Obama promoted the architects of the financial disaster and demands that we hail them as heroes because they, and Wall Street, only wrecked the economy -- they haven't (yet) utterly destroyed it.
Did Goldman and the other banks know for certain that the bankruptcy of AIG was no longer a risk for them? That the Fed and Treasury were now irrevocably committed to saving AIG?
Goldman Sachs is, in the words of Rolling Stone journalist Matt Taibbi, "a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."
A column in the Business section was about how the American worker is overpaid. They claim that if workers don't take cuts, these "overpaid" working stiffs will be the cause of another Great Depression.
In a rare glimpse behind the closed-doors of The Federal Reserve, Chairman Ben Bernanke released a snapshot of the economy they have been looking at for months.
Obama, like Kennedy, needs to overcome the dubious counsel of his own advisers, this time both economic and military. The president needs to listen to other voices, including his own.
What makes financial literacy such an attractive goal today? One benefit is that it deflects attention from reforming financial services.
With the announcement of record Wall Street bonus pools and rising credit card fees, it is time to sit back and see where we go from here.
Regarded as the more conspicuous economic turkeys, those who have openly signaled the death of the recession, are President Obama, Ben Bernanke and Warren Buffett. Likewise, an editorial turkey is Newsweek.
The new pay regulations are ostensibly designed to try to align the financial incentives of managers with the longer-term performance of their firms. This measure reeks of bogus populism.
If anyone has ever dreamed of being an office holder, 2010 is the year to do it. There are going to be several situations where voters elect a complete unknown, just to express their anger about the incumbent.
When it comes to dealing with Wall Street, President Obama seems to have traded in his position as our economy's commander-in-chief for a different role: pundit-in-chief.
Ironically, the recession has been good for our trade deficit. We can't buy as much and don't have as much money to spend. But it can't last and we don't want it to.
Ninety percent of bank overdraft fees happen to only ten percent of checking account holders, comprising those people who are also the most vulnerable.
Perhaps the most inaccurate and inept economic forecast of all time was delivered relatively recently by Ben Bernanke who n October '05 said, "There's no housing bubble to go bust"
Hundreds of years ago the Incas would sacrifice virgins to appease their Volcano God. The Gods (the banks) and the methods (bailouts) may have changed, but the tradition remains.
Before Ben Bernanke is reconfirmed for a second term, we think the Senate and American public should know who got the $2 trillion the Federal Reserve has lent out over the last two years.
I'm convinced that most of the mistakes made handling money result from lack of information and bad habits formed in childhood.
New York Times' reporter Andrew Ross Sorkin's excerpt microscopically examines the actions of some key regulatory and Wall Street players, in this case during the period immediately after Lehman failed.
With a few exceptions, the Lehman coverage consisted of the usual anniversary fare, from the pedestrian where-are-they-now stories to the handwringing what-have-we-learned pieces.
Uncle Sam has to ease out of banking, autos and all the programs authorized under the Obama stimulus bill without either starving the recovery or feeding inflation.
