Among many amusing moments watching the Republican debate was seeing how they condemned the 2008 TARP plan to bail out the financial industry. They all made it sound like it was some Democratic government giveaway, which could not be further from the truth.
"We are the ones we have been waiting for."- thus said candidate Barack Obama who used it for a Presidential campaign speech in February 2008. Althou...
Conservatives proclaim that they believe in freedom and the free market. But freedom never meant the right of a handful of to steal most of the nation's wealth, run roughshod over the rest of us and wreck the country for a buck.
The Government Accountability Office says that our government has handed out $16 trillion to the banks. All of that money went from you and me to the banks. And we got nothing. Not even a toaster.
When I stepped down as the Special Inspector General for TARP at the end of March, I warned that HAMP was falling far short of its stated goals and even further short of meeting the urgent needs of American homeowners. Unfortunately, there has been little improvement since then.
In covering the Wall Street protests for CNN, Erin Burnett made her assumption that the demonstrators didn't really know what they were talking about crystal clear.
We've just learned about the Federal Reserve's extraordinary secret bailout of the country's big banks. How much outrage is required before people demand rigorous bank reform, strong regulation, and criminal investigations?
On Friday S&P downgraded U.S debt from AAA to AA+, the first such downgrade in the nation's history resulting in grave concerns over the outlook for the U.S. economy. Yet simultaneously they must have been popping champagne corks at Pimco.
In any reasonable negotiation, both sides can assume that certain outcomes can safely be ruled out, chief among them the possibility that one party wi...
If we don't break up this unholy alliance between banks and governments and the IMF and the ECB and the Fed now, the problem will only get worse.
As the debt ceiling debate swirls around Washington, no one is willing to believe that the Parties will engage in a form of Mutually Assured Destruction ("MAD") of the "full faith and credit of the United States."
The most pressing issue in America today is unemployment and jobs, not debt. Yet, somehow Washington has managed to get distracted and focus on the de...
We the people were heroic in rescuing so many Type A's and their financial sectors. I say heroic only because our act now seems selfless. It wasn't supposed to be that way. We had an agreement.
Falsehood creates a convoluted mess, a sense of disorder. Hold that thought and think "cause and effect" -- the financial crisis largely created our fiscal crisis leading now to the US national debt ceiling problem.
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.
Do the Republicans want to destroy the economy, believing they can blame Obama and the Democrats? Are Republicans willing to suck the life out of the economy to gain political power?