One of Wall Street’s biggest beneficiaries of a U.S. taxpayer bailout at the height of the country’s 2008 economic downturn says it will not take part in a lawsuit against the government that claimed terms of the rescue were too tough. The board of giant insurer American International Group decided Wednesday against joining a $25 […]
Wall Street Bailout Beneficiary Rejects Suit Against Its Rescuer: US Taxpayers
Posted January 9th, 2013 at 3:40 pm (UTC-5)
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Wall Street Bailout Beneficiary Weighing Suit Against Its Rescuer: US Taxpayers
Posted January 9th, 2013 at 2:20 pm (UTC-5)
One of Wall Street’s biggest beneficiaries of a U.S. taxpayer bailout at the height of the country’s 2008 economic downturn is now weighing whether to sue the government on grounds that terms of the rescue were too onerous. Lawmakers in Washington have reacted angrily at the prospect that the giant insurer American International Group might […]
IMF: Greece Missed Bailout Targets
Posted July 12th, 2012 at 12:40 pm (UTC-5)
The International Monetary Fund says Greece has missed several financial targets it pledged to adopt as it secured its second bailout earlier this year. The IMF did say Greece kept some promises linked to the $159 billion rescue package from the IMF and its European neighbors. Greece’s new coalition government is seeking to renegotiate the […]
Greece Outlines Plan for Bailout Revisions
Posted June 23rd, 2012 at 1:45 pm (UTC-5)
Greece’s new coalition government is developing proposed revisions to tough austerity measures that were imposed under an international bailout agreement. The cash-strapped government issued a statement on Saturday that says it would try to repeal some taxes, freeze public sector layoffs and extend deadlines for imposing fiscal reforms by at least two years. The government […]
In Full Campaign Voice, Obama Praises Auto Industry Bailout
Posted February 28th, 2012 at 2:15 pm (UTC-5)
President Barack Obama has given a rousing election-year endorsement of the government’s $80 billion bailout that rescued the once-faltering U.S. auto industry. Mr. Obama saluted a convention of unionized autoworkers in Washington Tuesday. He said they make him proud even as Republican presidential contenders seeking to win their party’s nomination to run against him in […]
Even with Bailout, Greek Credit Downgraded
Posted February 22nd, 2012 at 9:40 am (UTC-5)
The Fitch financial services company is again downgrading the credit rating of Greece, saying that the debt-ridden country is “highly likely” to default on its financial obligations even after securing a new bailout from its European neighbors. Fitch said Wednesday it has cut Greece two notches , pushing the credit standing for the Athens government […]
Greek PM: Much Work Before New Bailout
Posted February 22nd, 2012 at 2:55 am (UTC-5)
Greek Prime Minister Lucas Papademos says the country has a lot of work to do before getting the new $172-billion bailout from the European Union and International Monetary Fund. The Greek parliament has agreed in principle to the package of spending and job cuts as demanded by the EU and IMF. The lawmakers must now […]
Eurozone Ministers Approve New Greek Bailout
Posted February 21st, 2012 at 8:25 pm (UTC-5)
Greek Prime Minister Lucas Papademos says the country has a lot of work to do before getting the new $172 billion bailout from the European Union and International Monetary Fund. The Greek parliament has agreed in principle to the package of spending and job cuts as demanded by the EU and IMF. The lawmakers must […]
Eurozone Ministers Approve New Greek Bailout
Posted February 21st, 2012 at 2:35 pm (UTC-5)
Eurozone finance ministers have approved a new $172-billion bailout for Greece, the second for the debt-ridden country in two years. The financial-rescue package could reduce the Greek government debt from about 160 percent of the country’s economic output to just more than 120 percent by 2020 – the maximum debt level considered sustainable by the […]
Greece Bailout Brings Relief and Skepticism
Posted February 21st, 2012 at 11:45 am (UTC-5)
The $172-billion bailout for Greece was met with a mixed reaction on Tuesday, with Greeks expressing relief and skepticism about whether the measure will put the country on the road to recovery. Hours after Eurozone finance ministers passed the measure, protesters lined up in front of the labor ministry shouting and holding a sign “Troika […]
