SEC Fines B of A $33M for Bonus Bust

Staff / Truthdig Aug 4, 2009 It's baffling how $33 million can seem like a relatively small sum lately, but given that it's all that Bank of America will have to pay the SEC for failing to inform investors about the billions in bonuses the bank paid Merrill Lynch executives during B of A's acquisition of Merrill last year, it seems more like a light knuckle-rap than a full-on spanking. Dig deeper ( 1 Min. Read )

‘Left, Right & Center’: Bonuses, Blue Dogs and Beer

Staff / Truthdig Aug 1, 2009 This week's show covers flagrant shenanigans in the financial world -- could it be that Tony Blankley makes a move toward the left? Meanwhile, lefty Robert Scheer is the surprising deficit hawk in the mix, and Arianna Huffington and Matt Miller clash over whether the absence of a strong public provision in Congress' emerging health plan represents a betrayal of the American people. Also: beer! Dig deeper ( 1 Min. Read )

A Rebound Without Recovery

Marie Cocco / Truthdig Jul 28, 2009 The arithmetic of this recession still looks pretty dismal and the politics and psychology of it are starting to become disconnected from reality in a scary way.The politics and psychology of this recession are starting to become disconnected from reality in a scary way. Dig deeper ( 3 Min. Read )

Big Money for Goldman Sachs

Staff / Truthdig Jul 15, 2009 Fresh off the bailout, Goldman Sachs raked in $3.44 billion in net profit this quarter, beating analysts' already high expectations, and the firm's success will pay off for employees in the form of generous bonuses. Not surprisingly, pro-Goldman types think this is all good news. Dig deeper ( 1 Min. Read )

AIG Gets Back to Bonuses

Staff / Truthdig Jul 10, 2009 The closest we've come to a pitchfork moment in this whole economic crisis was the last time AIG tried to shower its employees with bonuses. You may recall that the financial giant was rewarded with $180 billion in federal funds after losing more money than any company ever did before and helping to ruin the world economy. Well, they're at it again. Dig deeper ( 1 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 )

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 )

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 )

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 )

The Geithner Problem

Eugene Robinson / Truthdig Mar 20, 2009 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. Dig deeper ( 3 Min. Read )

And Now, This Tepid Message From Our Treasury Chief

Staff / Truthdig Mar 20, 2009 We've seen a lot of Timothy Geithner lately in the news -- usually looking concerned yet purposeful as he stands behind the president in photos and press conferences -- but we haven't heard a great deal straight from the source. On Thursday, CNN's Ali Velshi managed to get the treasury secretary talking, but what Geithner had to say is distinctly underwhelming. Dig deeper ( 2 Min. Read )