Mark Paustenbach News
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Oaktree Capital Group LLC, the distressed-debt firm preparing to go public, agreed to refund more than $2 million in fees received under Treasury Secretary Timothy F. Geithner’s plan to help banks dump toxic assets.
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American International Group Inc. sought to assuage regulators as the insurer met with paymaster Kenneth Feinberg after being criticized for awarding bonuses amid its rescue, according to records released this week.
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Efforts by U.S. regulators and government-controlled firms to recoup billions of dollars from Bank of America Corp. for faulty mortgages may backfire, hurting the same taxpayers they’re meant to protect.
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Forget free-market fundamentals. What matters most to the capital markets now is whether the governments of the U.S. and western Europe have the will and the wherewithal to save the global financial system from disaster yet again.
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American International Group Inc.’s share slide may prolong the U.S. Treasury Department’s ownership of the bailed-out insurer, limiting near-term gains for private investors, Goldman Sachs Group Inc. said.
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American International Group Inc., Citigroup Inc. and General Motors Co., once the largest insurer, bank and automaker, hold a new distinction after losses forced them to take bailouts. The firms accumulated some of the biggest deferred tax assets that may lower obligations to the government that rescued them.
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Elizabeth Warren , who leads the congressional panel overseeing the Troubled Asset Relief Program, said U.S. taxpayer bailouts helped Wall Street and not small banks.
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Small U.S. banks that took money from the Troubled Asset Relief Program may struggle under the weight of their repayment obligations, said a watchdog group led by Harvard University law professor Elizabeth Warren .
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Wilmington Trust Corp ., the recipient of a $330 million taxpayer bailout, took back about $2 million in pay from Chief Executive Officer Donald Foley because the compensation broke U.S. Treasury Department rules.
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American International Group Inc ., the insurer rescued by the U.S. government, sold $2 billion of bonds in its first offering since the bailout in 2008.
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