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Keyword: bailout

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  • A new taxpayer bailout to cover up ObamaCare‚Äôs failure? (Make Pelosi pay for it all?)

    11/22/2015 11:44:55 AM PST · by Libloather · 28 replies
    NY Post ^ | 11/20/15 | Betsy McCaughey
    How dare the Obama administration bail out insurance companies with our money in order to hide ObamaCare's failures. Thursday, just hours after giant insurer UnitedHealthcare said it's losing money selling ObamaCare plans and will likely exit the health exchanges next year, the Obama administration quietly promised to bail out insurers for their losses - using your money. Nearly all insurers are bleeding red ink trying to sell the unworkable plans. Without a bailout, more insurers will abandon ObamaCare, pushing it closer to its demise. A bailout would benefit insurers and the Democratic Party, which is desperate to cover up the...
  • HHS: Bailing out Obamacare insurers an 'obligation' of the federal government

    11/21/2015 4:19:33 AM PST · by SkyPilot · 68 replies
    Washtington Examiner ^ | 20 Nov 15 | Philip Klein
    The Department of Health and Human Services attempted to reassure private insurers on Thursday that they'll be able to recover losses from participating in Obamacare by claiming it was an "obligation" of the U.S. government to bail them out. At issue is a provision within the law known as the risk corridors program. Under the program, which runs from 2014 through 2016, the federal government is to collect money from health insurers doing better than expected and use those funds to provide a federal backstop to other insurers who incur larger than expected losses from rising medical claims. The idea...
  • Republicans Flunk Stress Test On Bank Bailouts: They Forget 2008?

    11/16/2015 6:37:27 AM PST · by SeekAndFind · 12 replies
    IBD ^ | 11/16/2015
    In an otherwise sensible economic debate last week, all the Republican candidates flunked the stress test on bank bailouts. Instead of pledging to end bailouts forever, they said they might do it all over again. This a big problem for the party, because the 2008 taxpayer rescue of the big banks, AIG and investment houses continues to cast a long shadow. Americans still think of the GOP as the party of corporate bailouts. Here's how John Kasich put it: "When a bank is ready to go under, and depositors are getting ready to lose their life savings, you just don't...
  • Treasury Considers Plan to Help Puerto Rico

    10/17/2015 12:40:51 PM PDT · by Lorianne · 34 replies
    New York Times ^ | 14 October 2015 | Michaell Corkery, Mary Williams Walsh
    Officials in the Treasury Department are discussing a radical and aggressive response to the fiscal chaos engulfing Puerto Rico that could involve a broad debt exchange assisted by the federal government. The proposal calls for the federal government to help Puerto Rico collect and account for local tax revenues from the islandís businesses and residents, according to people briefed on the matter who spoke on the condition of anonymity because they were not authorized to publicly discuss the proposal. An inability to collect all the taxes owed is widely seen as contributing to Puerto Ricoís debt crisis. The tax proceeds...
  • Blackmail? Germany Considers Bailout "Concessions" If Greece Keeps More Refugees

    10/16/2015 9:06:48 AM PDT · by SeekAndFind · 5 replies
    Zero Hedge ^ | 10/16/2015 | Tyler Durden
    The European Commission will release Ä2 billion to Greece in the coming days to help the country manage the current migration crisis, a top Commission source told MNI Friday, but as German daily Wirtschaftswoche reports, the German Government is considering 'helping' Greece more financially Ė but only if Athens is more involved in the refugee crisis. The European Commission will release Ä2 billion to Greece in the coming days to help the country manage the current migration crisis and the upgrade its public administration system, a top Commission source told MNI Friday.†The Ä2 billion will be the first disbursement...
  • Carly Fiorinaís $4 Billion Job Scam at Hewlett-Packard (used tax bailout for stock buybacks...)

    09/23/2015 6:11:10 AM PDT · by jimbo123 · 9 replies
    Daily Beast ^ | 9/23/15 | Michael Daly
    As CEO, she lobbied for a tax holiday on corporate profits to create jobs. Instead, the money was used to buy back stock while HP fired 14,500 workers. Had Donald Trump been talking about Carly Fiorinaís essence rather than her appearance, he might have had a point. Not that it should matter one way or the other, Fiorina has an altogether pleasant physical presence, markedly more so than does Trump. But a blind person could see that Fiorina was the very face of corporate greed and income inequality during her five-year tenure as CEO of Hewlett-Packard. Take, for example, the...
  • No Justice for General Motorsí Victims

    09/21/2015 9:25:23 AM PDT · by jazusamo · 11 replies
    NLPC ^ | September 21, 20125 | Mark Modica
    The response of the Justice Department to General Motorsí ignition switch defect cover-up was announced last week. GMís failure to address the deadly defect led to the loss of lives of at least 169 people. Any hopes for the families of the victims that the crony status of GM would not stand in the way of justice were squashed as the company was given a slap on the wrist by its friends at the Obama Administration. The Justice Departmentís news release regarding the meager $900 million penalty reeked of hypocrisy as it tried to paint a picture of a repentant...
  • Trump Evidence Of Voters' Lack Of Trust In Financial Establishment

    09/11/2015 5:12:38 PM PDT · by Lorianne · 9 replies
    Investors Business Daily ^ | 09 September 2015 | Amity Shlaes
    You can pinpoint the moment that financial trust was lost in America: Sept. 17, 2008, the day the government bailed out American Insurance Group after not bailing out Lehman Brothers in the same week. The sheer arbitrariness of the bailout policy was even worse than the fact of the bailouts. And the Obama administration locked in the trend by continuing where President George W. Bush left off. Voter trust did not return after markets picked up in 2009. Here not only the White House is to blame: The Federal Reserve chose to ease monetary policy and continues easy monetary policy...
  • German Parliament Overwhelmingly Approves Greek Bailout

    08/19/2015 4:53:15 AM PDT · by SeekAndFind · 12 replies
    New York Times ^ | 08/19/2015 | Associated Press
    BERLIN ó Germany's parliament overwhelmingly approved a third bailout for Greece on Wednesday, removing a key hurdle to providing new loans to the country and keeping it from defaulting on its debts in as little as 24 hours. The vote's result also seemed to dispel any speculation that Chancellor Angela Merkel would have difficulty getting her conservative bloc to sign on. Lawmakers voted 454-113 in favor, with 18 abstentions. The approval is among the last due from parliaments across Europe, with the Dutch scheduled to vote later Wednesday, after which Greece is expected to get the first installment of its...
  • The Greek Tragedy: A Salutary Lesson to Americans

    08/18/2015 1:11:23 AM PDT · by bob_denard
    The New American ^ | Saturday, 15 August 2015 | Written by Charles Scaliger
    Greeceís third bailout in five years appears to be a done deal. After months of bitter wrangling with creditors and European Union authorities, the Greek government is being thrown yet another financial lifeline weeks after defaulting on a payment owed to the IMF. Greeceís new ruling party, the hardline left wing Syriza Party, led by brash Greek Prime Minister Alexis Tsipras, swept to power at the beginning of the year, promising not to accept any further ďausteritiesĒ (tax hikes, spending cuts, reductions in benefits, and the sale of state-owned assets) from international creditors. But in the end, after seeing their...
  • Puerto Rico bond default deadline is Saturday

    07/28/2015 3:56:18 PM PDT · by jimbo123 · 6 replies
    CNBC ^ | 7/28/15 | Dawn Giel
    As yet another key debt payment date closes in on Puerto Rico, here's a primer on what you should know, and who it will affect the most ahead of the deadline. Q: If the Puerto Rico Public Finance Corporation (PFC) doesn't pay bondholders on Aug. 1, will it be considered a default? A: Yes. According to Moody's vice president and senior credit officer, Ted Hampton, if there is no payment made on Friday, it will be the first default of a U.S. state, or state-like entity, since Arkansas couldn't make its bond payments during the Great Depression in 1933. Q:...
  • WaPo: Germans forcing Greece to accept reforms sort of makes it seem like the Nazis are back, huh?

    07/16/2015 1:15:12 PM PDT · by Sean_Anthony · 17 replies
    Canada Free Press ^ | 07/16/15 | Dan Calabrese
    Greece wildly overcommits in spending on its welfare state, spending the country to the brink of collapse and then failing to live up to the terms of not one but two IMF bailouts, both of which were heavily financed by Germany I donít even know what to do with this. If you ever help anyone with a problem, donít expect to get credit for it from the Washington Post. Because it might be necessary for you to make the recipient of the help shed some bad habits, and if you do that . . . hey, remember how cruel Hitler...
  • Elderly pensioners biggest tragedy in Greek Bailout

    07/13/2015 7:08:47 AM PDT · by Sean_Anthony · 9 replies
    Canada Free Press ^ | 07/13/15 | Judi McLeod
    People have become herds of cattle and statistics to tax-rich governments and bureaucracies Any country whose financial problems leave thousands of elderly pensioners having to queue up in front of banks is an abysmal failure. Any system that doesnít put vulnerable pensioners first is heartless. Governments worldwide and their bureaucracies continue to treat people like cattle. For all of their hype as saviours, the European Union is Łber government. Ditto for the out-of-control United Nations, whose bumper sticker approach of ďsaving humanityĒ is a decades-old farce. People have become herds of cattle and statistics to tax-rich governments and bureaucracies.
  • Greek socialists reluctantly accept IMF Ďmeddlingí in deal to save the country they ruined

    07/13/2015 4:36:24 AM PDT · by Sean_Anthony · 11 replies
    Canada Free Press ^ | 07/13/15 | Dan Calabrese
    If I were negotiating this deal on behalf of the IMF and the EU, one term I would demand is the resignation of the socialist government Itís the third bailout of Greece in five years. Heck, even Chrysler must be appalled at a performance like that. And while weíre still waiting for the details, early reports indicate that Greeceís socialist government had to accept much more stringent terms than the ones they told Greek voters to reject just last week. Itís easy just telling everyone yes to whatever they want until you run out of stuff to give them. Thatís...
  • Why Doesn't Jeb Want to Talk About Lehman Bros? (Begged Carlos Slim for bailout)

    07/09/2015 1:10:34 PM PDT · by jimbo123 · 9 replies
    Fox Business ^ | 7/9/15 | Charlie Gasparino
    <p>Jeb Bush apparently doesnít want people to know that he worked at Lehman Brothers, the now-defunct investment bank whose collapse led to the broader financial meltdown in 2008.</p> <p>Thatís the only conclusion I can come to after receiving a series of occasionally bizarre emails from his press people to what I thought was a fairly simple question about Bushís work before he became a Republican presidential candidate.</p>
  • GM Insiders Dump $2.8 Million Worth of Shares in June

    07/09/2015 9:48:29 AM PDT · by jazusamo · 16 replies
    NLPC ^ | July 9, 2015 | Mark Modica
    It would appear that the insiders at General Motors do not have as rosy a view on the financial outlook for the company as they would have the rest of the public believe. The well-paid executives at GM sold out of another $2.8 million worth of shares in June according to Yahoo Financial statistics. Of course, the sales of shares are pure profits for the higher-ups at GM, considering that the elite group of executives receive millions of dollarsí worth of GM shares for free through stock options. So, what have the highly-paid executives at GM done to earn...
  • Jeb Bush and Hillary Clinton support bankruptcy rights for Puerto Rico

    07/07/2015 1:57:54 PM PDT · by jimbo123 · 21 replies
    CNN ^ | 7/7/15 | Heather Long
    Puerto Rico has two very powerful allies in its debt drama: Jeb Bush and Hillary Clinton. Both 2016 presidential candidates support giving Puerto Rico the same legal bankruptcy rights that states have. Puerto Rico's governor has been lobbying hard for the change to help deal with the commonwealth's $73 billion debt. There's a bill in Congress to give Puerto Rico what it wants, but it has no co-sponsors. That's why Bush and Clinton's backing could be key. "I think that Puerto Rico ought to be treated as other states are treated as it relates to restructuring," Bush said during a...
  • Early Returns Show Greeks Reject Terms of E.U. Bailout

    07/05/2015 12:11:53 PM PDT · by SunkenCiv · 61 replies
    New York Times ^ | Sunday, July 5, 2015 | Suzanne Daley
    "I voted with my heart and also my mind," said Marie Triadafillou, who works in transportation logistics and voted yes. "I believe when you are in a union you cannot leave. We say in our country if the sheep leaves the flock it cannot live." ...Martin Schulz, the head of the European Parliament, who had offered at one point to come to Greece to campaign for a yes vote, said on Sunday that Greece would need to prepare to operate without the euro and with a parallel currency if there was a no vote on Sunday. While Greece would remain...
  • China State Official Hints Beijing May Bailout Greece

    07/03/2015 6:57:07 AM PDT · by SeekAndFind · 15 replies
    Zero Hedge ^ | 07/03/2015 | Tyler Durden
    On Monday, after Greek PM Alexis Tsiprasí dramatic referendum call sparked a run on Greek ATMs, grocery stores, and gas stations, we did our part to help ameliorate the situation by sending a subtle message to Athens: Dear Greece, if you want to apply for a loan from the Asian Infrastructure Investment Bank, send an email to: information@aiibank.orgó zerohedge (@zerohedge) June 28, 2015 Indeed, now may be an opportune time to tap Beijing for a few billion given that China officially launched the AIIB this week.†As a reminder, the success of Chinaís AIIB membership drive was a political disaster...
  • Referendum Vote Underway In Greek Parliament - Live Feed

    06/27/2015 4:53:17 PM PDT · by dynachrome · 37 replies
    zero hedge ^ | 6-27-15 | Zero Hedge
  • Eurozone ministers reject Greek bailout extension: sources

    06/27/2015 8:25:22 AM PDT · by Enlightened1 · 13 replies
    urozone finance ministers refused Saturday to extend Greece's bailout programme past June 30 after Athens called a referendum on reform proposals by creditors, sources told AFP. The ministers "rejected an extension of the aid programme" at a meeting in Brussels, hours after Greek Prime Minister Alexis Tsipras called the plebiscite on the bailout proposal for July 5.
  • Greeks fear bank closures ó and possible ĎGrexití ó if deal isnít made at emergency EU summit

    06/21/2015 7:56:25 PM PDT · by canuck_conservative · 25 replies
    National Post [Canada] ^ | Sunday, June 21, 2015 | Matthew Fisher
    Either Greeceís banks will open on Monday and Christos Dranosís butcherís shop will still be in business. Or they wonít and his shop and the countryís ties to the Euro will be in serious peril.... Greeceís banks suffered a Ä4.2 billion ($5.8 billion) run last week ahead of an emergency European Union summit called for Monday in Brussels on the countryís deepening debt crisis and the continuing standoff between Athens and its foreign creditors.... A continuing rush for cash at ATM machines over the weekend suggests that panic has already set in. But beaches and coffee shops in Athens were...
  • Witless Ape Rides Escalator [Trump]

    06/16/2015 1:50:28 PM PDT · by Cincinatus' Wife · 96 replies
    National Review ^ | June 16, 2015 | Kevin D. Williamson
    Donald Trump may be the man America needs. Having been through four bankruptcies, the ridiculous buffoon with the worst taste since Caligula is uniquely positioned to lead the most indebted organization in the history of the human race.The Trump conglomerate is the Argentina of limited-liability companies,having been in bankruptcy as recently as 2009. To be sure,a lot of companies went bankrupt around then. The Trump gang went bankrupt in 2004,too,and in 2001. Before that, Trump was in bankruptcy court back in 1991 when his Taj Mahal casino in Atlantic Cityóthe nationís first casino-cum-strip-club, an aesthetic crime against humanity that is...
  • Donald Trump Donated Heavily To Democrats, Especially During Election Which Put Reid And

    06/16/2015 1:49:13 PM PDT · by SoConPubbie · 137 replies
    The Daily Caller ^ | 06/03/2015 | Chuck Ross
    While it has been an open secret for several years that Donald Trump was once a heavy Democratic donor, a deeper analysis of campaign records shows that the real estate billionaire’s contributions skewed even further left during the 2006 mid-term election, the crucial contest that put Harry Reid and Nancy Pelosi in power and arguably helped pave the way for Barack Obama’s political agenda.Between 1989 and 2010, The Donald gave $314,300 to Democratic groups and candidates and $290,600 to Republicans, according to a Daily Caller analysis of records maintained by the Center for Responsive Politics.But Trump’s donation gap was even...
  • Trump Says He'd 'Win Easily' If He Ran With Oprah

    06/16/2015 1:38:04 PM PDT · by GIdget2004 · 84 replies
    ABC News ^ | 06/16/2015 | Chris Good
    According to Donald Trump, a 2016 ticket of Trump for president and Oprah Winfrey for vice president would be a lock for the White House. "I think Oprah would be great. I'd love to have Oprah," Trump told ABC News. "I think we'd win easily, actually."
  • Trump's Message Will Resonate

    06/16/2015 11:48:40 AM PDT · by Kaslin · 127 replies
    Rush ^ | June 16, 2015 | Rush Limbaugh
    RUSH: Well, well, well, well, Snerdley and I just spent the last half hour sitting here watching Donald Trump's announcement that he's going to run for president, and we were laughing ourselves silly. I mean, it was a howl session. But, at the same time, there's no doubt in my mind -- I'll tell you what this is shaping up to be. For those of you who have the long-term memory and in this for the long game, think Perot. Think Ross Perot. Remember the reaction people had to Ross Perot. And I'm not comparing Trump's speech. Perot got going...
  • Big names back Trump tower (Soros-Trump Flashback)

    06/16/2015 11:03:25 AM PDT · by jimbo123 · 11 replies
    Chicago Tribune ^ | October 28, 2004 | Thomas A. Corfman
    Donald Trump has lined up three New York hedge funds, including money from billionaire George Soros, to invest $160 million in his Chicago skyscraper, a key piece in perhaps the largest construction financing in the city's history, according to real estate sources and public documents. -snip- On Wednesday Trump declined to comment on the financing, emphasizing instead the luxury project's record-breaking sales.
  • In Dramatic Decision Judge Finds Fed Bailout Of AIG Was "Illegal", Government "Violated Federal

    06/15/2015 5:16:28 PM PDT · by Nachum · 24 replies
    Zero Hedge ^ | 6/15/15 | Tyler Durden
    Earlier today, former AIG head Hank Greenberg's long-running legal battle of the US government came to a dramatic end when in a 75-page ruling, U.S. Court of Claims Judge Thomas Wheeler found that Greenberg was indeed correct in claiming the government overstepped its legal boundaries in its "unduly harsh treatment of AIG in comparison to other institutions" which was "misguided and had no legitimate purpose." But because ďthe question is not whether this treatment was inequitable or unfair, but whether the governmentís actions created a legal right of recovery for AIGís shareholders" Wheeler found that Greenberg was not owed any...
  • Judge: Feds overstepped with AIG bailout

    06/15/2015 11:23:35 AM PDT · by Theoria · 11 replies
    The Hill ^ | 15 June 2015 | Peter Schroeder
    A court ruled Monday that the federal government was ďunduly harshĒ in its takeover of AIG during the financial crisis, but refused to award the companyís former head any damages. The ruling draws to a close the high-profile lawsuit against the federal government, brought by Maurice "Hank" Greenberg, the former head of the insurance giant, and other AIG shareholders under the umbrella of Starr International. In his ruling, Judge Thomas Wheeler determined the federal government violated the Constitution by stepping in and effectively seizing the insurance company during the crisis, even if the takeover was intended to save the company...
  • Will Criminal Charges Bring Justice for GM Victims?

    05/27/2015 9:34:08 AM PDT · by jazusamo · 11 replies
    NLPC ^ | May 27, 2015 | Mark Modica
    The New York Times reports that the Justice Department has concluded that there was criminal wrongdoing by General Motors as the company covered-up a deadly ignition switch defect for years. That defect has now been blamed for causing the deaths of at least 104 motorists. While many observers may have been able to come to the conclusion that GM was guilty long before the Justice Departmentís recent epiphany, the bigger question now is, whatís next? GM still faces litigation risks as ongoing lawsuits seek justice for the victimsí families that suffered as a result of GMís criminal actions. Full...
  • Congress Asked to Investigate Whether Obama Administration Delayed GM Ignition Switch Recall

    12/08/2014 10:12:40 AM PST · by jazusamo · 7 replies
    NLPC ^ | December 8, 2014 | Peter Flaherty
    Today, we requested that the House Committee on Oversight & Government Reform undertake an "independent" investigation of the General Motors ignition switch recall delay, in light of newly obtained emails by lawyers suing GM. Those emails suggest that the Treasury may have timed its final sale of GM shares to precede public knowledge of the ignition switch fiasco. They also cast doubt on GM CEO Mary Barra's previous account of what she knew and when she knew it. Here is the text of a letter I sent today to Rep. Jason Chaffetz, in photo, the incoming Chairman of the...
  • In sign of times, hardest-hit Nevada may end foreclosure aid

    05/17/2015 9:26:06 PM PDT · by Olog-hai · 8 replies
    Associated Press ^ | May 17, 2015 8:02 PM EDT | Michelle Rindels
    At its height, Nevada was ground zero for the Great Recession. Unemployment topped 14 percent, the highest in the nation. The state led in per-capita bankruptcy filings. And one in every 10 homes faced foreclosure. But while Nevadaís jobless and foreclosure rates still rank high relative to other states, the raw numbers have plummeted. Lawmakers who agonized about public employee layoffs and an overburdened unemployment insurance fund a few years ago are now fretting about a shortage of teachers and want to implement new taxes worth hundreds of millions of dollars. And in another sign of the times, they want...
  • Carter's Arab Financiers

    12/21/2006 8:52:59 AM PST · by venizelos · 25 replies · 1,781+ views
    The Washington Times ^ | December 21, 2006 | Rachel Ehrenfeld
    To understand what feeds former president Jimmy Carter's anti-Israeli frenzy, look at his early links to Arab business. Between 1976-1977, the Carter family peanut business received a bailout in the form of a $4.6 million, "poorly managed" and highly irregular loan from the National Bank of Georgia (NBG). According to a July 29, 1980 Jack Anderson expose in The Washington Post, the bank's biggest borrower was Mr. Carter, and its chairman at that time was Mr. Carter's confidant, and later his director of the Office of Management and Budget, Bert Lance.
  • Why Should Taxpayers Bail Out Students Buried in Debt?

    04/09/2015 2:10:09 PM PDT · by SeekAndFind · 68 replies
    IBD ^ | 04/09/2015 | JOHN MERLINE
    On Wednesday, National Public Radio had a spot about how some states are reviewing laws on their books that let them yank driver's or professional licenses from those who default on their student loans. To set the story up, the NPR reporter focused on the plight of Clementine Lindley, who recalls how after graduating she had to "decide whether to pay rent, buy food or make her student loan payments" because her debt was so massive. How did Lindley rack up so much debt? NPR doesn't say, but a little sleuthing shows that Lindley got her Bachelor's degree in "Liberal...
  • Mary Barra's Veracity on Trial in GM Lawsuits

    03/24/2015 1:49:32 PM PDT · by jazusamo
    NLPC ^ | March 24, 2015 | Mark Modica
    Depositions for General Motorsí executives, including CEO Mary Barra, will begin in May, according to the Detroit News. The testimonies will be at the center of class-action lawsuits (set for trial in January, 2016) against GM for its ignition switch defect cover-up and are slated to conclude in early October of this year. It will not be the first time Barra has testified under oath about the recall debacle which is now blamed for having caused 74 deaths. Attorneys for plaintiffs now claim they have evidence that GM executives knew about (and covered-up) the defects long before they admitted...
  • US Taxpayers To Fund Ukraine Bailout With Bond Guarantee

    03/20/2015 12:25:34 PM PDT · by tcrlaf · 3 replies
    Zerohedge ^ | 3-20-2015 | Durden
    <p>Last week we reported that as part of the latest "check kiting" bailout scheme, Greek pensioners (and now utility companies) are being raided by the Greek government so that it can repay its debts to the IMF, which in turn would go ahead and fund a part of the recently approved $17.5 billion bailout of Ukraine, which then would have the money to pay its debts to Russia... and the IMF. And, as we also noted, "The only question is how long will it take the current puppet government to syphon off enough funds into various illegal ventures and offshore accounts before the IMF has to step back in a la Greece with bailout #2."</p>
  • Rahm Emanuel's Chicago Nears Fiscal Free Fall

    03/02/2015 4:01:35 PM PST · by raptor22 · 47 replies
    Investor's Business Daily ^ | March 2, 2015 | IBD EDITORIALS
    ities: The problem with socialism, Margaret Thatcher once noted, is you eventually run out of other people's money. In progressive Chicago, that's hit home as Moody's has cut its credit rating to two grades above "junk." Chicago's finances are staggering under the weight of an unfunded pension liability that Moody's Investors Service has estimated at $32 billion, eight times the city's operating revenue. Chicago has a $300 million structural deficit. And Illinois law requires the city to up its 2016 contributions to its police and fire pension funds by $550 million. "This is an unfortunate wake-up call for anyone still...
  • Obamaís Budget Contains a Federal Student Loan Bailout

    02/10/2015 10:01:03 AM PST · by Sean_Anthony · 11 replies
    Canada Free Press ^ | 02/10/15 | Alan Joel
    How did the federal student loan program rack up such massive debt so quickly? Let's take a look at Obama's recent reform efforts and programs to help provide relief to student borrowers. A few days ago, Politico revealed a little gem hidden in the Obama budget: ďIn obscure data tables buried deep in its 2016 budget proposal, the Obama administration revealed this week that its student loan program had a $21.8 billion shortfall last year, apparently the largest ever recorded for any government credit program.Ē Thatís a nearly $22 billion lossófor one program, for one year. Politico described how that...
  • Greece's leaders stun Europe with escalating defiance

    02/09/2015 10:26:07 PM PST · by NRx · 36 replies
    The Telegraph ^ | 09-02-2015 | Ambrose Evans-Pritchard
    Greeceís finance minister Yanis Varoufakis has spelled out the negotiating strategy of the Syriza government with crystal clarity. ďExit from the euro does not even enter into our plans, quite simply because the euro is fragile. It is like a house of cards. If you pull away the Greek card, they all come down,Ē he said. ďDo we really want Europe to break apart? Anybody who is tempted to think it possible to amputate Greece strategically from Europe should be careful. It is very dangerous. Who would be hit after us? Portugal? What would happen to Italy when it discovers...
  • Greece says will not cooperate with troika or seek aid extension

    01/30/2015 11:48:58 AM PST · by tcrlaf · 16 replies
    cnbc ^ | 1-30-2015 | Reuters
    Greece's government will not cooperate with the EU and IMF mission bankrolling the country and will not seek an extension to the bailout program, its finance minister said on Friday. Jeroen Dijsselbloem, head of the euro zone finance ministers' group who is in Athens for talks with the new government, said the two sides would decide what would happen next before the program ends on Feb. 28.
  • Obama Brags About $10 Bil Auto Bailout of GM and Chrysler at a Ford Plant He Helped Idle

    01/07/2015 4:17:07 AM PST · by IBD editorial writer · 17 replies
    Investor's Business Daily ^ | 1/6/2015 | IBD Staff
    Bailouts: President Obama is going to Detroit Wednesday to brag about how he saved the U.S. auto industry. What he's really doing is exposing the folly of his industrial policy. Just days before Obama's planned swing through Detroit, the Treasury Dept. reported that the final taxpayer cost of the auto industry bailout was $9.26 billion. That equals $441 for every single car and light truck that GM and Chrysler have sold since 2009. That's an awfully big price tag for Obama to claim bragging rights over. Maybe the outsized bailout cost explains why Obama will give his talk at an...
  • The 2015 Greek euro drama

    01/05/2015 7:02:09 AM PST · by Tolerance Sucks Rocks · 4 replies
    BBC News ^ | January 5, 2015 | Gavin Hewitt
    It did not take long. The game is very much in play. Greek voters are being bombarded with warnings about what is at stake when they go to the polls on 25 January. There is little that is coded in these messages. When a country has been bailed out to the tune of Ä240bn (£187bn; $286bn) there is no such thing as non-interference in Greece's internal politics. Most of the European political establishment does not want Greece to elect the radical left party Syriza led by Alexis Tsipras. The party is currently narrowly ahead in the polls. Mr Tsipras is...
  • Russiaís central bank to help companies meet debts

    12/24/2014 5:35:30 AM PST · by Olog-hai · 1 replies
    Associated Press ^ | Dec 24, 2014 8:01 AM EST | Vladimir Isachenkov and Nataliya Vasilyeva
    Russiaís central bank on Wednesday launched another initiative to shore up the ruble, offering hard currency loans to help companies and banks service their debts. Stabilizing the ruble, which is one of the worldís worst-performing currencies this year following the slide in oil prices and the sanctions imposed on Russia for its involvement in Ukraine, is a priority for Russiaís monetary authorities. Russiaís largest lender, Sberbank, admitted again that it faced a run last week when the ruble was in freefall and individuals fretted over the value of their deposits. Its chairman, Alexander Torbakhov, conceded to Russian news agencies that...
  • Russia to bail out Trust Bank with up to $530 million

    12/22/2014 11:32:55 AM PST · by Lorianne · 12 replies
    Reuters ^ | 22 December 2014
    Russian mid-sized lender Trust Bank is to receive up to 30 billion rubles ($530 million) from the central bank to stop it going bankrupt in the first bailout of its kind during the current rouble crisis. The central bank also said its Deposit Insurance Agency, responsible for managing crisis-hit lenders, would take over interim supervision of Trust Bank as of Monday. The measures "will make it possible for Trust to continue smooth payments operations. All the bank's clients, including depositors, can use its services as usual", the central bank said in a statement. Trust, which hired actor Bruce Willis as...
  • Did GM Bailout Cost Lives?

    12/15/2014 1:08:59 PM PST · by jazusamo · 5 replies
    NLPC ^ | December 15, 2014 | Mark Modica
    The death toll for General Motors' faulty ignition switch victims continues to rise with the last reported number being 42. There has been speculation that the death count is significantly higher, as safety advocate Clarence Ditlow has written to GM to request an expansion of efforts to uncover victims of accidents resulting from defective GM vehicles. GM has known about the ignition switch defect for years and failed to recall the deadly vehicles for almost five years after the Obama Administration took over the company in June of 2009. President Obama's Auto Task Force guided the company through a...
  • Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For

    12/12/2014 6:25:55 AM PST · by coloradan · 57 replies
    Zerohedge ^ | 12/12/2014 | Zerohedge
    Courtesy of the Cronybus(sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street's blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts. Recall: (more at link)
  • Ukraine Needs Second Bailout, Currency Reserves Drop to Critical Level

    12/08/2014 10:47:42 AM PST · by Kaslin · 14 replies ^ | December 8, 2014 | Mike Shedlock
    On Wednesday I noted the arrival of carpetbaggers in Ukraine. (See Enter the Carpetbaggers: Ukraine's New Finance Minister a US Citizen, New Economy Minister from Lithuania). No carpetbagging mission is ever complete without at least one visit from the IMF. On Friday we learned that Ukraine will be blessed with a second visit from the IMF as its Foreign-Currency Reserves Dip Below $10 Billion. Ukraine’s central bank reported foreign-currency reserves at their lowest for almost a decade, raising pressure on the West to provide more financing to the country being squeezed by Russia. It also presents a dilemma for the...
  • Google billionaires request $539 million federal bailout after spending $1.6 billion of ďstimulusĒ

    12/01/2014 3:36:05 AM PST · by grundle · 10 replies
    wordpress ^ | December 1, 2014 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Google billionaires request $539 million federal bailout after spending $1.6 billion of ‚Äústimulus‚ÄĚ funding on failed solar power¬†project Ivanpah is a solar power company owned by Google, BrightSource Energy, and NRG.In April 2011, as part of Obama‚Äôs ‚Äústimulus,‚ÄĚ Obama gave Ivanpah a $1.6 billion loan guarantee to build a solar power plant.In November 2014, when the plant was up and running, it produced only half as much electricity as what Ivanpah had predicted.Ivanpah blamed this failure on ‚Äúclouds,‚ÄĚ and asked Obama for a $539 million bailout.Google is owned by Larry Page and Sergey Brin. At...
  • The Obama regime is setting the country up for another subprime loan catastrophe

    11/18/2014 10:42:55 AM PST · by SleeperCatcher · 30 replies
    Absolute Rights ^ | 11/18/2014 | Jon Dougherty
    The governmentís subprime lending debacle that came to a head in the form of the Great Recession in 2007 is about to be repeated, thanks to a repeat of conditions by the federal government. Recent newspaper headlines have announced that the Obama regime plans to provide more electricity to the still-lackadaisical housing industry by torquing home lending rules that will once again make it easer for banks to make loans to marginal buyers.
  • Another GM Recall Bombshell Raises More Questions

    11/10/2014 11:00:34 AM PST · by jazusamo · 51 replies
    NLPC ^ | November 10, 2014 | Mark Modica
    The evidence continues to mount that General Motors has been less than transparent, if not outright culpable, regarding its ignition switch recall fiasco. As the death toll mounts (from the original 13 casualties reported by GM to the just revised 32 deaths) for victims involved in crashes of GM vehicles with defective ignition switches, new evidence has emerged that GM actually ordered replacement parts for the defective switches a full two months before they even reported a problem. A Wall Street Journal article published on Sunday unveiled the damning evidence that GM placed an order for half a million replacement...