Financial Regulatory Forum

ANALYSIS – U.S. TARP program less costly, but not less controversial

August 20, 2010

By Dave Clarke

WASHINGTON, Aug 19 (Reuters) – The government’s $700 billion bailout of the financial system may still be politically toxic, but for those who voted for the program, there is some good news: the taxpayer bill continues to drop.

ANALYSIS – US taxpayers hit as TARP takes a new turn

March 4, 2010

By Dan Wilchins and David Lawder

NEW YORK/WASHINGTON, March 3 (Reuters) – A small Midwestern bank has negotiated with the U.S. Treasury for taxpayers to essentially buy the bank’s shares at an above-market-value price, in an unusual transaction reflecting how the government’s bank investments are entering a new phase.

US bank bailout encourages risky behavior -watchdog

February 1, 2010

WASHINGTON, Jan 30 (Reuters) – The U.S. taxpayer-funded rescue program set up to save banks from collapse during the financial crisis makes future reckless behavior more likely, the government’s bailout watchdog said in a quarterly report.

Obama to propose bank fees to recoup bailout funds

January 14, 2010

By Alister Bull

WASHINGTON, Jan 14 (Reuters) – President Barack Obama on Thursday will propose major U.S. financial firms pay a fee to protect taxpayers from up to $117 billion in losses on a bank bailout that has spurred fury at Wall Street excess.

Obama to announce TARP fee on banks on Thursday

January 13, 2010

(Updates with background, adds byline)

By Alister Bull

WASHINGTON, Jan 12 (Reuters) – President Barack Obama will announce plans on Thursday to raise up to $120 billion from major U.S. financial firms to cover expected losses from a taxpayer-funded bank bailout, a senior administration official said on Tuesday.

Obama, New York law chief Cuomo target Wall Street bonuses

January 11, 2010

By Caren Bohan and Jonathan Stempel

WASHINGTON/NEW YORK, Jan 11 (Reuters) – The White House and and New York’s top prosecutor attacked excessive Wall Street bonuses, as the nation’s biggest banks prepare to hand out awards critics say were made possible by taxpayer bailouts.

U.S. delays its $5 billion Citi sale after weak pricing

December 17, 2009

By Dan Wilchins and David Lawder

NEW YORK/WASHINGTON, Dec 16 (Reuters) – The U.S. Treasury delayed a plan to sell its $5 billion of Citigroup Inc shares after a stock offering by the bank attracted weak demand and priced at a much lower-than-expected $3.15 a share.

Wells Fargo sells $10.65 billion in stock to exit TARP

December 15, 2009

A U.S. flag flies above Wells Fargo & Co headquarters in San Francisco, California, April 22, 2009. NEW YORK, Dec 15 (Reuters) – Wells Fargo & Co sold $10.65 billion in stock on Tuesday, raising funds to help repay a $25 billion bailout received from the U.S. government last year.

Citi to raise $20 billion in capital to repay U.S.

December 14, 2009

By Dan Wilchins

NEW YORK, Dec 14 (Reuters) – Citigroup laid out a plan to repay the money it owes the U.S. government, including issuing about $20 billion of capital, as the bank looks to end the executive pay restrictions that came with the funds.

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.