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Tag: Toxic Assets


Eflon (CC-BY)

We Deserve the Truth From Citigroup, Judge Rules

A federal judge will not accept the SEC’s settlement with Citigroup for defrauding its customers of more than $700 million in just one of the firm’s lousy investment opportunities. (more)

Posted on Nov 28, 2011 READ MORE


banking hearing
AP / Susan Walsh

Letting the Banking Rats Out of the Bag

“Was there some sort of ghost that performed these actions?” New York federal Judge Jed S. Rakoff demanded to know Monday in rejecting a deal that would let Bank of America off the hook in yet another banker bonus scandal.

Posted on Aug 11, 2009 READ MORE


AIG sign
visitbulgaria.info

AIG Still Ridin’ Dirty

AIG CEO Edward Liddy defended his enfeebled company on Capitol Hill Wednesday, yet claimed that even $180 billion in taxpayer money has only “reduced, but not eliminated the systemic risk [toxic assets] that AIG presents to the global financial system.”

Posted on May 13, 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



Flickr / epicharmus

Taxpayers to Buy Bad Bank Assets

What a deal! Timothy Geithner’s new plan to save the banks from themselves commits American taxpayers to a massive purchase of the toxic assets that the banks had originally insisted were risk-free investments. Of course, Wall Street loved the news. Update

Posted on Mar 23, 2009 READ MORE


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