Word: bail
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Dates: during 2000-2009
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...Geithner's staff made the discovery that would infuriate nearly everyone in Washington. On March 10, the Secretary learned, 10 days after his staff first got wind of it, that AIG had paid out $165 million in retention bonuses to executives at the unit that compelled the U.S. to bail out the company in the first place. It took Geithner until 7:40 the next night to place what must have been a tense phone call to AIG's newish CEO, Ed Liddy. The bonuses were not tenable; they had to be canceled, he demanded. Liddy, a dollar-a-year...
Address the anger. The public is mad about having to bail out the financial institutions who got the world into this mess - and the recent revelations about payouts to fat-cat executives at AIG, RBS and elsewhere are stoking the anger. It's time for some symbolic action. One suggestion: an agreement that every firm receiving taxpayers' money should pay its employees the same as other public-sector workers, such as teachers. That would assuage public fury, and provide an incentive for the banks and insurers in question to sort out their problems fast...
...France on March 19, with early turnout suggesting participation would easily surpass the 2.5 million people who answered the Jan. 29 strike call. Beautiful weather helped swell the ranks of corteges marching throughout the day to protest the modesty of Sarkozy's stimulus package - especially compared to the mighty bail-out effort accorded to the banks and financial groups who detonated the country's crisis. The marches began in Marseille, where people carried banners reading THEY ARE THE PROBLEM; WE ARE THE SOLUTION and hoisted posters ridiculing Sarkozy's refusal to pledge money to boost spending that said: YESTERDAY...
...While there have not been any proposals to sell assets held by the U.S. government, it may come to that if tax receipts are undermined by the recession and spending continues to rise in order to bail out financial institutions and add jobs to the economy...
...After Madoff's guilty plea, Judge Chin, citing flight risk, denied bail, sending Madoff to jail immediately. The charges against him could result in a sentence of up to 150 years in prison. He will face sentencing June...