Ohioans have elected Mr. Tan, rested and ready to office 11 times despite the fact that there is no other politician on Capitol Hill who more embodies the ethic of sell-your-soul-to-the-1-percent. Mad about the bailouts of bad banks? Blame Boehner.
TARP -- the infamous Troubled Assets Relief Program that bailed out Wall Street in 2008 -- is over. The Treasury Department announced it will be completing the sale of the remaining shares it owns of the banks and of General Motors. But in reality it's not over.
I have never quite been able to understand how the decision was made to fire Richard Wagoner at GM but not Vikram Pandit at Citibank. Is running a huge bank really more complex than running a huge automobile manufacturer?
Think of Iraq as the AIG of wars -- the only difference being that the bailout there didn't involve just three payouts. More than eight years after the Bush administration invaded that country, the bailout is, unbelievably enough, still going.
September '11 is the moment the lobster said the water is getting too hot; it is the moment the people said the U.S. does not belong to those with the most money, but to working Americans whose voices have been ignored for too long.
The most striking lessons from the financial crisis and its aftermath already appear either to have been forgotten or to have never been learned. The American financial system can still be brought to its knees by the poor decisions of a small group of executives.
"You can't look at what happened in the run-up to 2008 and see how it's not going to repeat itself, given what we've done," says Neil Barofksy, who became TARP's Special Inspector General in December, 2008.
Last week, the Federal Reserve was forced by law to release the details of its back-door bailout of the global financial system. These later purchases represent the real risk for taxpayers in the Fed's continuing bailout activities