http://www.freerepublic.com/tag/bailout/ en-us Wed, 23 Dec 2009 18:43:18 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-news/2413910/posts SAN FRANCISCO (AP) -- Wells Fargo & Co. said Wednesday that it repaid the $25 billion in bailout funds it received from the Treasury Department under the Troubled Asset Relief Program. The company said in a statement that it redeemed the series D preferred stock issued to the Treasury under TARP in October of last year. As part of the redemption of the preferred stock, Wells Fargo said it also paid accrued dividends of $131.9 million, bringing the total dividends paid to the Treasury Department to $1.44 billion since the stock was issued AP http://www.freerepublic.com/focus/f-news/2413910/posts#comment Wed, 23 Dec 2009 18:43:18 GMT http://www.freerepublic.com/focus/f-bloggers/2419360/posts GOVERNMENT DOLES OUT $3.8 BILLION TO GMAC, MISSPELLS TWO WORDS IN HEADLINE: I kid you not. And just in case someone from the U. S. Treasury comes back and checks their spelling, I've copied and pasted the announcement below (page down). Notice the headline: "Treasury 'Annouces Resturcturing' of Commitment To GMAC" THE FREEDOM POST http://www.freerepublic.com/focus/f-bloggers/2419360/posts#comment Sat, 2 Jan 2010 06:02:55 GMT http://www.freerepublic.com/focus/f-bloggers/2418854/posts The year 2010 is likely to be the pivotal year where pundits stop referring to the recession and begin openly talking about a depression. Our economic problem is rather simple to describe: There is too much debt relative to income and/or wealth. Below is a single graph that depicts the condition of our economy. It shows total debt of the U.S. as a percentage of GDP from 1870 forward. The debt figure includes all private and public debt. It does not include liabilities associated with unfunded government mandates like Social Security and Medicare. (Note: according to the U.S. trustees of... American Thinker http://www.freerepublic.com/focus/f-bloggers/2418854/posts#comment Fri, 1 Jan 2010 07:37:11 GMT http://www.freerepublic.com/focus/f-news/2418452/posts I wondered why Arnie was recently extolling the virtues of all things Obama and telling us what a super job he’s been doing. It’s about the only transparent thing I’ve seen out of anything to do with government this entire last year: Facing a budget deficit of more than $20 billion, Gov. Arnold Schwarzenegger is expected to call for deep reductions in already suffering local mass transit programs, renew his push to expand oil drilling off the Santa Barbara coast and appeal to Washington for billions of dollars in federal help, according to state officials and lobbyists familiar with the... QandO.Net http://www.freerepublic.com/focus/f-news/2418452/posts#comment Thu, 31 Dec 2009 17:25:20 GMT http://www.freerepublic.com/focus/f-bloggers/2418394/posts Back in February, I wrote a piece called I Really Don't Care Much About California, But This Stunned Me. The gist of it was that California politicians are so reckless in spending, taxing, and regulating that they have essentially bankrupted their own state. I didn't really care about what they did to their state because they have a right to govern themselves and far be it for me in Virginia to tell them how to live their lives. Well, it is getting worse. The state is truly toxic for business. . . . Now I am starting to care about... Patriot Room http://www.freerepublic.com/focus/f-bloggers/2418394/posts#comment Thu, 31 Dec 2009 16:15:33 GMT http://www.freerepublic.com/focus/f-news/2417937/posts Did anyone just hear the story on Fox Buiness News about the mortgage bailout plan that Obama put forth. The figures were so unbelievable. If anyone has the figures or a link to the story please fill us in - NO ONE WILL BELIEVE IT! http://www.freerepublic.com/focus/f-news/2417937/posts#comment Wed, 30 Dec 2009 22:29:49 GMT http://www.freerepublic.com/focus/f-news/2417633/posts The government's move to ease the limits on the securities holdings of Fannie Mae and Freddie Mac has ignited a debate among analysts about what the companies will do with their longer leash. When the Treasury Department took over Fannie and Freddie last year, one of the requirements they set for the companies required them to begin shrinking their portfolios of mortgages and related investments, which total a combined $1.5 trillion. The idea was to rein in the companies' size and growth. But last Thursday, the Treasury eased that requirement, meaning the companies won't be forced to sell mortgages next... Wall Street Journal http://www.freerepublic.com/focus/f-news/2417633/posts#comment Wed, 30 Dec 2009 15:09:36 GMT http://www.freerepublic.com/focus/f-news/2417253/posts <p>GMAC Financial Services is close to getting approximately $3.5 billion in additional aid from the U.S. government, on top of $12.5 billion already received since December 2008, according to people familiar with the situation.</p> <p>The announcement, expected within days, will coincide with GMAC taking additional steps to absorb losses related to its mortgage operations, these people said. The cleanup is designed to return the Detroit-based finance company to profitability in the first quarter of 2010, according to one of these people.</p> Wall Street Journal http://www.freerepublic.com/focus/f-news/2417253/posts#comment Tue, 29 Dec 2009 23:26:51 GMT http://www.freerepublic.com/focus/f-news/2416413/posts The government may put a mortgage-modification effort, called the Home Affordable Modification Program, or HAMP, into overdrive in coming years, pushing for reductions in the principal outstanding on home loans overseen by Fannie Mae and Fredie Mac. MarketWatch-WSJ http://www.freerepublic.com/focus/f-news/2416413/posts#comment Mon, 28 Dec 2009 18:39:50 GMT http://www.freerepublic.com/focus/f-news/2415619/posts (snip) Sen. Lindsey Graham believes his fellow South Carolina Republican's verdict is too harsh. He plans to vote to confirm Bernanke, who just turned 56. “I remember what it was like in September 2008 when the stock market went down a thousand points, and we had one failure after another of major financial institutions,” Graham told McClatchy. “Bernanke and some others came up with a game plan to save us from another Great Depression,” Graham said. “I think he's been a pretty steady hand at the tiller.” DeMint also blasts Bernanke on the $700 billion financial bailout bill pushed by... The Herald, Rock Hill, SC http://www.freerepublic.com/focus/f-news/2415619/posts#comment Sun, 27 Dec 2009 05:27:45 GMT http://www.freerepublic.com/focus/f-news/2415554/posts The Treasury announced Thursday it was removing the caps that limited the amount of available capital to the companies to $200 billion each. Wall St. Journal http://www.freerepublic.com/focus/f-news/2415554/posts#comment Sun, 27 Dec 2009 01:30:51 GMT http://www.freerepublic.com/focus/f-news/2415524/posts Karachi, Dec. 26 : Following the Pakistan Supreme Court's advice to the government to use eunuchs to recover outstanding loans, the transgender community is excited and ready to help, but only if they are given the same commission as their Indian counterparts. They are ready to help the authorities in their own 'traditional' style. "If we are asked to recover loans, we will constitute special teams and would rush to the houses of these defaulters with drums and other musical instruments and would sing and dance to ask them for the money,"Chief Justice Iftikhar Muhammad Chaudhry had suggested taking the... Asian News International/DailyIndia.com http://www.freerepublic.com/focus/f-news/2415524/posts#comment Sun, 27 Dec 2009 00:06:11 GMT http://www.freerepublic.com/focus/f-news/2415309/posts The Treasury snuck in another big bailout on Christmas Eve: It removed the cap on the amount of money it will provide to Fannie Mae and Freddie Mac to cover their ongoing mortgage losses. There is now no limit on how much we taxpayers will shovel down these black holes. The move is designed to reassure Fannie and Freddie bondholders, who provide a lot of the money the companies use to support the housing market. These bondholders have now apparently been given an explicit government guarantee, in perpetuity. The move is also obviously designed to continue to prop up house... The Business Insider http://www.freerepublic.com/focus/f-news/2415309/posts#comment Sat, 26 Dec 2009 15:31:28 GMT http://www.freerepublic.com/focus/f-news/2415313/posts The Obama administration's decision to cover an unlimited amount of losses at the mortgage-finance giants Fannie Mae and Freddie Mac over the next three years stirred controversy over the holiday. The Treasury announced Thursday it was removing the caps that limited the amount of available capital to the companies to $200 billion each. Unlimited access to bailout funds through 2012 was "necessary for preserving the continued strength and stability of the mortgage market," the Treasury said. Fannie and Freddie purchase or guarantee most U.S. home mortgages and have run up huge losses stemming from the worst wave of defaults since... The Wall Street Journal http://www.freerepublic.com/focus/f-news/2415313/posts#comment Sat, 26 Dec 2009 15:36:16 GMT http://www.freerepublic.com/focus/f-news/2415189/posts Even 60 Minutes forecasts a major second crash. The fake Obama "bailout" with massive debt, printing money, "cap and tax," healthcare takeover, increasing the debt limit, giving Fannie Mae and Freddie Mac another "open season" on taxpayer money ... are setting us up for even worse. 60 Minutes http://www.freerepublic.com/focus/f-news/2415189/posts#comment Sat, 26 Dec 2009 04:10:59 GMT http://www.freerepublic.com/focus/f-bloggers/2415123/posts One year ago this month, I opined about taxpayers footing the bill for several college football bowl games. Today, I decided to revisit the college football bowl scene and find out who's sponsoring this year's post-season gridiron clashes. [Note: I brought this back to the front page of this blog after it was cross-posted Christmas Day at BigGovernment.com. Enjoy!] Bob McCarty Writes http://www.freerepublic.com/focus/f-bloggers/2415123/posts#comment Sat, 26 Dec 2009 00:11:33 GMT http://www.freerepublic.com/focus/f-news/2414971/posts The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac. The Treasury Department said Thursday it removed the $400 billion financial cap on the money it will provide to keep the companies afloat. Already, taxpayers have shelled out $111 billion to the pair, and a senior Treasury official said losses are not expected to exceed the government's estimate this summer of $170 billion over 10 years. Treasury Department officials said it will now use a flexible formula to ensure the two agencies can stand behind the billions of dollars in mortgage-backed securities they sell... Associated Press http://www.freerepublic.com/focus/f-news/2414971/posts#comment Fri, 25 Dec 2009 15:55:43 GMT http://www.freerepublic.com/focus/f-news/2414011/posts The desperate demand for dollars expresses itself in many ways. Shane Goldmacher and Evan Halper report for LaTi: Facing a budget deficit of more than $20 billion, Gov. Arnold Schwarzenegger is expected to call for deep reductions in already suffering local mass transit programs, renew his push to expand oil drilling off the Santa Barbara coast and appeal to Washington for billions of dollars in federal help, according to state officials and lobbyists familiar with the plan. If Washington does not provide roughly $8 billion in new aid for the state, the governor threatens to severely cut back -- if... Economic Policy Journal http://www.freerepublic.com/focus/f-news/2414011/posts#comment Wed, 23 Dec 2009 21:00:33 GMT http://www.freerepublic.com/focus/f-news/2411303/posts Harder to buy US Treasuries Created: 2009-12-18 0:13:35 Author:Zhou Xin and Jason Subler IT is getting harder for governments to buy United States Treasuries because the US's shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday. The comments by Zhu Min, deputy governor of the People's Bank of China, referred to the overall situation globally, not specifically to China, the biggest foreign holder of US government bonds. Chinese officials generally are very careful about commenting on the dollar and Treasuries, given that so much of its US$2.3 trillion reserves are tied to their... Shanghai Daily http://www.freerepublic.com/focus/f-news/2411303/posts#comment Sat, 19 Dec 2009 20:24:10 GMT http://www.freerepublic.com/focus/f-news/2409941/posts And the total risk they pose to the taxpayer far exceeds that of the big banks. Fannie and Freddie, in the final days of the year, are even said to be negotiating with the Treasury about greatly expanding the money available to them. Though the four are not in all the same businesses, they were caught in one of the same traps: They sold mortgage guarantees — in some cases to each other. Now when homeowners default, as they are doing in record numbers, these companies are covering the losses. Essentially, taxpayer money to these companies is being used partly... The New York Times http://www.freerepublic.com/focus/f-news/2409941/posts#comment Thu, 17 Dec 2009 23:01:23 GMT http://www.freerepublic.com/focus/f-bloggers/2409153/posts One year ago this month, I opined about taxpayers footing the bill for several college football bowl games. Today, I decided to revisit the college football bowl scene and find out who's sponsoring this year's post-season gridiron clashes. Bob McCarty Writes http://www.freerepublic.com/focus/f-bloggers/2409153/posts#comment Thu, 17 Dec 2009 00:11:58 GMT http://www.freerepublic.com/focus/f-news/2408920/posts "This is a bigger bailout for the insurance industry than AIG," former Democratic National Committee chairman and medical doctor Howard Dean told "Good Morning America's" George Stephanopoulos today. "A very small number of people are going to get any insurance at all, until 2014, if the bill works." Realclearpolitics.com http://www.freerepublic.com/focus/f-news/2408920/posts#comment Wed, 16 Dec 2009 19:17:26 GMT http://www.freerepublic.com/focus/f-news/2408421/posts Deal made to recover bailout Firms exempted from rule when U.S. sells its stake Washington Post http://www.freerepublic.com/focus/f-news/2408421/posts#comment Wed, 16 Dec 2009 03:02:14 GMT http://www.freerepublic.com/focus/f-news/2407404/posts Or did they? It sure sounds that way.... First, the Government of Abu Dhabi and the UAE Central Bank have agreed to provide important support. Specifically, the Government of Abu Dhabi has agreed to fund $10 billion to the Dubai Financial Support Fund that will be used to satisfy a series of upcoming obligations on Dubai World. You'll bail out the immediate maturing bond (you can call it a "sukuk" if you want; I call it a dodge to "comply" through fraudulent means a claimed absolute ban on the charging of interest, but then again, I tend to view anyone... The Market Ticker http://www.freerepublic.com/focus/f-news/2407404/posts#comment Mon, 14 Dec 2009 21:09:12 GMT http://www.freerepublic.com/focus/f-news/2407282/posts President Obama is calling on the financial industry to help dig the economy out of the pit the White House says it helped create, as the president and bank executives headed into a potentially tense meeting Monday morning. President Obama is calling on the financial industry to help dig the economy out of the pit the White House says it helped create, as the president and bank executives headed into a potentially tense meeting Monday morning. The president set the tone for the meeting in an interview broadcast the night before in which he called Wall Street bankers "fat cats"... FOX NEWS http://www.freerepublic.com/focus/f-news/2407282/posts#comment Mon, 14 Dec 2009 17:55:38 GMT