Word: bailout
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Geithner's first big day as Treasury Secretary: a speech at 11 outlining the revamped bank bailout that he has redubbed the Financial Stability Plan, then an appearance before the Senate Banking Committee at 2:30 to take questions on the topic...
...Andy Hornby, the former chief exec of HBOS, which was taken over last year by rival Lloyds to prevent a run on the bank, said he was "extremely sorry for the turn of events." Dennis Stevenson, Hornby's chairman at HBOS - which, along with Lloyds, got a $25 billion bailout from the government in return for 43% of the combined group - was "profoundly and unreservedly" apologetic. And really giving it his all, Fred Goodwin, ex-boss of the Royal Bank of Scotland (RBS), rescued by British taxpayers last fall with an even bigger bailout, said he "could not be more...
...truth, the apologies - much like the banks' dodgiest assets - are of limited value these days. Failures at HBOS and RBS forced the British government into a $55 billion bailout in October, saddling it with more than a trillion pounds (roughly $1.4 trillion) in liabilities. In a jam-packed committee room, the former bankers picked over their biggest mistakes. Shelling out some $15 billion for a chunk of rival Dutch lender ABN Amro in mid-2007 - when all the signs were pointing to a testing time for banks - was "a big mistake," Tom McKillop, RBS's former chairman, told the committee...
...question now is what Obama and his team learn from this experience. As he tries to maintain the consensus for another bank bailout, entitlement reform and perhaps health care reform, will he build his legislative coalitions from the left, as he did with the stimulus? Or construct them more with a centrist audience in mind...
...Round-Trips. STA Travel is offering a "Travel Bailout: 5 Days 5 Deals." Every day from Feb. 9 to Feb. 13, 20 tickets to a single destination - Miami, L.A., New York City, Denver or Chicago - will be offered for just $100 round-trip. The city of the day is announced on the website at 11 a.m. EST, but you have to call 800-360-9273 starting at 1 p.m. EST to get a ticket. Hope you've got fast redial reflexes...