Alexander Reed Kelly / TruthdigJun 26, 2013
Tape recordings from inside the once-"doomed" Anglo Irish Bank reveal for the first time how the institution's top executives lied to the government about the extent of their losses at the height of the financial crisis in 2008 in a scandal that drove the nation into austerity, Paul Williams reports at The Irish Independent. Dig deeper ( 2 Min. Read )
By Steve Fraser, TomDispatchApr 4, 2013
We think of the financial crisis as a man-made calamity, and Hurricane Sandy as the malignant innocence of nature. But neither the notion of a man-made nor natural disaster quite captures how the power of a few and the vulnerability of the many determine what is really going on at ground level. Dig deeper ( 15 Min. Read )
Alexander Reed Kelly / TruthdigDec 16, 2012
“We all misjudged the risks involved,” former Federal Reserve Chairman Alan Greenspan said in March 2010 of the housing bubble that led to the financial crisis. He forgot about economist Dean Baker. Dig deeper ( 4 Min. Read )
Alexander Reed Kelly / TruthdigOct 17, 2012
Just in time for the election, the Commerce Department reported that construction starts on houses and apartments in September increased at the fastest rate since the beginning of the recession. Dig deeper ( 1 Min. Read )
Alexander Reed Kelly / TruthdigOct 16, 2012
In a development that may please Truthdigger of the Week Sheila Bair, Vikram Pandit, the man who was in charge of megabank Citigroup during the financial crisis, left his job abruptly and with little explanation on Tuesday. Dig deeper ( 1 Min. Read )
Alexander Reed Kelly / TruthdigOct 14, 2012
Few voices in the regulatory community called for the expulsion of derelict executives and the means to force banks to lend bailout money to the public amid the 2008 financial crisis. Former FDIC Chairman Sheila Bair was among them.Few voices in the regulatory community called for the expulsion of derelict executives and the means to force banks to lend bailout money to the public. Dig deeper ( 3 Min. Read )
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