Moral Hazard On Wall Street
White House spokesman Robert Gibbs went after Rick Santelli of CNBC during today’s White House Press Briefing. He was responding to Santelli’s on-air rant yesterday from the floor of the Chicago Board...
View ArticleWhy Is Neel Kashkari Still Employed?
Neel Kashkari holds the title of “Interim Assistant Secretary for Financial Stability” at the Treasury Department. He was appointed by Bush Treasury Secretary Hank Paulson to manage the TARP funds. He...
View ArticleThe Taxpayer Gravy Train
Let me get straight to the point. If the Obama administration gives AIG the additional $30 billion that it says it will, then it is the Obama administration that is using taxpayer money to pay hundreds...
View ArticleGeithner In The Hot Seat
There are now serious questions being asked about Treasury Secretary Tim Geithner’s role in the AIG bonus scandal. It is clear now that Geithner knew long before this weekend about the AIG bonuses....
View ArticleBarack Obama’s Bonus “Outrage”
Barack Obama was outraged yesterday over the AIG bonuses. He was OUTRAGED. He said yesterday: This is a corporation that finds itself in financial distress due to recklessness and greed. Under these...
View ArticleRobbing The Taxpayer
The United States government is colluding with the banks to rob the taxpayer. That, in a nutshell, is the newly shaped Tim Geithner bank rescue plan. That, in a nutshell, was the Hank Paulson bank...
View ArticleWall Street Hearts Geithner
After the Treasury Department released the refurbished plan to buy up “legacy assets” (formerly known by the less tasteful moniker “toxic assets”) Wall Street responded with two thumbs up. Treasury...
View ArticleJoseph Stiglitz: “Robbery Of The American People”
Nobel Prize-winning economist Joseph Stiglitz does not like the Geithner plan: “The Geithner plan is very badly flawed,” Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment...
View ArticleNeel Kashkari Is Out
About a month ago I questioned why Neel Kashkari – the incompetent Treasury official in charge of the TARP program – was still employed. Today, we got some good news. Neel Kashkari is gone: Herbert M....
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