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By Richard Schickel
$12.13
By David Bentley Hart
$11.56
$23
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AP/Cliff Owen
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By Robert Scheer — How astonishing to have a public servant who actually cares to inform the public about the inner workings of the system of crony capitalism that has wedded big government with big business.
Posted on May 14, 2013
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Todd Ehlers (CC BY-ND 2.0)
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The American banking industry enjoyed profits of $35.3 billion in the first quarter of 2012, the industry’s best performance since 2007, according to the Federal Deposit Insurance Corp. But it did so largely because banks put aside less money to cover bad loans, while keeping a lid on new lending.
Posted on May 24, 2012
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Pavel Constantin, Cagle Cartoons, Romania —
Posted on Oct 2, 2011
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Flickr / jurvetson (CC-BY)
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A congressional investigative committee interrogated government officials Wednesday about why they supported giving a $535 million loan package to the recently failed California solar panel manufacturer Solyndra.
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Flickr / Abode of Chaos
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The opposition government in Libya is running out of money to pay workers and provide basic necessities to civilians, and is now seeking $3 billion in international loans. (more)
Posted on May 4, 2011
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Flickr / Council of Europe
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The German Parliament has approved a series of measures allowing the country to provide up to $184 billion in loan guarantees in a package aimed at stabilizing the euro and helping support those European nations that are mired in debt.
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AP / Andy Blenkush
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By Moshe Adler — Why should a poor borrower be held more responsible than a rich borrower for the default of another poor borrower?
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Want to see how the FDIC works with banks to help them turn a nifty profit on short sales and foreclosures? Check out this video from the folks at Think Big, Work Small in which they detail how it happens.
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Wikimedia Commons / United States Federal Reserve
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The Federal Reserve announced Thursday it would increase the interest rate for temporary bank loans. The New York Times reports that many on Wall Street see this as signaling an end to big bank profits. But some economists say the move was purely technical, with no real effect on how much money is made.
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Flickr / AmyZZZ1
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Nuclear power was a big issue back during the 2008 primaries. Then-candidate Barack Obama always said he favored nuclear power, and now he’s about to put our money where his mouth was. The president is expected to announce $8.3 billion in loan guarantees, with more on the way, to build two new reactors—the first in decades.
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Flickr / respres
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By Paul Kiel, ProPublica —
The administration set a goal of helping up to 4 million homeowners through the $75 billion mortgage modification program, but banks appear to have created unnecessary hurdles that, in some instances, violate the loan program’s rules.
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AP / Susan Walsh
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On Monday at the White House, President Barack Obama reminded a group of big banking honchos (or “fat cats,” as he called them Sunday) about last year’s bailout and advised them to get busy helping the taxpayers who helped with their recovery. Well, good luck with that one.
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truckend.com
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General Motors, recipient of the 2009 “Nation’s Most Resistant-to-Change Company That Still Gets Federal Assistance” award, wants more. The auto giant on Wednesday asked for $16.6 billion in loans, on top of the $13.4 billion already granted. All this amid GM plans to shed 47,000 jobs worldwide.
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The FDIC’s list of “problem” banks grew by 30 percent in the last quarter, with more on the way. The net income of FDIC-insured lenders, meanwhile, has plummeted 87 percent. IndyMac, one of nine banks to kick the bucket in 2008, cost the FDIC $8.9 billion.
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Flickr / zoliblog
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While depositors at IndyMac banks in California do battle for a chance to get their cash out, financial analysts have been crunching the numbers to identify other troubled lenders. ABC News snuck a peek to come up with this handy guide to banks with an unfortunate “Texas ratio.”
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Hillary Clinton is under immense pressure to exit the campaign, but thanks in part to one of her rivals, she would be saying goodbye to more than the presidency. Because of the McCain-Feingold campaign finance law, Clinton has until the convention in August to recoup her loans. After that, she could be out more than $11 million.
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marketplace.publicradio.org
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You know the economy is in trouble when investors and analysts are relieved that Citigroup lost only $9.83 billion in the last quarter of 2007. The banking giant managed to squeeze a few billion out of Abu Dhabi and Singapore, and will still pay a dividend on its stock, so for now the mood is upbeat.
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As interest rates continue to spiral out of control for many high-risk borrowers, the number of home foreclosures around the country is steadily going up. There isn’t much good news for the opportunistic lenders either—more than 20 mortgage companies have already gone bankrupt.
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Dwayne Powell —
Posted on Mar 20, 2006
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Bank of America Lied to Homeowners and Rewarded Foreclosures, Ex-Employees Say
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