banks, bailouts

Report: Banks netted $13B from Fed loans

Banks earned $13 billion in secret cut-rate loans from the Federal Reserve during the financial crisis, Bloomberg reports... "Many Americans are struggling to understand why banks deserve such preferential treatment while millions of homeowners are being denied assistance and are at increasing risk of foreclosure," Cummings wrote in his letter.

Calls for Wiping Out Student Loan Debt Leave Americans Split on New 'Bailout'

As Occupy Wall Street protesters and their anti-bank message pick up momentum, among the unofficial list of grievances is a demand to have creditors forgive student loans. But a new survey suggests Americans are split on the idea, and education analysts say it would duplicate the same bad behavior the protesters are decrying.

Senh: I'm not sure how I feel about this. My initial reaction is that this sets a bad precedent for neglecting your obligations. Student loans already have one of the lowest interest rates. The economy is still in the gutters, and unemployment rate is still very high. It's so tough to find a job nowadays, especially for new college grads, so they do need some kind of relieve - maybe allow them to get delay repayment until the economy improves. Taypayers bailed out the financial institutions, and so far they're not showing customers any return in kindness; instead, they're charging them more fees. Only until recently did taxpayers see some of that kindness returned when the banks report that they're giving out more loans to small businesses. Still, it's hard to see any of it going directly to taxpayers. Wiping out student loans would directly benefit taxpayers, but the banks won't do it.

Germany, France agree on Europe bank bailout

The leaders of Germany and France, the eurozone's two biggest economies, say they have reached agreement on strengthening Europe's shaky banking sector.

Moody's Downgrades BofA, Wells Fargo, Citi

Moody's downgraded Bank of America's and Wells Fargo's long-term ratings and the short-term ratings of Citigroup, saying it believes the U.S. government is less likely to support the banks if needed.

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Freddie Mac seeks $1.5 billion from taxpayers

Mortgage finance giant Freddie Mac FMCC.OB said on Monday it would ask for an additional $1.5 billion from taxpayers due to losses stemming from the weak housing market.

AIG to Keep Mortgage-Insurance Unit

American International Group, the insurer that sold off several major units in its effort to repay its 2008 bailout, plans to keep its once-troubled but now rapidly growing mortgage-insurance unit.

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Fannie Mae seeks $5.1 billion more from taxpayers

Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.

AIG stock falls after $8.7 billion share sale

Shares of American International Group Inc fell more than 3 percent on Wednesday after the insurer and the U.S. Treasury sold $8.7 billion worth of stock.

Pay Czar Freezes GM, AIG CEO Salaries

Taxpayers won't foot the bill for raises for the chief executives at any of the four firms—GM, Chrysler, AIG, Ally Financial—still receiving assistance under the federal bank bailout.

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Report Cites Fannie, Freddie Executive Pay

A federal watchdog criticized federal regulators' oversight of executive pay packages for top officials at Fannie Mae and Freddie Mac in a report published Thursday. The top six executives at the mortgage giants earned $35 million in the last two years, according to the report from the inspector general of the Federal Housing Finance Agency, which regulates the mortgage giants.

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