Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 281 - 290 of 323 results for "Taxpayers"

In defense of Citi

BENJAMIN ONG  |  TUESDAY, 25 NOV 2008
... financial institutions that followed Lehman Brothers' collapse, America has now no other choice but to douse the flames with taxpayers' money, lest it burns the whole house down. Citi has the largest financial services network in the world with around ...

Three rich beggars

BENJAMIN ONG  |  FRIDAY, 21 NOV 2008
... comments to the CEO's of the big three US carmakers during a hearing where they have been begging Congress to give them taxpayers' money to bail them out. Ackerman continued, 'It's almost like seeing a guy show up at the soup kitchen in high-hat and ...

AIG gets another A$57 billion bail-out

ALEX DUNNIN  |  TUESDAY, 11 NOV 2008
... year it turned a $A3.5 billion profit. This brings to more than US$160 billion the money the insurer has needed from US taxpayers, almost one-quarter of the US$700 billion bail-out package established by Congress in October. As part of the latest deal ...

Mortgage funds' phantom lifeline

ALEX DUNNIN  |  WEDNESDAY, 29 OCT 2008
... regulatory system the government and the nation have spent decades building. "No government can, in good conscience, put taxpayers' dollars at risk to support financial institutions which are not open, transparent, and properly accountable to Australian ...

No more parachute payments

MICHELLE BALTAZAR, MICHAEL HOBBS  |  WEDNESDAY, 8 OCT 2008
... bailed out, would also potentially receive US$6.95 million. But investors have reacted grimly to the news given that taxpayers were called in to prop up both banks following the credit contagion. "Following my decision to resign as chief executive officer ...

Rescuing the rescue package

BENJAMIN ONG  |  THURSDAY, 2 OCT 2008
... when it is sent back to the House of Representatives for their vote. To make the US$700 billion plan more palatable to taxpayers, Congress has reportedly included tax cuts and increased bank account insurance to the bill. Whether these sweeteners are ...

Head or tails?

BENJAMIN ONG  |  WEDNESDAY, 1 OCT 2008
... the US House of Representatives who voted 'NAY' to the plan's passage are worried about the amount of money that US taxpayers will spend to bail out the (former) fat cats of Wall Street. Imagine a taxpayer ringing his representative asking, 'why is the ...

Emergency Economic Stabilization Act of 2008

BENJAMIN ONG  |  MONDAY, 29 SEP 2008
... request. A limit of US$700 billion is set for all purchases and allows Congress to veto purchases above the limit. US taxpayers are given ownership interest in companies that take advantage of the bailout package. Profits from the sale of Government-owned ...

Greater fool with no shorts

BENJAMIN ONG  |  MONDAY, 22 SEP 2008
... reassuring. Investors are now assured that, at the end of the day, there will always be a 'greater fool.' In this case, the US taxpayers are the 'greater fool' eventually buying all the toxic investment instruments flogged off by investment bankers who ...

America on its knees

BENJAMIN ONG  |  THURSDAY, 18 SEP 2008
... it becomes an avalanche, look out below." So far this year, the US government has committed around US$320 billion in taxpayers money to salvage four sinking financial institutions - Bear Sterns (US$30 billion), Fannie/Freddie (US$205 billion), AIG (US$85billion). ...