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By Vasily Grossman; Robert Chandler (Introduction by)
By Marc Schabracq
$37.95
$21
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White House/Pete Souza
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By Robert Scheer — I suppose that he can’t be much worse than Timothy Geithner, but that should be scant cause for cheer over the news that the president has nominated Jack Lew as Treasury secretary.
Posted on Jan 11, 2013
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A look at the day’s political happenings, including a new warning on the debt ceiling from Timothy Geithner and why it’s probably not the most wonderful time of the year for President Obama and Congress.
Posted on Dec 26, 2012
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AP/Mark Lennihan
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By Robert Scheer — Reports in the business press tout a prime participant in the great banking hustle as a possible candidate to be the next Treasury secretary.
Posted on Dec 7, 2012
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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
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White House / Pete Souza
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By Robert Reich — 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
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AP/Matt Rourke
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By Robert Scheer — Election night was a heck of a party, but morning in America already feels too much like a hangover.
Posted on Nov 9, 2012
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AP/Scott Applewhite
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In late 2008, Neil Barofsky was appointed the Treasury Department’s investigator of the bank bailouts. In the time since, he has suffered dismissal and deprecation from his colleagues and the corporations they’re supposed to regulate.
Posted on Aug 4, 2012
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AP/Barry Thumma
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By Robert Scheer — American families have lost 20 years of growth while at least 18 bankers and tycoons sat on Fed boards that coincidentally bailed out their institutions.
Posted on Jun 14, 2012
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AP/Shannon Stapleton
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By Robert Scheer — We do not care a whit now—nor have we ever cared—about their human rights or any other aspect of their lives as long as they satiate our unbridled appetites.
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AP / Mark Lennihan
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By Robert Scheer — By the time you read this, the PR hacks of Goldman Sachs will be vigorously pressing their efforts to destroy the reputation of whistle-blower Greg Smith.
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AP / Saul Loeb
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So the official story here is that President Obama says he wants to cut the country’s corporate tax rate by seven percentage points, dropping it from 35 percent to 28 percent, which gives him a nice tax-related headline on a day when similar stories are cropping up about the competition.
Posted on Feb 22, 2012
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AP / Charles Dharapak
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If you saw the broadcast of Tuesday’s State of the Union address, you might have caught Treasury Secretary Timothy Geithner looking a little uneasy on his perch next to a solemn Secretary of State Hillary Clinton, which could have something to do with the state of his position at the White House.
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AP / J. Scott Applewhite
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By Robert Scheer — Why are Ben Bernanke and Barack Obama just now discovering that there is a jobs crisis in this country?
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AP / Pablo Martinez Monsivais
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By Robert Scheer — Obama’s gutless decision to abandon Elizabeth Warren comes after the president populated his administration with the very people who created the financial meltdown.
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AP / Carolyn Kaster
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By Fred Branfman — Nothing reveals the true state of American politics today more than the fact that Democratic President Barack Obama has left the Democratic Party far weaker than it would have been had McCain been elected.
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Flickr / World Economic Forum (CC-BY-SA)
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Treasury Secretary Timothy Geithner denied in an interview with former President Bill Clinton recent reports that he was considering stepping down from his post after Congress hammers out an agreement on the federal debt limit later this summer. (more)
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By John B. Taylor —
In “Reckless Endangerment,” Gretchen Morgenson and Joshua Rosner argue that cozy connections between government and the financial industry were the primary cause of the financial crisis.
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AP / Charles Dharapak
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By Robert Scheer — What was Timothy Geithner thinking back in 2008 when, as president of the New York Fed, he decided to give Goldman Sachs a $30 billion interest-free loan as part of an $80 billion secret float to favored banks? The sordid details of that program were finally made public this week in response to a court order for a Freedom of Information Act release, thanks to a Bloomberg News lawsuit.
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imdb.com
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By Robert Scheer — It is not true, as a Wall Street Journal reviewer claimed, that the HBO movie version of Andrew Sorkin’s book “Too Big to Fail” was “Too Boring to Watch.” On the contrary, the problem with the film, as with the richly anecdotal book, is that it is all too effectively misleading.
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AP / Charles Dharapak
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By Robert Scheer — In the ever-so-smug company of the rich and powerful, it is a given that there is never to be any expression of remorse or other acknowledgement of the pain they have inflicted on the lesser mortals they so cavalierly plunder.
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nosha (CC-BY-SA)
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Critics of the financial chop shop, of which there are many, would like to see Goldman Sachs return billions in taxpayer dollars paid out to cover a $20 million bet. The huge payout was passed through AIG, orchestrated by then-Chairman Timothy Geithner’s New York Fed, and publicized by the Financial Crisis Inquiry Commission.
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Center for American Progress (CC-BY-ND)
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Chairman Phil Angelides and the five other Democrats on the 10-person Financial Crisis Inquiry Commission have released their devastating report, which assigns blame for the economic meltdown. They pointed at Treasury Secretary Timothy Geithner (above), among others.
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White House / Chuck Kennedy
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By Robert Scheer — What is the state of the union? You certainly couldn’t tell from that platitudinous hogwash that the president dished out.
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White House / Pete Souza
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By Nomi Prins — There are two potential ways to measure the economic performance of a political leader. One is by the profitability, stock prices and executive bonuses of a nation’s corporations. The other is by the financial condition of the majority of its population.
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AP / Pablo Martinez Monsivais
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By Robert Scheer — Two years into the Obama presidency and the economic data is still looking grim. Don’t be fooled by the gyrations of the stock market, where optimism is mostly a reflection of the ability of financial corporations—thanks to massive government largesse—to survive the mess they created.
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AP / Frank Franklin II
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By Nomi Prins — In the wake of the election, the Fed pulled off a move detected only by downtown Manhattan. It quietly announced a purchase of $600 billion in Treasury securities (read: our debt) while pundits on the left and right were dissecting the role of the tea party in political life as we know it.
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So, clearly President Obama felt obliged to get all gushy about outgoing adviser Larry Summers’ contributions to his administration’s efforts to save our nation’s economy from total catastrophe. Now hear the real deal on Summers, courtesy of Robert Scheer and Amy Goodman on “Democracy Now!”
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cop.senate.gov
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Opinions are divided over the news that Elizabeth Warren, progressives’ pick to head the new consumer protection agency, will be appointed to get said agency off the ground but (in all likelihood) not be its first director.
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AP / Charles Dharapak
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By Robert Scheer — When will the president give Lawrence Summers his pink slip? He can thank him for his years of service and use the excuse that his top economic adviser wants to spend more time with his family. I don’t care how he sugarcoats it.
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democracynow.org
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We’ve heard about the robber barons on Wall Street who brought on our current economic crisis, but they couldn’t have done it without the help of key political players like Bill Clinton, for one, as Robert Scheer tells Amy Goodman in this “Democracy Now!” interview about his new book.
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White House / Pete Souza
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By Robert Scheer — Barack Obama and the Democrats he led to a stunning victory two years ago are going down hard in the face of an economic crisis that he did nothing to create but which he has failed to solve.
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AP / Mary Altaffer
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By Robert Scheer — Out of respect for privacy, even concerning famous people, I wasn’t going to write about the marriage of Chelsea Clinton to a Goldman Sachs alum and budding hedge-fund hustler with the resources to buy a $4 million loft so soon after graduating from Stanford.
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AP / Pablo Martinez Monsivais
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By Robert Scheer — It’s not working. Time for the president to concede that the economy is at best stagnating and at worst about to take another steep nose dive.
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AP / Jose Luis Magana
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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.
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AP / Alex Brandon
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By Robert Scheer — 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.
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AP / Wong Maye-E
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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.
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AP / Richard Drew
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By Chris Hedges — 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.
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The gang’s all here for this week’s episode of “Left, Right & Center,” and it’s a good thing, considering the, er, sheer amount of material to cover. Treasury Secretary Timothy Geithner’s not exactly winning the hearts of millions these days, but should he step down? Plus: bad news on the employment front (sigh); the Democratic outlook for 2010; and what big banks are (and aren’t) doing for customers—and what Americans can do about it.
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White House / Pete Souza
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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.
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Rolling Stone’s Matt Taibbi walks through Barack Obama’s banking sellout, beginning with the president’s transition team. According to Taibbi, Obama’s transformation from populist to Wall Street’s best friend started on day one.
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Wikimedia Commons / Presidencia de la Nación Argentina
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The Troubled Asset Relief Program, otherwise known as TARP, was scheduled to expire at the end of this year, but Treasury Secretary Timothy Geithner told Congress on Wednesday that it’ll stick around until October 2010, partly as a precautionary measure in case of economic emergency and partly to help struggling homeowners, banks and small businesses.
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By William Pfaff — It seems plausible that payback time has arrived for the international financial community. The principal obstacle here is, at the moment, the Obama administration.
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AP / Jose Luis Magana
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By Robert Scheer — Jail, anyone? Perhaps that’s too harsh, and at any rate premature, but is anyone ever going to be held accountable for the behind-the-scenes sweetheart deals that passed tens of billions of taxpayer dollars through the AIG shell game to the very banks that caused the financial meltdown?
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At long last, it seems that members of Congress, of left- and right-leaning persuasions alike, are harboring serious doubts about a couple of key players on President Barack Obama’s economic task force. The right-leaning Tony Blankley thinks that this signals the cyclical, and helpful, breakdown of hyper-partisanship on Capitol Hill. Meanwhile, Robert Scheer thinks Sarah Palin is still scary.
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AP / Alex Brandon
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By Robert Scheer — What’s up with Barack Obama? Finally someone has a good idea about how to deal with Wall Street and the White House condemns it.
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Barack Obama’s top campaign strategist, David Plouffe, paid a visit to “The Daily Show” on Tuesday night, the anniversary of his candidate’s big win, to look back on Obama’s strategy for getting to the White House and how the president has done over the course of his first year. Jon Stewart doesn’t let Plouffe off easy, especially when it comes to Obama’s choice of economic advisers.
Posted on Nov 4, 2009
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AP / Gerald Herbert
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By Robert Scheer — Who are these people? I am not referring to the pathetic parents of “Balloon Boy,” whose fake drama I have been unable to escape while on the treadmill this week, thanks to my gym’s insistence on tuning its flat-screen TVs to Wolf Blitzer’s nonstop self-parody.
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AP / Gerald Herbert
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By Robert Scheer — There is an odd disconnect between the furious public debate over health care reform, with its emphasis on the cost of an increased government role, and the nonexistent discussion about the far more expensive and largely secretive government program to bail out Wall Street.
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serenitythruhaiku.wordpress.com
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Under the guidance of Rep. Barney Frank, the House Financial Services Committee made changes to a plan designed to increase government oversight of various financial markets, ideally to avoid a recurrence of last year’s economic catastrophe. It’ll mean more focus on certain types of businesses than others.
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AP / Alex Brandon
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On Monday, after two of President Obama’s economic sidekicks, Treasury Secretary Timothy Geithner and National Economic Council Director Lawrence Summers, made noises over the weekend about the possibility that middle-class Americans may pay higher taxes in the near future, the White House went into damage control mode.
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Marching in Chicago: Resisting Rahm Emanuel’s Neoliberal Savagery
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