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

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TweetYumPresident 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

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TweetYumShareThis 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

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TweetYumShareThis 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

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TweetYumShareThis 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

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TweetYumShareThis 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 […]