iOS app Android app

Sl Crisis

Banking: Transfer Toxic Assets to a New RTC

Jerry Chautin | Posted 05.25.2011 | Business
Jerry Chautin

These banks are not able to resume normal lending operations because they are not willing to dispose of their toxic assets at the current market values.

William K. Black on Geithner: "The Guy Has a Track Record of Failure Everywhere He's Gone"

Cenk Uygur | Posted 05.25.2011 | Politics
Cenk Uygur

This is beginning to feel a little like before the Iraq War when some warned of impending disaster and the administration and mainstream media blew them off.

The Olympics of the Swindles

Rep. Major R. Owens | Posted 05.25.2011 | Business
Rep. Major R. Owens

The present economic collapse, which will surely devour more than a trillion taxpayer dollars within the next six months, utilized an earlier model -- the Savings and Loans swindle.

Sunday Roundup

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

Phil Gramm obviously had the quote of the week. Voters dealing with skyrocketing gas prices and collapsing home values just love being called "whiners" by a millionaire. This kind of out-of-touch condescension comes as no surprise to anyone who has followed Gramm's career. He's left his fingerprints on some of the worst economic debacles in U.S. history. He was a champion of energy deregulation, which gave us Enron and blackouts and price gouging. He was a champion of deregulating the savings-and-loan industry, the bailout of which cost taxpayers hundreds of billions of dollars. And his leadership on banking deregulation helped create the current sub-prime mortgage crisis. Republicans love to talk about Obama's lack of experience. I'll take fresh blood over Gramm's kind of track record any day of the week.

U.S. Mortgage Crisis Rivals '80s S&L Meltdown

Wall Street Journal | GREG IP , MARK WHITEHOUSE and AARON LUCCHETTI | Posted 05.25.2011 | Business

The home has long been the bedrock asset of most American families. Now, its value has become the biggest question mark hanging over the global econom...