Treasury Misled Public

Goldman to be paid $1bn if CIT fails

The payment stems from the structure of a $3bn rescue finance package that Goldman extended to CIT on June 6 2008, about five months before the Treasury bought $2.3bn in CIT preferred shares to prop it up at the height of the crisis. The potential loss for taxpayers would be the biggest to crystalise so far from the government's capital injection plan for banks.

//snipurl.com/scg8r



Report on Bailouts Says Treasury Misled Public

The inspector general who oversees the government's bailout of the banking system is criticizing the Treasury Department for some misleading public statements last fall and raising the possibility that it had unfairly disbursed money to the biggest banks.

//snipurl.com/scg90



IG Report Finds Paulsen, Bernanke Misled Public on Bank Rescues

Report says then-Treasury Secretary Henry Paulson and other officials were wrong to contend that all nine banks receiving the first round of bailout support -- $125 billion -- were sound.

//snipurl.com/scg96



Firms are getting billions, but homeowners still in trouble

The federal government is engaged in a massive mortgage modification program that's on track to send billions in tax dollars to many of the very companies that judges or regulators have cited in recent years for abusive mortgage practices.

//www.mcclatchydc.com/227/story/76418.html



America is suffering a permanent destruction of jobs

Since the nadir of the last recession in November 2001, the U.S. has lost 839,000 jobs in the private sector, based on data from the Bureau of Labor Statistics -- the first time that's happened over the course of a business cycle since 1980-82. Manufacturing and construction were particularly hard hit.

//www.bloomberg.com/apps/news?pid=20601109&sid=aDx_Srx0Sv8Q


From Information Clearing House



//freepage.twoday.net/search?q=bailout
//freepage.twoday.net/search?q=recession
//freepage.twoday.net/search?q=Treasury
//freepage.twoday.net/search?q=banking+system
//freepage.twoday.net/search?q=Paulsen
//freepage.twoday.net/search?q=Bernanke
//freepage.twoday.net/search?q=Goldman+Sachs
//freepage.twoday.net/search?q=taxpayer
//freepage.twoday.net/search?q=mortgage
//freepage.twoday.net/search?q=homeowner
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