Group Think, Duct Tape and Slam Dunks
US May See 150-200 More Bank Failures: Bove Reuters | 24 Aug 2009 | 01:07 PM ET A prominent banking analyst said Sunday that 150 to 200 more U.S. banks will fail in the current banking crisis, and the industry’s payments to keep the Federal Deposit Insurance Corp afloat could eat up 25 percent of […]
MoreFebruary 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 […]
MoreKathleen 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 […]
MoreMerrill bonuses made 696 millionaires: probe 02/12/2009 @ 8:28 am Agence France-Presse via RAW STORY WASHINGTON (AFP) – Merrill Lynch quietly paid out at least one million dollars bonus each to about 700 top executive even when the investment house was bleeding with losses last year, a probe has revealed. They were part of 3.6 […]
MoreT 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 […]
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