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Bailouts

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  • *Greece ready to forego 12 bln euros remaining in IMF bailout. *Euro zone reluctant to remove IMF from supervising Greece. They also said Europeans were resisting a push by Athens to end borrowing from the IMF, which is unpopular in Greece and causing political problems.

  • *Bond market closing its doors to Greece, analysts say. Ten-year borrowing costs shot up by more 80 basis points to 7.85 percent, their highest since February, partly reflecting a lack of faith in Prime Minister Antonis Samaras' ability to ensure Greece can fund itself in the market. The Athens stock market plunged 6.8 percent to 884.06 and was on track for its...

  • Greek stocks sink, bond yield surge threatens bailout exit Wednesday, 15 Oct 2014 | 11:40 AM ET

    *Bond market closing its doors to Greece, analysts say. Ten-year borrowing costs shot up by more 80 basis points to 7.85 percent, their highest since February, partly reflecting a lack of faith in Prime Minister Antonis Samaras' ability to ensure Greece can fund itself in the market. At this level the market is closed for Greece, "said Alessandro Giansanti, senior...

  • Greek bourse plunges below 1,000 amid uncertainty Tuesday, 14 Oct 2014 | 12:30 PM ET

    ATHENS, Greece— Stocks have been hammered in Greece and borrowing costs continued to rise, amid renewed political uncertainty over the future of the country's bailout program. Shares on the Athens Stock Exchange closed 5.7 percent lower Monday, falling below the 1,000- point mark to 948.21, while yields on Greece's 10- year bonds hit 7 percent after a...

  • *Ireland to end tax regime that saved multinationals billions. DUBLIN, Oct 14- Ireland will phase out a tax loophole that multinationals use to save billions of dollars under sweeping changes to its corporate tax structure announced in Tuesday's budget, the first in seven years without new austerity measures. Ireland, which left a European Union/ IMF bailout...

  • WASHINGTON, Oct 12- Greece has begun talks for ending International Monetary Fund aid to the country, but will continue to have routine post-bailout reviews by the Washington- based group, a Greek official said after talks with the IMF's chief on Sunday. The IMF is deeply unpopular in Greece for insisting on austerity cuts under Greece's 240 billion euro EU/IMF...

  • Bernanke says he was reluctant on AIG bailout Friday, 10 Oct 2014 | 3:13 PM ET

    WASHINGTON— Former Federal Reserve Chairman Ben Bernanke etched a portrait Friday of his initial reluctance to have the central bank rescue American International Group Inc. in 2008. But he ultimately came to believe the $85 billion bailout loan to the company was needed to avert a shock to the financial system. "I did not make any personal judgments about the...

  • Bernanke defends AIG bailout in court Thursday, 9 Oct 2014 | 6:59 PM ET
    Former Chairman of the Federal Reserve Ben Bernanke.

    In court, former Fed Chair Ben Bernanke defended the government's bailout package for AIG, including an equity stake taken by the government.

  • WASHINGTON, Oct 9- Former Federal Reserve Chairman Ben Bernanke took the stand on Thursday to defend the U.S. government's bailout of American International Group in 2008, in a fourth day of testimony by former top government officials looking to convince a federal judge that the rescue of the insurance company was legal. Former AIG Chief Executive Hank...

  • Langone's view of AIG bailout     Thursday, 9 Oct 2014 | 8:08 AM ET

    Invemed Associates chairman and president Ken Langone, shares his opinions on the terms of AIG's government bailout.

  • CNBC's Mary Thompson reports former Treasury Secretary Timothy Geithner's testimony suggests AIG had no other options at the time of its government bailout.

  • HONG KONG, Oct 9- The bailout of domestic bondholders of Chinese solar equipment producer Chaori shows the government is determined to shield its rapidly growing corporate bond market in a slowing economy, analysts and traders say. State-owned China Great Wall Asset Management and a Shanghai- based investment firm will also guarantee 880 million yuan of the...

  • WASHINGTON, Oct 8- Former U.S. Treasury Secretary Timothy Geithner defended the 2008 bailout of American International Group Inc for a second day on Wednesday, struggling at times to respond to increasingly contentious questions about the government's efforts to rescue the insurance company as it stood minutes from bankruptcy. The questions came in the...

  • WASHINGTON, Oct 8- Former U.S. Treasury Secretary Timothy Geithner defended the 2008 bailout of American International Group Inc for a second day on Wednesday, struggling at times to respond to increasingly contentious questions about the government's efforts to rescue the insurance company as it stood minutes from bankruptcy. The questions came in the...

  • AIG trial: Geithner's doomsday binder     Wednesday, 8 Oct 2014 | 10:34 AM ET

    CNBC's Mary Thompson reports former New York Fed president and Treasury Secretary Tim Geithner is on the stand answering questions about the AIG bailout.

  • Treasury Secretary Timothy Geithner on Tuesday defended the government's rescue of American International Group Inc in September 2008, saying it was necessary to prevent the country from plunging into a second Great Depression. Geithner's comments came in testimony in the trial of a lawsuit brought by Hank Greenberg, a major AIG shareholder until the...

  • AIG's elephant in the room     Tuesday, 7 Oct 2014 | 4:22 PM ET

    John Levin, CEO of Levin Capital Strategies, says the elephant in the room for AIG is its board.

  • Geithner testifies in AIG trial     Tuesday, 7 Oct 2014 | 4:19 PM ET

    Former Treasury Secretary Timothy Geithner has taken the stand to testify over the AIG bailout. CNBC's Mary Thompson reports on some of Geithner's testimony.

  • WASHINGTON, Oct 7- Former U.S. Treasury Secretary Timothy Geithner on Tuesday defended the government's rescue of American International Group Inc in September 2008, saying the action was necessary to prevent the country from plunging into a possible second Great Depression. Geithner's comments came in testimony he provided in the trial of a lawsuit...

  • AIG bailout trial: Geithner on the stand     Tuesday, 7 Oct 2014 | 10:34 AM ET

    CNBC's Mary Thompson reports former New York Fed president and Treasury Secretary Tim Geithner is on the stand answering questions about the AIG bailout.