iOS app Android app

Bank Bailout

Sam Stein

With Election Over, Lawmakers Comfortable Defending TARP | Sam Stein | Posted 05.25.2011 | Politics

WASHINGTON -- The day after an election is perhaps the moment of greatest candor among the political class, especially when those doing the talking ar...

For Worried Dems, That Boxed-in Feeling

Rick Horowitz | Posted 05.25.2011 | Politics
Rick Horowitz

Rrrriinnng! Rrrriinnng! Rrrriin -- " -- whatever you can. We'll just have to figure -- yeah, hello." "Good morning, is this Mandate Movers?" "M...

The Great American Credit Catastrophe Is Our Generation's 9/11

Michelle Kraus | Posted 05.25.2011 | Politics
Michelle Kraus

The housing crisis is just one piece of the big, ugly mess of the consumer credit debacle. It seems to me that our president must call for immediate reform and take action through executive order.

A Pledge to 1% of America

Terrance Heath | Posted 10.08.2010 | Politics
Terrance Heath

The "Pledge to America" is, in truth, a pledge to continue the same policies that brought us the current economic crisis.

ForeclosureGate and Obama's Pocket Veto

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

The giant banks can be broken up and replaced with a network of publicly-owned banks and community banks, which could do a substantially better job of serving consumers and businesses than Wall Street is doing now.

The French Connection: That Jailed Banker Raises US Issues

Richard (RJ) Eskow | Posted 05.25.2011 | Business
Richard (RJ) Eskow

The real question about Jerome Kerviel's sentence is for our country, not France: Where are the US indictments and convictions? The US bankers who engaged in criminal behavior are walking around free, writing big checks to political candidates.

George Soros: America Needs Stimulus Not Virtue | George Soros | Posted 05.25.2011 | Business

The Obama administration's insistence on fiscal rectitude is dictated not by financial necessity but by political considerations. The US is not in the...

TARP Uncovered -- the Real Cost of the Government Bailout

John R. Talbott | Posted 05.25.2011 | Politics
John R. Talbott

One of the reasons that TARP did not cost more was because of the government's other more costly bailout policies, and to ignore them is to dramatically understate the true cost of the bailout.

Crony Capitalism: Wall Street's Favorite Politicians

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

All 21 senators who voted with Wall Street on the bailout and financial reform are Republicans, and Republicans raked in over 90 percent of the total campaign contributions.

FDIC: The Government's Job-Killer

Halsey Minor | Posted 05.25.2011 | Business
Halsey Minor

The FDIC is presiding over one of the greatest wealth transfers in American history. And if no one speaks up, it will continue to hand American businesses off to international bankers for pennies on the dollar.

When Fed Signals Stimulus, It's 'Balls To The Walls,' Says Hedge-Fund Manager (VIDEO)

Nathaniel Cahners Hindman | Posted 05.25.2011 | Business

When the Treasury Department announced one of its bank rescue plans in early 2009, few investors besides David Tepper believed the government would ac...

Jason Linkins

Russ Feingold, TARP Critic, Down In The Polls To Bailout Beneficiary Ron Johnson | Jason Linkins | Posted 05.25.2011 | Politics

According to Public Policy Polling, incumbent Wisconsin Senator Russ Feingold is trailing his opponent, Ron Johnson, by double-digits. And so everyone suddenly got interested in the race.

Warren Buffett and Charlie Munger: Winning the Class War

Janet Tavakoli | Posted 05.25.2011 | Politics
Janet Tavakoli

We bailed out banks that were the key architects of much of our national misery and currency destruction. Those living in poverty will have a much more difficult time bettering themselves, as much of the middle class sinks.

The Terrible Tale of the TARP Two Years Later

Dean Baker | Posted 05.25.2011 | Business
Dean Baker

The notion that we would be sitting in a 21st century economy and reduced to barter payments was an invention of the bank lobby to get the taxpayers' money.

Shahien Nasiripour

Bank Profits Soar, Lending Falls As Banks Pay Next To Nothing For Funds | Shahien Nasiripour | Posted 05.25.2011 | Business

Bank profits jumped 21 percent last quarter to nearly $22 billion, the highest level in three years, as banks put away less money to cover future loss...

Fed Bought Junk Bonds In Maiden Lane Wall Street Rescue, But Didn't Tell Congress

Bloomberg | Caroline Salas, Craig Torres and Shannon D. Harrington | Posted 05.25.2011 | Business

Federal Reserve Chairman Ben S. Bernanke and then-New York Fed President Timothy Geithner told senators on April 3, 2008, that the tens of billions of...

Citigroup Goes After Mike Mayo Over Accounting Accusations

Charles Gasparino | Posted 05.25.2011 | Business
Charles Gasparino

Citigroup, one of the most bailed-out banks in the history of bank bailouts, has the nerve to wage a vindictive war against a securities analyst named Mike Mayo for doing nothing more than telling the truth.

Where Are the Prosecutions? SEC Lets Citi Execs Go Free After $40 Billion Subprime Lie

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

What is the penalty for bankers who tell $40 billion lies? Somewhere between nothing and a rounding-error on your bonus.

A Tale of Two Worlds

Gary Liberson, PhD | Posted 05.25.2011 | Politics
Gary Liberson, PhD

Housing completions are at a 50-year low and our unemployment is at a 50-year high. I am sure the Fed will cut interest rates. We do not have an interest rate problem. We have a bank problem.

Congress Goes to Bat for Wall Street

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

No matter what else is ultimately enacted in the name of Wall Street reform, Congress decided last night that it will not confront the single greatest problem in the U.S. economy: Too Big To Fail.

J.P. Morgan Still Hates the Economy

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

J.P. Morgan's Chief Economist James Glassman recently indulged in a vaguely worded assault on financial reform, arguing that Congress is about to ruin the economy by cracking down on Wall Street. Don't believe a word of it.

Showdown in Senate Meets Showdown in Streets

George Goehl | Posted 05.25.2011 | Business
George Goehl

Today, thousands of Americans -- workers and small business owners, students and retirees, clergy and veterans, are forcing a Showdown on Wall Street, marching directly to the scene of the crime.

Who Will Pay: Wall Street or Main Street , The Tobin Tax or the VAT?

Ellen Brown | Posted 05.25.2011 | Politics
Ellen Brown

Wall Street banks have been saved from bankruptcy by governments that are now going bankrupt themselves; but the banks are not returning the favor. Wall Street needs to be made to pay its fair share, but how?

Ms. Wegner Takes On Wall Street

Sally Kohn | Posted 05.25.2011 | Politics
Sally Kohn

An 81-year-old widow from Des Moines, Iowa, Ferol Wegner wasn't the type of person who would normally go to a protest against the banking industry. B...

Republicans Filibuster Our Financial Future

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

With two-thirds of the nation supporting reform, any political party that throws in its lot with Wall Street will pay a major price come November. No amount of Wall Street campaign cash can counter voter outrage.