U.S. Takes $9.7 Bil Hit in GM Bailout

President Obama loves taking credit for saving the American auto industry and this week a federal audit reveals that the rescue effort has fleeced U.S. taxpayers out of an astounding $ 9.7 billion. While this may seem inconceivable to most, the numbers don’t lie. The United States Treasury has recorded a $ 9.7 billion loss […]

Markets Rally After 81bn-Pound Spain Bank Bailout

ShareThis Markets Rally After £81bn Spain Bank Bailout 11 Jun 2012 Asian stocks and the euro rose sharply after Spain sought a lifeline for its ailing banks, easing fears that Europe’s debt crisis was about to spin out of control. The markets rallied after Spain asked finance ministers from the 17 euro-using countries to rescue […]

12.6 Billion-Dollar Bailout for Fukushima Operator TEPCO

ShareThis 12.6 Billion-Dollar Bailout for Fukushima Operator TEPCO 10 May 2012 Japan is set to nationalize Tokyo Electric Power, the operator of the ravaged Fukushima Daiichi nuclear power plant, under a ¥1 trillion bailout plan approved Wednesday. The $ 12.6 billion bailout comes at a time when the government itself is reeling under a debt […]

Eurozone seals second Greek bailout after tortuous talks

ShareThis Eurozone seals second Greek bailout after tortuous talks 21 Feb 2012 Euro zone finance ministers sealed a 130-billion-euro ($ 172 billion) bailout for Greece on Tuesday to avert a chaotic default in March after persuading private bondholders to take greater losses and Athens to commit to deep cuts. After 13 hours of talks, ministers […]

Greeks protest cuts on eve of bailout decision

ShareThis Greeks protest cuts on eve of bailout decision 19 Feb 2012 Several thousand Greeks demonstrated on Sunday against punishing austerity measures to reduce the country’s debt, on the eve of make-or-break talks in Brussels on a 130-billion-euro ($ 171 billion) bailout to avert bankruptcy. Riot police shielded the national assembly, braced against a repeat […]

Anger in Greece as parliament to vote on bailout

Greek lawmakers will vote this weekend on a controversial austerity bill that Athens needs to avoid a messy default but which is fuelling a domestic political and social crisis that has brought thousands of Greeks out on the streets in protest. The cabinet approved the draft bill late on Friday – paving the way for […]

Treasury ups auto bailout loss estimate

BY DAVID SHEPARDSON, DETROIT NEWS Washington -The U.S. Treasury Department boosted its estimate of government losses in the $ 85 billion auto bailout by $ 170 million. In the government’s latest report to Congress this month, the Treasury upped its estimate to $ 23.77 billion, up from $ 23.6 billion. Last fall, the government dramatically […]

Japan’s stricken nuclear operator set for $13 bln bailout – sources

ShareThis Japan’s stricken nuclear operator set for $ 13 bln bailout – sources –Tepco’s share price soared on the bail-out news, jumping as much as 8 percent in heavy trade. 26 Jan 2012 Japan is set to launch a $ 13 billion bail-out of the owner of its stricken Fukushima nuclear power plant after the […]

Judicial Watch Petitions Supreme Court over Fed’s Decision to Withhold Bear Stearns Bailout Documents

Judicial Watch, the public interest organization that investigates and prosecutes government corruption, announced today that it filed a petition on October 27, 2011, with the United States Supreme Court on behalf of former Federal Reserve employee Vern McKinley asking the High Court to review a lower court ruling validating the Federal Reserve’s decision to withhold […]

US taxpayers could be forced to foot bill if Fed’s bailout of faltering Eurozone turns sour

ShareThis American taxpayers could be forced to foot the bill if Fed’s bailout of faltering Eurozone turns sour 18 Sep 2011 American taxpayers could end up footing the bill if the United States’ bailout of the faltering Eurozone turns sour… The biggest exposure could come from America’s status as the single largest source of money […]