Financial Regulatory Forum

Treasury to dole out $3.8 billion to GMAC, raise stake

By Reuters Staff
December 31, 2009

By Karey Wutkowski and Corbett Daly

WASHINGTON, Dec 30 (Reuters) – The U.S. is injecting another $3.8 billion into GMAC Financial Services to help cover mortgage losses, in a bailout that makes the government the majority owner of the auto and home finance company.

US pay czar caps more salaries at bailed out firms

December 11, 2009

By Karey Wutkowski and Steve Eder

WASHINGTON/NEW YORK, Dec 11 (Reuters) – The U.S. pay czar on Friday expanded a crackdown on pay packages at four companies rescued with taxpayer money, limiting most cash salaries at $500,000 for a second tier of top earners.

US Treasury will close Capital Assistance Program

By Reuters Staff
November 9, 2009

WASHINGTON, Nov 9 (Reuters) – The U.S. Treasury Department said on Monday it will immediately close its Capital Assistance Program, set up last spring for bank stress tests, because the only firm needing taxpayer funds will use an auto industry support program instead.