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VIDEO: 1/16/10 Weekly Presidential Address: Obama Vows To Get Money Back From Banks
“As the President continues to work on immediate job creation, he discusses his proposal for a new fee on the largest financial institutions to ensure that every cent of taxpayer assistance gets paid back. Saying that, “we’re not going to let Wall Street take the money and run,” he then to discusses the ongoing push to make sure banks can never put our economy at risk again.”
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Bank Of America Repaying TARP
“The bank said in a statement it would use available cash and raise $18.8 billion in capital to repay the money, which it received during the height of the credit crisis last year and after its purchase of Merrill Lynch & Co. earlier this year. ” Link
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Fritz Henderson: GM CEO To Resign
“People familiar with the matter say General Motors’ Chief Executive Frederick ‘Fritz’ Henderson will resign, CNBC’s Phil Lebau reports. The company’s chairman of the board Ed Whitacre Jr. will serve as interim replacement, the Associated Press reported. ” Link
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Pay Czar Cuts Pay For Bank Of America Execs
“Chief Financial Officer Joe. L. Price and mortgage unit President Barbara J. Desoer will earn less salary in 2009 than they did last year following approval by the officer of the special master for TARP Executive Compensation, Bank of America said in papers filing with the Securities and Exchange Commission.” Link
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