Word: handouts
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...said Eileen Richardson, executive director of Downtown Streets. “We had one man who used to sit in a wheelchair panhandling outside a store and is now working in the jewelry department of a high-end department store. It’s not just a handout, it’s a hand...
Treasury Secretary Tim Geithner had every reason to think he had seen all of AIG's dirty laundry. The government owned 80% of the company, and Geithner had just orchestrated AIG's most recent handout - its fourth, if you are keeping score, for $30 billion on March 2 - to prevent the teetering insurance giant from going over the cliff and taking the rest of the global financial system with it. AIG had already cost the taxpayers some $170 billion, mostly to repair the damage done by one of its units, AIG Financial Products (AIG FP), which last year alone piled...
...directly or indirectly, also received earlier bailout cash under the Troubled Asset Relief Program (TARP). The group includes some of the most sophisticated investors in the world, prompting critics to question why the companies should not take responsibility for their own financial decisions, rather than accept a U.S. taxpayer handout...
...looking into purchasing those assets, whether through a public-private partnership or through some other mechanism. Part of the stumbling block is price. Paying more than the banks are able to say the assets are worth would certainly lead to criticism that the government is providing another massive handout to the banking industry...
...chronic legislative infighting and revolving political leadership (the country is now on its fifth finance chief and third Prime Minister in two years). Japan's parliament, the Diet, has for the past several weeks been debating legislation surrounding a supplementary budget package that includes a controversial $21.7 billion handout to the Japanese public aimed at boosting consumer spending. But DPJ politicians - smelling blood in anticipation of general elections, which must be held by September but could come before then - might choose to take advantage of Aso's weakness by blocking passage of additional stimulus measures, no matter how pressing...