Tag: bailout

News Roundup: DePaul accused of racism in tenure review

DePaul University faculty members are calling for an investigation into whether race was the issue in a June decision by board members to deny tenure to two minority professors. According to a university appeals board, the tenure review process is biased and has violated academic freedom in at least one case. At the same time when the two... Read more »

News roundup: Chicago banks refinance their bailout for cheaper Fed program

The first four of Chicago’s small banks to pay back the federal government for the Troubled Asset Relief Program funds they received turned around and refinanced with a cheaper  federal bailout program, despite the fact that all but one were profitable during the first half of the year. The banks, including Hanover Park’s First Eagle... Read more »

Fired exec says Fannie Mae helped itself, not homeowners

A former Fannie Mae executive alleges that the home loan agency focused on making money for itself, and not providing enough help for homeowners facing foreclosure. Also… The U.S. Senate approved school funding and aid to state budgets at the expense of food stamp programs. While visiting a Ford plan on Chicago ‘s South Side... Read more »

Wells Fargo found guilty in the court of public opinion

A group of demonstrators declared Wells Fargo guilty of misusing $25 billion in federal government bailout money last Thursday during a rally outside the company’s corporate offices at 230 W. Monroe St. in downtown Chicago. “They got bailed out. We got sold out,” demonstrators chanted.