Tag:
Taxpayer Money
Latest Headlines
Latest Headlines
Wholesale credit unions seized by regulators
Credit unions have long held themselves out to be upright, arch-conservative lenders-- throwbacks to a much simpler, safer era in consumer banking. Normal Rockwell would have found credit union executives worthy subjects. But the financial crises has revealed the unsavory side of thrifts.
Acco
School system, banks hit by thieves
We've noted that hackers have trained their weapons on a growing list of targets , which now includes small enterprises and public enterprises. The step-up in activity seems to be continuing.
More modest proposals for PR-challenged banks
You can argue it anyway you like, but it is increasingly clear that the top banks need to acknowledge that they benefited from taxpayer money. The debate can get pretty nuanced, but to dig in now and argue that the banks owe nothing to the public isn't going to fly from a PR point of view. Goldman
Goldman Sachs' risk draws controversy
Goldman Sachs just can't get out of the cross hairs when it comes to its earnings. People are still worked up over its big second quarter--they're either applauding or booing or just scratching their heads. Several members of Congress would like some answers to some pointed questions.
The Ne
More on CIT's core market
CIT is hardly a premiere bank, but it has historically been a big provider of credit to small companies. Unfortunately, as the economy tightened it had to cut back--to the chagrin of small business owners, who could have really used the liquidity.
CIT did more than start-up loans; it extended
Citigroup puts TARP funds to use
The big TARP banks took some PR lumps earlier when it appeared they were not using their TARP funds to expand their lending. Has that changed at Citigroup? The bank's committee overseeing the use of taxpayer money approved $44.75 billion in lending initiatives as of March 31, reports the AP . T
The big picture on stress tests
There's been a lot of news trickling out about the results of the stress tests, and the general view is that the industry is better off than people might have thought. Some banks will need to raise capital but will likely not need more taxpayer money. This group includes Citigroup, Bank of America
AIG's PR posse raises brows
There's been endless talk about what constitutes legitimate spending for companies that have been bailed out with taxpayer money. We've talked about perks, golf, junkets, executive bonuses, broker bonuses, and sports deals. Another one has just been thrown into the mix: PR firms.
Most would ag
The beginning of the end for Ken Lewis?
Bank of America CEO Ken Lewis made headlines again this week, this time by telling the Financial Times that his bank's request for $20 billion in taxpayer money to help it acquire Merrill Lynch was a "tactical mistake" because it made the bank seem as weak as Citigroup. He made the request mor
Citi hardly out of the woods
With the latest attempt by the government to shore up the ailing bank, Citi's future is hardly assured. Analysts continue to urge caution, as it's unclear whether the bank will need yet another round of taxpayer money. This is certainly trying the patience of some politicians.
Bloomberg no
