So President Bush agreed to use part of the $ 700 billion set aside for
bailing out the financial industry for rescuing GM and Chrysler (see U.S. Automakers Get Federal Bailout).
After all, in the wake of the crisis many Western governments, including France and the United States,
bailed out their financial sectors and many of their leading companies.
Latvia has been burdened with the world's most regressive tax system, while Iceland and Ireland have become record setters in tapping taxpayers to
bail out financial...
And he backed Bush's Troubled Asset Relief Program, to
bail out the financial industry during the last recession, an initiative that was anathema to Tea Party supporters, including many in his district.
There are two reasons to
bail out a financial company.
They want to
bail out financial company balance sheets without creating inflation that the average person can notice.
If we had to do bailouts, why did
we bail out financial holding companies, which are not systemically important, instead of their systemically critical subsidiaries?
The US Federal Reserve has stepped in to
bail out the financial sector, cutting its discount rate and, more importantly, encouraging banks to borrow directly from the Fed to finance mortgage lending.
Not exact matches
At the nadir of the
financial crisis in early 2009, Scotiabank CEO Rick Waugh again warned that foreign competitors (freshly
bailed out by their respective governments) could wreak havoc on Canada's Big Six.
A three - pronged global
financial storm is brewing, and it's a sure bet resources sales to China won't
bail WA
out this time.
Some banks weren't able to lend for a while because of TARP,» Geshwiler says, referring to the Troubled Asset Relief Program, the federal government's program for
bailing out banks hit hard in the
financial crisis.
In 2008, at the start of the
financial crisis, Freddie Mac, along with its sister company Fannie Mae, was on the hook for piles and piles of unwise mortgage loans, and had to be
bailed out by the government.
The government stopped short, however, of
bailing out the company as it did with major banks during the 2007 - 09
financial crisis.
Most recently, limits to banking executives» pay were imposed by the Treasury on
bailed out banks after the 2008
financial crisis.
Despite that,
financial institutions made over $ 152 billion in profit in 2014 — the most profitable year on record, and three of the four largest
financial institutions are 80 percent bigger today than they were before we
bailed them
out.
AIG nearly failed during the
financial crisis and had to be
bailed out by the US government.
Dexia, which has been
bailed out twice since the
financial crisis, lost $ 774 million on mortgage - backed securities, according to court records.
After all, we were told at the time that if taxpayers didn't open their wallets and
bail out the banks, we could face a complete meltdown of the global
financial system and an economic fate rivaling the Great -LSB-...]
Because of the extreme leverage, the Federal Reserve and Wall Street investment banks had to
bail the fund
out in order to prevent widespread
financial havoc.If you want to read a fantastic story about LTCM, we recommend you check
out When Genius Failed.
The German government has had to
bail out German banks in Düsseldorf and in Saxony — banks that had faith in the packaged mortgage debt that U.S.
financial institutions and money managers were selling them.
The guiding mentality of Tony Blair - style «New Labour» policy is economic loyalty to Europe's
financial centers as government spending is slashed, public infrastructure privatized and banks
bailed out with «taxpayer» burdens that fall mainly on labor.
Dediu also pointed to Apple's recent $ 2.3 billion investment in «product tooling, manufacturing process equipment and infrastructure,» believing the cash was used to help
bail out Sharp, which had been in
financial straits in 2012.
But Fed officials weren't ready for the unprecedented steps, such as
bailing out the giant insurer, American International Group Inc., that they soon would be taking in a tumultuous year that transformed the central bank from obscure guardian of interest rates to aggressive fighter of
financial crises.
And the governments don't want to have to
bail those guys
out like they had to bailout the banks back in the first
financial crisis.
It's tempting to believe that Fed easing can
bail the economy and
financial markets
out of the consequences of this speculation.
In its wake, the federal government
bailed out banks and automakers, investors lost confidence in the markets, and many questioned the viability of the
financial system.
They are more willing to
bail out the big
financial institutions than to
bail out savers, pensioners, Social Security recipients and other small fry.
This stops bank failures disrupting money and payments and hence helps achieve monetary outcomes desired by the Austrian school of economics: reducing excessive state interference in the market for credit (through bank regulation, lender of last resort and
bail -
out) and discouraging unsustainable money and credit expansions (leading to
financial crisis and depression).
The
bail -
out, first requested in June 2012, was delayed partly because of concerns expressed by eurozone states, notably Germany, that its
financial sector was opaque, thus aiding money laundering.
In addition, he said, large
financial institutions were encouraged to engage in risky behavior because they knew the federal government would
bail them
out.
GOP: 2 useless wars, 2 trillion wasted, 4,500 dead US soldiers, 20,000 injured, Motgage crisis,
financial crisis, big gifts to Wall Street to
bail them
out... and Dumya Busch.
Real Madrid's array of talent isn't too shabby either and should Jose Mourinho's club get into a spot of
financial bother, the Spanish government will act immediately and
bail them
out because they're that important to Spanish culture it's almost as if they're a political institution.
«As chief global economist of Bear Stearns for 15 years, David Malpass not only helped cause the
financial collapse, he made millions and forced taxpayers to
bail him
out,» said Gillibrand campaign spokesman Glen Caplin.
For him to pontificate about the poor when he has presided over a country where the gap between the rich and the poor has actually INCREASED and he has
bailed out the greedy bankers who have rubbed our noses in our own
financial difficulties by awarding themselves huge wadges of OUR money, given to them by a grateful PM.
When Greece (not a large country) does the same, they have to
bailed out by everyone elseGermany, lest they sink the whole
financial system.
But neither the African governmental officials nor the private foreign banks who made the decision to loan in the first place lose
out, as European and North American governments step in to provide further
financial assistance for African countries as they begin to lapse on loan repayments: «In effect, public money from the governments of industrialised countries -LSB-...] helped to
bail out the private creditors» (p. 33).
It doesn't matter what country you pick across the world, Ultra high speed rail projects are being cancelled, scaled back,
bailed out or flogged off, and services cut due to
financial problems caused by the grossly over-optimistic passenger forecasts used to justify their construction.
The government owns 84 % of the Royal Bank of Scotland and 43 % of Lloyds, after
bailing out the two banks at the height of the global
financial crisis.
The collapse or forced
bail -
outs of a series of large,
financial institutions in 2008 threw both markets and governments into turmoil.
Cuomo argued that the city wasn't doing its fair share, saying it is no longer in the
financial mess it was in the 1970s, when the state helped
bail it
out.
It is clear that these fat cats who want the public to
bail them
out like AIG and Goldman Sachs; or the Speyer deal with Stuyvesant Town and a whole host of other scams, are organizing because they fear losing their «special treatment» like a West Street Headquarters will a half billion dollar real estate tax exemption; or the tax credits for complex real estate deals that made Related into a
financial and real estate behemoth without really doing much to improve anything... It bothers these dukes and barons that the city helps the needy.
Unite joint general secretary Derek Simpson has also condemned the «spivs and the speculators» in business and said if the government could find money to
bail -
out the
financial sector, it could «find the money to modernise this important public service».
Speaking on the sector's
Financial Services Compensation Scheme bill from the
bail out of Bradford and Bingley and the Icelandic banks, he said «what is notable... is that there has been no requirement for any government bailout of the building society sector; rather difficulties have been dealt with within the sector.
The Government owns almost 80 % of the bank after it was
bailed out at the height of the 2008
financial crisis.
Well, allowing Scotland to keep the pound — an arrangement known as «currency union» — means British taxpayers would have
bail it
out if there was another
financial crash.
As budget negotiations — which are conducted behind closed doors among the governor and three top legislative leaders,
out of sight of even other lawmakers — unfolded over the past week, it became increasingly clear that the Legislature would punt policy issues such as gun control or
bail reform to after the budget's April 1 deadline, in favor of
financial considerations.
Town of Marlborough Supervisor Chris Cerone, a Republican who attended the rally, said he supports Cuomo's plan to
bail the state
out of its
financial problems and he would consider endorsing him.
In the
financial crisis of 2008/2009, many countries
bailed out their banks.
The
financial troubles prompted talk about lowering the state's share of the facility's revenue, but Cuomo said he doesn't want to «get into the business of
bailing out private concerns.»
Open Europe, the Eurosceptic thinktank, also gave only a qualified approval: «Those outside the eurozone and banking union should not be discriminated against, will not participate in eurozone
bail -
outs and can keep their own
financial supervision macro pro prudential regulation.»