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Losing the News

Losing the News

By Alex Jones
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Tag: Geithner


Frederic Legrand / Shutterstock.com

Tim Geithner and the Wall Street Bailout Redux

Timothy Geithner’s new book about the financial crisis, “Stress Test,” is basically an argument that the Wall Street bailout succeeded.

Posted on May 14, 2014 READ MORE



Is Paris’ Pollution Getting Worse Than Beijing’s?

Air pollution has reached extreme levels in the French capital, prompting the government to take desperate measures; an American pastor is partly to blame for the passing of Uganda’s anti-gay law; meanwhile, the Occupy Wall Street organizers have launched a political party. These discoveries and more after the jump.

Posted on Mar 15, 2014 READ MORE



Geithner Says GOP Will Cave, Allen West Compares Himself to Lincoln, and More

A look at the day’s political happenings, including what a new analysis says about your tax rates today, the Kennedy Center Honors for 2012 will be awarded and Nate Silver responds to Politico’s criticism.

Posted on Dec 2, 2012 READ MORE



White House / Pete Souza

Will Timothy Geithner Lead Us Over or Around the Fiscal Cliff?

If “pragmatic deal maker,” as The Wall Street Journal describes Geithner, means someone who believes any deal with Republicans is better than no deal, and deficit reduction is more important than job creation, we could be in for a difficult December.

Posted on Nov 27, 2012 READ MORE



Dominic's pics (CC BY 2.0)

Fed, Geithner Knew of False Libor in 2008

The Federal Reserve and the U.S. government knew back in 2008 that Barclays was filing false reports about Libor, the interest rate that international banks charge one another for short-term loans, according to documents released Friday.

Posted on Jul 13, 2012 READ MORE



Wall Street Occupiers Make Gains

The Occupy Wall Street protests are making more than just a splash; LGBT activists join the Occupy Wall Street protests to assert their rights; meanwhile, a secret panel places Americans on a “kill list.” These discoveries and more after the jump.

Posted on Oct 8, 2011 READ MORE



AP / Evan Vucci

Obama Does the Math on Deficit Reduction

President Obama rolled out a plan on Monday to reduce the federal deficit by $3 trillion over the next decade by combining cuts to benefit rights and war savings with tax increases. (more)

Posted on Sep 19, 2011 READ MORE



Flickr / SpeakerBoehner

Obama Thinks Big, Republicans Balk in Deficit Talks

No visible progress was made during deficit talks Sunday in which President Barack Obama failed to persuade House Republicans to support $4 trillion in cuts over the next 10 years. (more)

Posted on Jul 10, 2011 READ MORE



Flickr / SS&SS

The Way Away From a Second Term

In his first essay for New York Magazine since quitting The New York Times last spring, Frank Rich thoughtfully details Barack Obama’s failure to push back against the financial wheeler-dealers who drove the country to the brink of ruin ... (more)

Posted on Jul 5, 2011 READ MORE



AP / Paul Sakuma

Invasion of the Robot Home Snatchers

How do you foreclose on a home when you can’t figure out who owns it because the original mortgage is part of a derivatives package that has been sliced and diced so many ways that its legal ownership is often unrecognizable?

Posted on Oct 12, 2010 READ MORE



AP / Susan Walsh

So Long, Summers

Finally! The announced departure of Lawrence Summers as the president’s top economic adviser is welcome news. Harvard’s loss in taking back its $586,996-a-year professor and “president emeritus,” who is also paid millions by Wall Street on the side, is the nation’s gain.

Posted on Sep 21, 2010 READ MORE



AP / Susan Walsh

Summers Leaving White House Post-Midterms

President Barack Obama is reportedly going to lose another member of his economic advisory team, and a big one at that, after the midterm elections this fall. The Bloomberg news service brought word Tuesday that Larry Summers plans to leave the White House before the end of 2010. Updated

Posted on Sep 21, 2010 READ MORE



Flickr / U.S. Treasury Department

Don’t Count on Us

In the face of the stereotypical image of Americans as free-spending consumers, Treasury Secretary Timothy Geithner has told his international finance colleagues that G20 countries should not rely on American buyers for their products as they travel the road to economy recovery.

Posted on Jun 5, 2010 READ MORE


Geithner
AP / Jose Luis Magana

Geithner Pushes to Restrict, Not Ban Derivatives

In a letter to a ranking Senate Democrat, Treasury Secretary Timothy Geithner called for restrictions on derivatives—those financial instruments whose value is derived from other instruments—but stopped at an outright ban on the trading practices that helped lead to the current financial crisis.

Posted on Apr 16, 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

Financial Oversight: We’re Still Waiting, Mr. President

We have a “regulation czar,” but no new regulations. It seems we can expect little from those with a track record of enabling bad policies.

Posted on Dec 8, 2009 READ MORE


Is It Time for Financial Institutions to Give Back?

It seems plausible that payback time has arrived for the international financial community. The principal obstacle here is, at the moment, the Obama administration.

Posted on Dec 1, 2009 READ MORE



White House / Pete Souza

Geithner’s Fed Made AIG Pay Banks to the Max

That Timothy Geithner must love the big banks he spends all day talking to. Back when he was in charge of things, the Federal Reserve Bank of New York forced AIG to pay off Wall Street tycoons for all those toxic bets, even though the mega-insurer was busy trying to negotiate a better deal.

Posted on Oct 28, 2009 READ MORE



infiniteunknown.com

When They Call, Geithner Answers

It’s unsurprising to say the least: A Freedom of Information Act request has discovered that Treasury Secretary Timothy Geithner is in daily two-way communication with a small group of Wall Street CEOs—at Citigroup, JPMorgan, Goldman Sachs—while lawmakers like Rep. Xavier Becerra are forced to leave messages for him.

Posted on Oct 8, 2009 READ MORE


Read My Lips: We Need to Raise Taxes

Does President Obama care about passing health care reform that truly gets costs under control and getting the nation’s fiscal house in order or does he care more about getting re-elected?

Posted on Aug 4, 2009 READ MORE


Geithner’s Housing Crisis

Apparently Treasury Secretary Tim Geithner wants more for his home than he paid for it—in this market. The “Daily Show’s” John Oliver asks, “How can the American people trust the policies of a man who can’t sell his house? ... Is it not like hiring a personal trainer who is morbidly obese?”

Posted on Jul 30, 2009 READ MORE



AP photo / Charles Dharapak

Obama’s Economic Misfits Finally Get It

On Monday, two men with considerable responsibility for enabling the banking meltdown confronted the error of their ways. Hopefully Timothy Geithner and Lawrence Summers’ sudden conversion to common sense indicates the seriousness of the banking regulation plan that their boss, President Obama, will present to Congress today.

Posted on Jun 17, 2009 READ MORE


Sheila Bair
AP photo / J. David Ake

A Republican to Save Us

You probably don’t know much about Sheila Bair, but she is looking out for you, and that is why the big guys on Wall Street and their allies in the Obama administration are out to get her.

Posted on Jun 10, 2009 READ MORE



Flickr / The TruthAbout...

Some Banks to Repay Bailout Funds

Some of the country’s major banks are prepared to pay back money they borrowed under the TARP program, but don’t get too excited. The initial repayment is expected to be a meager $50 billion, which Timothy Geithner wants to inject right back into other troubled banks.

Posted on Jun 9, 2009 READ MORE



NASA / U.S. Treasury

Treasury Covers for Stingy Banks

President Obama has said he doesn’t want public money going into a “black hole,” but his administration’s bank bailout looks more and more like an abyss of cosmic proportions. Not only are the bailed-out banks lending less than before, the Treasury Department appears to be engaging in creative math to obscure the gravity of the situation.

Posted on Apr 20, 2009 READ MORE


Veteran Regulator Calls Geithner a Failure

William K. Black made a name for himself busting bad bankers and the lawmakers who loved them during the savings and loan scandal. His book, “The Best Way to Rob a Bank Is to Own One,” says it all. Here he tells Bill Moyers that the treasury secretary is a failed regulator engaged in the cover-up of a massive fraud.

Posted on Apr 6, 2009 READ MORE


Colbert

‘Colbert Report’: The Dow of Stephen

What’s with all these fancy economic algorithms that supposedly explain what goes down (or up) on Wall Street but are unintelligible to the average American? Why not make a new model that everyone can understand—and that’s always on the up-and-up?

Posted on Apr 2, 2009 READ MORE


Dodd
hoinews.com

Dodd Takes a Hit for AIG Bonus Blunder

When word got out that Sen. Chris Dodd was responsible for loosening the restrictions on executive bonuses while drafting the stimulus bill, his constituents were apparently listening, as the Democrat’s approval rating in his home state of Connecticut has hit an all-time low. Now he could be in danger of losing his Senate seat in 2010.

Posted on Apr 2, 2009 READ MORE


The Nobelists vs. Obama and Geithner

The president’s plan to bail out the banks reveals a deference to the existing financial system that puts him at odds with Nobel Prize-winning economists Paul Krugman and Joseph Stiglitz.

Posted on Apr 2, 2009 READ MORE


toxic schmoxic
AP photo / Mary Altaffer

In for a Penny, In for $2.98 Trillion

The good news on the government’s “No Banker Left Behind” program is that, according to the special inspector general’s report on Tuesday, the total handout to date is still less than 3 trillion dollars. It’s only $2.98 trillion, to be precise, an amount six times greater than will be spent by federal, state and local governments this year on educating the 50 million American children in elementary and secondary schools. 

Posted on Mar 31, 2009 READ MORE


Left, Right & Center

‘Left, Right & Center’: Geithner’s Grand Plan; Obama’s Afghan Quagmire

The clock is ticking for Treasury Secretary Timothy Geithner to come up with a plan to deal with the banks that actually works. Meanwhile, some of the United States’ current struggles seem beside the point to European countries that already have a strong social safety net. And finally on this week’s list of “Left, Right & Center” hot topics is President Obama and Afghanistan: Is this a disaster waiting to happen?

Posted on Mar 28, 2009 READ MORE


The Right’s Twisted Blame Game

Listening to the president’s critics, it would be easy to believe that Obama is responsible for the deficits, bailouts, bonuses, nationalized institutions and careening markets. It would be easy to believe but it’s entirely false.

Posted on Mar 26, 2009 READ MORE


A Repairman, Not a Revolutionary

Timothy Geithner has not been a good performer, but he does have a vision. He sees an improved Wall Street, though one not fundamentally different from what we have now.

Posted on Mar 23, 2009 READ MORE


Obama Takes Cheney to School

President Obama personally conducted a tour of the White House for “60 Minutes” and in the Sunday broadcast defended his embattled treasury secretary, said sending more troops to Afghanistan was his toughest decision yet, and refused to grant a look at his wife’s vegetable garden. The president also took the opportunity to unload on Dick Cheney, who recently suggested we are less safe without torture.

Posted on Mar 22, 2009 READ MORE


Obama’s Fight Against the Politics of Evasion

Critics who argue that he is asking Congress to do too much are finding it far easier to talk about an overloaded system than to tell those without health insurance that they will have to wait a few more years.

Posted on Mar 22, 2009 READ MORE



Flickr / epicharmus

Putting the ‘Toxic’ Back in Tarp

The Toxic Asset Relief Program was originally designed to save the banks from their bad bets by purchasing toxic assets, but has since evolved into something of a multipurpose slush fund. Now the Obama administration is getting back to the business of buying junk, elaborating on a plan that sent the Dow tumbling when it was first announced. Update

Posted on Mar 22, 2009 READ MORE


The Geithner Problem

The treasury secretary may indeed be the hardest-working man in Washington. But in order to survive, let alone succeed, he’s going to have to make a more convincing case that he’s part of the solution and not part of the problem.

Posted on Mar 19, 2009 READ MORE


Boehner
AP photo / Evan Vucci

House Passes Bonus Tax Bill

After the top brass at AIG couldn’t be stopped from dishing out $165 million in bonuses to executives who didn’t exactly deserve gold-star treatment, Congress is attempting to recoup most of the money by slapping a 90 percent tax on such executive windfalls.

Posted on Mar 19, 2009 READ MORE


Push Back Against AIG’s ‘Best and Brightest’

Having long flattered themselves as “masters of the universe,” the creative financiers of Wall Street and London are today exposed as grifters rather than geniuses, yet their arrogance remains intact.

Posted on Mar 19, 2009 READ MORE



White House / Pete Souza

Obama Stands by His Treasurer

Treasury Secretary Timothy Geithner has developed a bad reputation in his short time on the job. He appears to have the fortitude of porridge and a love of banks and the bankers who bankrupt them. Despite calls for Geithner’s ouster over the AIG bonus blunder, the president says he has “complete confidence” in his top economist.

Posted on Mar 18, 2009 READ MORE



Geithner image from Presidencia de la Nación Argentina

Geithner’s Bonus Plan as Perplexing as His Other Proposals

Treasury Secretary Timothy Geithner has sent Congress an explanation of his plan to deal with the AIG bonus fiasco. Essentially, Treasury will dock the $165 million in bonuses from AIG’s next bailout payment. Here’s a question: If AIG can do without that $165 million, why were we giving it to the company in the first place?

Posted on Mar 17, 2009 READ MORE


New Stimulus Plan

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Posted on Mar 16, 2009 READ MORE


Obama
AP photo / Ron Edmonds

Obama Aiming to Block AIG Bonuses

AIG’s dishing out $165 million in bonuses to executives who played a part in bringing their company to near ruin is an “outrage,” according to President Barack Obama, who pledged to do whatever he can to stop the payouts at the bailed-out insurance giant. Updated

Posted on Mar 16, 2009 READ MORE


AIG logo
listphile.com

AIG to Dish Out $165 Million in Post-Bailout Bonuses

The tug of war continues between corporate financial giants and the federal government, and certain members of the former seem to have some trouble adjusting to their post-bailout status. AIG, for example, is still planning to reward its top 400 executives with a whopping $165 million in bonuses this weekend, even after the company was given more than $170 billion from taxpayers to stay afloat. Updated

Posted on Mar 14, 2009 READ MORE


Left, Right & Center

‘Left, Right & Center’: Madoff Hauled Off, Cramer Dressed Down

Once again, the economy is front and center on “Left, Right & Center”—and with good reason.

Posted on Mar 13, 2009 READ MORE



White House / Chuck Kennedy

Obama on the Defensive as Stock Rebound Continues

The Dow is up another 240 points, gaining 9.5 percent over the last three days, but the president doesn’t want you getting too excited about it—or too distraught when things inevitably swing the other way.

Posted on Mar 12, 2009 READ MORE


Eight Is Enough

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Posted on Mar 10, 2009 READ MORE


If Only Obama Were as Radical as They Say

While conservatives cry socialism, the president is trying to steer a moderate course. Moderation, however, may be the wrong recipe. There is something deeply disturbing about the drip, drip, drip of billions into the banking system with no apparent impact.

Posted on Mar 8, 2009 READ MORE


Turn a Harsh Light Onto the Banks

It’s reaching the point where desperate measures—brutal honesty and complete transparency—may be the only way to bring the economy out of its kamikaze dive. If so, this won’t be pretty.

Posted on Feb 23, 2009 READ MORE


Carmaker, Banker, Broker ...

Obama must deal with a new presidential role that he did not seek but cannot avoid: managing big chunks of the private-sector economy.

Posted on Feb 16, 2009 READ MORE


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