Sentences with phrase «taxpayer bailout»

If all of this wasn't concerning enough, the very type of derivatives that blew up the giant insurer AIG in 2008 (credit derivatives) are making a big comeback at Citigroup, the recipient of the largest taxpayer bailout of a bank in U.S. history during the 2008 crash.

They got those jobs because President Obama outsourced the staffing of his administration to an executive of Citigroup, Michael Froman, while the bank was both insolvent and receiving the largest taxpayer bailout in U.S. history as a result of its corrupt behavior.

«I acknowledged the leadership of Barak Obama, Chris Dodd, Barney Frank, Blanche Lincoln and other brave Democrats by voting for a strong package of more government rules and regulations, designed so that banking disasters on Wall Street will never require taxpayer bailouts and kite the national debt, ever again.

The current head of the CFTC Gary Gensler had worked with Sen. Phil Gramm and Alan Greenspan to exempt credit default swaps from regulation (Commodity Futures Modernization Act of 2000) which led to the collapse of AIG and has resulted in the largest taxpayer bailout in US history.

In House races from New Jersey to Ohio to California, Democratic operatives are seizing on evidence of GOP candidates» unpaid income taxes, property tax breaks and ties to financial firms that received taxpayer bailout money.

Reality: As Wall Street's top lobbyist Rick Lazio has made $ 8 million the past decade, including a $ 1.3 million bonus in 2009, paid for with taxpayer bailout funds.

Paulson's government position allowed him to oversee the biggest taxpayer bailout of Wall Street in U.S. history — portions of which remained secret for years, like the Fed's covert $ 16 trillion in hidden loans to Wall Street and foreign banks.

The other, led by Sens. Elizabeth Warren of Massachusetts and Sherrod Brown of Ohio, said the bill catered too much to the banks that contributed to the financial crisis and would increase the likelihood of future taxpayer bailouts.

The report includes the graph below, indicating that a blowup at Deutsche Bank would spill out to every major Wall Street bank — banks which are holding almost half of the insured savings deposits in the U.S. — effectively mandating more massive taxpayer bailouts such as those that occurred in 2008.

Maybe what Jamie Dimon is hoping for is that the government will come down on cryptocurrencies and save him — just like they did in 2008 when his company took $ 12billion in US taxpayer bailout money.

Big financial firms started curtailing year - end bashes in 2008 as taxpayer bailouts, populist outrage and weak profits created an environment where lavish celebrations were frowned upon.

If you're serious about «no more taxpayer bailouts,» you'll support strong financial reform, including a new Consumer Financial Protection Agency.

Hummer's image became a serious liability for GM as its bankruptcy and subsequent taxpayer bailout approached.

Corporate raiding, financial fraud, credit default swaps and other derivatives have led to de-industrialization and enormous taxpayer bailouts.

Such disruption can send a chill through the economy, require unpopular taxpayer bailouts and have painful social consequences.

The news shocked conservatives and oil tanker opponents alike: Ottawa is considering a full taxpayer bailout for Kinder Morgan.

And better yet, if the Fed can keep the pensions thinly solvent by pumping up the stock market, Congress and State Governments can defer the inevitable taxpayer bailout of public pension funds — for now.

The push - out rule was supposed to push these trillions of dollars of risky derivatives out of the insured banking unit to prevent another epic taxpayer bailout.

«This decision is misguided and denies the reality that bankrupt foreign companies will be the beneficiaries of an American taxpayer bailout.»

In fact, the system as it stands is what led to a series of massive, costly taxpayer bailouts.

During the financial crisis, prior to the QM rule's existence, the GSEs took a combined $ 187 billion taxpayer bailout when riskier mortgage loans that the GSEs guaranteed devalued, creating catastrophic losses.

Back in the «good old days,» when banks were so unsophisticated that it hadn't dawned on their executives to incorporate taxpayer bailouts into their business models, mortgage lenders required a down payment of at least 20 % of a home's purchase price.

Losses on reverse mortgages were a big reason for the agency's $ 1.7 billion taxpayer bailout last year - and some experts worry it could end up in similar trouble again.

When you contrast this with the 0.35 % current national average interest rate on 1 - year CDs banks are offering, one wonders why banks manage regularly to go broke or require taxpayer bailouts to make ends meet.

At the same time, a series of corporate scandals; failures in the financial, housing, and insurance sectors; and taxpayer bailouts of mismanaged businesses have fostered consumer distrust and skepticism of marketers» messages.

Their shares crashed to multi-year lows, and some received taxpayer bailouts:

Citigroup, however, the bank that spectacularly blew itself up with toxic derivatives and subprime debt in 2008, became a 99 - cent stock during the crisis, and received the largest taxpayer bailout in U.S. financial history despite being insolvent at the time, today holds more derivatives than 4,701 other banks combined which are backstopped by the taxpayer.

But what is not legitimate is to suggest that we're enabling or encouraging future taxpayer bailouts, as some have claimed.

Sure enough, Canada averted the 2008 crisis, stopped the spread of the financial contagion on its southern border and avoided the massive taxpayer bailout forced on Americans.

«Rick Lazio should use some of his $ 1.3 million taxpayer bailout bonus to take a pension law class because this statement shows he doesn't know what he is talking about.»

Citigroup received the largest taxpayer bailout in U.S. history, taking in $ 45 billion in equity from the U.S. Treasury; a government guarantee on $ 300 billion of Citigroup's dubious assets; the Federal Deposit Insurance Corporation (FDIC) guaranteed $ 5.75 billion of its senior unsecured debt and $ 26 billion of its commercial paper and interbank deposits; and the Federal Reserve secretly funneled $ 2.5 trillion in almost zero - interest loans to units of Citigroup between 2007 and 2010.

For instead of allowing the institutions that made risky loans and failed in their fiduciary responsibilities to go under as part of capitalism's «creative destruction,» the bad actors were rescued with government funds and rewarded with taxpayer bailouts — socialism for the wealthy.

Yesterday The New York Times reported that AIG, which received more than $ 170 billion in taxpayer bailout money, planned to pay $ 165 million in bonuses to executives who worked in the AIG business unit responsible for the company's financial collapse.

The corporation does have an ample cash cushion in case of mortgage defaults, but that didn't stop Rosenberg from writing last year that the possibility of a taxpayer bailout is «near the top of our concern list.»

Tell them why you oppose a taxpayer bailout for Kinder Morgan.

The shortfall raises the specter that the agency will require a taxpayer bailout next year for the first time in its 78 - year history.

Five years after the financial crisis, concerns remain about whether blow - ups at big banks could lead to another round of taxpayer bailouts.

They went bankrupt and are only alive and reorganized thanks to the kindness of the taxpayer bailout from you and me.

Citigroup received the largest taxpayer bailout in the history of finance from 2008 through 2010: $ 45 billion in Troubled Asset Relief Program (TARP) funds; over $ 300 billion in asset guarantees; and more than $ 2 trillion in low cost loans.

Out of Citigroup's total notional (face amount) exposure of $ 55.6 trillion in derivatives, $ 52 trillion of that is sitting at its insured depository institution, Citibank, which is still decidedly too - big - to - fail and would require a taxpayer bailout again in a collapse.

The U.S. government paid these obligations at 100 cents on the dollar, despite AIG being insolvent at the time and requiring a $ 185 billion taxpayer bailout itself for making casino - like bets with the big banks.

And third, compensation in the form of stock - based pay encourages CEOs to take excessive risks to boost share prices, risking a financial crisis and taxpayer bailout.

This was the event that prompted then - Treasury Secretary and ex-Goldman CEO, Henry Paulson, to scramble furiously to arrange a Fed / taxpayer bailout of AIG and Goldman.

Each of those four banks also have an outsized presence on Wall Street; each of them received taxpayer bailouts during the 2008 crash; each received secret, below - market interest rate loans from the Federal Reserve during the crisis; and three of them (JPMorgan Chase, Bank of America and Citibank) are currently holding tens of trillions of dollars in derivatives within the insured banking subsidiary — meaning there would be a forced taxpayer bailout if the derivatives blew up the bank.

A taxpayer bailout would have been an utter waste, not recoverable.