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. […]
Wells Fargo received $25 billion from the George Bush TARP program. One of Wells Fargo’s biggest problems was the acquisition of Wachovia in December of 2008. Wachovia came with a whole slew of problems, but probably none bigger than this: On 10 April 2006, a DC-9 jet landed in the port city of Ciudad del […]
The Malkinites of the world hate when the government tries to help people out, but that is exactly what they are doing: Prodded in part by some of the nation’s biggest banks, the Bush administration and Congress are considering costly new proposals for the government to rescue hundreds of thousands of homeowners whose mortgages are […]