See this at: businessweek.com| Added on 03/09/09

He has harsh words for former Fed Chairman Alan Greenspan, suggests President Barack Obama and his economic team are not up to the task, and thinks tough love is the answer for America.

He has harsh words for former Fed Chairman Alan Greenspan, suggests President Barack Obama and his economic team are not up to the task, and thinks tough love is the answer for America. See less

Highlights: What would I like to see happen? I'd like to see them let these people go bankrupt, let the bankrupt go bankrupt, stop bailing them out. There are plenty of banks in America that saw this coming, that kept their powder dry and have been waiting for the opportunity to go in and take over...

See this at: bloomberg.com| Added on 01/29/09

President Barack Obama promised to impose more restrictions on future bailout money to prevent it from being used for such things as Wall Street bonuses.

President Barack Obama promised to impose more restrictions on future bailout money to prevent it from being used for such things as Wall Street bonuses. See less

Highlights: There has been a “lack of accountability and transparency in how we are managing some of these programs to stabilize the financial system,” Obama said before a meeting with congressional leaders at the White House. Obama cited “the reports that we’ve seen over the last couple of days about...

See this at: edition.cnn.com| Added on 02/05/09

CNN's Randi Kaye reports that getting Wall Street to stop paying out bonuses is harder than you think.

CNN's Randi Kaye reports that getting Wall Street to stop paying out bonuses is harder than you think. See less

See this at: cbsnews.com| Added on 12/25/08

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. The rewards came even at banks where poor results last year foretold... See more

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank performance, but still forked over multimillion-dollar executive pay packages. See less

Highlights: Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the AP review of federal securities documents found. The total amount given to nearly 600 executives would cover bailout...

See this at: news.yahoo.com| Added on 12/25/08

It's something any bank would demand to know before handing out a loan: Where's the money going? But after receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they... See more

It's something any bank would demand to know before handing out a loan: Where's the money going? But after receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they simply refuse to discuss it. "We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to." The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what's the plan for the rest? None of the banks provided specific answers. "We're not providing dollar-in, dollar-out tracking," said Barry Koling, a spokesman for Atlanta, Ga.-based SunTrust Banks Inc., which got $3.5 billion in... See less

See this at: edition.cnn.com| Added on 12/25/08

CNN contacted the banks that were given the biggest chunks of the bailout: Citigroup, JPMorgan Chase, Wells Fargo and Bank of America. The latter received $15 billion as part of the federal Troubled Assets Relief Program (TARP). Where the money went... See more

CNN contacted the banks that were given the biggest chunks of the bailout: Citigroup, JPMorgan Chase, Wells Fargo and Bank of America. The latter received $15 billion as part of the federal Troubled Assets Relief Program (TARP). Where the money went is not clear. "We are using the TARP funds to build our capital and make every good loan that we can," Bank of America said. The bank said it expects to release more information in its fourth quarter earning report. Citigroup, JPMorgan Chase and Wells Fargo each received $25 billion -- the largest amount given to any bank. See less

See this at: money.cnn.com| Added on 12/25/08

The government is dispensing $250 billion to financial institutions as part of the $700 billion bailout plan.

The government is dispensing $250 billion to financial institutions as part of the $700 billion bailout plan. See less

See this at: bailout.uslaw.com| Added on 01/18/09

Crash Proof Author Peter Schiff says Obama’s stimulus plan is another scam. Schiff argues that government spending is slowing the recovery by interfering with his belief that: * The market should decide whether or not we need– and can afford– new... See more

Crash Proof Author Peter Schiff says Obama’s stimulus plan is another scam. Schiff argues that government spending is slowing the recovery by interfering with his belief that: * The market should decide whether or not we need– and can afford– new roads and bridges. * There are far too many financial sector jobs. See less

See this at: washingtonpost.com| Added on 09/26/08

Wall Street economists have mostly endorsed Treasury Secretary Henry M. Paulson Jr.'s plan, or a variation thereof.

Wall Street economists have mostly endorsed Treasury Secretary Henry M. Paulson Jr.'s plan, or a variation thereof. See less

Highlights: But almost 200 academic economists -- who aren't paid by the institutions that could directly benefit from the plan but who also may not have recent practical experience in the markets -- have signed a petition organized by a University of Chicago professor objecting to the plan on the...

See this at: latimesblogs.latimes...| Added on 09/26/08

I do not believe this is the right approach. We did not get into this situation in a matters of days, and we are not going to fix it in a matter of days.

I do not believe this is the right approach. We did not get into this situation in a matters of days, and we are not going to fix it in a matter of days. See less

Highlights: Proponents of the Paulson plan are telling the American people we can solve this problem with a single bill. I don’t believe that is credible. We have a number of interrelated problems that need to be addressed in order of their significance. First, and most urgent, is liquidity. Then we...

See this at: bloomberg.com| Added on 10/05/08

Oct. 4 -- U.S. President George W. Bush signed a $700 billion financial-market rescue plan into law, calling it a ``decisive action to ease the credit crunch that is now threatening our economy.'' The bipartisan legislation was sent yesterday to Bush... See more

Oct. 4 -- U.S. President George W. Bush signed a $700 billion financial-market rescue plan into law, calling it a ``decisive action to ease the credit crunch that is now threatening our economy.'' The bipartisan legislation was sent yesterday to Bush after it was approved by the House, reversing its Sept. 29 rejection of the measure, which had sent global stock markets plunging. The bill, approved on Oct. 1 by the Senate with $149 billion in tax breaks to attract House votes, authorizes the government to buy troubled assets from financial institutions reeling from record home foreclosures. It also affirms regulators' power to suspend asset-valuing rules that companies blame for fueling the crisis. ``This was a difficult vote for many members of the House and Senate, but voting for it was the right choice for America's economy and for taxpayers like you,'' Bush said in his weekly radio address today. ``I appreciate their efforts to help stop the crisis in our financial markets from... See less

Highlights: The House approved the measure 263-171 yesterday, four days after rejecting an earlier version by 228 to 205. The bill's defeat caused a 778-point drop in the Dow Jones Industrial Average, prompting dozens of lawmakers to switch their vote on the package, the government's largest step into...