The TARP was passed as an emergency life line to troubled banks, but read this: A small but growing number of community banks are backing out of the government’s bailout, which they see as fraught with hidden strings and government interference. About 20 banks so far that applied for or had been approved to receive […]
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. […]
That has been the mantra of the Bush administration and Republicans for year, and it was even included in the TARP: Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the […]