bailout News

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WikiLeaks, the Video Game

(Dec. 8) -- If some people see WikiLeaks founder Julian Assange as a James Bond figure, then why shouldn't he, like Ian Flemming's fictitious spy, get his own video game? A game developer and blogger called "Gnome" has put out the call to the independent video game development community to begin the creation of what he...

Economist: US and Ireland Both Fell Prey to Real Estate Market

(Nov. 18) -- Ireland is looking squarely in the face of a rescue package of "tens of billions" of euros today. Sound familiar? It should. As was the case in the United States when the government bailed out Wall Street banks to save the American economy, many in Ireland are displeased with the idea. But the Irish have a...

Ireland Resisting Pressure to Accept Huge EU Bailout

LONDON (Nov. 15) -- The European Union is drawing up a possible $110 billion bailout plan to help Ireland rescue its ailing banking sector, despite repeated claims by the Irish government that the debt-ridden nation doesn't need any outside help. Reports of a bailout first emerged this weekend, when it was revealed that...

Bloomberg Report Shows TARP Profits Top Treasury Bond Returns

(Oct. 20) -- Returns on the Troubled Asset Relief Program used to bail out the financial industry, better known as TARP, generated higher profits for taxpayers than 30-year Treasury bonds, according to a Bloomberg report. The government earned $25.2 billion on its investment of $309 billion in the financial sector, which...

Maxine Waters Investigation: The Bank

(Aug. 9) -- At the heart the allegations of ethical misconduct made against California Rep. Maxine Waters is the relationship among the congresswoman, her husband and OneUnited Bank. According to the House ethics committee's "Statement of Alleged Violation," OneUnited routinely donated to Ms. Waters' campaigns for public...

Background on bailout

In economics, a bailout is an act of loaning or giving capital to an entity (a company, a country, or an individual) that is in danger of failing, in an attempt to save it from bankruptcy, insolvency, or total liquidation and ruin; or to allow a failing entity to fail gracefully without spreading contagion.

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