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Tag: Bailout

Obama pointing
White House / Pete Souza

Obama Brushes Off GOP’s Bailout Claim, Pushes On With Financial Reform

Congressional Republicans are mobilizing for an assault on President Obama’s next regulatory project: financial reform. However, Obama’s not hearing it when it comes to the GOP’s claim that the Democrats’ current bill would make it easier for big financial institutions to angle for government bailouts down the line.

Posted on Apr 14, 2010 READ MORE



One Marine’s ‘Liberty Walk’ for the Rest of Us

Ernest Logan Bell, a 25-year-old Marine Corps veteran walking 90 miles to make a point, is the new face of the resistance. He is young, at home in the culture of the military, deeply suspicious of the federal government, disgusted by the liberal elite, unable to find work and angry.

Posted on Apr 11, 2010 READ MORE



Flickr / U-g-g-B-o-y-(-Photograph-World-Sense-)

$40 Billion for Greece Bailout

The 16 nations that use the euro have just revealed an aid package of up to $40 billion in an effort to stem the Greek financial crisis. Finance ministers see the offer as a “step of clarification” for markets and a boost for the faltering euro.

Posted on Apr 11, 2010 READ MORE


Cry Me a River

Let us stop to collectively mourn a new figure from The New York Times: Chief executives in the United States’ largest publicly traded companies found that their compensation dropped 15 percent in 2009, hitting bourgeois rock bottom at a measly $9.53 million yearly average.

Posted on Apr 4, 2010 READ MORE


Left, Right & Center

‘Left, Right & Center’: A Nation Divided

Why is America so deeply polarized, politically speaking? This week’s episode of “Left, Right & Center” finds Robert Scheer and Tony Blankley discussing the partisan divisions in the country and agreeing at least on the point that those rifts have never been this deep. But why is there so much anger?

Posted on Apr 2, 2010 READ MORE


The Difference Between Liberalism and Progressivism

Even as the word progressive is now ubiquitous, a perverted form of liberalism has almost completely snuffed out genuine progressivism.

Posted on Mar 25, 2010 READ MORE



AP / Charles Dharapak

The Health Care Hindenburg Has Landed

As politicians go, Rep. Dennis Kucinich is about as good as they get, but he is still a politician. And so he signed on to a bill that will do nothing to ameliorate the suffering of many Americans, will force tens of millions of people to fork over a lot of money for a defective product and, in the end, will add to the ranks of our uninsured.

Posted on Mar 22, 2010 READ MORE



Flickr / eflon

Regulating Too Big to Fail

Coming only a year too late to the party, Fed Chair Ben Bernanke has asserted that regulators must be “significantly tougher” on the large financial firms, arguing that the perception of those institutions as “too big to fail” threatens competition in the financial markets.

Posted on Mar 20, 2010 READ MORE


All the King’s Horses and All the King’s Men

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Posted on Mar 14, 2010 READ MORE    



AP / Petros Giannakouris

Bailing Out Greece

In an effort to save the Greek economy, and by extension the euro itself, eurozone countries—the 16 European Union states that use the common currency—have agreed on a multibillion-euro bailout that also will impose financial austerity measures on Greece.

Posted on Mar 12, 2010 READ MORE


Bunning
AP / Harry Hamburg

Don’t Blame Bunning

How convenient that seemingly everyone in the liberal blogosphere, and even at many points to the right, got to use Jim Bunning as a scapegoat. The venom of the attacks suggests that the maverick Republican senator from Kentucky provided a welcome alternative to the real villains: bankers much closer to the centers of power.

Posted on Mar 3, 2010 READ MORE


Kohn
Wikimedia Commons / Federal Reserve

Fed’s Second in Command to Step Down

The Federal Reserve’s vice chairman, Donald L. Kohn, is ready to leave the building. Providing what could be a substantial opportunity for the Obama administration to change the central bank’s course, Kohn announced Monday that he’ll retire June 23, the official end date of his four-year term at the Fed.

Posted on Mar 1, 2010 READ MORE


‘Rescuing’ Iceland

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Posted on Feb 26, 2010 READ MORE


Treasury Department
AP / Evan Vucci

No Banker Left Behind

They do have a license to steal. There is no other way to read Tuesday’s report from the New York state comptroller that bonuses for Wall Street financiers rose 17 percent to $20.3 billion in 2009. Of course that is less than the $32.9 billion for bonus rewards back in 2007, when those hotshots could still pretend that they were running sound businesses. 

Posted on Feb 23, 2010 READ MORE


GM building
Flickr/richardefreeman

Big Bucks for GM Boss

It seems that the romantic notion of cutting back on executives’ astronomical salaries, especially execs at corporations that benefited from government funding, hasn’t exactly caught on like wildfire in the American auto business. Take General Motors, for example.

Posted on Feb 20, 2010 READ MORE



AP / Jack Plunkett

Austin Plane Attack: Tea Party Terrorism?

Authorities continue to investigate why Joe Stack of Texas flew his small airplane into the Austin offices of the IRS, but based on early reports and a tirade the attacker posted on the Internet, it had something to do with taxes, big government, corporate crime and bailouts. (continued)

Posted on Feb 18, 2010 READ MORE


Obama’s Nuclear Option

President Obama’s publicly financed resuscitation of the nuclear power industry in the U.S. is bound to fail, another taxpayer bailout waiting to happen.

Posted on Feb 16, 2010 READ MORE


The Origins of Tea Party Radicalism

The ferocity of the tea party movement’s opposition to President Obama is mystifying to political progressives. Most of the left simply doesn’t see the current occupant of the White House as especially liberal, let alone “socialist.”

Posted on Feb 10, 2010 READ MORE


Krugman
Wikimedia Commons / Prolineserver

Krugman Says Obama Is ‘Clueless’ About Outrageous Bonuses

There are few things, we imagine, that could elicit a heartfelt OMG (make that O.M.G., rather) from certified economics whiz and evident adult Paul Krugman, but President Barack Obama’s latest take on the egregious and profane bonuses of Wall Street executives has clearly tripped that wire in Krugman’s mind.

Posted on Feb 10, 2010 READ MORE



White House / Pete Souza

Wall Street Wants a Refund

“Buyer’s remorse” is the way Sen. John Cornyn, the Senate Republicans’ fundraiser, gleefully refers to Wall Street moguls’ current disenchantment with the U.S. president they thought they had bought.

Posted on Feb 10, 2010 READ MORE


Thain
U.S. Department of State

Former Merrill Lynch CEO Thain Tapped to Head CIT

John Thain is back. The ex-CEO of Merrill Lynch, who also once held top posts at Goldman Sachs and the New York Stock Exchange, has returned to the Wall Street fold, this time as chairman and CEO of the CIT Group. However, this time, one imagines, he won’t have a $35K commode at his disposal.

Posted on Feb 8, 2010 READ MORE



‘iBailout’: Pocket Activism

The creator of “iBailout!!” says he wants to put his socially conscious games in front of a mainstream audience that might not normally engage with politics and activism.

Posted on Feb 4, 2010 READ MORE



‘iBailout’: Pocket Activism

Nick Marroni says, “My goal is to make games that have social and political relevance.” To that end he has created a satirical iPhone game called “iBailout!!” You play as the “Fed,” a robot that eats money. Just don’t let the angry mob get you.

Posted on Feb 4, 2010 READ MORE


The GOP’s Dubious Populism

The most revealing moments in President Obama’s State of the Union address were not in his remarks, but the reaction to them by those listening on the Republican side of the aisle.

Posted on Feb 3, 2010 READ MORE


Spitzer and Colbert

‘Colbert Report’: Eliot Spitzer Has Nothing to Lose

Eliot Spitzer is attempting to work his way back into the public’s good graces, and the former New York governor braved “The Colbert Report” on Tuesday night, only to be roundly “condemned” by Stephen Colbert. However, Spitzer has a certain likability, Colbert admitted, which might have something to do with having nothing to hide anymore. (continued)

Posted on Feb 3, 2010 READ MORE


Obama at GOP retreat
youtube.com

Obama Confronts Critics (and Vice Versa) at GOP Retreat

Turns out that Barack Obama’s extemporaneous critique of the Supreme Court during his State of the Union speech Wednesday wasn’t the only such (apparently) unscripted moment he’d spend this week. On Friday, the president engaged in a frank exchange with Republican House members at a retreat in Baltimore, where he ... (continued)

Posted on Jan 29, 2010 READ MORE


Obama's arrival
White House / Pete Souza

Nice Speech. Now What?

Words won’t put people to work. Not even Obama’s eloquence—and he did reach that point on occasion—will be enough to inject courage into the gutless Democrats running from a mild heath care reform bill. Nor will words turn Republicans away from the unrelenting opposition they think will bring down the Democrats.

Posted on Jan 28, 2010 READ MORE



White House / Pete Souza

Obama’s First State of the Union—Full Remarks

It was his third address to a joint session of Congress in less than a year, and it had all the usual gestures toward bipartisanship, but Barack Obama’s big speech was not without sizzle. The president shamed Republicans for obstructing, Democrats for giving up and the Supreme Court for auctioning off our democracy.

Posted on Jan 27, 2010 READ MORE


Obama
AP / Alex Brandon

The Sorry State of the Union

The state of the union is just miserable, no matter how President Obama sugarcoats it. He will claim that progress has been made in stabilizing the markets, increasing national security and advancing toward meaningful health care reform, but he will be wrong on all three counts.

Posted on Jan 27, 2010 READ MORE


The Urgency of a Teddy Roosevelt Moment

The only proper response to the distortion of our political system by ideologically driven justices is a popular revolt of a sort deeply rooted in the American political tradition.

Posted on Jan 24, 2010 READ MORE


Paul Volcker
AP / Wong Maye-E

Paul Volcker to the Rescue

President Barack Obama might have done well to keep former Federal Reserve Chairman Paul Volcker in closer reach during his first year of office rather than rely on the dubious advice of Timothy Geithner and Lawrence Summers. Too late for that—but hopefully not too late for Volcker to help the president in his future dealings with Wall Street.

Posted on Jan 22, 2010 READ MORE



Original: Reagan Library

Democratic Corporatism Brings Reagan Back From the Grave

In a state where Democrats outnumber the GOP by a 3-to-1 margin, little-known Republican Scott Brown defeated his rival by demonizing the government and taxes.

Posted on Jan 21, 2010 READ MORE


Obama
bbc.co.uk

Obama Talks Tough on Banking Reform

In case you hadn’t noticed, not a heck of a lot has changed on Wall Street in the last year, despite various banking behemoths’ successful pleas for federal aid to float them out of the recession they were instrumental in creating. Well, that’s about to change—or so President Barack Obama says, at least. 

Posted on Jan 21, 2010 READ MORE



Flickr / eflon

Bernanke Offers Fed’s AIG Records to Gov’t Watchdogs

The Fed has nothing to hide about its dealings with AIG when it saved the too-big-to-fail insurance behemoth during the great bailout of 2008-9—or at least Federal Reserve Chairman Ben Bernanke has signaled his full willingness to make the central bank’s relevant “records and personnel” available to investigators from the Government Accountability Office.

Posted on Jan 19, 2010 READ MORE


Newsflash: Right Is Not Center

On economic issues, we are often told that right is center, center is left, and left is fringe. For a year, national reporters (with help from conservative talk-radio goons) have depicted the center-right Obama administration and its corporatist policies as quasi-Marxist.

Posted on Jan 14, 2010 READ MORE



commons.wikimedia.org / Ramy Majouji

Obama Wants a Wall Street Recovery Tax

President Barack Obama wants to slap a new tax on the country’s largest financial institutions in an ostensible attempt to “recover every single dime” given away in 2008’s Wall Street bailout. The tax was met with predictable fat-cat jeers, despite the fact that the industry has largely recovered from the crisis. 

Posted on Jan 14, 2010 READ MORE



White House / Pete Souza

The End of Wall Street Liberalism

If you held a contest to pick the worst thing a politician could be called at this moment, my nominee would be Wall Street Liberal—which is why President Obama’s new fees on the biggest banks comes just in time.

Posted on Jan 13, 2010 READ MORE


banking protest
AP / Mark Lennihan

Reich Urges Obama to ‘Take On Wall Street’

He’s not the only one saying this, but considering his background, Robert Reich is a pretty significant voice pointing out how, over a year since things went seriously south on Wall Street, “almost nothing has been done to prevent all hell from breaking loose again.”

Posted on Jan 13, 2010 READ MORE



AP / Richard Drew

Wall Street Will Be Back for More

When the bailout trillions run out, Wall Street’s maladjusted gamblers will come back for more until our currency becomes junk. Not that any of these people, who exhibit the same traits as psychopaths, have thought this through.

Posted on Jan 10, 2010 READ MORE



White House / Pete Souza

Rep. Cummings Wants Geithner to Testify About N.Y. Fed-AIG E-Mails

Back in 2008, when Treasury Secretary Timothy Geithner was just the lowly president of the New York Federal Reserve, he was involved in some interactions with embattled insurance giant AIG that apparently resulted in AIG withholding important information from the public. Now Geithner’s under pressure from at least one concerned member of Congress to testify about this matter.

Posted on Jan 8, 2010 READ MORE



Your Bailout Bill: $10,000 (and Counting)

The total price tag for each American for the financial bailout is about $10,000. Could be worse: Brits are paying more than $47,000 apiece. The unemployed bear the brunt of the meltdown, but we all carry a debt for saving Citi, AIG and the rest.

Posted on Jan 7, 2010 READ MORE


Obama and McCain
AP / Haraz N. Ghanbari

McCain Gets It, Obama Doesn’t

Maybe I got it wrong. During the presidential campaign I wrote columns blasting Sen. John McCain for siding with the big bankers on deregulation, citing his choosing ex-Sen. Phil Gramm, currently a vice chairman of the Swiss-owned banking giant UBS, as his presidential campaign chair.

Posted on Jan 6, 2010 READ MORE


iBailout!
gametrailers.com

Now You Too Can Be Among the Powers That Be—Thanks to ‘iBailout!!’

Leave it to the good ol’ U.S. of A. to produce this sort of thing: An enterprising gaming company by the name of Hands-On Mobile has created an iPhone game that allows users to play the part of the money-gobbling Fed. In this digitized satire the Fed actually eats angry citizens. But fear not ... (continued)

Posted on Jan 5, 2010 READ MORE


Why 2010 Doesn’t Have to Be 1994

Democrats can avoid a midterm rout if they get progressives excited without turning off independent voters. Here’s how.

Posted on Jan 3, 2010 READ MORE


Move Your Money

The filmmaker who gave us “Why We Fight” has crafted this powerful call to action out of scenes from “It’s a Wonderful Life” and documentary footage.

Posted on Dec 30, 2009 READ MORE



Flickr / eflon

What Do AIG’s E-Mails Reveal?

We all know the outcome now, but in the latter months of 2007 executives at AIG seemed to be only starting to catch wind of the problems that eventually led to the nationwide financial collapse the firm helped precipitate a year later. Were they just overly confident? Clueless? Or were they hiding the fact that they knew very well that the jig was up?

Posted on Dec 29, 2009 READ MORE


Fannie Mae
foreclosurewearhouse.com

Treasury Digging Deeper for Fannie and Freddie

Who knew the Treasury Department had such deep pockets? Well, besides all of Wall Street, we can put the beleaguered duo that is Fannie Mae and Freddie Mac on the list. The Treasury has obligingly removed the $400 billion cap previously assigned to the funding designated to save the two mortgage firms.

Posted on Dec 24, 2009 READ MORE


Nancy Pelosi
speaker.gov

Democrats Need More Pelosi, Less Reid

The fact is some can play this game and some can’t. Nancy Pelosi delivers time and again. Harry Reid hasn’t. The president and his chief of staff could use some coaching, too.

Posted on Dec 17, 2009 READ MORE



Federal Reserve

Bernanke Wins Senate Panel’s Support

It’s been a good week for Federal Reserve Chairman Ben Bernanke. First came the news that he’d been chosen to be Time magazine’s Person of the Year, and then, on Thursday, the Senate Banking Committee voted to approve his nomination to lead the Fed for another four years.

Posted on Dec 17, 2009 READ MORE


Whatever Happened to Shame?

What does it say when the New York Post hires Eliot Spitzer’s prostitute as a columnist and the bailout babies of Wall Street can’t be bothered to show up to the White House?

Posted on Dec 16, 2009 READ MORE


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