In for a Penny, In for $2.98 Trillion

Robert Scheer / Truthdig Apr 1, 2009 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. Dig deeper ( 3 Min. Read )

We’re Paying Congress for This?

Stanley Kutler / Truthdig Mar 28, 2009 Congress’ work has often offered us transparency and has usually led to useful, progressive legislation. And now comes Financial Services Committee Chairman Barney Frank’s choreographed extravaganza in the House of Representatives, supported by an echoing committee, with sound bites worthy of a night in the Borscht Belt. Dig deeper ( 5 Min. Read )

What You Dig

Staff / Truthdig Mar 27, 2009 Here are the five most-read stories of the last seven days, including Chris Hedges on America's moral meltdown and Robert Scheer on the economic incompetents who find easy employment in the Obama administration. Full list after the jump. Dig deeper ( 2 Min. Read )

Geithner Calls for More Authority After AIG Mess

Staff / Truthdig Mar 24, 2009 In testifying before Congress on Tuesday, Treasury Secretary Timothy Geithner asked for what he called "new resolution authority" to grant the federal government the ability to more successfully take on financial institutions like AIG (ie, non-banks) in the future. Dig deeper ( 2 Min. Read )

Kill AIG Bonuses With a Tax? It’s a Lousy Idea

Marie Cocco / Truthdig Mar 24, 2009 Obama needs to stop straddling and to threaten to veto any cockamamie tax scheme that emerges from Congress as retribution for the repulsive bonuses handed out at American International Group. Dig deeper ( 3 Min. Read )

A Repairman, Not a Revolutionary

Eugene Robinson / Truthdig Mar 24, 2009 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. Dig deeper ( 3 Min. Read )

America Is in Need of a Moral Bailout

Chris Hedges / Truthdig Mar 23, 2009 The methods used to attain what we want, we are told by reality television programs, business schools and self-help gurus, are irrelevant. Success, always defined in terms of money and power, is its own justification. Our moral collapse is as terrifying, and as dangerous, as our economic collapse. Dig deeper ( 7 Min. Read )

Obama Takes Cheney to School

Staff / Truthdig Mar 23, 2009 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. Dig deeper ( 1 Min. Read )

Wouldn’t Let Geithner Quit Even if He Tried, Obama Says

Staff / Truthdig Mar 22, 2009 Although Timothy Geithner is under fire from several directions, especially because he failed to stop the AIG executive bonus train from arriving at its destination, President Obama continues to actively support him. In fact, Obama says he wouldn't let Geithner quit even if the treasury secretary tried to do so at this point. Dig deeper ( 1 Min. Read )

AIG Claims It Overpaid Taxes, Sues Government

Staff / Truthdig Mar 21, 2009 Having succeeded in dispensing tens of millions of dollars to company executives last week as the country -- and Congress -- cried foul, the insurance titan is now suing the government to reclaim millions in taxes. Apparently AIG officials believe they paid the IRS too much and now are demanding a huge tax rebate. Dig deeper ( 1 Min. Read )

‘Left, Right & Center’: AIG Angst; Happy New Year, Iran!

Staff / Truthdig Mar 21, 2009 Have the American media become too fixated on AIG and its nefarious bonuses -- at the cost of focusing too little on the whereabouts of the other gajillions of dollars doled out in bailout funds? What's to become of Timothy Geithner? And how about those warm New Year's wishes that winged their way to the people of Iran from the U.S. and Israel? Dig deeper ( 1 Min. Read )

Obama Talks Banks, Bonuses and Basketball on Leno

Staff / Truthdig Mar 21, 2009 The merger of the entertainment and political spheres is now complete. Witness this lengthy chatfest between President Barack Obama and Jay Leno on Thursday's "Tonight Show." During the broadcast Obama cracks jokes about the Secret Service, the Special Olympics (oops) and "American Idol" between more serious discussions about the economy and alternative energy. Dig deeper ( 1 Min. Read )