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Obama's New Chief of Staff Hails From Wall Street

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Jack Lew is a liberal who worked for Speaker Tip O'Neill and studied under beloved progressive Sen Paul Wellstone, but he was also the chief operating officer of a Citigroup unit and doesn't fault deregulation for the shoddy economy (more)Jack Lew is a liberal who worked for Speaker Tip O'Neill and studied under beloved progressive Sen.

What Oil Spill? Transocean Hands Out Bonuses for Best Safety Year Ever

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Even Wall Street executives have to be smacking their heads over this one The company that ran the Deepwater Horizon oil rig (before it exploded, killing 11 and filling the Gulf of Mexico with oil) has decided to give its executives bonuses for achieving "the best year in safety performance in our company's history" There are no words .

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Sticks and stones and all that: U.S. bankers are probably glad today that, as the childhood rhyme claims, "words can never hurt me," since the Obama administration’s so-called pay czar has decided to criticize them for paying out $1.6 billion in extra payments to top execs after they received federal bailout funds -- but not seek any punishment.

Obama Wants a Wall Street Recovery Tax

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President Barack Obama wants to slap a new tax on the country's largest financial institutions in an ostensible attempt to "recover every single dime" given away in 2008's Wall Street bailout. The tax was met with predictable fat-cat jeers, despite the fact that the industry has largely recovered from the crisis.

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Anyone infuriated by the grossly inflated compensation of the masters of finance should check out the incredible earnings of the top executives in the health insurance business.Anyone infuriated by the bonuses of the masters of finance should check out the top executives in the health insurance business.

Wall Street Bonuses 'Offensive'

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The Obama administration, perhaps getting wise to public opinion, is lashing out at Wall Street firms. White House senior adviser David Axelrod called the huge bonuses executives received this year "offensive" in light of the fact that the rest of us are struggling through an economic crisis.

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