Search results
Results from the WOW.Com Content Network
The revised plan left the $700 billion bailout intact and appended a stalled tax bill. [129] The law has three major divisions, Division A: the Emergency Economic Stabilization Act of 2008; Division B: Energy Improvement and Extension Act of 2008, and Division C: the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. [11]
The failure of IndyMac Bank on July 11, 2008, was the fourth largest bank failure in United States history up until the crisis precipitated even larger failures, [410] and the second largest failure of a regulated thrift. [411] IndyMac Bank's parent corporation was IndyMac Bancorp until the FDIC seized IndyMac Bank. [412]
The first half of the bailout money was primarily used to buy preferred stock in banks instead of troubled mortgage assets. [11] In January 2009, the Obama administration announced a stimulus plan to revive the economy with the intention to create or save more than 3.6 million jobs in two years. The cost of this initial recovery plan was ...
The 2023 failures of Silicon Valley Bank (SVB), Signature Bank and First Republic Bank marked some of the largest bank failures in U.S. history of bank bailouts. In the days leading up to each of ...
A lot of people are having a tough time paying their taxes these days, but that's still not likely to generate much sympathy for the former Wachovia bank in Shoemakersville, Pennsylvania. After ...
For premium support please call: 800-290-4726 more ways to reach us
The transaction "open bank" was facilitated by the FDIC and with the concurrence of the United States Department of the Treasury, and the Board of Governors of the Federal Reserve Bank. The FDIC guaranteed to Citigroup to cover any losses on the Wachovia banking portfolio greater than $42 billion, in exchange for $10 billion in preferred stock.
While reports today indicate that GMAC is in talks for a third round of bailout money from the government, Congress and the Treasury Department finally developed draft legislation to make sure ...