Group Think, Duct Tape and Slam Dunks
Lehman
Propping Up a House of Cards
February 28, 2009 Talking Business By JOE NOCERA THE NEW YORK TIMES Next week, perhaps as early as Monday, the American International Group is going to report the largest quarterly loss in history. Rumors suggest it will be around $60 billion, which will affirm, yet again, A.I.G.’s sorry status as the most crippled of all […]
MoreGovernment Bailout Hits $8.5 trillion
Kathleen Pender The San Francisco Chronicle November 26, 2008 The federal government committed an additional $800 billion to two new loan programs on Tuesday, bringing its cumulative commitment to financial rescue initiatives to a staggering $8.5 trillion, according to Bloomberg News. That sum represents almost 60 percent of the nation’s estimated gross domestic product. Given […]
MoreThe 20 Senators Who Voted For Wall Street Bailout But Against Auto Industry Rescue
THINK PROGRESS DEC 12, 2008 Last night, the Senate failed to approve the auto rescue package, voting 52-35 in favor of proceeding on the bill — just eight short of the 60 votes that were needed. Over on the Wonk Room, Dan Weiss takes a look at the 20 senators who voted for the Wall […]
MoreGuess What? That Whole “Limit on Executive Pay” Thingy in Bailout is Bunk
Executive Pay Limits May Prove Toothless Loophole in Bailout Provision Leaves Enforcement in Doubt By Amit R. Paley Washington Post Staff Writer Monday, December 15, 2008; A01 Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation […]
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