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New York Fed

Student Loan Debt Stands Alone

Reuters | Posted 08.01.2012 | Money

By Leah Schnurr NEW YORK, May 31 (Reuters) - U.S. consumer debt fell in the first three months of the year as Americans made further i...

Fed Official Essentially Calls For Dimon To Leave New York Fed

The Huffington Post | Mark Gongloff | Posted 05.24.2012 | Business

Don't worry, Jamie Dimon. Even in the Facebook mess, you are not forgotten. Kansas City Federal Reserve President Esther George on Thursday said in...

Federal Reserve Conducts Another Secret Sale Of AIG Assets

The Huffington Post | Bonnie Kavoussi | Posted 02.28.2012 | Business

The Federal Reserve gave just five banks the chance to bid on taxpayer-owned AIG assets -- again. It's just the latest secret sale of the toxic mor...

Fed's Secret Sale Of AIG Assets To Goldman Criticized As 'Un-American'

The Huffington Post | Bonnie Kavoussi | Posted 02.10.2012 | Business

The Federal Reserve gave just five banks the chance to bid on $6.2 billion in taxpayer-owned AIG assets before selling them to Goldman Sachs on Wednes...

The $40 Billion Iraqi Money Trail

CNBC | Eamon Javers | Posted 12.25.2011 | World

It has been called the largest airborne transfer of currency in the history of the world. But finding out what happened to all the money involved has ...

Shahien Nasiripour

Federal Reserve's Actions May Increase Unemployment | Shahien Nasiripour | Posted 06.28.2011 | Business

The Federal Reserve's purchases of more than $2 trillion in mortgage and U.S. government debt may cause an upswing in unemployment, a top regional Fed...

AIG Expects Other Bids For Their Former Subprime Bonds

Posted 05.25.2011 | Business

(Reuters) - American International Group (AIG.N) expects others to bid for the mortgage-backed securities that it has offered to pay $15.7 billion to ...

Simon Johnson: New York Fed Making A Big Mistake?

The New York Times | Simon Johnson | Posted 05.25.2011 | Business

An uncomfortable dissonance is beginning to develop within the Federal Reserve. On the one hand, current and former senior officials now generally ag...

Zach Carter

New York Fed Economists: Bush-Era Bankruptcy Law Fueled Over 200,000 Foreclosures | Zach Carter | Posted 05.25.2011 | Politics

WASHINGTON -- Economists at the New York Federal Reserve have concluded that a controversial 2005 law backed by banks and credit card companies pushed...

In Money-Changers We Trust

Robert Scheer | Posted 05.25.2011 | Politics
Robert Scheer

In a parallel universe lives Peter Orszag, Obama's former budget director and key adviser, who has passed through that revolving platinum door linking the White House with Wall Street.

Foreclosure Mess Could Be Easy To Cure And Pose Big Problems For Banks Involved

The New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

Is the banks' sloppy paperwork a matter of simple technicalities that are relatively easy to cure, as the banks contend? Or are there more far-reachin...

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...

Shahien Nasiripour

AIG's Former Derivatives Chief Claims He Could Have Gotten Better Deal For Taxpayers Than New York Fed | Shahien Nasiripour | Posted 05.25.2011 | Business

AIG's former derivatives chief said Wednesday that taxpayers overpaid Wall Street for their AIG-related holdings, telling a federal investigative pane...

Shahien Nasiripour

Goldman Sachs 'Most Aggressive' In Demanding Cash From AIG | Shahien Nasiripour | Posted 05.25.2011 | Business

Goldman Sachs was the "most aggressive" financial firm to demand cash from AIG on what it viewed as souring deals during the financial crisis, the hea...

The F Word: Economy is in the Eyes of the Beholder

Laura Flanders | Posted 05.25.2011 | Business
Laura Flanders

In the U.S. right now, some see robust growth, others a limping progress. Where Tim Geithner sees gentle waves, New York Times business reporter Gretchen Morgenson sees tsunamis.

Ryan Grim

House Fighting Senate Over Appointment Of New York Fed President | Ryan Grim | Posted 05.25.2011 | Politics

House members of the financial reform conference committee are attempting to strip a Senate proposal to revamp the governance of the Federal Reserve b...

Shahien Nasiripour

Feds Didn't Do Enough To Avoid 'Poisonous' AIG Bailout And Now Changing Story To Defend It, Watchdog Says | Shahien Nasiripour | Posted 05.25.2011 | Business

Despite the many options it had, the team led by current Treasury Secretary Timothy Geithner chose to bail out ailing insurer American International G...

NY Fed: Big Banks Move to Mask Risk Levels | KATE KELLY, TOM MCGINTY and DAN FITZPATRICK | Posted 05.25.2011 | Business

The WSJ reports that according to new NY Fed data: "A group of 18 banks -- which includes Goldman Sachs Group Inc., Morgan Stanley, J.P. Morgan Chase...

Ryan Grim

New York Fed Warehousing Junk Loans On Its Books: Examiner's Report | Ryan Grim | Posted 05.25.2011 | Business

As Lehman Brothers careened toward bankruptcy in 2008, the New York Federal Reserve Bank came to its rescue, sopping up junk loans that the investment...

Rachel Maddow Questions Geithner About Role At New York Fed: 'Where Were You?' (VIDEO)

Posted 05.25.2011 | Business

Treasury Secretary Timothy Geithner described the nation's financial crisis as "deeply unfair" to average Americans Tuesday, during an interview with ...

Shahien Nasiripour

Stiglitz, Nobel Prize-Winning Economist, Says Federal Reserve System 'Corrupt' | Shahien Nasiripour | Posted 05.25.2011 | Business

One of the world's leading economists said Wednesday that the very structure of the Federal Reserve system is so fraught with conflicts that it's "cor...

Shahien Nasiripour

AIG Bailout: Issa Demands Fed Turn Over All AIG Documents | Shahien Nasiripour | Posted 05.25.2011 | Business

A leading House Republican called for Federal Reserve Chairman Ben Bernanke to release more documents related to the 2008 bailout of troubled insurer ...

Did Obama's Economists Do Their Homework on the Volcker Rule?

Jeff Madrick | Posted 05.25.2011 | Business
Jeff Madrick

The Volcker rule could be far-reaching. But it is disturbing that the Obama administration announced it before they had done enough homework to tell us how it would work.

Has the New York Fed Been Serving the Public Trust? Has Geithner?

Joshua Rosner | Posted 05.25.2011 | Politics
Joshua Rosner

If being a public servant is funneling unreasonable amounts of taxpayer capital, without market discipline, to the largest and most poorly managed banks, then Geithner's selection as Secretary of Treasury makes sense.

Shahien Nasiripour

Goldman Sachs Approached AIG To Scrap Contracts Months Before Being Paid In Full By NY Fed | Shahien Nasiripour | Posted 05.25.2011 | Business

This post has been updated with a quote from a senior Obama administration official. Goldman Sachs approached AIG and expressed its willingness to ca...