Group Think, Duct Tape and Slam Dunks
T H I N K P R O G R E S S Just weeks ago, the federal government extended $20 billion to Bank of America to keep it afloat, bringing its total in federal bailout dollars received to $45 billion. ABC News reports, however, that the bank managed to scrounge up millions of dollars […]
MoreBy Christine Harper Dec. 16 (Bloomberg) Goldman Sachs Group Inc., which got $10 billion and debt guarantees from the U.S. government in October, expects to pay $14 million in taxes worldwide for 2008 compared with $6 billion in 2007. The company’s effective income tax rate dropped to 1 percent from 34.1 percent, New York-based Goldman […]
MoreJanuary 29, 2009 What Red Ink? Wall Street Paid Hefty Bonuses By BEN WHITE By almost any measure, 2008 was a complete disaster for Wall Street — except, that is, when the bonuses arrived. Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial […]
MoreSEEKING ALPHA William Patalon III Bank of American Corp. (BAC), which is getting $15 billion from the U.S. government as part of the Treasury Department’s $250 billion “recapitalization” effort, is doubling its stake in state-owned China Construction Bank Corp., and will hold a 20% stake worth $24 billion in China’s second-largest lender when that deal […]
MoreEconomy in Turmoil and Bailout Plans Adrift THE SAN FRANCISCO CHRONICLE Carolyn Lochhead, Chronicle Washington Bureau Sunday, December 7, 2008 Washington — Detroit automakers are in line behind governors who are in line behind banks, seeking emergency aid from Washington. Nearly $8 trillion in federal commitments is already out the door, and half of the […]
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