, The Bailout, the Secretary's authority to purchase mortgage-related, What “at any one time” means when it’s not raining is t
by Charley James
Assuming that the Bush-Paulson Wall St. bailout gets changed drastically by the time it’s passed, we can all tip our hat to Mother Jones. With everyone on the Hill screaming about the power grab Treasury Secretary Henry Paulson is trying to engineer, the magazine’s Nomi Prins deserves a deep thanks for noticing the [...]
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UK Progressive began during the 2008 US Presidential Campaign. It replaced two blogs: "Outside the Boundaries" (dedicated to US/UK Politics and Business) and "Fire the Guru!" an expose of charlatans in the Mind Body Spirit business. It was briefly known as The Vadimus Post from the Latin 'Quo Vadimus' or 'Where Are We Headed?'
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