Category Archives: Bank

White House seeks oversight of executive pay

By doris | Published: March 22, 2009

Full Story At msnbc.com WASHINGTON – The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said. The outlines of the plan are expected to be unveiled this week in preparation for [...]

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Analysts: Next bailout will be a tougher sell

By doris | Published: March 18, 2009

Full Story At  CNN.com Echoing the sentiment of taxpayers, the president on Monday called the ailing insurance giant’s plans to dole out $165 million in bonuses an “outrage” and said he would attempt to block the additional compensation. AIG, one of the big benefactors of the government bailout, is now nearly 80 percent owned by [...]

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Poll: Frustration Growing Over Bailouts

By doris | Published: March 17, 2009

Full Story At  CBS News CBS) A growing number of Americans are opposed to providing government assistance to ailing financial institutions, according to a new CBS News poll. The poll also shows that the public clearly blames the management of the banks for the crisis and that many Americans are feel resentful that irresponsible banking [...]

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White House bracing for a bailout backlash

By doris | Published: March 16, 2009

Full Story At  msnbc.com WASHINGTON – The Obama administration is increasingly concerned about a populist backlash against banks and Wall Street, worried that anger at financial institutions could also end up being directed at Congress and the White House and could complicate President Obama’s agenda.

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Plan to impose new rules, aims to unclog credit

By doris | Published: February 10, 2009

Full Story At  msnbc.com WASHINGTON – The Obama administration, seeking to deal with the political outrage over the handling of the government’s $700 billion financial rescue program, plans to impose tough new standards on future payments to banks. It is also greatly expanding an effort to unclog credit markets to provide loans to consumers and [...]

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Wells Fargo defends, then cancels Vegas junket

By doris | Published: February 4, 2009

Wells Fargo defends, then cancels Vegas junket – Yahoo! News WASHINGTON – It’s a tradition for Wells Fargo & Co. to reward top employees with a lavish junket. In previous years, though, the company hadn’t just received a $25 billion bailout from taxpayers. The Associated Press reported Tuesday that Wells Fargo had booked 12 nights, [...]

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AP Investigation: Banks look overseas for workers

By doris | Published: February 2, 2009

Full Story At Yahoo! News SANTA CLARA, Calif. – Even as the economy collapsed last year and many financial workers found themselves unemployed, the dozen U.S. banks now receiving the biggest rescue packages requested visas for tens of thousands of foreign workers to fill high-paying jobs, according to an Associated Press review of visa applications. [...]

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Obama promises plan to cut mortgage costs

By doris | Published: February 1, 2009

Full Story At  msnbc.com WASHINGTON – President Barack Obama promised on Saturday to help lower Americans’ mortgage costs with a new plan, coming soon, that would revive the financial system and “get credit flowing again.”

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Analysis: Obama-China relations off to rocky start

By doris | Published: January 30, 2009

Full Story At Yahoo! News WASHINGTON – China recently surpassed Japan as the U.S. government’s largest creditor. Any decision by Beijing to move its money would deal a dizzying new blow to an already tottering American economy. Yet relations between China and the new Obama administration are off to a rocky start. For now, Beijing [...]

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Austria Takes Over Bank Crushed By Madoff

By doris | Published: January 2, 2009

Full Story At CBS News An Austrian bank suffering more than $3 billion in losses from the collapse of Bernard L. Madoff’s investment scheme was taken over by the Austrian government today, according to a statement on the Web site of Austria’s financial regulator Finanzmarktaufsicht. Bank Medici’s CEO Peter Scheithauer also resigned. Messages at Bank [...]

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