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Bailouts

Keeping the Wheels on the Obama Presidency

Lincoln Mitchell | Posted 12.15.2009 | Politics

Read More: Bill Clinton, White House, Europe, Public Option, Pragmatism, Joseph Lieberman, Economy, Bailouts, Progressives, Compromise, Jobs, Iraq, China, Democratic Party, Realism, Barack Obama, Marriage Equality, Wall Street, Rahm Emanuel, Oresident Obama, Single Payer, Health Care, Russia, Health Care Reform, Medicare, Joe Lieberman, Afghanistan, Politics News
Lincoln Mitchell

Because he cannot provide peace and prosperity, Obama needs to pass some meaningful legislation to demonstrate that he is doing something positive. Just getting a health care bill passed will mean nothing to many Americans.

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Obama: I Didn't Run For Office To Help 'Fat Cat Bankers'

Posted 12.11.2009 | Politics

Read More: Tarp, Obama 60 Minutes, Lobbying, Afghanistan, Bailouts, Financial Reform, Obama, Steve Kroft, Obama Interview, House, Senate, Bailout, 60 Minutes, Financial Crisis, Banks, Bonuses, Wall Street Bonuses, Wall Street, Politics News

President Obama takes aim at "fat cat bankers" and their aggressive lobbying efforts to defeat financial reform in an upcoming 60 Minutes interview se...

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Andrew Ross Sorkin Daily Show Interview: Take The Crack Pipe Away From Wall Street (VIDEO)

Huffington Post | Nicholas Graham | Posted 12.10.2009 | Books

Read More: Wall Street, Jon Stewart, Too Big to Fail, Authors, Andrew Ross Sorkin, Author Interviews, Bank Bailouts, Books, Wall Street Bailouts, The Daily Show, Bailouts, Books News

Andrew Ross Sorkin, the New York Times reporter who runs the influential business blog Dealbook, was a guest on The Daily Show last night to promote h...

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Postage and Other Economic Outrages Against Soldiers

Don McNay | Posted 12.08.2009 | Business

Read More: Military Families, US Soldiers in Afghanistan, Kentucky Guardianship Administrators, Working Class Families, Economic War, Bailouts, Christmas, Armed Services Committee, Fahrenheit 9/11, Working Class, Fort Campbell, Cnbc, Media Cycle, US Armed Services, Mutual Funds, Diana Henriques, Military, Army, Richmond Ky, Tiger Woods, HR 707, Check Cashing Companies, Air Force Marines, Postal Service, Navy, McNay Settlement Group, Popcorn, US Soldiers, Weapons of Mass Destruction, Federal Express, Postage Stamp, Senate Armed Services Committee, Congress, Support Troops, Fox Business News, House Armed Services Committee, Clu, Tiger Woods Mistresses, Soldiers, The American College, Lonely Soldier, Million Dollar Round Table, Fidelity Destiny Fund, NY Times, War Zone, Bobby Vinton, Ups, HR 2126, US Military, Main Street, Stars and Stripes, Iraq, Walter Reed Army Medical Center, Fox, Media, Kentucky Guardianship Administrators LLC, Peter Lynch, Wall Street Bailouts, Unemployment, Postage, Financial Crisis, Trillion Dollar Deficits, Lily Tomlin, US Soldiers Iraq, Lexington, Fidelity Investments, Structured Settlement, Msfs, Chfc, Economic Crisis, Payday Lenders, Body Armor, Kentucky, Don McNay, Fort Knox, Usps, Contractual Mutual Fund, Dhl, Tiger Woods Affair, Letters, House Armed Service Committee, Cnn, Wall Street, Vanderbilt University, Tax Refund Anticipation Loans, Eastern Kentucky University, Certified Structured Settlement Consultant, Afghanistan, Michael Moore, Cssc, Annuity, Life Insurance, Too Big to Fail, Body Bag, Annuites, Walter Reed, hb404, Business News
Don McNay

America ships soldiers off to Afghanistan and Iraq for free. If you come back in a body bag, they ship that back for free, too. However, we make families who send soldiers socks, food and underwear pay shipping costs.

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2009 Holiday Movie: It's Not A Wonderful Life

Dave Johnson | Posted 12.01.2009 | Politics

Read More: Banking, Banks, Financial Reform, Bailouts, Politics News
Dave Johnson

I am working with BanksterUSA and the Real Economy Project to help get financial regulations passed. Please take a minute to watch this video.

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TARP Failures Keep Taxpayers On The Hook; 33 Companies Miss Payment

Posted 11.16.2009 | Business

Read More: Tarp, White House, TARP Money, Lending, Economy, Bailouts, Regulation, Obama, Taxpayers, Recession, Wall Street, Bailout, Fed, Treasury, Banks, Citigroup, Cit, Business News

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...

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How to Live on $0 a Day: Assuaging Rage, One Prick at a Time

Lesley Stern | Posted 11.12.2009 | Comedy

Read More: George Bush, Citi, Insurance Companies, Justice, Hank Paulson, John Boehner, Real Housewives, Washington, Economy, Ben Bernake, Bailouts, Larry Summers, Psychology, Balloon Boy Dad, Humor, John Edward, Sarah Palin, Self-Help, Dick Cheney, Comedy, Bank of America, Goldman Sachs, Comcast, AT&T, Dr. Phil, Ken Lewis, Bill Kristol, Joe Jackson, Satire, Rupert Murdoch, Financial Crisis, Aetna, Jamie Dimond, Bernie Madoff, Rage, Lloyd Blankfein, Netanyahu, Depression, Chase, Mental Health, Rush Limbaugh, Carrie Prejean, Bin Laden, Recession, Advice, Jim Cramer, Vikram Pandit, Anger, Michele Bachmann, Wall Street, Tim Geithner, Glenn Beck, Joe Lieberman, Kim Zolciak, Shadegg, Ahmadinajad, Crooks and Liars, Disney, Comedy News
Lesley Stern

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.

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Of Billionaires, Bailouts and Bonuses

Les Leopold | Posted 11.11.2009 | Business

Read More: JP Morgan Chase, Goldman Sachs, Financial Crisis, Morgan Stanley, Wall Street Crisis, Great Depression, Bailouts, Business News
Les Leopold

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.

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Goldman Sachs CEO Lloyd Blankfein: "I'm Doing God's Work."

Times Online | John Arlidge | Posted 11.07.2009 | Business

Read More: Timothy Geithner, Goldman Sachs, Economy, Derivatives, Bailouts, Black Pools, Regulation, Credit Default Swaps, George Bush, Lloyd Blankfein, Policy, Goldman, London, Tim Geithner, Recession, Mortgage Crisis, Ben Bernanke, Henry Paulson, The City, Bailout, Barack Obama, Predatory Lending, Blankfein, Banks, Hank Paulson, Bonuses, Wall Street, Executive Pay, Business News

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...

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The House Financial Reform Bill: Don't Touch the Banks, Get a Smarter Fed

Dean Baker | Posted 11.03.2009 | Business

Read More: Banks, Bailouts, Financial Reform, Barney Frank, Too Big to Fail, Financial Crisis, Financial Regulation, House Financial Services Committee, Business News
Dean Baker

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.

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UK Banks To Sell Hundreds Of Branches After Bailout From Government

AP | RAPHAEL SATTER | Posted 11.02.2009 | Business

Read More: Uk, Nationalization, Financial Reform, Bailouts, Banks, Rbs, Northern Rock, Eu, Lloyds Banking Group, Credit Crunch, Fiscal Policy, Business News

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...

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2010: The Year Main Street Sticks It to Wall Street and Washington

Don McNay | Posted 10.27.2009 | Business

Read More: Mid Term Elections, Upheaval, Congress, Kentucky Guardianship Administrators, Hank Paulson, Lobbyists, Bailouts, Consumer Spending, Big Money, Roger Ailes, Lawrence Summers, Arianna Huffington, State Legislature, Cnbc, Economic Pain, Unemployed, Lexington KY, Spending Cuts, Wall Street-Washington, Andrew Ross Sorkin, Timothy Geithner, Kenneth Feinberg, Inside the Beltway, McNay Settlement Group, Incumbants, Republican National Committee, City Council, High Unemployment, Ky, Willie Stark, Democratic National Committee, Pay Czar, Fox Business News, Clu, Anger, Louisville, Million Dollar Round Table, Ben Bernanke, Alan Greenspan, Bonuses, Czars, Jefferson Airplane, Small Business, President Obama, Congressional Elections, 2010 Elections, Washington, Main Street, donmcnay.com, Tea Parties, Msnbc, Unemployment, Tea Baggers, All the Kings Men, Rural Journalism, Financial Crisis, Housing Crisis, Running for Office, President Bush, Richmond, American College, Incumbant Politican, Personal Finance, Msfs, Chfc, Small Towns, Kentucky, Don McNay, www.mcnay.com, Structured Settlements, Layoffs, Wall Street Bailouts, Wall Street, Vanderbilt University, Robert Penn Warren, Self Dealing, Eastern Kentucky University, Fox News, Certified Structured Settlement Consultant, Glenn Beck, Cssc, Too Big to Fail, Bill O'Reilly, Business News
Don McNay

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.

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The American Bankers Association's 15 Minutes of Fame in Chicago

Dean Baker | Posted 10.26.2009 | Business

Read More: Banks, Too Big to Fail, Bailouts, Fdic, Richard Durbin, American Bankers Association, Chicago, Aba, Sheila Bair, Business News
Dean Baker

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.

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How The US Blew The Trillion-Dollar Trade Of The Century

Bloomberg | Mark Fisher | Posted 10.26.2009 | Business

Read More: Geithner, John Thain, Hank Paulson, The Logical Trader, Bush, Bill Gross, Paulson, Bailouts, Economic Crisis, Bank of America, Aig, Obama, Bofa, Taxpayers, Barack Obama, Recession, Mark Fisher, Warren Buffet, Merrill Lynch, Wall Street, Bailout, Finance, Lehman Brothers, Fed, Tim Geithner, Bernanke, Treasury, Banks, Ben Bernanke, Business News

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...

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"Too Big To Fail" Legislation Is On The Way

New York Times | STEPHEN LABATON | Posted 10.26.2009 | Politics

Read More: Goldman Saks, Congress, Economy, Bailouts, Obama, Too Big to Fail Bill, Legislation, Ben Bernanke, Aig, White House, Bailout, Federal Reserve, Lehman Brothers, Bofa, Treasury, Gop, Consumer Protection Agency, Financial Crisis, Paul Volcker, Wall Street, Citigroup, Bank of America, Derivatives, Ben Bernanke Federal Reserve, Democrats, Recession, Barney Frank, House, House Financial Services Committee, Senate, Barack Obama, Tim Geithner, Banks, Bonuses, Too Big to Fail, Executive Pay, Politics News

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

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Plea$e, Mr. Feinberg! $ay it Ain't $o!

Fortune's Stanley Bing | Posted 10.22.2009 | Business

Read More: Executive Compensation, Kenneth Feinberg, TARP Payments, Bailouts, Business News
<i>Fortune</i>'s Stanley Bing

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.

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Administration Plans Big Pay Cuts At Bailout Firms

AP | MARTIN CRUTSINGER | Posted 10.22.2009 | Politics

Read More: Executive Compensation, Bailouts, Wall Street, Executive Pay, Barack Obama, Politics News

WASHINGTON — The Obama administration will order companies that received huge government bailouts last year to slash the base salaries of their ...

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Imagine No Foreclosures... (It's Easy If You Try)

Fortune's Stanley Bing | Posted 10.20.2009 | Business

Read More: Foreclosures, Banks, Federal Legislation, Bonuses, Bailouts, Business News
<i>Fortune</i>'s Stanley Bing

A spirit of enlightened responsibility and mutually assured destruction must be re-established on both sides of the equation -- lender and borrower alike.

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Does Citigroup Need China?

Dean Baker | Posted 10.19.2009 | Business

Read More: Banks, Bailouts, China Bonds, Economic Recovery, China Economy, China, U.S. China Economy, Citigroup, Business News
Dean Baker

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.

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Ryan Grim

Fannie, Freddie And Citi: The Rise Of The New Government-Sponsored Enterprise

HuffingtonPost.com | Ryan Grim | Posted 10.16.2009 | Business

Read More: Tarp, Government-Sponsored Enterprise, Bailouts, Gse, Wall Street, Business News

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...

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Citigroup Returns to Banking by Divesting Its Oil Trading Arm

Raymond J. Learsy | Posted 10.14.2009 | Business

Read More: Energy, Federal Bailouts, Phibro, Goldman Sachs, Citigroup, Morgan Stanley, Occidental Petroleum, Lehman, Oil, Treasury, Federal Reserve, Andy Hall, Jpmorgan, Bailouts, Business News
Raymond J. Learsy

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.

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Blankfein Interview: Goldman Sachs CEO Lloyd Blankfein Says Firm Got No Special Treatment, Plans Bonuses For 2009

The Wall Street Journal | HOLMAN W. JENKINS JR. | Posted 10.11.2009 | Business

Read More: Lloyd Blankfein, Finance, Hank Paulson, Blankfein, Banks, Blankfein Interview, Bonuses, Bailouts, Bailout, Investment Banks, Goldman Sachs, Paulson, Goldman Sachs Bonuses, Interview, Ceo, Goldman Sachs CEO, Henry Paulson, Treasury, Timothy Geithner, Business News

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...

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Arthur Delaney

Debtors' Revolt: Former Bank Of America Employee Boards The Bandwagon (VIDEO)

HuffingtonPost.com | Arthur Delaney | Posted 10.09.2009 | Business

Read More: Wall Street Bailout, Credit Cards, Debtors Revolt, Bank of America, Bailouts, Banks, Wall Street, Recession, Down Not Out, Business News

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...

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TARP Watchdog's Report: Treasury Misled Public On Bailouts

AP | MARTIN CRUTSINGER | Posted 10.05.2009 | Business

Read More: JP Morgan Chase, Tarp, Inspector General, Treasury Department, Geithner, Hank Paulson, Troubled Assets Relief Program, TARP Watchdog, Wells Fargo, Bailouts, Bank of America, Merrill Lynch, Wall Street, Finance, Barofsky, Neil M. Barofsky, Banks, Watchdog, Henry Paulson, Report, Timothy Geithner, Wachovia, Citigroup, Business News

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...

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Goldman Sachs To Be Paid $1 Billion If CIT Fails; Taxpayers Would Lose $2 Billion

Financial Times | By Henny Sender and Saskia Scholtes | Posted 10.04.2009 | Business

Read More: Chapter 11, Goldman Sachs, Credit Default Swaps, Finance, CIT Bankruptcy, Treasury, Cit, Timothy Geithner, Bankruptcy, Geithner, Lenders, Bailouts, Blankfein, Lloyd Blankfein, Business News

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...

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