Geithner’s Fed Made AIG Pay Banks to the Max

Staff / Truthdig Oct 28, 2009 That Timothy Geithner must love the big banks he spends all day talking to. Back when he was in charge of things, the Federal Reserve Bank of New York forced AIG to pay off Wall Street tycoons for all those toxic bets, even though the mega-insurer was busy trying to negotiate a better deal. Dig deeper ( 1 Min. Read )

Zooming In on the Year’s Biggest Hoax

Robert Scheer / Truthdig Oct 21, 2009 Who are these people? I am not referring to the pathetic parents of “Balloon Boy,” whose fake drama I have been unable to escape while on the treadmill this week, thanks to my gym’s insistence on tuning its flat-screen TVs to Wolf Blitzer’s nonstop self-parody. Now if we could get one of the banking lobbyists to float a duct-taped flying saucer balloon, Wolf Blitzer might cover the real hoax. Dig deeper ( 4 Min. Read )

Dick Gephardt, Corporate Lobbyist

Staff / Truthdig Oct 20, 2009 If it seems contradictory (read: hypocritical) that former Rep. Dick Gephardt, at one time a self-styled anti-lobbying, pro-labor crusader, would become a lobbyist for Visa and Goldman Sachs, well, that's because it is. Oh, and you can strike "pro-environment" off of Gephardt's list of political poses, too. Dig deeper ( 2 Min. Read )

When They Call, Geithner Answers

Staff / Truthdig Oct 8, 2009 It's unsurprising to say the least: A Freedom of Information Act request has discovered that Treasury Secretary Timothy Geithner is in daily two-way communication with a small group of Wall Street CEOs -- at Citigroup, JPMorgan, Goldman Sachs -- while lawmakers like Rep. Xavier Becerra are forced to leave messages for him. Dig deeper ( 1 Min. Read )

Too Big to Jail

Mike Luckovich / Truthdig Sep 26, 2009 Dig deeper

Obama’s Presidency Isn’t Too Big to Fail

Robert Scheer / Truthdig Sep 16, 2009 A president has only so much capital to expend, both in tax dollars and public tolerance, and Barack Obama is dangerously overdrawn. He has tried to have it all on three fronts, and his administration is in serious danger of going bankrupt. A president has only so much capital to expend, and Barack Obama is dangerously overdrawn. Dig deeper ( 4 Min. Read )

Lehman Execs: Where Are They Now?

Staff / Truthdig Sep 8, 2009 It's been nearly a year since Lehman Brothers went belly-up, effectively kicking off the financial implosion of fall 2008. However, despite the firm's catastrophic demise, some Lehman execs managed to land on their feet. Tuesday's Wall Street Journal gives an update about their current activities. Dig deeper ( 1 Min. Read )

Banking Bandits Get Their Reward

Robert Scheer / Truthdig Aug 5, 2009 By now everybody must know that the top banking executives responsible for our economic meltdown have no shame. Otherwise they would not have dared give themselves such hefty bonuses as a deeply perverse reward for actions that caused millions of Americans to lose their jobs and homes. By now everybody must know that the top banking executives responsible for our economic meltdown have no shame. Dig deeper ( 3 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 )

‘Government Sachs’ Strikes Gold … Again

Robert Scheer / Truthdig Jul 15, 2009 Connect the dots: Goldman Sachs made $3.44 billion in profit this past quarter, while the U.S deficit topped $1 trillion for the first time in the nation’s history and appeared to be headed toward doubling that figure before the budget year is out. Since most of the increase in the federal deficit is due to bailing out the banks and salvaging the greater economy they helped destroy, why is the top investment bank doing so well? 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 )

Goldman Sachs Execs Dumped Stock Like Crazy

Staff / Truthdig Jul 14, 2009 Goldman Sachs is expected to announce a windfall quarter, thanks no doubt to billions in bailout money, but many people at the firm aren't puffing their chests out. According to the Financial Times, Goldman executives dumped close to $700 million in stock between September 2008 and April 2009 -- after taxpayers came to the rescue. Dig deeper ( 1 Min. Read )