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Tag Archives: bailout

PNC pays back $7.6B for TARP

WASHINGTON — The U.S. Department of the Treasury received full repayment on its Troubled Asset Relief Program (TARP) investment in PNC Bank in the sum of $7.6 billion, bringing the total amount of repaid TARP funds to more than $173 billion. Treasury now estimates that total bank repayments and proceeds from sales of its common stock in banks should exceed ...

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ECD/Hope to accept TARP funds

JACKSON — On Feb. 4, Treasury Secretary Tim Geithner outlined the details of a new program under the Troubled Assets Relief Program (TARP) that will provide community development financial institutions (CDFIs) with up to $1 billion to make more loans to small businesses in some of the communities hit hardest by the economic crisis. ECD/HOPE (Enterprise Corporation of the Delta/Hope ...

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White House czar calls AIG bonuses 'outrageous'

WASHINGTON — Executives in AIG’s financial products division are getting $100 million richer, and the White House pay czar calls the bonuses “outrageous.” However, Kenneth Feinberg said the payments are contractual obligations entered into years ago. And he pointed out that AIG executives have pledged to repay $39 million out of $45 million in previous bonuses to the U.S. Treasury. ...

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Governor calls for small business bailout

Barbour, MDA’s Swoope tell business leaders that previous program was met with a good amount of success Part of the effort in the financial recovery from Hurricane Katrina included a state program that guaranteed portions of loans for small businesses trying to get back on their feet after the storm. Gov. Haley Barbour and Mississippi Development Authority executive director Gray ...

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Is GreenTech the real deal?

Tuesday in Tunica, a Chinese businessman made the biggest economic development announcement in Mississippi in almost three years, and Gov. Haley Barbour was nowhere in sight. Xiaolin “Charles” Wang said his automotive manufacturing facility would produce 150,000 hybrid vehicles annually and employ 1,500 people directly, and the Mississippi Development Authority’s executive director was out of the country with Barbour. If ...

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