Despite aid, many banks fail to revive lending

Feb 03, 2009 - Decline in loans twice as sharp among firms that accepted federal help By Binyamin Appelbaum The Washington Post updated 5:48 a.m. ET, Tues., Feb. 3, 2009 The federal government has invested almost $200 billion in U.S. - 0 Comments

How to Detoxify the Banks (Separating the wheat from the chaff. )

Mar 09, 2009 - How to Detoxify the Banks Separating the wheat from the chaff. by Jim Prevor (founder and CEO of Phoenix Media Network, Inc) The Bush and Obama administrations have shared an unwillingness to see any of the major banks go under, hence the problem we have in solving the current banking and financial crisis. Though both presidents pointed to an alleged systemic risk to the economy owing to the size of the big banks, it is probably also true that any administration would be sensitive to the enormous weight these institutions carry as symbols of American prosperity, influence, and power. - 1 Comment

AP study finds $1.6B went to bailed-out bank execs last year

Dec 21, 2008 - By FRANK BASS and RITA BEAMISH, Associated Press Writers Frank Bass And Rita Beamish, Associated Press Writers 6 mins ago Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank performance, but still forked over multimillion-dollar executive pay packages. - 4 Comments

British banks revolt against Obama tax plan

May 25, 2009 - PUBLIC POST * British banks and stockbrokers may refuse to take on American clients if new international tax proposals outlined by President Obama are passed. By Louise Armitstead Last Updated: 12:02AM BST 24 May 2009 The decision, which would make it hard for Americans in London to open bank accounts and trade shares, is being discussed by executives at Britain's banks and brokers who say it could become too expensive to service American clients. The proposals, which were unveiled as part of the president's first budget, are designed to clamp-down on American tax evaders abroad. - 3 Comments

US Loses Power to Appoint World Bank President ((Public))

Oct 13, 2008 - Published on Monday, October 13, 2008 by the Guardian/UK WASHINGTON - The US is to lose its power to appoint the president of the World Bank after the UK's development secretary, Douglas Alexander, brokered a deal to throw open the post to candidates from any country. World Bank President Robert Zoellick attends the opening plenary of the annual International Monetary Fund-World Bank meeting in Washington October 13, 2008. The US is to lose its power to appoint the president of the World Bank after the UK's development secretary, Douglas Alexander, brokered a deal to throw open the post to candidates from any country) Backed by European governments and developing countries, Alexander overcame resistance from the US and Japan to secure a reform he described last night as "a significant step forward". - 1 Comment

the Treasury Department essentially has no idea what banks have done with the astronomical sums they've been handed.

Jan 12, 2009 - Who's Running TARP? You Might Not Wanna Know By Zachary Roth - January 12, 2009, 6:35PM Last week, Congress's oversight panel for the TARP funds confirmed in a report that the Treasury Department essentially has no idea what banks have done with the astronomical sums they've been handed. Given this lack of information, we figured it might at least be helpful to know a bit about a few of the people at Treasury who are in charge of administering the massive program, and what their backgrounds might tell us about the way they've gone about it. - 3 Comments