The Financial Bailout Fiasco

November 28, 2008

Definition: "a rescue from financial distress"

(AP) — Everyone seems to want one, but apparently a lot of Americans aren't sure what exactly a "bailout" is.

Bloomberg -- The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday.

Eighteen Banks join the larger financial firms recieving cash from the US taxpayers.
They are
1. M&T Bank Corp,

Given the abysmal performance by Detroit's Big Three, it would be better to send each employee a check than to waste it on a bailout, says David Yermack.

11/16/08

Michael Nutter mayor of Philadelphia said, cities need help just like financial institutions.

bailoutsleuth.com

Forbes
Elizabeth Moyer
Fighting the financial crisis has put the U.S. on the hook for some $5 trillion a report says. So far.

Short Definition:
Streamlined Modification Program is a change to the original mortgage terms. It may include

Federal Reserve Map On top of the 700 Billion Bailout approved by Congress the Fed has loaned 2 Trillion lately to banks

Democratic leaders in Congress asked the Bush administration on Saturday to provide more aid to the struggling auto industry, which is bleeding cash and jobs as sales have dropped to their lowest leve

Economists Jackie and Dunlap on bailouts

Although some of the 30-plus banks that are getting money from the Treasury Department through its $700 billion financial-industry rescue program have cut dividends in response to tough financial cond