iOS app Android app

Federal Bailouts

The Politics of the Populist Moment

David Sirota | Posted 05.25.2011 | Politics
David Sirota

I appeared on ABC's World News Tonight and ABC's Nightline last night about the economic meltdown. You can watch the Nightline clip here. As I've w...

Defining Extravagance Up

Jamie Malanowski | Posted 05.25.2011 | Politics
Jamie Malanowski

It's admirable that our leaders now want to be frugal with our money but let's remember what the taxpayers themselves have been buying with money not rendered unto Uncle Sam.

AIG, Toxic Assets and the Call to Personal Sacrifice

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

If there has ever been an example of "sow and ye shall reap" gone awry, it is the madcap stripping of the national treasure by those who have brought us to the edge of the cliff.

Goldman Sachs, Obama, Money

Bob Ostertag | Posted 05.25.2011 | Politics
Bob Ostertag

Have things changed so dramatically that Obama will have room to dump his biggest campaign contributers overboard? That question will be answered in the coming weeks.

90% Tax? Now, We Really are Screwed

Henry Blodget | Posted 05.25.2011 | Business
Henry Blodget

The frantic passage of the Populist Rage Tax was a new low in the US government's response to this crisis.

Smoking Gun Points to Geithner

Earl Ofari Hutchinson | Posted 05.25.2011 | Politics
Earl Ofari Hutchinson

How long will and should Obama continue to defend Geithner in the face of the smoking gun proof of what he knew about AIG and when he knew it?

Obama "Takes Responsibility" for AIG? Getting Mad Is Not Getting Even...

Phil Bronstein | Posted 05.25.2011 | Politics
Phil Bronstein

It's good to hear Obama take responsibility, but after the previous "I screwed up" and a few more "buck stops here," the value of that buck's worth might soon diminish.

Creep of the Week: AIG Bonus Grantor Edward M. Liddy

Leo W. Gerard | Posted 05.25.2011 | Business
Leo W. Gerard

AIG Chairman Edward M. Liddy gets the Creep of the Week award for his stunning, overwhelming, dumbfounding display of cluelessness.

AIG Counter-Party Payments Worse than Bonuses

Jeffrey Feldman | Posted 05.25.2011 | Business
Jeffrey Feldman

When the key points of the AIG counter-parties list finally sink in to the American population, there is going to be a run on torches and pitchforks at local hardware stores.

Will the Politicians Give Back Their AIG Bonuses?

Jamie Court | Posted 05.25.2011 | Politics
Jamie Court

Mr. President and members of Congress, it's time to give back AIG's political contributions.

Bernanke Dodges the Bullets

Ann Pettifor | Posted 05.25.2011 | Business
Ann Pettifor

By fueling anger over AIG bonuses, Bernanke is playing a very old game. By aiming at AIG, he is distracting public anger from the Federal Reserve. He is protecting his reputation and legacy.

A Second Act for Spitzer?

James Moore | Posted 05.25.2011 | Politics
James Moore

There is an attorney who can get to the bottom of our current financial crisis and lay the blame and guilt at the foot of the culprits. Eliot Spitzer, phone home.

It's Gut-Check Time

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

Right now Obama is trying to walk on an incredibly narrow line with no safety net beneath, but this is gut-check time: he has to decide which side he's on.

How to Recoup the AIG Bonuses

Daniel J. H. Greenwood | Posted 05.25.2011 | Business
Daniel J. H. Greenwood

Let's get real. This may be a nation of laws, but contracts are not sacred, and employment contracts are less sacred than any.

Should Obama Stop Trusting Geithner's Advice?

Miles Mogulescu | Posted 05.25.2011 | Politics
Miles Mogulescu

If the American people come to see the Obama administration as complicit in Wall Street's unethical behavior, then Obama's entire economic program could end up in shambles.

House of Chutzpah, House of Cards, or Back to the Future Again

Jessica Catto | Posted 05.25.2011 | Politics
Jessica Catto

The disgust burbled up at the callousness of Enron; it has been simmering ever since, and with AIG it has boiled over.

Geithner Gives Away 2 Trillion While Country Screams About A Few Hundred Million At AIG

Ian Welsh | Posted 05.25.2011 | Politics
Ian Welsh

What Geithner is doing right now is similar to how a magician works. First he gets your attention on one thing "look, outrageous bonuses at AIG", then he does his trick while you're watching what he wants you to watch.

Tax the Bonuses

Kirk Stambler | Posted 05.25.2011 | Politics
Kirk Stambler

Amid all the hand-wringing about whether or not the government has the power to stop AIG from paying bonuses to the very people who helped precipitate...

The Death of a Brand

James Moore | Posted 05.25.2011 | Business
James Moore

AIG's predicament will be studied for years to come in marketing and communications classes. When the president of the United States starts bad mouthing your brand, it's not going to survive.

Taxing Bonuses: A Matter of Fundamental Fairness

Rep. Earl Blumenauer | Posted 05.25.2011 | Politics
Rep. Earl Blumenauer

Giving out $18 billion in bonuses at a time when ordinary Americans have seen their life savings collapse is outrageous. To give out these bonuses using federal bailout money is over the edge.

Why AIG and Jim Cramer Matter

Lincoln Mitchell | Posted 05.25.2011 | Politics
Lincoln Mitchell

The new economy, the one that not only gets us out of this crisis, but keeps us out of the next, will not have a place for either AIG type bonuses or Jim Cramer-type journalism.

Come, Shoot the Messengers!

Norman Lear | Posted 05.25.2011 | Business
Norman Lear

Let's take back some 70 odd bonuses and fail on all sides to see the systemic disease that got us here: short-term thinking and the lunatic need for a profit statement this quarter considerably larger than the last.


Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

Lincoln, FDR, and LBJ all did what they had to do, played the hardball that had to be played, to change the country. Obama should follow their example.

AIG: The Media's Appalling Hypocrisy and Anti-Obama Bias

MJ Rosenberg | Posted 05.25.2011 | Media
MJ Rosenberg

For eight years, the Republicans gave unprecedented trillion dollar bonuses to the richest people in America. Where was the MSM's outrage then?

Unacceptable Excuse of the Day

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

The ongoing AIG mess provides us with an interesting sidelight today -- the use of an excuse that is no longer acceptable in the unwired global universe in which we now live.