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Images: (1) via blog.modernmechanix.com; (2) via paleo-future.blogspot.com(3) via blog.modernmechanix.com(4) via dself.dsl.pipex.com; (5) via blog.modernmechanix.com; (6) via blog.modernmechanix.com;(7) via mediabistro.com; (8) & (9) via blog.modernmechamix.com
Bush Prepares Request for Rest Of Bailout Funds
If Congress Votes Down Measure, Veto Power Could Come Into Play
By David Cho and Lori Montgomery
Washington Post Staff Writers
Saturday, January 10, 2009; Page A01
Senior Bush administration officials, consulting with the Obama transition team, have prepared a plan to ask lawmakers for the second half of the $700 billion […]
AIG Should Reveal Extent of Bonuses, Cummings Says (Update2)
By Hugh Son and Erik Holm
Dec. 16 (Bloomberg) — American International Group Inc. Chief Executive Officer Edward Liddy may face a congressional hearing to explain “the full extent” of the insurer’s plan to give bonuses to as many as 7,000 people so they won’t quit.
Liddy should testify […]
Executive Pay Limits May Prove Toothless
Loophole in Bailout Provision Leaves Enforcement in Doubt
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By Amit R. Paley
Washington Post Staff Writer
Monday, December 15, 2008; Page A01
Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that […]
Tulsa World
Inhofe: Cancel the ‘blank check’
By JIM MYERS World Washington Bureau
11/16/2008
Last Modified: 11/16/2008 2:31 AM
He criticizes Henry Paulson for changing the $700 billion bailout plan.
WASHINGTON — U.S. Sen. Jim Inhofe said Saturday that Congress was not told the truth about the bailout of the nation’s financial system and should take back what is left of […]
A Quiet Windfall For U.S. Banks
With Attention on Bailout Debate, Treasury Made Change to Tax Policy
By Amit R. Paley
Washington Post Staff Writer
Monday, November 10, 2008; A01
The financial world was fixated on Capitol Hill as Congress battled over the Bush administration’s request for a $700 billion bailout of the banking industry. In the midst of this […]
Wall Street banks in $70bn staff payout
Pay and bonus deals equivalent to 10% of US government bail-out package
* Simon Bowers
* The Guardian,
* Saturday October 18 2008
Financial workers at Wall Street’s top banks are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, […]
This piece is from the Hill.com.
Kucinich says not enough votes for bailout
By Kevin Bogardus
Posted: 09/28/08 03:31 PM [ET]
A prominent liberal Democratic lawmaker said Sunday there are not enough votes to pass the bailout package as it stands now.
“I will tell you right now I don’t know if they have votes,” said Rep. Dennis Kucinich (D-Ohio). […]
but look at some of the sections of the proposal and other money-burning incidents from the reign of the junior king.
Thanks to Think Progress for the following tidbits.
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Sec. 8. Review: Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any […]
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…which is a lot more than he did during the Katrina fiasco.
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The New York Times
March 17, 2008
Bush, Praising Fed’s Intervention, Faces Criticism
By STEVEN LEE MYERS
WASHINGTON — As President Bush welcomed the Federal Reserve’s sweeping intervention in the financial markets, his administration faced accusations Monday that it supported the bailout of a prestigious investment bank while […]
The New York Times
March 17, 2008
JP Morgan Pays $2 a Share for Bear Stearns
By ANDREW ROSS SORKIN
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In a shocking deal reached on Sunday to save Bear Stearns, JPMorgan Chase agreed to pay a mere $2 a share to buy all of Bear — less than one-tenth the firm’s market price on Friday.As part of the […]