Category Archives: bailout

What Communication Problem?

I keep reading about the Obama administration’s so-called “communication problem.” The latest being this piece in the LA Times by Richard Wolffe: “[The] lack of agreement on economic fundamentals is a primary factor behind one of this White House’s most … Continue reading

Posted in bailout, economy, Financial Crisis, Obama administration, Politics, Wall Street | Tagged , , , , , , , , , | 1 Comment

Openness and Transparency, Anyone?

Fiction: My Administration is committed to creating an unprecedented level of openness in Government.  We will work together to ensure the public trust and establish a system of transparency, public participation, and collaboration. Openness will strengthen our democracy and promote … Continue reading

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William Black: “Fire Holder, Fire Geithner, Fire Bernanke”

Lisa Epstein and William Black on Dylan Ratigan’s show yesterday: Speaking of Geithner telling “one lie after another”: “The United States Treasury concealed $40 billion in likely taxpayer losses on the bailout of the American International Group earlier this month, … Continue reading

Posted in AIG, bailout, Financial Crisis, Foreclosures, Justice Department, Obama administration, too big to fail, Wall Street | Tagged , , , , , , , , , , | Leave a comment

Foreclosure Fraud Just the Tip of the Iceberg

Dylan Ratigan, Ohio Secretary of State Jennifer Brunner, and Karl Denninger of The Market Ticker unravel foreclosure fraud: To reiterate, the fraud in foreclosures that we’re seeing now is just the tip of the iceberg. The purpose is to try … Continue reading

Posted in bailout, Congress, economy, Financial Crisis, financial reform, financial regulation, Foreclosures, Justice Department, Obama administration, special interests, too big to fail, Wall Street | Tagged , , , , , , , , , , , , , , , , , , , | 2 Comments

Why Tim Geithner Opposes Elizabeth Warren as Head of the CFPB

Elizabeth Warren should be a no-brainer as President Obama’s choice to head the newly-created Consumer Financial Protection Bureau (CFPB). She is a long-time advocate for the rights of consumers, the person most responsible for the Bureau’s inclusion in the recently-passed … Continue reading

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Another Republican For Bailouts

From TPMDC: “In response to a question from TPMDC, House Minority Leader John Boehner backed Tom Donohue, President of the Chamber of Commerce, in saying taxpayers should help pick up the tab. “I think the people responsible in the oil … Continue reading

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Senate Votes on Financial Regulation Amendments

Any time anything passes in the Senate by a vote of 96–0 I’m suspicious. Those numbers are usually reserved for meaningless proclamations declaring ‘National Be Kind to Puppies and Kitties Day.’ But such a vote took place yesterday on Sen. … Continue reading

Posted in bailout, Congress, Democrats, economy, financial reform, financial regulation, lobbyists, McCain, Politics, Progressives, too big to fail, Wall Street | Tagged , , , , , , , , , , , , , , , | Leave a comment

The Geithner Solution to Regulatory Failure: More Authority for Regulators

Sure, federal regulators (like the former head of the New York Federal Reserve pictured at left) were inept, incompetent, and inadequate when it came to their ability to first foresee and then to take proper pre-emptive action based on all … Continue reading

Posted in bailout, economy, Financial Crisis, Politics, too big to fail, Uncategorized, Wall Street | Tagged , , , , | Leave a comment

Quote of the Day: Taibbi’s Goldman–Roethlisberger Analogy

From Matt Taibbi’s latest at Rolling Stone, The Feds vs. Goldman: “The bank will try and – who knows – might even succeed in defending itself in a court of law against these charges. But in the court of public … Continue reading

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“Put Up or Shut Up” Time on Too Big To Fail

Now that the Senate Republicans have abandoned their filibuster (after perusing the public opinion polls on Wall Street and observing the tap-dancing by Goldman Sachs execs at the Senate Subcommittee on Investigations hearings, I assume) financial reform legislation is set … Continue reading

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