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Krugman: Deficit Hysteria Resembles Iraq War Scare Tactics

New York Times | PAUL KRUGMAN | Posted 05.25.2011 | Politics

These days it's hard to pick up a newspaper or turn on a news program without encountering stern warnings about the federal budget deficit. The defici...

Jeffrey Gundlach's Porn, Pot Stash Cited In Lawsuit Against Former TCW Manager

Posted 05.25.2011 | Business

The Treasury Department reportedly had a hard time finding hedge fund managers to get involved in PPIP, the government initiative intended to help fir...

Shelby Aide Tells Senator What CFPA Is, Dodd Says Consumer Agency Still In Reform Bill (VIDEO)

Huffington Post Investigative Fund | Posted 05.25.2011 | Politics

By Ben Protess and Danielle IvoryHuffington Post Investigative Fund WATCH: Has President Obama's plan to create a new consumer financial protection...

The Deficit Myth: The Misconception That Could Derail the U.S. Economy

Marshall Auerback | Posted 05.25.2011 | Business
Marshall Auerback

It is no coincidence that the budget surpluses of the Clinton years subsequently led to recessions: government budget surpluses ultimately restrict private sector demand and income growth.

Bernanke's Reappointment: A Colossal Failure Of Governance

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

Have we really reached the situation where the Senate must bow down before financial markets and high-ranking executives who are really just talking their book?

Geithner's Treasury May Help Banks Avoid Obama's Proposed Limits

New York Times | LOUISE STORY and ERIC DASH | Posted 05.25.2011 | Business

Only a year after the government stepped in to aid Goldman Sachs and Morgan Stanley by granting them access to the federal safety net, policy makers a...

France Pushed For AIG-Fed Deal To Pay Banks In Full With US Money

Bloomberg | Posted 05.25.2011 | Business

The Federal Reserve Bank of New York paid French banks 100 cents on the dollar to settle trades with American International Group Inc. in November 200...

Source: "Too Big To Fail" Legislation Is On The Way

New York Times | STEPHEN LABATON | Posted 05.25.2011 | Politics

A senior administration official said on Sunday that after extensive consultations with Treasury Department officials, Representative Barney Frank, th...

Why Are the Banks Not Lending More?

Pat Choate | Posted 05.25.2011 | Business
Pat Choate

Our leaders have chosen to shift the burdens onto the U.S. public and refuse to regulate Wall Street. It's almost as if Wall Street owns Washington.

Treasury To Big Banks: Repay Bailout Now

New York Times | Edmund Andrews | Posted 05.25.2011 | Business

Concluding that some of the nation's biggest banks are in good enough shape to raise capital from private investors, senior Treasury officials would l...

Jason Linkins

Treasury Touts Long-Available Derivatives Report As A Part Of Its 'New' Open Government Plan | Jason Linkins | Posted 05.25.2011 | Business

This morning, the folks at the U.S. Treasury Department put out a press release announcing their "Open Government Plan," which they are touting as a "...

Bank of America Trailing Behind Other Banks In Mortgage Relief

Washington Post | Renae Merle | Posted 05.25.2011 | Business

Bank of America employees are reminded every day of how far they still have to go. Just outside the elevators of their vast third-floor command center...

1 Out Of 4 Borrowers In Anti-Foreclosure Program Are Late Paying New Mortgage Bill

Washington Post | Renae Merle | Posted 05.25.2011 | Business

So far, more than 650,000 borrowers have been enrolled into the initial, or "trial," phase of the program and have seen their payments lowered by an a...

Government Pays Mortgage Servicers Billions, While Homeowners Suffer

McClatchy Newspapers | Chris Adams | Posted 05.25.2011 | Business

WASHINGTON -- The federal government is engaged in a massive mortgage modification program that's on track to send billions in tax dollars to many of ...

Fed Said to Ask Stress-Tested Banks to Submit TARP Repayment Plans

Bloomberg | By Scott Lanman and Craig Torres | Posted 05.25.2011 | Business

The Federal Reserve asked nine of the U.S. banks that were part of this year's stress tests to submit plans for repaying the government's capital inje...

Federal Reserve Profit: Fed Earns Record $45 Billion In 2009

Posted 05.25.2011 | Business

WASHINGTON (JEANNINE AVERSA -- AP) -- The Federal Reserve says it made a record profit of $46.1 billion last year as the central bank made money off i...

White House Looking To Cut Deficit With Extra TARP Cash | By DEBORAH SOLOMON and JONATHAN WEISMAN | Posted 05.25.2011 | Politics

The Obama administration, under pressure to show it is serious about tackling the budget deficit, is seizing on an unusual target to showcase fiscal r...

Banks' 2008 Stock Options Turning Out To Be Most Lucrative Payouts Ever

The New York Times | LOUISE STORY | Posted 05.25.2011 | Business

Banks cut bonuses last year and shifted more pay into stock and options from cash, a tactic that lawmakers supported for its emphasis on long-term per...

Banks That Sold Bad Debt Also Bet Against It

New York Times | GRETCHEN MORGENSON and LOUISE STORY | Posted 05.25.2011 | Business

In late October 2007, as the financial markets were starting to come unglued, a Goldman Sachs trader, Jonathan M. Egol, received very good news. M...

Happy Halloween: Pay Curbs are a Trick on the Taxpayer, Not a Treat

Marshall Auerback | Posted 05.25.2011 | Politics
Marshall Auerback

The new pay regulations are ostensibly designed to try to align the financial incentives of managers with the longer-term performance of their firms. This measure reeks of bogus populism.

Geithner: TARP Repayments Don't Hurt Bank Lending Ability

Bloomberg | Rebecca Christie | Posted 05.25.2011 | Business

Treasury Secretary Timothy Geithner said U.S. banks aren't hurting their ability to lend as they repay the Troubled Asset Relief Program and back away...

Shahien Nasiripour

Congressional Committees Quietly Kill Portion Of Derivatives Bill; No One Watching For Systemic Risk | Shahien Nasiripour | Posted 05.25.2011 | Business

Two congressional committees in charge of drafting legislation to regulate derivatives have quietly killed a provision that would allow the Federal Re...

TARP For Small Businesses: White House Looks To Bring Wall Street Rescue To Main Street

Washington Post | David Cho | Posted 05.25.2011 | Business

The Obama administration is developing a major initiative to tackle the economic and political problem of unemployment by getting federal bailout fund...

Goldman Sachs Bonuses: Columnist Says Analysts Predict $23 Billion Bonus Pool, Firm May Make Huge Donation

New York Times | ANDREW ROSS SORKIN | Posted 05.25.2011 | Business

By most analyst estimates, the annual bonus pool will swell to more than $23 billion. In its second quarter, Goldman disclosed it had put aside $11.4 ...

Geithner Interviewed By Bloomberg: Says Goldman Would Have Failed, Dismisses Tobin Tax (VIDEO)

Posted 05.25.2011 | Business

During an interview this week on Bloomberg's Political Capital with Al Hunt, Treasury Secretary Timothy Geithner disputed claims made by Goldman Sachs...