AOL News has a new home! The Huffington Post.
Click here to visit the new home of Politics Daily!Hot on HuffPost:
Controversial Book On Obama Appears To Have Lifted Key Quote
Walker Recall Effort Struggles To Gain Momentum
aig
TARP Bailout Will Cost $25 Billion, Well Under Earlier Estimates, CBO Says
By Carla Baranauckas - Politics DailyThe Troubled Asset Relief Program, known as TARP, through which Congress authorized the Treasury Department to spend $700 billion to buy or insure troubled assets to promote stability in the financial markets, will likely end up costing the United States $25 billion, according to an estimate issued Tuesday by the Congressional Budget Office. "Clearly, it was not apparent when the TARP was created two years ago that the cost would turn out to be this low," the budget office said in its latest report on the program. "At that time, the U.S. financial system was in a precarious condition, and the ...
FDIC Probing 50 Banks, but Still No Fall Guy for Financial Crisis
By Paul Wachter - AOL News(Nov. 17) -- Remember the savings-and-loan crisis? Charles Keating was the high-profile villain and served four years in prison for fraud. Five senators -- the so-called Keating Five, which included John McCain -- were scolded by the Senate Ethics Committee. Enron also produced some easily identifiable bad guys, most notably CEO Jeffrey Skilling and Chairman Ken Lay. Skilling is currently serving a 24-year prison sentence, and he may have been joined by Lay had the ex-chairman not passed away before his sentencing. But what of the most recent financial crisis? Wall Street giants Lehman ...
Could Foreclosure Fiasco Harm the Recovery? You Can Bet the House on It.
By Joann M. Weiner - Politics DailyHalloween is still 10 days off, but the housing market has been rocked by horror stories for weeks: tales of mortgage servicers who rubber-stamped documents approving foreclosure without reading them, robo-signers who handled 10,000 cases a month, affidavits that were signed and backdated with no notary present, homeowners who had been evicted from their homes and are now breaking back in, electronic mortgage registration systems that didn't keep track of who owned the mortgage notes, law firms that acted as foreclosure mills, and judges who have threatened to charge loan servicers with fraud ...
Bat Fellatio, Whale Snot Research Honored at Ig Nobel Awards
By Ben Muessig - AOL News
(Sept. 30) -- Every day of the year, scientists try to solve life's riddles, like how to use a remote control helicopter to retrieve whale snot, and whether or not swearing actually relieves pain. One night of the year, the science world comes together to honor the men and women seeking the answers to these difficult -- and yes, funny -- questions. The researchers responsible for this year's weirdest science gathered tonight at Harvard University for the "Ig Nobel Prize" ceremony, where top honors were handed out to 10 lucky winners from around the world. Steven Senne, AP Dr. Elena Bodnar, ...
AIG Agrees on Plan to Repay US Taxpayers for Bailout
By not in system - AOL News(Sept. 30) -- Finally, after many months of preparation and planning, American International Group (AIG) announced Thursday that it had entered into an agreement with the Treasury Department and the Federal Reserve Bank of New York about how it will repay its obligations to the U.S. government. "This is a pivotal milestone as we deliver on our long-standing promise to repay taxpayers, and we thank the American people for their support," said AIG President and CEO Robert H. Benmosche. ...
Federal Government to Give Up Majority Stake in Insurance Giant AIG
By Christopher Weber - Politics DailyTwo years after rescuing AIG from the brink of collapse, the federal government is preparing to give up its majority stake in the insurance giant. AIG's board met Wednesday with officials from the Treasury Department and Federal Reserve Bank to form a plan to trade the government's $46 billion in preferred shares for common stock, which would be sold to private investors, The Wall Street Journal reported. The government currently has a nearly 80 percent ownership of AIG. The newspaper said the conversion price could be near $35 per share of AIG, and the transaction will happen early next ...
Political Cartoons in the Age of Oil Spills and Obama
By David Moye - AOL News(Aug. 3) -- America is a very polarizing place these days, and while that is frustrating for some people, it's giving editorial cartoonists like Daryl Cagle a lot to draw upon. "Things are crazy, so this is a good time to be a cartoonist with a political point of view," said Cagle, who does cartoons for MSNBC.com. "People are angrier and more extreme than any time I can remember." For cartoonists like Cagle, the health care conflict, tea party activists, Shirley Sherrod, President Barack Obama continuing George W. Bush's war policies and the gulf oil spill provide him with a continuous flow ...
Is Tim Geithner Going to Block Elizabeth Warren From Leading New Consumer Protection Agency?
By Paul Wachter - AOL News(July 16) -- Treasury Secretary Tim Geithner doesn't like Elizabeth Warren. In her capacity as chairwoman of the Congressional Oversight Panel monitoring the U.S. banking bailout, she has interrogated Geithner before Congress (and the American public), and those interrogations have not reflected favorably on him. A typical exchange went like this: Why did the U.S. bail out AIG and its counterparties with taxpayers paying off credit-default swaps at their full, inflated rate but ask the insolvent auto industry to take major cuts? she asked Geither, who had no coherent explanation to ...
Opinion: Will Financial Reform Work? It Depends
By not in system - AOL News(July 16) -- In speaking about the financial regulation bill he will soon sign, President Barack Obama said that the bill "will prevent a financial crisis like this from happening again." This is oversimplified -- there is no way to prevent every crisis and this bill doesn't come close. In leaving Fannie Mae and Freddie Mac untouched, for example, the legislation fails to address a key factor behind the recent crisis. Still, there are elements of the bill that will help prevent future crises even as other parts are likely to have unintended negative consequences. An important innovation is ...
Mr. President, Here's a Rear End You Can Kick: Goldman Sachs'
By Joann M. Weiner - Politics DailyLast week, President Barack Obama told us he is looking for someone's "ass to kick." He seems to be still looking for one, so perhaps he could use some suggestions. Two candidates immediately come to mind. The first one is obvious: the hapless chairman of BP, whose reaction to the oil crisis gushing in the Gulf of Mexico was, "I'd like to get my life back." The shallowness and selfishness of that comment was so apparent to everyone but him -- 11 workers lost their lives in the April 20 oil rig explosion, and countless people's livelihoods are at risk -- so kicking Tony Hayward is almost too ...
Follow Politics Daily
POPULAR
- Nancy Pelosi Confirms House May Skip Up or Down Vote on Senate Health Bill
- Debrahlee Lorenzana: A Double Take on Those Double D's
- Palin Earnings Estimated at $12 Million
- Campbell Brown Quits CNN With Shockingly Frank Farewell
- The Five Most Racist Obama Cartoons?
- Soraya M., Stoned to Death for Being an "Inconvenient Wife''
- Jimmy Carter Leaves Church Over Treatment of Women
- No posts are available.
News From Our Partners
- Dragon arrives at space station in historic 1st
- Picking new leader, Egyptians search for superman
- Egyptians vote in first free presidential vote
- Moon chips from Vegas casino mogul sent to NASA
- Egyptians vote to rid nation of autocratic rule
- More Stories »
- Romneys at Home in Elite World of Dressage Riding
- Rudy Giuliani: Mitt's Great. I'm Just Better
- 'Masters of the Universe' Sure Have Fragile Egos
- Romney: My Mistakes 'Haunt Me'
- Newt Lauds Romney: He's Like Eisenhower
- More Stories »
- The 7 Best Moments from Sunday Talk
- Know Your Enemy
- Cannes’s Mischief Maker
- Cut It Out, Internet Bullies!
- Cut It Out, Internet Bullies!
- More Stories »
- Ambition Counteracting Ambition
- Robert Blagojevich Speaks Out
- In Iowa, Obama Calls Romney's Words 'A Cow Pie of Distortion'
- In Iowa, Obama Calls On Congress to Act on Clean Energy Tax Credits
- Romney Has Interesting Morning in Inner-City Philly
- More Stories »
Top News
More News
More on Aol
Local News
More Blog/Sites
Sites and Services
HuffPost Politics