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The number of government-aided U.S. banks in danger of failing has grown about 15% in the past six months, The Wall Street Journal has reported. The economy has continued to batter many struggling institutions, with 98 bailed-out banks — up from 86 in the second quarter — now at risk.

Continue reading Bailed-Out Banks Remain in Danger of Failing: 98 Banks at Risk

Bailed-Out Banks Remain in Danger of Failing: 98 Banks at Risk originally appeared on DailyFinance on Mon, 27 Dec 2010 19:30:00.

Filed Under: Economy, Taxes, Credit

Though most Americans wish that Congress would rein in excessive pay on Wall Street, that won’t happen while the huge campaign contributions keep flowing. And the financial industry’s big money shell game drains away something more precious from our society than money — it siphons off talent.

Continue reading Big Wall Street Bonuses Carry a Hidden Cost for Society

Big Wall Street Bonuses Carry a Hidden Cost for Society originally appeared on DailyFinance on Tue, 14 Dec 2010 09:26:00.

Filed Under: Columns, Economy, Taxes

Rep. Ron Paul, author of the best-selling book End the Fed, will head the House subcommittee overseeing the Federal Reserve.

Spencer Bachus, House Financial Services chairman-elect, selected Paul, 75, to lead the domestic monetary policy subcommittee in the next session of Congress, Bloomberg News reported. Paul is a Texas Republican.

“This is the leadership team that crafted the first…

Continue reading Ron Paul, Author of ‘End the Fed,’ to Chair Monetary Subcommittee

Ron Paul, Author of ‘End the Fed,’ to Chair Monetary Subcommittee originally appeared on DailyFinance on Fri, 10 Dec 2010 07:37:00.

Filed Under: Economy, People, Credit, Currency

The federal governments bailout program has earned the taxpayer nearly $35 billion in the last two years, The Associated Press said.

Income from the Troubled Asset Relief Program (TARP) rose by almost 17% through November compared with the estimate in October, the AP said.

Part of the extra income came from the government’s ongoing sale of stock in Citigroup (C). The government sold off the last…

Continue reading Bailouts Earn $35 Billion for U.S. Taxpayers

Bailouts Earn $35 Billion for U.S. Taxpayers originally appeared on DailyFinance on Fri, 10 Dec 2010 06:42:00.

Filed Under: Company News, Economy, American International Group, Citigroup, General Motors, Taxes, Insurance, Credit, Autos

Insurance giant American International Group on Wednesday signed an agreement with the government that details its plan to repay its government loans. Meanwhile, The Wall Street Journal reports that the government plans to sell much of AIG’s stock in the next few months.