Bailout Fever: Rush To Judgment
Tags: UNITED States. Dept. of the Treasury; GOVERNMENT guaranty of loans; BANK failures; BAILOUTS (Finance); INDYMAC Bancorp Inc.; FEDERAL Deposit Insurance Corp.; LEGISLATORS -- United States
Related Articles
- Failure Resolution Plans Go Too Easy on Creditors. Whalen, Christopher // American Banker;10/30/2009, Vol. 174 Issue F312, p8
The author argues that U.S. legislation that would give the U.S. Treasury and the Federal Deposit Insurance Corp. (FDIC) powers to resolve failed banks, broker-dealers and insurance underwriters, as well as the companies that own them, does not address the most significant public policy concern....
- Failure Bill Seeks Resolution Change. Adler, Joe // American Banker;7/25/2008, Vol. 173 Issue 143, p20
This article discusses legislation that would get rid of the "least-cost" provisions portion of a law from 1991 that limits federal funding for failed banks. U.S. House Representative David Dreier from California introduced the bill and argues that the U.S. Federal Deposit Insurance Corp. needs...
- Huge FDIC Hit Seen If IndyMac Collapses. Adler, Joe // American Banker;7/10/2008, Vol. 173 Issue 132, p1
The article reports on the potential costs involved for the Federal Deposit Insurance Corporation (FDIC) if the mortgage lender IndyMac Bancorp fails. IndyMac's $10 billion in advances and its outstanding balance of adjustable-rate mortgages means a high cost of resolution for the FDIC. The...
- Bank problems don't have to be yours. // Consumer Reports Money Adviser;Sep2008, Vol. 5 Issue 9, p10
The article discusses the IndyMac Bank seizure by the Federal Deposit Insurance Corporation (FDIC). According to the author, the withdrawals amounting to more than $1.3 billion due to the scrutiny on the bank's mortgage-lending practices urged the FDIC takeover. It is also noted that IndyMac is...
- ABA: Use Bair Loan-Mod Plan. Kaper, Stacy // American Banker;12/15/2008, Vol. 173 Issue 240, p16
The article reports on the loan modification plan proposed by U.S. Federal Deposit Insurance Corp.'s chairman Sheila Bair. The American Bankers Association has called on the U.S. Treasury Department to back the modifications as it enables the government to guarantee up to half of a loan provided...
- Bailout Advances, Support Not Guaranteed. ACKERMAN, ANDREW // Bond Buyer;9/26/2008, Vol. 365 Issue 32970, p1
The article focuses on the U.S. government's tentative agreement on the $700 billion bailout proposed by the Treasury Department. Some Republicans made it clear that they remained opposed to it. It is also unclear if supporters will be able to get enough Republican support for the pact. Senate...
- Will the $700 Billion Government Bailout Work? // Financial Executive;Nov2008, Vol. 24 Issue 9, p9
The article discusses the U.S. government's $700 billion bailout plan for the financial industry. Under enabling legislation the secretary of the Treasury has wide latitude for how the funds are used. In addition, bank-account limits for Federal Deposit Insurance Corporation insurance were...
- Bank Failures Actually Far Fewer Than Predicted For 2008. // Credit Union Journal;1/5/2009, Vol. 13 Issue 1, p3
The article reports on the performance of the banking industry in the U.S. in 2008. According to the author, the reasons for the collapse of 25 banks including Washington Bank and IndyMac Bank include the government's direct investment in healthy institutions, bank debt, guarantee liquidity and...
- Agencies' IGs to Analyze Wamu Failure. Adler, Joe // American Banker;4/16/2009, Vol. 174 Issue 72, p16
The article reports that the inspectors general of the U.S. Federal Deposit Insurance Corp. (FDIC) and the Treasury Dept. will issue a joint report concerning the failure of Washington Mutual Inc. (WaMu) in September 2008. The fact that such a report is not required due to the deal negotiated...
