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Fed Gaining Complete Control Over Money Supply

Michael Pento | Posted 05.25.2011 | Business
Michael Pento

We may now be abdicating complete control of our money supply to the government.

Washington Planning For Big Bank Failure

CNN Money | Colin Barr | Posted 05.25.2011 | Business

The government is bracing for a big bank failure. A bill introduced in Congress would give the FDIC, the agency that stands behind Americans' bank de...

What the Hell is Paulson Thinking???

Howard Schweber | Posted 05.25.2011 | Business
Howard Schweber

Paulson now says that the administration will not, after all, use any of the $700 billion to purchase asset-based securities. At this point it seems salient to ask, what the hell is going on?

Ryan Grim

New Treasury Plan Weakens Crucial Wall Street Accounting Rules | Ryan Grim | Posted 05.25.2011 | Politics

The financial plan announced today by Treasury Secretary Timothy Geithner appears to have accomplished, through a backdoor path, one of the top priori...

No Tough Love for Wall Street

Robert Scheer | Posted 05.25.2011 | Politics
Robert Scheer

For all the brave talk about transparency and accountability Geithner gave the swindlers who got us into this mess yet another blank check to buy up the "toxic assets" they gleefully created.

Rep. Sherman: CEO Pay Caps Could Be Removed From Stimulus Bill

Talking Points Memo | Elana Schor | Posted 05.25.2011 | Business

Rep. Brad Sherman (D-CA), a senior member of the House Financial Services Committee, has been a stalwart skeptic of the Treasury's bailout program sin...

Shameful Bankers: Time for a Revolution

Paul Jenkins | Posted 05.25.2011 | Business
Paul Jenkins

While there are many victims in the colossal Ponzi scheme that is the American economy, few of these victims have not in some way been complicit.

MMIX: 2009 is the Year of the Handgun

Justin Callaway | Posted 05.25.2011 | Style
Justin Callaway

I have never wanted a gun before, but I am seriously considering purchasing my first firearm. It's not just Obama-gun-snatching-fears, I also want to lock in my glock while I can still afford to.

Missing Minsky

John Tepper Marlin | Posted 05.25.2011 | Business
John Tepper Marlin

Hyman Minsky didn't live to see how closely this year's meltdowns would follow his predicted scenario, with the Lehman failure being one of several clear Minsky moments.

The Post-Madoff, Post-TARP Future of Financial Regulation

Jay Mandle | Posted 05.25.2011 | Politics
Jay Mandle

In this age of deregulation, it's been unfashionable to regulate even such things as power plants like public utilities, let alone financial markets. But it's time for that sort of regulation to come back into style.

Make Wall Street Take The Same Deal The Autoworkers Get

Chris Weigant | Posted 05.25.2011 | Business
Chris Weigant

If we're going to minutely examine autoworkers' wages, and dictate the travel plans of one industry we are bailing out, then it seems eminently reasonable to do the same for the banking industry.

Fox Business Network Sues Treasury Department

Huffington Post | Danny Shea | Posted 05.25.2011 | Media

Fox Business Network has filed a lawsuit against the Treasury Department over "failure to provide information on the bailout funds or respond to FBN's...

"Car Czar" Could Force Bankruptcy By April, In Proposal

Bloomberg | Posted 05.25.2011 | Business

The U.S. Treasury may adopt a plan that would let a car czar or the Treasury secretary force General Motors Corp. and Chrysler LLC into bankruptcy if ...

A Little Pre-Christmas Cheer

Steven Weber | Posted 05.25.2011 | Politics
Steven Weber

Okay, I don't wanna say I told you so, but...

Mortgage Re-Default Rates. Be Scared. Be Very Scared.

Peter Schwartz | Posted 05.25.2011 | Business
Peter Schwartz

Comptroller of the Currency John C. Dugan spoke before the 3rd Annual National Housing Forum of the Treasury's Office of Thrift Supervision today. He ...

Friday Talking Points [57] -- End Of Prohibition 75th Anniversary Edition

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

Brian Williams, NBC's talking head extraordinaire, is probably a decent guy, a guy with whom you could sit down and have a beer. [More on the alcohol...

Fed Intervention: Whatever It Takes

John Tepper Marlin | Posted 05.25.2011 | Business
John Tepper Marlin

Chairman Martin would surely be stunned by the activism of today's Fed -- and the breadth of agreement that it is doing the right thing -- as it drops monetary napalm on dangerously frozen peaks of our financial system.

Robert Rubin: Coward or Liar -- or Both?

Jonathan Tasini | Posted 05.25.2011 | Politics
Jonathan Tasini

It's Judgment Day. Rubin needs to get a pink slip and stand on the unemployment line with the vast sea of people he helped put there.

Friday Talking Points [55] -- "Bretton Woods II"? Not Quite.

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

I have to begin here today by stomping all over a cutesy term the media has come up with for the upcoming economic "summit" George W. Bush is holding ...

"Is Kashkari A Chump?" (VIDEO)

CNBC, AP | Posted 05.25.2011 | Business

Assistant Secretary of Treasury Neel Kashkari, the man in charge of the bailout, went to Washington, DC, today to testify in Congress. They didn't exa...

Larry Summers: The Country Needs Him

Beth Dozoretz | Posted 05.25.2011 | Politics
Beth Dozoretz

NOW is insisting that the mistake Summers made four years ago should disqualify him from Treasury Secretary. I strenuously disagree.

Insurers Lining Up for that Bailout Pie

Deborah Senn | Posted 05.25.2011 | Business
Deborah Senn

The insurers, having heard that Hank Paulson at Treasury is writing huge checks to bailout troubled banks, are pushing for government to help them get over their financial problems too.

Treasury To Invest In More Banks

Washington Post | Binyamin Appelbaum and David Cho | Posted 05.25.2011 | Business

The Treasury Department will announce as soon as today that a group of large regional banks have agreed to accept investments from the government, ind...

In Paulson We Trust

Robert L. Borosage | Posted 05.25.2011 | Business
Robert L. Borosage

What's needed is an independent agency with summary powers and an independent board, to work with the FDIC and other agencies to sort out the solvent banks from the broke, those that need to be saved from those that should fail.

Gordon Brown's Trumpet

John Tepper Marlin | Posted 05.25.2011 | Business
John Tepper Marlin

The first sound was a muffled rat-a-tat as the rise in housing prices in the first half of the millennium's new decade triggered concern about a bubbl...