The Question Tim Geithner Refuses To Answer
Why is Geithner bailing out the people who lent trillions of dollars to our now-insolvent banks? Who are these people?
Wall Street Bailout
Creating A Register of Shame For White-Collar Malefactors
Philip Slater | Posted 04.25.2009 | Business
Why should the corporate miscreants who did untold harm to millions upon millions of their fellow citizens, remain largely anonymous, shielded from public scorn?
Wall Street, Geithner, and Defunct Economics Threaten Obama's Leadership
Ann Pettifor | Posted 04.24.2009 | Business
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Robert Rubin,
Wall Street Bailout,
Nelson Mandela,
Timothy Geithner,
Alan Greenspan,
Wall Street,
Lawrence Summers,
Financial Crisis,
Business News
President Obama is in danger of making the same mistake Nelson Mandela made. Obama is abrogating power to shape the recovery of the US economy, and handing over the leadership to Wall Street and lesser mortals.
Business School Rankings For Bailed Out Bankers, CEOs (SLIDESHOW)
businessinsider.com | Joe Weisenthal | Posted 04.23.2009 | Business
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Wall Street Bailout,
Business School,
Business Schools Rankings,
Business School Rankings,
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No big surprise: Most of the bankers, politicians and regulators who got us into this mess went to a handful of elite universities and business school...
Rolling Stone: How Wall Street Insiders Are Using Bailout To Stage A Revolution
Rolling Stone | Posted 04.22.2009 | Business
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Wall Street Revolution,
Wall Street Bailout,
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It's over -- we're officially, royally fucked. no empire can survive being rendered a permanent laughingstock, which is what happened as of a few week...
AIG Underbidding Insurance Rivals and Why We Should Be Really Angry
Don McNay | Posted 04.22.2009 | Business
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60 Minutes,
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AIG Bonus,
AIG Scandal,
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If AIG loses millions, or billions, in the future due to its "overly aggressive pricing" we are going to be picking up the tab.
Sunday Roundup
Arianna Huffington | Posted 04.21.2009 | Politics
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Wall Street Bailout,
Bailout,
Aig Bonuses,
Auto Loan,
Banking Crisis,
Zombie Banks,
Tonight Show,
Obama on Leno,
Student Loans,
Obama Special Olympics,
Politics News
Barack Obama's Special Olympics line on Leno got all the headlines, but the night's real money quote was his saying that his administration plans to "set up a securitized market for student loans and auto loans outside of the banking system" in order to "get credit flowing again." Excuse me, but isn't that what the $700 billion bank bailout was supposed to do? So what happened? Instead of lending the billions we gave them, Obama explained to Leno, the bailed out banks "are keeping it in the bank because their balance sheets had gotten so bad." Imagine that: zombie banks using taxpayer money to stay afloat. If the White House really didn't see that one coming, it's no wonder the ferocity of the public's reaction to the AIG bonuses caught them so off-guard.
Stop the Financial Services "Super Czar" (Updated)
Don McNay | Posted 04.20.2009 | Business
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Fiddler on the Roof,
Wall Street Bailout,
Populism,
Hank Paulson,
Shelia Bair,
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Insurance,
Obama Average Americans,
Washington,
Kentucky,
Constitution,
Wall Street Bonuses,
Lexington KY,
National-Association-of-Insurance-Commissioners,
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Fdic,
Financial Services,
Systemic-Risk,
Aig,
Don McNay,
Representative-Government,
Insurance Companies,
FDIC Chairman Sheila Bair,
Barack Obama,
Wall Street Regulators,
Tim Geithner,
Deregulation,
Car Czar,
Banking Crisis,
Ben Bernanke,
Systemic Risk Regulator,
House Financial Services Committee,
Bailout Outrage,
Business News
There has been talk about appointing a new "Systemic Risk Regulator." This "Super Czar" would oversee all of the financial services industry. We had a "Super Czar" last year. His name was Henry Paulson.
AIG Bonuses Spark Chicago Street Protest (VIDEO)
AP | Posted 04.19.2009 | Chicago
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Several hundred workers have protested outside Chicago-area financial institutions, calling for an end to corporate bailouts. The Service Employees I...
Lessons from AIG
Robert Weissman | Posted 04.19.2009 | Business
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Wall Street Bailout,
Aig Bonuses,
Financial Derivatives,
Antitrust,
Larry Summers,
Aig,
Rubin,
Alan Greenspan,
Executive Compensation,
Wall Street Bonuses,
Glass-Steagall,
Bailout Outrage,
Business News
What is vital now is that the public's righteous anger is not expressed only as "no." There are a lot of things to which We The People do need to say "no." But we need a lot of "yes's," too.
AIG Plutocrats Pilfer the Public
Diane Francis | Posted 04.19.2009 | Business
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Wall Street,
Economic Crisis,
Meltdown,
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Geithner,
Wall Street Bailout,
Recession,
Business News
What is scandalous is not only the US$165 million in AIG bonuses. It's the US$180 billion which has been shoveled into AIG by taxpayers to date, funds...
Good Work, AIG!
Jonathan Richards | Posted 04.16.2009 | Politics
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Wall Street Bailout,
Bailout,
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The bonuses may seem greedy, but look what quality stuff they're producing! ...
Powerball Jack and the Wall Street Bailout
Don McNay | Posted 04.16.2009 | Business
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West Virginia,
Main Street,
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Wv,
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Merrill Lynch,
Private Jets,
Hurricane West Virginia,
Kentucky,
Wall Street Bonuses,
Lexington KY,
Personal Finance,
Casinos,
Lottery,
Toliets,
Annuities,
Lotteries,
Powerball,
Lottery Winner,
Charleston,
Aig,
Don McNay,
Structured Settlements,
Wall Street,
Citigroup Bailout,
Annuity,
Citigroup,
Business News
If the people on Wall Street knew that no one would ever be there to bail them out, ever again, they would be less inclined to gamble with instruments they don't really understand.
Larry Summers: Stop the AIG Bonuses. Yes You Can.
Aaron Zelinsky | Posted 04.15.2009 | Business
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Wall Street Bailout,
Timothy Geithner Treasury Secretary,
Internal Revenue Code,
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Aig Bonuses,
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Lawrence Summers,
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Aig,
AIG Ba,
Bailout,
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Tim Geithner,
Executive Compensation,
Larry Summers Treasury Secretary,
Economy,
Bank Bonuses,
Recession,
Federal Bailouts,
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Bonuses,
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AIG Scandal,
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Larry Summers claims that nothing can be done about the AIG bonuses. As a former Secretary of the Treasury, he should know better.
The Tricky 2009 Politics of Finance
Kevin Phillips | Posted 04.13.2009 | Business
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Bill Clinton,
Robert Rubin,
Geithner,
Neel Kashkari,
Wall Street Bailout,
Hank Paulson,
Bailout,
Rahm Emanuel,
Tim Geithner,
Henry Paulson,
Financial Crisis,
Timothy Geithner,
Ben Bernanke,
Business News
Paulson has left, to be sure, but his spirit (and his aides) linger on under Geithner. This doesn't quite seem like "real" change.
The Positive Economics of Food Stamps
Don McNay | Posted 04.09.2009 | Business
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Bookmaker,
Welfare,
Wall Street Bailout,
Food Stamps,
Economy,
Gambler,
Cincinnati,
Main Street,
Aig,
Don McNay,
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Bookies,
Merrill Lynch,
Food Stamp Program,
Bailout,
Grocery Stores,
Kentucky,
Food,
Economic Stimulus,
Personal Finance,
Citigroup,
Business News
A program that gives back $1.73 for every dollar spent is a better return than Wall Street is offering.
Is Obama-Love Holding the Economic Pitchforks & Torches at Bay?
Phil Bronstein | Posted 04.09.2009 | Politics
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Wall Street Bailout,
Phil Bronstein,
Politics,
Barack Obama,
Economy,
100 Days,
Obama First 100 Days,
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There's something the president is doing effectively, charged rhetoric and gauntlet-throwing policies notwithstanding: he's doing a hell of a job keeping the lid on things.
CEO Compensation Increases Despite Firms' Troubles
Huffington Post | Julie Satow | Posted 04.09.2009 | Business
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Wall Street CEOs,
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Executive Pay,
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Companies may be floundering, but some chief executives continue to see their pay checks grow. According to Crain's New York Business: Amid the...
Looking for Bailout Love in All the Wrong Places
Don McNay | Posted 04.03.2009 | Business
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Citigroup CEO,
Wall Street Bailout,
Hank Paulson,
Wayne Rogers,
Lobbyists,
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Common Sense,
Aig,
Citigroup Rescue,
Bailout,
Insurance,
Maria Bartiromo,
Hank Greenberg,
Mash,
Kentucky,
Lexington KY,
Personal Finance,
Credit Card Industry,
New AIG Bailout,
Bad People,
Maurice "Hank" Greenberg,
Auto Insurance,
Cnbc,
AIG Bailout,
Don McNay,
Credit Card Debt,
Credit Cards,
Insurance Companies,
Insurance Industry,
Robert Rubin,
Debt Collectors,
Citigroup Stock,
Credit Card Interest Rates,
Wall Street Crisis,
Citigroup Bailout,
Good People,
American Insurance Group,
Bad-Deals,
Ron Shelp,
Good-Deals,
Citigroup,
Bailout Outrage,
Business News
Citigroup and AIG employ thousands of good people. But they have had rotten apples in leadership. They created a culture that is probably impossible to change or fix.
Capitalism - the Gift That Keeps on Taking: Part I
Michael Gene Sullivan | Posted 04.17.2009 | Politics
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Wall Street Bailout,
Government Bailout,
Bailout,
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Corporate Power,
Socialism,
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Business,
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Most Americans are not capitalists. They might want to be capitalists, but no matter how much you, or that hardworking barista, that well paid techno-nerd, small farmer, or gangsta rapping bank teller may want to be capitalists, you are not capitalists. You are workers.
Citigroup, Gov Reach Deal For Up To 36% Stake
AP | MARTIN CRUTSINGER | Posted 03.30.2009 | Business
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Wall Street Bailout,
Geitner Nationalization,
Nationalization,
Bailout,
Citigroup 40%,
Citibank,
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Geithner Nationalization,
Citi Nationalization,
Geithner Citibank,
Citigroup Nationalization,
Citigroup,
Business News
WASHINGTON — The U.S. government will exchange up to $25 billion in emergency bailout money it provided Citigroup Inc. for as much as a 36 perce...
Stress Test Details Revealed, "Not Harsh Enough" Say Critics
New York Times | EDMUND L. ANDREWS and ERIC DASH | Posted 03.29.2009 | Business
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Wall Street Bailout,
Bailout Banks,
Bailout,
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WASHINGTON -- The Obama administration ordered the nation's 19 biggest banks on Wednesday to undergo stress tests to check whether they could hold up ...
The Billions of Our Economy Versus the Trillions of High-finance: The New Asymmetry
Saskia Sassen | Posted 03.28.2009 | Business
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Wall Street Bailout,
Gdp,
Bailout,
Finance,
Banks,
Congressional Budget Office,
Business News
The real challenge we face is how to switch out of the hyper-financial mode of the last two decades. It is not to rescue zombie banks.
The Search for a Bailout End Game
Don McNay | Posted 03.27.2009 | Business
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John F. Kennedy,
Iraq Surge,
Congress,
Automaker Bailout,
Wall Street Bailout,
Howard Beale,
Economy,
Rick Santelli Video,
Economic Crisis,
Aig,
Cincinnati,
Don McNay,
Stimulus,
Henry VIII,
Barack Obama,
Rick Santelli Revolution,
Thomas More,
US Economy,
Iraq War,
Wall Street Crisis,
Economic Stimulus Package,
Bailout,
Henry Paulson,
Kentucky,
Rick Santelli,
Economic Stimulus,
Lexington KY,
Republicans,
Citigroup,
Business News
Every bailout plan reminds me of an economic re-run of the Iraq war: There is a lot of panic. A hastily written plan sweeps through Congress without scrutiny. The plan is expected to "shock and awe" us.
Bailout Banks Survival Guide: Rating The Top 12 Banks
MoneyMorning.com | Martin Hutchinson | Posted 03.23.2009 | Business
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Wall Street Bailout,
Government Bailout,
Bailout,
Bank of America,
Banks,
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Business News
We listed the 12 largest U.S. banks by assets, as of Dec. 31, ignoring foreign-owned banks, Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS) (tho...
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Henry Blodget | Posted 04.30.2009 | Business