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Tag Archives: bailout

Ally to pay government $5.2B for preferred stock

DETROIT — Auto financing and banking company Ally Financial took a big step toward exiting U.S. government ownership Tuesday, announcing a deal to pay taxpayers $5.2 billion for preferred stock granted in a 2009 bailout during the financial crisis. Ally, ...

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Bernanke to give deposition in AIG bailout lawsuit

WASHINGTON — A U.S. judge has ordered that Federal Reserve Chairman Ben Bernanke can be questioned in a lawsuit against the government filed by the former head of American International Group Inc. It is rare for a Fed chairman to ...

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Facing backlash, AIG won’t join lawsuit against U.S.

NEW YORK — Facing a certain backlash from Washington and beyond, American International Group won’t be joining a shareholder lawsuit against the U.S. government. AIG was legally obligated to consider joining the lawsuit being brought against the government by former ...

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Bernanke defends Fed response to financial crisis

WASHINGTON — Chairman Ben Bernanke said Friday that the Federal Reserve was left with few good options when it stepped in to shore up the largest U.S. financial institutions during the 2008 crisis. Bernanke defended the central bank’s actions to ...

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Inspector General: Foreclosure aid program flawed

WASHINGTON — The Treasury Department rushed out a major revamp of its foreclosure-prevention program in 2010, limiting the plan’s ability to help people who are unemployed or owe more than their homes are worth, a government watchdog says. Treasury’s Hardest ...

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Big banks must show break-up plans under new rule

WASHINGTON — The largest U.S. banks must show how they would break up their assets if they were in danger of failing, under a rule approved Tuesday. The Federal Deposit Insurance Corp. voted to require banks with $50 billion or ...

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