We were all victims of the financial crisis that began in 2007 (not 2008), but some of us suffered more than others. And, hundreds of millions of us are still living with the painful aftermath as its consequences began to be felt worldwide.
Now, we get Hank: Five Years from the Brink, in which former U.S. Treasury Secretary Henry "Hank" Paulson gives us a play-by-play of how he, Fed Chairman Ben Bernanke and Federal Reserve chairman Timothy Geithner, kept everything from collapsing while alternately massaging and challenging the various egos that ran the nation's largest banks.
If this government finally wants to send a signal to Main Street that it is no longer in the embrace in the tentacles of Wall Street, there is one person who won her spurs in spirited confrontation with Wall Street's power brokers and can wear their enmity as a badge of honor.
For journalists who are being told what a brilliant man and insightful regulator Larry Summers was behind the scenes, here are a few items from his public record you might want to review.
Many people make the error of believing that the banksters are dull, humorless stiffs in gray suits. Many banksters have a finely developed sense of irony and utter contempt for financial reporters' intelligence and independence.
When the great actor Matt Damon recently said that President Obama "broke up with me," he hit the jackpot of telling political truth in the eyes of many progressive Democrats and independents.
"You know you cannot trust them They know they can't trust you." -Steve Goodman (Jimmy Buffett) "Now Watergate does not bother me Does your conscien...
Right wing forces in this country are obsessed with the size of government, but the fundamental debate we should be having is not the size of government but what the goal of government should be: What should government's central mission be?
David Nasaw's biography of Joseph P. Kennedy, entitled The Patriarch, raises familiar memes about the patriarch of the Kennedy clan: how he prowled ar...
Misrepresenting oneself to oneself has to be the lowest form of self-flattery. Not only does it breach the mother of all truism -- "know thyself" (wri...
Timothy Geithner was a true believer. He just believed in the wrong things. While Washington debates the deficit, the big banks are bigger than ever -- and nobody's paying attention.
The accolades for Timothy Geithner came on so thick and heavy in the last week that it's necessary for those of us in the reality-based community to bring the discussion back to earth.
Despite often nice-sounding rhetoric from the president, this administration has continued with a wide range of policies antithetical to progressive values.
Still licking their wounds from the tax battle that featured the first tax rate increases on higher earners in 20 years, Republicans are sure to hold President Obama's feet to the fire in demanding steep budget cuts before they'll agree to raise the debt limit.
On Tuesday, Jan. 15, 2013, Fitch Ratings warned that if there is another Debt Ceiling Crisis, they could lower the U.S. credit rating. The U.S. is a...