Oil-rich Abu Dhabi pumped $10 billion into its indebted neighbor Monday, sending stocks soaring while sparing Dubai and the rest of the Emirates federation the humiliation of an imminent default by one of the struggling Arab boomtown’s star companies.
The bailout was about more than petrodollar transfers from one United Arab Emirates sheikdom to the other. [...]
Posts Tagged ‘bailout’
Dubai Is Bailed Out By Abu Dhabi
Posted: 14th December 2009 by Veritas in Economy | FinanceTags: abu dhabi, bailout, dubai, Economy | Finance, uae
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Corporations Face Record High Debt Rates
Posted: 29th September 2009 by Veritas in Economy | FinanceTags: auto, bailout, banking, corporat, debt, Obama, wall st
U.S. corporate debt default rates are expected to hit “unprecedented” levels in 2009, even though the economy may be past the halfway mark of the U.S. recession, according to a forecast unveiled on Monday at the Reuters Restructuring Summit.
The U.S. Dollar’s Days May Be Numbered
Posted: 28th September 2009 by Veritas in Economy | Finance, PoliticsTags: bailout, capital, credit, currency, debt, dollar, Economy // Finance, job, reserve, stimulus
A pledge from Group of 20 leaders to bring the global economy back into balance is not seen as good for the dollar in the long run, underscoring its anemic performance in recent weeks.
Bailout Total = $23.7 Trillion…or $80k per Citizen
Posted: 21st July 2009 by Veritas in Economy | FinanceTags: bailout, debt, fed, goldman sachs, loan, Obama, paulson, ron paul, tarp, treasury
According to the watchdog overseeing the federal government’s financial bailout program, the full exposure since 2007 amounts to a whopping $23.7 trillion dollars, or $80,000 for every American citizen.
Banks Send Up Red Flags to Cover Red Ink
Posted: 17th July 2009 by Veritas in Economy | FinanceTags: America, bailout, bank, Citi, credit, Recession, tarp
NEW YORK – Bank of America Corp and Citigroup Inc raised huge red flags on Friday with quarterly results that suggested the U.S. consumer remains sorely injured as the global recession drags on.
Both Bank of America, the largest U.S. bank, and Citigroup, No. 3, reported big increases in delinquencies among credit card customers and warned [...]
Obama Contemplates Diverting Bailout Money to Small Businesses
Posted: 14th July 2009 by Veritas in Economy | Finance, PoliticsTags: bailout, bank, business, geithner, Obama
WASHINGTON – The Obama administration is considering a plan to help small businesses through the economic downturn by diverting some of the billions of dollars approved by Congress for bank bailouts, but the idea is at a very preliminary discussion stage, officials said on Friday.
The proposal to shift part of the $700 billion bank bailout [...]
Goldman Sachs Has Huge First Quarter Profits
Posted: 14th July 2009 by Veritas in Economy | FinanceTags: bailout, bank, goldman sachs, government, Obama, tarp, treasury
NEW YORK- Goldman Sachs Group Inc said quarterly earnings surged 33 percent on blowout trading results, trouncing expectations and putting the bank on pace for outsized bonuses that could draw more unwanted public scrutiny.
Geithner Wants More Control Over Derivatives
Posted: 11th July 2009 by Veritas in Economy | FinanceTags: bailout, bernake, commission, commodity, crisis, derivatives, Economy | Finance, financial, frank, futures, geithner, Obama, oversight, Recession, trading, treasury, wall street
WASHINGTON – Obama administration officials outlined comprehensive proposals to rein in the free-wheeling market in financial derivatives on Friday, which has been blamed for helping to create the global economic crisis, and proposed stronger investor protections.
More administration proposals are expected in coming weeks to expand the powers of the federal agencies that oversee trillions of [...]
Treasury Dept. & Banks Skim $10 Million from Taxpayers
Posted: 10th July 2009 by Veritas in Crime, Economy | FinanceTags: bailout, banks, billion, congressional oversight panel, government, market value, million, stock, taxpayer, treasury, U.S., warrents
WASHINGTON – The U.S. Treasury Department allowed 11 smaller banks to repurchase stock warrants at only 66 percent of their market value, passing up about $10 million of taxpayer profits from government bailouts, a U.S. watchdog panel said on Friday.
In a new monthly report, the Congressional Oversight Panel said the government could lose $2.7 billion [...]
Proposal to Audit The Fed Gains Support in House
Posted: 9th July 2009 by Veritas in Economy | Finance, PoliticsTags: audit, bailout, central bank, fed, federal reserve, money, Recession, ron paul, tarp, The Federal Reserve Transparency Act of 2009, washington
WASHINGTON – A proposal from a long-time congressional foe of the Federal Reserve that could give lawmakers sway over monetary policy has won the support of a majority in the House of Representatives, alarming officials at the U.S. central bank.
The Federal Reserve Transparency Act of 2009, put forward by Republican Representative Ron Paul of Texas, [...]
TARP Execs Have Loophole Around New Pay Czar
Posted: 13th June 2009 by Veritas in Economy | FinanceTags: bailout, federal, feinberg, geithner, Obama, pay czar, salary cap, tarp, treasury, wall street
The Obama administration scrapped the $500,000 salary cap it proposed for executives at firms receiving large amounts of federal assistance but appointed a pay czar to review, reject and even set pay levels — with no appeal.