Tag Archives: TARP

No Banker Left Behind

A US bank chairman has pleaded guilty to using bailout money given to rescue his firm to buy himself a luxury home. Darryl Woods used $381,000 (£245,000) of the $1m given to his Mainstreet Bank to buy the Florida waterfront property. Following the US housing collapse and financial crash, Mainstreet needed to be propped up […]

Ben Bernanke, the Fed and the Tea Party

Ben Bernanke is not a Tea Party sort of person. An academic appointed as Chair of the US Federal Reserve (“the Fed”) by a Republican President (Bush II) and re-appointed by a Democrat President (Obama) who helped organise the bailout of Wall St in response to the Global Financial Crisis (GFC), he is the epitome of […]