User: newstrust Topic: Business
Category: Finance :: Bailout
Last updated: May 16 2013 08:48 IST RSS 2.0
 
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Robert Scheer | Volker Rules 4.2.2010 Truthout.com

Finally President Barack Obama has come to his senses on financial regulation. His endorsement of what he calls the "Volcker Rule" for once puts him squarely on the side of ordinary Americans as opposed to the banking bandits who have so thoroughly fleeced the public.

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Senators attack bailout bonuses 4.2.2010 Politico
Sens. Boxer and Webb keep at it, even though previous efforts went down in flames in the Senate.
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Boxer, Webb target Wall Street bonuses 4.2.2010 The Hill

Sens. Barbara Boxer (D-Calif.) and Jim Webb (D-Va.) unveiled a bill Thursday to tax extravagant bonuses paid by bailed-out firms.

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New York filing civil charges against BofA, former CEO 4.2.2010 San Jose Mercury News: Business
NEW YORK — The New York Attorney General's Office said Thursday it is filing civil charges against Bank of America and its former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch when it acquired the Wall Street bank in late 2008.
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NY AG Files Fraud Charges Against BofA CEO 4.2.2010 WCCO: National
The New York Attorney General's office said Thursday it is filing civil charges against Bank of America and its former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch when it acquired the Wall Street bank in late 2008. Civil charges were also being filed against Joe Price, the bank's former chief financial officer.
Coats Lobbied For PhRMA, Wall Street Banks 4.2.2010 The Hotline
Ex-Sen. Dan Coats (R) has spent the past several years advocating on behalf of pharmaceutical companies, major health care firms and big corporations, according to a client roster provided to Hotline OnCall . Coats, a registered lobbyist at the powerhouse firms King & Spalding and Verner Liipfert Bernhard McPherson & Hand, counts PhRMA and the Healthcare Leadership Council, an organization made up of health care company CEOs, among his clients. He has also aided the New York Stock Exchange, Goldman Sachs, Merrill Lynch and Bank of America. All 3 big banks accepted bailout funds, a Dem source pointed out. Coats also did business with Bombardier, the Canadian aerospace and railroad company that manufactures popular regional jet ...
Cuomo Sues Bank of America as It Settles With S.E.C. 4.2.2010 International Herald Tribune: Business
The attorney general accused the bank and two executives of securities fraud. Meanwhile, the bank settled an S.E.C. claim for $150 million.
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Bank of America sued over Merrill 4.2.2010 BBC: World
Legal action has begun against Bank of America and its former bosses, accusing them of duping investors and taxpayers during the takeover of Merrill Lynch.
BofA charged with ‘duping’ shareholders 4.2.2010 Financial Times US
Bank of America and its former top executives were facing civil charges over allegedly misleading their shareholders about losses at Merrill Lynch and misleading the government in order to get $20bn in Tarp funds.
New York AG filing civil charges against BofA 4.2.2010 Star Tribune: Latest
The New York Attorney General's office said Thursday it filed civil charges against Bank of America and its former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch before it acquired the Wall Street bank in early 2009.
Volcker Rules 4.2.2010 Commondreams.org Views
by Robert Scheer

Finally President Barack Obama has come to his senses on financial regulation. His endorsement of what he calls the “Volcker Rule” for once puts him squarely on the side of ordinary Americans as opposed to the banking bandits who have so thoroughly fleeced the public.

read more

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Ameriprise profit exceeds analyst estimates 4.2.2010 Star Tribune: Business
Webb, Boxer, Slaughter would tax bonuses at bailed-out firms 4.2.2010 The Hill

Democrats in the House and Senate are making a new push to tax bonuses.

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Bank of America says it won’t oppose Obama’s regulatory plan 3.2.2010 Boston Globe: Business
Bank of America says it won’t oppose Obama’s regulatory plan
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PNC to sell unit, repay TARP funds 3.2.2010 Boston Globe: Business
PNC to sell unit, repay TARP funds
Volcker calls on Congress to pass banking restrictions 3.2.2010 Twincities.com: Business
WASHINGTON — The federal safety net for commercial banks should protect depositors, not speculators, former Federal Reserve Chairman Paul Volcker told senators Tuesday, urging them to pass the so-called Volcker Rule that would ban banks from trading for profit and that would restrict the size of the biggest banks.
ThinkFast: February 2, 2010 2.2.2010 Think Progres
Goldman Sachs may reduce CEO Lloyd Blankfein’s bonus amid uproar over the reported $100 million he is expected to receive. “They have made a number of moves to try to ameliorate the issues,” said Alan Johnson, a Wall Street consultant. “I would be shocked if it didn’t have an impact on his and everybody else’s [...]
Senate Democrats in Conn. want to tax TARP bonuses 2.2.2010 Boston Globe: Connecticut
Senate Democrats in Conn. want to tax TARP bonuses
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‘Everything that could go bad, did not’ 1.2.2010 Financial Times US
The man charged with averting a global financial meltdown says the big calls were the right ones, writes Krishna Guha
Geithner Testifies: What Did He Decide About AIG Payouts? 29.1.2010 Common Dreams: Headlines
by Greg Kaufmann

Treasury Secretary Timothy Geithner was summoned to testify before the House Committee on Oversight and Government Reform yesterday in order to answer two questions: why did he sign off on AIG paying the Big Banks full value on insurance for bad assets like mortgage-backed securities--using $62 billion in taxpayer money--at a moment when everyone else was taking losses?

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