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...date the most expensive corporate bailout in American history, requiring $180 billion in government funds. But it may soon have competition. Last week mortgage giant Freddie Mac said it had lost $50 billion in 2008 alone. A look at the company's books suggests the government will have to spend at least triple that much to save the financial firm from collapse. If the housing market worsens, the tab could be even larger...
Citigroup and other banks have also lost money and will need more capital to survive. But in those cases it's not clear who will take the hit - shareholders, bondholders or the government. In the cases of AIG, Freddie Mac and Fannie Mae, however, there is no question where the money will come from. Freddie and Fannie were taken over by the government and put into conservatorship last fall. AIG is currently 80% owned by the government. The losses at those companies are now taxpayer losses. (See 25 people to blame for the financial crisis...
Location: Premium. Lowell is the geographic center of River House life. Quincy and Leverett are seconds away, and Winthrop, Eliot, and Kirkland are sneaky close once you pick up that Lowell-residents-only backdoor swipe access. You can get to the MAC without putting on a sweatshirt in 20 degree weather. The Mt. Auburn latenight food spots are close enough that you feel like your odds of getting mugged are acceptable, as long as you get that burrito. When you rub your eyes and see that it's 11:03 and you have 11 a.m. class...
Instead of one coordinated program to bolster the economy, financial, and credit systems there are a number of piecemeal solutions. Freddie Mac (FRE) yesterday said it would need $30 billion in new funding. AIG (AIG) got billions of dollars in additional assistance and a restructuring of its obligation to the government just last week. The Wall Street Journal is reportingthat several large insurance companies may need substantial aid. Those who may put their hands out include MetLife (MET), The Hartford (HIG), and Prudential...
...MAC pool manager called the cops on Adams upon recognizing a megaphone-wielding rabble-rouser perched on his lifeguard chair in a photo gracing the front of today's Crimson. At the indignant alleged chair-owner's behest, HUPD officers promptly cut the bike lock securing the chair to one of Adam's guardian lions and toted the chair out of the dining hall...