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Showing blog posts tagged with TARP

Trying to Understand What Makes Sense

Two boys at the Detroit Water Rally held July 18, 2014. Photo courtesy of National Nurses United.

Last month, a United Nations panel held that cutting off water to Detroit residents suffering from high unemployment rates and low incomes, leaving them unable to afford their water bills, was a violation of basic human rights. This past weekend, actor Mark Ruffalo and Rep. John Conyers (D-Mich.) joined close to a thousand protesters in a march organized by National Nurses United from Detroit’s Cobo Center to Hart Plaza. The chants of the crowd included “We got sold out, banks got bailed out." And there were renewed calls for a financial transaction tax, commonly referred to as a “Robin Hood tax.”

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Bank of America’s Unconscionable Debit Card Fee Grab

The Big Banks still don’t get it. Bank of America recently announced that it will start charging its customers $5 per month to use their debit cards. Wells Fargo and JPMorgan Chase are considering similar fees on their customers.

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Auto Industry Resurgent After Government Aid

Two years ago, the U.S. auto industry was on the verge of collapse. General Motors Corp. (GM) had filed for bankruptcy and had just begun to reorganize with $30 billion from the government’s Troubled Asset Relief Program (TARP). Chrysler, also with TARP support, reached a partnership deal with Fiat and began its climb from bankruptcy.

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Chrysler Repays Bridge Loan, Adds Jobs

Today, six years ahead of schedule, Chrysler Corp. repaid the last of its $8.5 billion in loans the Obama administration made to the troubled carmaker in April 2009 to help keep Chrysler afloat and save the jobs of tens of thousands of Chrysler workers and workers in the supply chain.

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