Gary D. Cohn, president of Goldman Sachs Group Inc., told the Financial Crisis Inquiry Commission last summer that the company took overnight loans from the Federal Reserve just once - and that was at the Fed's request. But Bloomberg News reported today that Goldman actually borrowed money through the Fed's...
Regulators closed the Bank of Commerce, in Wood Dale, Ill., on Friday, making it the 26th bank to fail this year.   At this time last year, 41 banks had been shut down.   Advantage National Bank Group, based in Elk Grove Village, Ill., absorbed Bank of Commerce, which had...
  The Congressional Oversight Panel's final report on the Troubled Asset Relief Program was, in many areas, its most deeply critical.   Citing such faults as a lack of transparency, an absence of clear goals, conflicting interests, and the elevation of the "too big to fail" philosophy to the level...
Neil Barofsky, Special Inspector General for TARP since the program's inception in 2008, will leave the job at the end of March. In his resignation letter to President Obama, Barofsky hailed his office's ability to provide a level of transparency to the $700 billion bailout program while helping gain the convictions of...
Bridge Capital Holdings, the San Jose, Calif.-based parent company of Bridge Bank and a December 2008 recipient of $23.9 million in TARP money, said it is ready to repay the government and leave the program. The company plans to redeem all of the preferred stock that it sold to...
The recently released Congressional Oversight Panel report gave passing marks to efforts to limit cash compensation at seven institutions that received "exceptional taxpayer assistance'' through the Troubled Asset Relief Program. But the panel said that Kenneth Feinberg, the  program's Special Master for Executive Compensation, "has fallen short in his far...
Regulators closed four more banks Friday, bringing the number of seizures so far this year to 18. All four of the banks were located in different states. Both Wisconsin and Florida witnessed their second bank failures of the year, while Michigan and California each saw their first. The most...
Regulators seized three small banks Friday, boosting the number of closings in the new year to 14.   Two of the banks were in Georgia, which has produced a steady stream of failures since the financial crisis began in 2008. The third was in Illinois, another of the hardest-hit states....

More banks repay TARP money

Five small banks have repaid all or part of their TARP money this month, while a fifth, much-larger bank - Fifth Third Bancorp - is preparing to retire its debt as well.   BCSB Bancorp Inc., the parent company of Baltimore County Savings, said Wednesday it had repurchased the $10.8...
Regulators seized six more banks Friday, bringing the total number of failures for the year to 157.   Three of the closings were in Georgia, which has seen 21 banks and thrifts go under in 2010 and ranks second only to Florida in that department.   The biggest bank to...