A new article in Bloomberg talks about the biggest banks getting $1.2 trillion in help: Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits. […]
When your parent company is the largest media corporation in the world and in the middle of one of the hugest corporate scandals in history, then blaming the media probably isn’t a good idea, but that’s exactly what happened on Fox yesterday. Bob Dilenschneider of the Dilenschneider Group was on Fox and Friends, trying to […]
Want to know why Democrats keep having problems? Because on every single issue they play this game of “kick the can”. It’s the procrastination party!. Here’s the latest example: Democrats want to take the offensive and propose higher tax rates for millionaires, companies that move factories overseas and wealthy people who make charitable contributions. But […]
Even with Julian Assange in a massive legal fight, his work carries on. Now the group Anonymous has released a large batch of Bank of America emails, with this potentially explosive information: The documents indicate that Bank of America improperly foreclosed on several homes during the height of the financial crisis in 2008 that began […]
Not a real shocker here, but it turns out that a lot of the TARP recipients are lining the pockets of our leaders through political donations: In recent filings with the Federal Election Commission, the political action committee for Bank of America (which got $15 billion in bailout money) sent out $24,500 in the first […]
Well under Bush it appears to have done just the opposite: The 20 largest banks that received government rescue funds slightly reduced their lending to consumers and businesses in the last three months of 2008, the government said Tuesday. The Treasury Department said the banks reduced their mortgage and business loans by a median of […]
All the talk this week about Timothy Geitner’s tax problems seems like even smaller potatoes compared to this: Eighty-three of the nation’s 100 largest corporations, including Citigroup, Bank of America and News Corp., had subsidiaries in offshore tax havens in 2007, and some of the companies received federal bailout funding, a government watchdog said Friday. […]
I’m sure everyone has heard about this by now: On the chilly factory floor of the Republic Windows and Doors plant, Apolinar Cabrera and a couple hundred workers have decided to make their stand. Their jobs evaporated Friday when this Chicago company unexpectedly closed its doors, blaming lender Bank of America for cutting off its […]
(Updated and bumped) So the big story is of this McCain worker who was mugged and assaulted by a supposed Obama supporter. Drudge has been pushing this story hard. Here’s the image of the “victim” that he had appearing at the top of his site for the last several hours: Cesca and Wonkette have both […]
While people are losing their homes, the CEO of Country Wide is getting ready for a big payday: Angelo Mozilo, the co-founder and public face of troubled mortgage giant Countrywide, is eligible for tens if not hundreds of millions in compensation and perks on the sale of the company to Bank of America. During calendar […]