iOS app Android app

Banks Bailout

Pulling Punches? Inside Job's Charles Ferguson's Latest: Predator Nation

Danny Schechter | Posted 07.29.2012 | Books
Danny Schechter

We need to ask ourselves why this liberal critique will be widely ignored and what we can do to insure it won't be. It is deserving of attention. I respect the prodigious effort, but what is also true is that the elite with whom he eats, or does business, is unlikely to be the agency for change.

Wall Street Bailout Failed To Rescue Main Street | Posted 10.28.2011 | Business

FOR the last three years we have been told repeatedly by government officials that funneling hundreds of billions of dollars to large and teetering ba...

Federal Reserve Releases Details Of Massive Loan Program During Crisis

Posted 05.25.2011 | Business

The Federal Reserve has just released a vast trove of documents that detail a massive $3.3 trillion dollar aid program offered to the financial indust...

Banks That Got The Biggest Bailouts Spent The Most On Lobbying

AP | By EILEEN AJ CONNELLY | Posted 05.25.2011 | Business

Disclosure reports show that the banks that got the most government help in late 2008 and early 2009 also invested the most to influence members of Co...

Why Is Obama to the Right of the Wall Street Journal, Greenspan, and McCain on Breaking Up Banks and Restoring Glass Steagall?

Miles Mogulescu | Posted 05.25.2011 | Politics
Miles Mogulescu

If, a year after Obama's victory, the Senatorial race to replace Ted Kennedy is close, it can largely be attributed to public disillusionment that Obama and the Democrats have given away too much taxpayer money to Wall Street banks.

Banking Crisis Until 2013: S&P

Reuters | Jonathan Stempel | Posted 05.25.2011 | Business

NEW YORK (Reuters) - A day after saying big U.S. banks probably needed to raise only one-fourth the capital demanded by the government, Standard & Po...

Stressless Tests: Our Treadmill Of Delusion

Anthony Citrano | Posted 05.25.2011 | Business
Anthony Citrano

The stress tests mostly overlook derivatives -- the $50 trillion elephant in the room -- by effectively letting banks apply their prior calculus in valuing them.

The Mega-Banks Behind the Meltdown

Bill Buzenberg | Posted 05.25.2011 | Business
Bill Buzenberg

It's time to set aside the myth of the mega-bank as victim. These banks aren't "too big to fail," but simply "too politically connected to fail."

AIG Staff: We Deserve This Money

The Hill | Ian Swanson | Posted 05.25.2011 | Business

AIG's new management team last year proposed that its employees give up their "retention" bonuses, or at least reduce them. The response from the 370 ...

Nationalization: It's Not Scary, It's All Around You

David Sirota | Posted 05.25.2011 | Politics
David Sirota

Before we get scared about the prospect of nationalization, let's remember: nationalization already pervades far more than the banking industry -- it's all around us.

Things I Don't Get

James Moore | Posted 05.25.2011 | Business
James Moore

Rick Santelli and others are guilty of extreme hypocrisy, the type that only raises its moral head when it serves a particular constituency.

An Open Letter to David Axelrod

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

It will take much stronger medicine to avert a depression than the measures taken to date, and the president needs to rally public opinion if he is to persuade Congress to act at the necessary scale.

Death To Zombies: Nationalize Banks Now

Henry Blodget | Posted 05.25.2011 | Business
Henry Blodget

Nationalization does not mean "government-run banks." It means temporary seizure and restructuring. Customers are protected. Depositors are protected. Jobs are protected.

Why Is Geithner Continuing Paulson's Policy of Violating the Law?

William K. Black | Posted 05.25.2011 | Business
William K. Black

Paulson and Geithner's refusal to comply with the law has already cost the taxpayers scores of billions of dollars in unnecessary costs. Geithner indicated Friday that he would continue to flout the law.

Help Wanted: Swedish Model to Kill Off Zombie Banks

Miles Mogulescu | Posted 05.25.2011 | Business
Miles Mogulescu

In order not to spook markets, Obama and a small team of financial commandos needs to orchestrate a sneak attack on the Zombie Banks.

The Politics of Bank Nationalization

Jay Mandle | Posted 05.25.2011 | Business
Jay Mandle

Nationalizing failed banks will not be an easy sell. The country has had a long romance with markets and the residue of that infatuation persists among significant segments of the population.

Trust: The Reason Bank Nationalization is Essential

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

Without trust, without confidence that your counterparty financing institutions can deliver or be trusted to execute the obligations they undertake, commerce as we know it will come to a standstill.

Time to Stop the Nationalization Rhetoric, and Let the System Work

David Paul | Posted 05.25.2011 | Business
David Paul

For years, America has told other countries how to deal with financial crises -- cut your losses. Clean up your balance sheets. Get on with it. This week, the stock market said the same thing.

The Problems of Nationalization Still Remain

Hale "Bonddad" Stewart | Posted 05.25.2011 | Business

How do me make the transition from private to public ownership with the smallest amount of disruptions -- especially at a time when the financial markets are hanging on by a thread?

Bailed Out Banks Sought Foreign Workers For High-Paying Jobs: AP

AP | FRANK BASS and RITA BEAMISH | Posted 05.25.2011 | Business

SANTA CLARA, Calif. — Major U.S. banks sought government permission to bring thousands of foreign workers into the country for high-paying jobs ...

Rescue Of Banks Hints At Nationalization

New York Times | EDMUND L. ANDREWS | Posted 05.25.2011 | Business

Last fall, as Federal Reserve and Treasury Department officials rode to the rescue of one financial institution after another, they took great pains t...

Small Banks Want Bailout Money

CNN | David Ellis | Posted 05.25.2011 | Business

The Treasury Department better order some new checkbooks. So far, the Treasury Department has invested $161.5 billion in 52 companies as of last week...