Consumerist
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auto bailout
GM Begs For $12 Billion, May Sacrifice Saturn, Pontiac, Saab
GM desperately wants an invite to the bailout party — and has submitted a request for $12 billion dollars. In return, GM will attempt to return to profitability by "explor[ing] alternatives for the Saturn brand," as well as cutting "product offerings" at Pontiac. More » -
aig bailout
AIG: No Bonuses For Top Executives This Year
It's apparently not entirely self-evident that when your company needs a taxpayer bailout you shouldn't get a "bonus," so money-sucking insurer AIG has written a letter to NY Attorney General Andrew Cuomo promising that their top executives will not get bonuses this year. More » -
money meltdown
Stock Market Pleased By New Phase Of Bailout
Today the Federal Reserve announced the creation of a new special purpose entity that will buy consumer and business debt. Under the new plan, the Treasury will provide $20 billion dollars in of credit protection (from the Troubled Asset Relief Program) — and will absorb most of the losses, should they occur. More » -
auto bailout
Auto CEOs Flew Private Jets To Washington To Ask For Your Tax Money
ABCNews says that the big three auto CEOs "flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy." More » -
bailout
GM's Prez Begs Customers To Plead On GM's Behalf
Consumerist reader Darkrose writes, "I just got this in my e-mail. Thought you guys might be interested in it." In the email, GM's president Troy Clarke is in high PR mode, pointing out the grave consequences and emphasizing that GM wants not "a bailout but rather a loan that will be repaid." We thought other readers who aren't GM customers would find it interesting.
Tonight, the president of Ford Motors will be on Campbell Brown's "No Bias, No Bull" program on CNN at 8pm ET/5pm PT, presumably to hit similar talking points. Dance, auto monkey! Dance for the TV audience! More »
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bailout
Alert: You Cannot Buy Consumerist With Doodle Money
Our post last Friday gave people some great business ideas. We appreciate the offers, but we must insist that you do not try to purchase Consumerist with doodle currency that you have minted yourself, probably while drinking. You can, however, try to bail out the auto industry with it if you want. More » -
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It looks like the auto industry bailout doesn't have the votes. [NYT]
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tragicomedy
The Tom Hanks Movie "The Money Pit" Is Actually A Documentary About Our Economy
Over at Slate they've realized that the Tom Hanks movie from the 80s "The Money Pit" is actually just a documentary about our current financial crisis and the bailout of AIG. Specifically, the scene in which the kitchen catches fire and the bathtub falls through the floor. (Video, inside...) More » -
bailout
American Express Becomes A Bank... And Wants Bailout Money
American Express won U.S. Federal Reserve approval to become a bank holding company — giving it access to the bailout party as credit card defaults climb. Bloomberg News says that the Fed waived the usual 30 day waiting period because (in the words of Fed Chairman Ben Bernanke) we're experiencing "unusual and exigent circumstances affecting the financial markets." Today, American Express has requested $3.5 billion in taxpayer-funded capital from the federal government, says the WSJ. More » -
bailout
So, Um, What Happened To That 2 Trillion Dollars In Bailout Money?
"Hey, guys? Where did that 2 trillion dollars go?" asks Bloomberg. The answer? We'd tell you, but it would be bad for you. More »
bailout
New York, 2:46 AM
Wed Dec 3
16 posts in the last 24 hours
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