The mayor of Birmingham, Ala., has been arrested on multiple charges of corruption stemming from the issuance of bonds and debt swap agreements that could lead to the largest municipal bankruptcy in American history. Mayor Larry P. Langford is accused of taking $235,000 worth of bribes from William Blount, chairman of the Alabama-based investment bank [...]
Results 1 - 10 of 842 for "AMERICAN"
TPM Muckraker reports about possible conflicts of inflict in TARP administration. Imagine!Highlights:The department has hired outside private contractors to administer parts of the bailout program, notes GAO. In their responses to Treasury's requirements, six of the eight service providers selected as of November 25, 2008, identified potential or actual sources of conflict. According to our rev...
The integration of Barclays Capital and Lehman Brothers’s North American investment banking team continued apace on Monday, as the British firm announced its deal-makers leadership team. Of the executives named in Barclays Capital’s announcement, all but a few are veterans of Lehman, which collapsed in September. All of the 15 sector verticals hail from Lehman, whose [...]
New chart from McKinsey global economic sentiment survey showing that North America, surprisingly enough, is actually among the less gloomy places on the globe with respect to thinking that the economy will weaken further from here. Maybe that shouldn't have surprised me, but it did.
NEW YORK (Reuters) - Maurice "Hank" Greenberg, the former chief executive of American International Group Inc , is seeking more information from the company on its agreement with the U.S. government over assets that have cost the giant insurer dearly.
Buy, Sell or Hold Insight: GM Remains a High Risk Profit Play – Even as it Files its Turnaround Plan Today
Tue, Dec 2, 11:31 AM ET
With America’s “Big Three” automakers all due to submit turnaround plans to Congress today (Tuesday) – a requirement if General Motor Corp. (GM), Ford Motor Co. (F), and Chrysler Corp., are to receive $25 billion in government loans – I couldn’t help but recall the moment eight years ago when I realized the U.S. auto industry was skidding toward a financial c...
If you were counting on gold to boost your returns this year, chances are you’ve been cruelly disappointed. In fact, when it comes to gold-related investments, virtually every category is down, making this one of the worst years in history for gold investors. So, why is it that the largest of the large futures traders have some of the lowest net short positions in years? And what does thi...
U.S. Launches New Assault on Consumer Recession, Backtracks on Toxic Mortgage Assets Bailout
Tue, Dec 2, 9:47 AM ET
The United States is now waging an all-out war against clogged credit markets and attacking each troubled artery head on. Earlier this week U.S. government officials announced a new plan to pump $800 billion dollars into the rapidly contracting economy by injecting funds into distressed credit markets where banks remain reluctant to lend and continue to hoard cash. Unprecedented, this latest sa...
By John Tamny RealClearMarkets In the days leading up to last week's Black Friday, the post-Thanksgiving shopping day when many retailers become profitable for the year, Americans were inundated with lots of media commentary about their Christmas-shopping plans. Various accounts suggested that with the economy needing a boost, prodigious spending on Black Friday would stimulate an economy that'...
As Americans this week sat down to their traditional Thanksgiving dinner, the real feast was once again being enjoyed by the Wall Street elite. Citigroup (C) received a heaping helping of government aid from the world's two most famous turkeys – Bailout Ben Bernanke and Handout Hank Paulson. The US government is now guaranteeing over $300 billion worth of Citi's loans. It is obvious what ...