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Treasury

White House Mostly Overlooked Foreclosure Fraud Concerns, Sought Banks' Help With HAMP

The Washington Post | Posted 05.25.2011 | Politics

In recent days, amid reports that major lenders have used improper procedures and fraudulent paperwork to seize properties, some Obama administration ...

Dennis Kucinich, Vice President for the Commonwealth--and Some Details

Robert David Steele | Posted 05.25.2011 | Politics
Robert David Steele

Below, as a memory aid, are the previously identified elements and proposed leaders within the Vice Presidency for the Commonwealth, each linked to mo...

Tim Geithner Ignores Volcker Rule, Touts 'Financial Innovation'

The New York Times | SIMON JOHNSON | Posted 05.25.2011 | Business

Amazingly, Mr. Geithner made no reference to the Volcker Rule, either explicitly or even implicitly -- despite the centrality of this idea to the rece...

U.S. Anounces Plan To Sell Some Of Its Citigroup Shares

The Huffington Post | William Alden | Posted 05.25.2011 | Business

The government plans to sell some portion of $2.2 billion worth of Citigroup securities, in the latest effort to repay taxpayers for the public rescue...

Arthur Delaney

Franken: Foreclosure Paperwork Scandal Shows Need To Strengthen HAMP

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011 | Business

The revelation that massive numbers of foreclosures may be tainted by bogus paperwork from mortgage servicers is further evidence that the Obama admin...

Ryan Grim

Frank: Elizabeth Warren Didn't Want Permanent Appointment

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Politics

Elizabeth Warren made it clear to the White House while it was debating her nomination to the Consumer Financial Protection Bureau that she was not in...

William Alden

After Lehman's Collapse, 'Largest Arbitrage Ever' -- And Deals On Art

HuffingtonPost.com | William Alden | Posted 05.25.2011 | Business

The turmoil after Lehman Brothers' bankruptcy two years ago created a rare money-making opportunity for a certain type of debt trader, according to a ...

Warren: A Huge Win

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

In an administration dominated by Rubinistas, Warren will literally be the first financial progressive with both a personal connection to the president as well as an independent power base.

Kabul Bank Bailout? Mahmoud Karzai, President's Brother, Calls For U.S. To Shore Up Bank

AP / Huffington Post | Posted 05.25.2011 | World

Hamid Karzai's older brother wants the U.S. to guarantee deposits at Afghanistan's largest bank to stop a developing bank run fueled by fears of fraud...

Weekly Audit: Save Affordable Housing, Help Revive America's Middle Class

The Media Consortium | Posted 05.25.2011 | Politics
The Media Consortium

by Zach Carter, Media Consortium blogger Over the past decade, Fannie Mae and Freddie Mac transformed themselves into some of the worst-run companies ...

Obama's G20 Financial Reform Letter Shows Empty Rhetoric: Financial Reform Has Failed

BaselineScenario.com | Simon Johnson | Posted 05.25.2011 | Business

The House-Senate reconciliation process is still underway and some details will still change. But the broad contours of "financial reform" are already...

Public Private Partnerships, Public Transportation and Jobs for LA

Joel Epstein | Posted 05.25.2011 | Los Angeles
Joel Epstein

With the financial markets gyrating and Tim Geithner talking again about the need for more economic stimulus, I'm finding it hard not to holler, "It's about investing in public transportation, stupid!"

Response to David Stockman's 'Four Defamations of the Apocalypse'

Warren Mosler | Posted 05.25.2011 | Politics
Warren Mosler

David Stockman, a director of the Office of Management and Budget under President Ronald Reagan, is working on a book about the financial crisis and r...

Spewing Oil Well Could Still Be Moneymaker For BP

McClatchy | Erika Bolstad | Posted 05.25.2011 | Green

WASHINGTON -- BP's runaway deepwater well could still become a moneymaker for the company, even as it tries to stem the gush of crude oil that's fouli...

Geithner To Bankers: Don't Fear Reform

AP / Huffington Post | Posted 05.25.2011 | Business

NEW YORK-- Treasury Secretary Timothy Geithner traveled to New York City on Monday to tell bankers and the financial industry that new financial regul...

SIMON JOHNSON The Bank Lobbyists Are Wrong: Why Higher Capital Standards Are Needed

New York Times | Simon Johnson | Posted 05.25.2011 | Business

At one level, the pursuit of higher and more robust capital requirements for banks is not going well. The United States Treasury insisted, throughout ...

The Most Dangerous Investment

James Berman | Posted 05.25.2011 | Business
James Berman

A United States Treasury Bond is now the most expensive, most dangerous investment asset in the world -- while blue chip equities, especially American and European Multinational stocks are as cheap as they've ever been.

U.S. G20 Message: Stimulus Money Vital To Economic Recovery, Don't Pull Back Yet

AP / Huffington Post | JEANNINE AVERSA | Posted 05.25.2011 | Business

TORONTO — World leaders must work together to make sure the global recovery stays on track, Treasury Secretary Timothy Geithner said Saturday. Geit...

More Jobs = Less Debt

Gerald McEntee | Posted 05.25.2011 | Politics
Gerald McEntee

In the worst economy since the Great Depression, far too many Americans are out of work. Despite the rising fears of more job losses, the Senate is refusing to do what is necessary to protect and create jobs.

'Chuck Prince' Is Going To Run This Bank (Into The Ground)

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

The following is also posted on Johnson's blog, BaselineScenario.com. "Breaking up big banks would actually increase system risk" is a refrain heard f...

Shahien Nasiripour

Bailout Watchdog Criticizes Geithner Over Obama Housing Plan

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The panel created to keep tabs on the federal bailout grilled Treasury Secretary Timothy Geithner on Tuesday over the lackluster performance of the ad...

Financial Debate Renews Scrutiny On Size Of Banks

New York Times | Posted 05.25.2011 | Business

As the debate over the regulatory overhaul heated up this week, a populist minority in both Congress and the Fed requested a revisit to the size issue...

Stiglitz On Senate Financial Reform Bill: 'Too Little' Protection

Politico | Joseph E. Stiglitz | Posted 05.25.2011 | Business

Our regulatory system failed partly because we had regulators who didn't believe in regulation. Unless we "hard-wire" stronger regulations into our sy...

Will the Washington Crew Ever Notice the Housing Bubble?

Dean Baker | Posted 05.25.2011 | Business
Dean Baker

Remarkably, the folks in charge still have no clue about the housing bubble. How else can anyone explain the Obama Administration's latest proposal for helping out underwater homeowners?

GOP Senators Blocking Key Treasury Appointees Over Minor, Unrelated Legislative Battles

Washington Post | David Cho | Posted 05.25.2011 | Politics

For more than a year, the Treasury Department has grappled with a monumental global economic crisis while many of its most senior people have had to w...