Word: bailouts
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...tycoon is scheduled to appear as the star witness at a House Oversight Committee hearing on AIG's fall and its economic repercussions. A committee aide called him "an investigative asset" who can further understanding of what happened to the corporate colossus that has received $170 billion in government bailout funds. (See the five lessons to learn from the AIG bonus blowup...
...classmates. Wagoner, who graduated from the Business School in 1977, stepped down on Monday at the request of the Obama administration, which has sought to force more rapid changes within the three beleaguered American automobile manufacturers that have received assistance from the administration’s multi-billion dollar bailout fund. GM lost $30.9 billion last year, and its share price has fallen to as low as $1.27 from a high of $35 three years ago. The company has been criticized for failing to anticipate plummeting demand for gas-guzzling SUVs and neglecting to explore energy-efficient technology, causing...
...financial quarter on Wednesday and demonstrated over everything from the meltdown in the financial system to the growing threat from climate change. Some people got a little too excited; after protesters broke windows at the nearby headquarters of the Royal Bank of Scotland - which recently needed a government bailout to avoid going under - one or two people looted the lender's computer equipment. A few dozen more scuffled with police outside, but overall the protest was less violent than many had feared...
...largely overlooked is what the bailout would really cost the banks. Yes, banks would get cash for loans they can't sell without government assistance. But these same banks would also be forced to book a large accounting loss on the sale of the loans, further eroding common equity-a key measure watched by stockholders...
...help shoring up their liquidity. To date, approximately $15 billion of federal money has been pumped into local banks. Company buyouts financed by Abu Dhabi - the capital of the U.A.E. and the only emirate with petroleum wealth - are believed to be forthcoming, though no officials will discuss details. "Any bailout from Abu Dhabi will come very privately," says Christopher Davidson, author of Dubai: The Vulnerability of Success. "Abu Dhabi doesn't want the Dubai brand to suffer, even if Dubai has disgraced itself with its economic planning." (See how Dubai placed among the top 10 architectural postponements...