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How much will Dodd-Frank cost the government?
Dodd-Frank is a major piece of reform legislation that affects companies beyond the financial services industry. The big issues since the passage of the law have concerned implementation: the costs
Citigroup to boost dividends?
The government's sale of its remaining 2.4 billion shares of Citigroup ( NYSE: C ) went better than expected, generating $10.5 billion. That goes with $21.3 billion already raised from previous stock sales, $2.2 million in TruPS repayments, $20 billion in Targeted Investment Program Repayment an
TARP a huge success?
The Troubled Asset Relief Program (TARP) has been reviled by many; the public at large continues to see it as a bailout for fat cats that was anything but necessary to stop the spread of financial carnage. But as of now, we have to be willing to consider the possibility that it has been a resoundi
AIG, Treasury agree to exit plan
AIG ( NYSE: AIG ) and the Treasury Department have agreed to a plan to convert $49.1 billion in AIG preferred shares into a whopping 1.66 billion shares of AIG common stock, which the Treasury will then sell to the public. The plan also calls for repaying the New York Fed to remove it as a senio
Returns on big bank TARP investments strong
We've been talking piecemeal about the decent returns the government seems to be racking up when it comes to bailouts of specific firms. Certainly, the government scored some big wins on banks such as Goldman Sachs ( NYSE:GS ), JPMorgan Chase ( NYSE: JPM ) and others, via dividends, warrants s
Primerica IPO bodes well for Citi stock sales
Recall that the government is planning a massive, year-long move to sell its 27 percent stake in Citigroup ( NYSE: C ). Does the recently priced Primerica IPO bode well for the coming stock sale? TheStreet.com apparently thinks so. The offering was priced on the high side and raised $320 mil
Ken Lewis charged
There was a lot of chatter when Ken Lewis stepped down as CEO of Bank of America ( BAC ) as to whether a potential enforcement was forcing the board's hand. It turns out that thought was right on the money.
Andrew Cuomo, New York Attorney General, has decided to bring a civil action against
Profitable bank bailouts
There's been a whole lot of public anger about the bailouts of big Wall Street firms. But whether it was wise or not to bail out the top banks, at least it did not cost taxpayers an arm and a leg. In fact, it looks now like taxpayers got a pretty decent return on their "investment" in banks.
United States reaps profits from sale of warrants
It was widely known that Goldman Sachs ( GS ) bought back the warrants it issued the government as part of the bailout at a profit. But it was unclear just how profitable the deal was for the government. It was also unclear if the sales of warrants by other banks represented a good deal for the
When will AIG cut government ties?
Now that Bank of America ( BAC ), Citi ( C ) and Wells Fargo ( WFC ) have extricated themselves from TARP and are basically off the public dole, you might be wondering about that other behemoth known as AIG ( AIG ), which got into so much trouble in the CDS market. The reverberations from
