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Bloomberg Report Shows TARP Profits Top Treasury Bond Returns
By Steven Hoffer - AOL News(Oct. 20) -- Returns on the Troubled Asset Relief Program used to bail out the financial industry, better known as TARP, generated higher profits for taxpayers than 30-year Treasury bonds, according to a Bloomberg report. The government earned $25.2 billion on its investment of $309 billion in the financial sector, which many critics originally believed would result in losses of hundreds of billions of dollars. However, concerns persist regarding the TARP program. "From the perspective of the taxpayers getting their money back, TARP has been a great success," Todd Petzel, chief investment ...
Another 'Hindenburg Omen' Sighted? Not So Fast ...
By Carl Franzen - AOL News(Aug. 20) -- Say it isn't so! A week after the obscure technical analysis indicator known as the "Hindenburg Omen" sent chills of fear of another stock market crash throughout the financial blogosphere, and just a couple of days since others began debunking it, the stock market took another turn for the worse, and low and behold ... the ill-fated signs of the "HO" appeared again. Or did they? According to The Street's Scott Eden, the answer is a definite, unfortunate yes. As he wrote on Friday: "Start stocking up on the canned goods -- the Hindenburg Omen is back. ... A second occurrence of ...
Treasury Dept.'s Pay Czar Tries to Shame Wall Street
By not in system - AOL News(July 23) -- Pay czar Kenneth Feinberg must feel something like a biblical prophet, except that his job in the Obama administration is more difficult. Ancient sages warned people to do the right thing or face the wrath of the Lord. Feinberg, however, has to bring shame to Wall Street, which is home to many people who don't seem to know what shame is. ...
Obama Interview: 'I Expect to Be Held Accountable'
By Andrea Stone - AOL News(July 16) -- President Barack Obama said "nobody in the White House is satisfied with where we are right now" in the still sluggish economy, but he exuded confidence that when voters go to the polls in November they will face "a choice between the policies that got us into this mess and my policies that are getting us out of this mess." In an interview that aired today on NBC's "Today" show, the president said he is prepared "to be held accountable for the policies that I've put in place," including massive overhauls of the health care and financial systems. Citing those changes, along with ...
Long-Fought Wall Street Reform Bill Goes to Obama
By Joseph Schuman - AOL News(July 15) -- Senate Democrats today muscled through a far-reaching overhaul of Wall Street rules and oversight that sent the government's most ambitious effort to prevent future financial crises to the White House for President Barack Obama's signature. Capping more than a year of legislative fights, fierce lobbying from the financial industries and a skein of congressional probes into the global economic crisis that steadily drummed up popular support for reform, the 60-39 vote saw three Republicans break ranks with their party to join all but one Democrat in support of a measure sure to ...
Obama Hails Deal on Sweeping Financial Reform
By not in system - AOL News(June 25) -- It took 20 hours and some frantic, last-minute dealmaking, but House and Senate negotiators wrapped up a marathon session Friday morning with a final deal to overhaul the American financial system nearly two years after the 2008 crisis that brought the American economy to the brink of collapse. Just before 6 a.m. Friday, bleary-eyed lawmakers approved the House-Senate conference committee report on a party-line vote of 27-16 after a grueling two-week session that Sen. Chris Dodd (D-Conn.) compared to living in purgatory. ...
Banks, CDOs and Prison Futures
By Robert and Donna Trussell - Politics Daily...
Senate Breaks Impasse on Financial Regulation Bill
By not in system - AOL NewsWASHINGTON (May 20) -- Barely breaking a logjam, the Senate voted today to end debate on a massive financial regulation bill, clearing the way for final passage of the most ambitious effort to write rules for Wall Street since the Great Depression. The vote was 60-40 to advance the legislation, which has become a top priority for President Barack Obama in the aftermath of his successful health care overhaul in March. The president heralded today's vote, saying Wall Street efforts to undermine the legislation had failed. "Our goal is not to punish the banks," he said, "but to protect the ...
Financial Overhaul Bill Stalls on Senate Floor
By Joseph Schuman - AOL News(May 19) -- Three weeks after Democrats won a fight to move debate on a Wall Street overhaul to the floor of the Senate, they are struggling anew to put the measure to a final vote. A bid to close debate failed today when the measure's backers couldn't muster the 60-vote majority needed to set up a final tally on the legislation aimed at preventing future financial crises. The 57-42 vote found all but two Republicans against the cloture motion, something Majority Leader Harry Reid was quick to point out. "I've never seen a party so consistently and passionately defend special interests," ...
Regulate the Banks? You'll Spoil the Fun
By Robert and Donna Trussell - Politics Daily...
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