Aug 26- A federal judge has rejected the United States' bid to dismiss a more than $25 billion lawsuit filed by Maurice "Hank" Greenberg, the former chief executive of American International Group, over the insurer's government bailout, clearing the way for a Sept. 29 trial.» Read More
Like a car spinning its wheels, the American economy hasn’t been getting much traction. The NYT reports.
After a dismal period of huge losses and deep cuts that culminated in the bailout of General Motors and Chrysler, the gloom over the auto industry is starting to lift. The NYT reports.
US taxpayers will be repaid in full for the government bailout of General Motors when the once-bankrupt automaker offers stock to the public later this year, President Obama said in an interview on CNBC Thursday.
With a Ford Motor assembly plant as the setting, President Barack Obama is arguing anew that his politically risky decision to bail out the auto industry saved it from collapse.
With the automaker's stock offering, Cramer fears that only the board and unions will benefit, leaving the taxpayers in the dust.
The Treasury Department's pay czar has called out 17 companies that took a bailout, then gave their employees lavish payments during the financial crisis.
The Troubled Assets Relief Program (TARP) places more burdens on small banks than on big ones, exacerbating the difference between financial institutions that are too big to fail and the rest, Congressional Oversight Panel Chairwoman Elizabeth Warren told CNBC Wednesday.
Executives of Goldman Sachs were grilled by members of an inquiry panel Thursday on the firm's full recovery of billions in debt in 2008 from crippled AIG, for which U.S. taxpayers footed the bill.
The assumption that European governments will never do something like the US allowing Lehman Brothers to fail in September 2008 is trumped by the fiscal reality, Niall Ferguson, Harvard University professor and author, told CNBC Tuesday.
The US needs to stop being the world spender of first and last resort, former IMF chief economist Raghuram G. Rajan told CNBC Monday.
An announcement from government-owned mortgage giant Fannie Mae warns: "Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure."
Coordinated liquidity measures and quantitative easing may have to return and banks could take another hit to their balance sheet because of the sovereign debt problems in the euro zone, according to Ashok Shah, the CIO at London & Capital.
The moral of the Aesop’s fable is idleness brings want. Today, the ants are Germans, Chinese and Japanese, and the grasshoppers are American, British, Greek, Irish and Spanish, says the FT's Martin Wolf.
Sovereign debt concerns in Europe have taken hold of global stock markets and the 'flight-to-safety" flow into US bonds will continue, experts told CNBC.
The Treasury Department indicated Friday it expects taxpayers will lose billions less from the financial bailouts than earlier estimated. The problem is, its revised forecast assumes Treasury's shares of bailed-out companies are gaining value despite this week's plunge in stock prices.
Expect wild volatility in European markets Friday, as the Continent awaits the German vote on euro-zone bailout package.
Party-switching Sen. Arlen Specter fell to a younger and far less experienced rival in the Pennsylvania Democratic primary, and political novice Rand Paul rode support from tea party activists to a Republican rout in Kentucky on Tuesday, the latest jolts to the political establishment in a tumultuous midterm election season.
As Greece gets its first instalment of aid from the European Union Tuesday, investors and traders are concerned about the fiscal strength of the other PIIGS: Portugal, Italy, Ireland and Spain.
Hint: Not US banks. Plus, who should GM pay back first?
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