Thanks to TMZ, bank that took bailout money to host lavish event finally paid back gov't
Remember our story about Northern Trust -- the bank that took federal bailout money and then hosted a lavish golf tourney in L.A. and catered swanky dinners with live entertainment from Sheryl Crowe, Chicago and Earth, Wind & Fire?
And all the ladies got Tiffany gift bags . And we got video of the whole thing ....Well Barney Frank and other members of Congress were so pissed, Northern Trust agreed to return the money. We checked every week to see if the money was returned .... nothing. Until a few weeks ago!Northern Trust has returned $1,576,000,000 -- that's $1.576 billion returned to the government
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Bush years saw teen pregnancies rise in US
Bush years saw teen pregnancies rise in US
Inspector General: TARP Money Not Used For Lending
Many of the banks that got federal aid to support increased lending have instead used some of the money to make investments, repay debts or buy other banks, according to a new report from the special inspector general overseeing the government's financial rescue program.
The report, which will be published Monday, surveyed 360 banks that got money through the end of January and found that 110 had invested at least some of it, that 52 had repaid debts and that 15 had used funds to buy other banks.
Roughly 80 percent of respondents, or 300 banks, also said at least some of the money had supported new lending.
Many of the banks that got federal aid to support increased lending have instead used some of the money to make investments, repay debts or buy other banks, according to a new report from the special inspector general overseeing the government's financial rescue program.
The report, which will be published Monday, surveyed 360 banks that got money through the end of January and found that 110 had invested at least some of it, that 52 had repaid debts and that 15 had used funds to buy other banks.
Roughly 80 percent of respondents, or 300 banks, also said at least some of the money had supported new lending.
Bloomberg News adds that the bailout and related rescue efforts could total $23 trillion, according to Barofsky:
Barofsky's estimates include $2.3 trillion in programs offered by the Federal Deposit Insurance Corp., $7.4 trillion in TARP and other aid from the Treasury and $7.2 trillion in federal money for Fannie Mae, Freddie Mac, credit unions, Veterans Affairs and other federal programs.
US bingo dollars fund Israeli settlements -- Over the past 20 years, the bingo hall has funnelled tens of millions of dollars in to what its opponents -- including rabbis serving the Hawaiian Gardens area -- describe as an ideologically-driven strategy to grab land for Israel, as well as contributing to influential American groups and thinktanks backing Israel's more hawkish governments.
On Friday, lowest-wage workers get a raise The final installment of a three-part increase in the federal minimum wage will soon be implemented. Two previous wage increases, one in 2007, the other in 2008, pushed the federal wage to $5.85 and then to the current $6.55 an hour. The third, which goes into effect Friday, will push it to $7.25 an hour.
President Obama's Conference Call with Liberal Bloggers to push Congress on healthcare— You can view this video right here by getting the latest version of Flash Player! — DOWNLOADS: 127 — PLAYS: 408 … President Obama and David Axlerod hosted … John Amato, Sam Stein, mcjoan, and dday have their own analyses of the call.
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