Just over two months into her tenure as GM Chief Executive, Mary Barra is faced with perhaps the biggest crisis the automaker has faced since its bailout. GM had recalled 3.15 million cars for various safety failures and said it would take a $300 million charge this quarter. Further, the company had been criticized for its tightly-controlled press management of the crisis.
Head Of AIG Apologizes For Comparing Bonus Outrage To Lynchings
In a statement to BuzzFeed, AIG Chief Executive Robert Benmosche apologized for his comments comparing outrage over executive bonuses to "what we did in the Deep South" and saying that it was "just as bad and just as wrong." Benmosche said he "never meant to offend anyone" and his comments were a "poor choice of words."
Head Of AIG Likes Comparing Critics To Lynch Mobs
Robert Benmosche, the CEO of bailed-out insurance giant AIG, told The Wall Street Journal that outrage over employee bonuses was "just as bad and just as wrong" as lynchings. Benmosche's comments echo similar ones he made in 2009. (h/t: Ryan Chittum)
Democrats Attack Romney For Getting Taxpayer Dollars For The 2002 Olympics
On 10-year anniversary of the Salt Lake City games, Democrats call federal funding "Olympic Bailout." Trying to upend the Romney narrative, the Democratic National Committee calls the American taxpayer "the real savior of the Salt Lake City Olympics."
59 Photos Of The Chaos In Greece
Athens is still reeling from the riots which burned 45 buildings and triggered a forceful crackdown by police. Protesters were furious with the severe austerity cuts passed by Parliament in order to accept an EU bailout package. Demonstrations continued today, but nowhere near the ferocity of what was seen over the weekend.
45 More Photos Of The Riots In Greece
Despite massive and often violent protests against them, severe austerity measures have been passed by the Greek parliament. This paves the way for emergency bailout loans from the European Union and the International Monetary Fund that are intended to prevent a total collapse of Greece's economy and stabilize global markets. Here are some more photos from the ongoing riots that have erupted in the streets of Athens as a response to the painful budget cuts.
The Bailout Game
Didn't agree with the bailout? Thought you could've done a better job? We'll see about that. Hit up this amazingly well-designed (and entertaining) game, which is inspired by Monopoly, but you get to choose who gets bailed out and who gets the ax. Watch out for the recession (ie angry mob in red pickup truck!)