TARP Failures Keep Taxpayers On The Hook; 33 Companies Miss Payment
According to The Washington Post, 33 companies that received a portion of TARP's $700 billion have not paid the federal government their most recent d...
According to The Washington Post, 33 companies that received a portion of TARP's $700 billion have not paid the federal government their most recent d...
Lesley Stern | Posted 11.12.2009 | Comedy
If you're quivering with rage just thinking about Wall Street, it's time to take action. I've discovered a way to achieve a semblance of inner peace without therapists, tranquilizers or weapons.
Les Leopold | Posted 11.11.2009 | Business
Let's weigh the pros and cons of the record bonuses going to Goldman Sachs, JP Morgan Chase and Morgan Stanley (and many others) during the worst economic crash since 1929.
Times Online | John Arlidge | Posted 11.07.2009 | Business
Goldman's reputation is suddenly as toxic as the credit default swaps and other inexplicably exotic financial instruments it used to buy with glee. Th...
Dean Baker | Posted 11.03.2009 | Business
The only people who seem to stand outside the consensus that too-big-to-fail banks are unacceptable are those who hold power and are steering the process of financial reform.
AP | RAPHAEL SATTER | Posted 11.02.2009 | Business
LONDON — The Royal Bank of Scotland, Northern Rock, and Lloyds Banking Group are to sell off as many as 700 branches in the next few years in exchan...
Don McNay | Posted 10.27.2009 | Business
If anyone has ever dreamed of being an office holder, 2010 is the year to do it. There are going to be several situations where voters elect a complete unknown, just to express their anger about the incumbent.
Dean Baker | Posted 10.26.2009 | Business
Like termites, the American Bankers Association does most of its damage in the dark. But the ABA is getting a brief period in the limelight this week as a result of the Showdown in Chicago.
Bloomberg | Mark Fisher | Posted 10.26.2009 | Business
When the government was forced to bail out the financial system, our friends in Washington also had the opportunity to make the trade of the century f...
New York Times | STEPHEN LABATON | Posted 10.26.2009 | Politics
A senior administration official said on Sunday that after extensive consultations with Treasury Department officials, Representative Barney Frank, th...
Fortune's Stanley Bing | Posted 10.22.2009 | Business
Thousands were involved, of course, but these 175 must stand in the forefront of their cadre, trembling, as their golden parachutes are folded up, their ceremonial swords broken over the knee of the government.
AP | MARTIN CRUTSINGER | Posted 10.22.2009 | Politics
WASHINGTON — The Obama administration will order companies that received huge government bailouts last year to slash the base salaries of their ...
Fortune's Stanley Bing | Posted 10.20.2009 | Business
A spirit of enlightened responsibility and mutually assured destruction must be re-established on both sides of the equation -- lender and borrower alike.
Dean Baker | Posted 10.19.2009 | Business
The decision by China to stop buying U.S. government debt may not harm the economy's recovery, but it could be devastating to the recovery efforts at Citigroup.
HuffingtonPost.com | Ryan Grim | Posted 10.16.2009 | Business
JPMorgan Chase: $3.6 billion in profits in the last quarter. Goldman Sachs: $3.03 billion. Analysts expect a string of sky-high profit announcements t...
Raymond J. Learsy | Posted 10.14.2009 | Business
It is scandalous that those in government vested with the responsibility of financial oversight have permitted a culture of "heads they win, tails we lose" to take hold and to grow into a financial Frankenstein.
The Wall Street Journal | HOLMAN W. JENKINS JR. | Posted 10.11.2009 | Business
Sitting across from me now in his comfortable office on the 30th floor of company headquarters in lower Manhattan, Goldman's CEO Lloyd Blankfein profe...
HuffingtonPost.com | Arthur Delaney | Posted 10.09.2009 | Business
A former Bank of America employee has joined the fledgling "debtors' revolt" movement. "I was an assistant branch manager for Bank of America for two...
AP | MARTIN CRUTSINGER | Posted 10.05.2009 | Business
WASHINGTON — The credibility of the government's $700 billion financial rescue program was damaged by claims a year ago that all of the initial bank...
Financial Times | By Henny Sender and Saskia Scholtes | Posted 10.04.2009 | Business
Goldman Sachs stands to receive a payment of $1bn -- while US taxpayers would lose $2.3bn -- if embattled commercial lender CIT files for Chapter 11 b...
Fortune's Stanley Bing | Posted 11.24.2009 | Business
Maybe Michael Moore's anti-capitalist screed is actually an interesting nexus where right and left converge in hatred of the system that rewards failure and lets the bad guys run the next iteration of the machine.
nypost.com | Paul Tharp | Posted 11.22.2009 | Business
Hank Greenberg's triumphant return to his beloved American International Group is nearly complete -- making him $588 million richer than he was in the...
Bruce Judson | Posted 11.21.2009 | Business
America is becoming an angry nation, with diminished faith in its institutions. There is a growing sense among all but the wealthiest Americans that "the game is rigged" against them.
HuffingtonPost.com | Dan Froomkin | Posted 11.18.2009 | Politics
Ever since the economy crashed and the government paid hundreds of billions of dollars to bail out the fat-cats who were responsible, a populist rage ...
AP | BETH FOUHY | Posted 11.13.2009 | Politics
NEW YORK — Despite sweeping Democratic successes in the past two national elections, continuing job losses and President Barack Obama's slipping...
Posted 11.16.2009 | Business