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 )

The Chinese Come Calling

Robert Scheer / Truthdig Jul 29, 2009 What a hoot. The Chinese Communists invaded Washington on Monday demanding not that we sacrifice our freedoms but rather that we balance our budget. Creditors get to make that kind of call. And the Marxists of Beijing, who have turned out to be the world’s most prudent bankers, are worried about their assets invested in our banana republic. The Marxists bankers of Beijing are worried about their assets invested in our banana republic. Dig deeper ( 3 Min. Read )

Dennis vs. Goliath

Staff / Truthdig Jul 18, 2009 Rep Dennis Kucinich talks about winning a big victory for health care reform, grilling Hank Paulson over the Bank of America-Merrill Lynch merger, and the battle against crony capitalism Dennis Kucinich talks about winning a big victory for health care reform. Dig deeper ( 1 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 )

Cashing In on ‘Government Sachs’

Robert Scheer / Truthdig May 6, 2009 We are so inured to tales of business corruption that even a devastating exposé in The Wall Street Journal no longer shocks us. The fact that the chairman of the New York Federal Reserve Bank made millions off his secret purchase of Goldman Sachs stock has barely registered a blip of outrage. Dig deeper ( 3 Min. Read )

Thievery Under the TARP

Robert Scheer / Truthdig Apr 22, 2009 We are being robbed big-time, but you can’t say we haven’t been warned. Not after the release Tuesday of a scathing report by the Treasury Department’s special inspector general, who charged that the aptly named Troubled Asset Relief Program is rife with mismanagement and potential for fraud. Dig deeper ( 3 Min. Read )

Courage Award Honors Two Women Who Warned Us

Staff / Truthdig Mar 29, 2009 There has been much hand-wringing, not to mention finger-pointing, regarding who knew what, and when, about the financial calamities that have recently come to pass. However, Brooksley Born and Sheila Bair won't be counted among the willfully or accidentally ignorant: They've been named this year's winners of the JFK Profile in Courage Award for sounding the alarm far ahead of time. Dig deeper ( 2 Min. Read )

Soros Laughing All the Way to the Bank

Staff / Truthdig Mar 26, 2009 Not many big hitters from the financial sector have managed to stay afloat, let alone turn a profit, since the economic crisis kicked in, but George Soros has done quite well for himself. Soros made $1.1 billion last year, and he's not even at the top of the list of hedge fund managers who beat the odds in 2008. Dig deeper ( 1 Min. Read )

Where’s the Top Gun?

Marie Cocco / Truthdig Feb 12, 2009 Well, that didn't work out. In pushing for a new financial industry bailout, Treasury Secretary Geithner came across like a banker trying to do a politician's job. Obama owes us some hands-on involvement. Dig deeper ( 3 Min. Read )

Runaway Wall Street

Robert Scheer / Truthdig Feb 4, 2009 It is instructional that only one of the three tax-challenged Obama appointees has survived public scorn to claim a high position in the new administration. Oddly enough, it is Treasury Secretary Timothy Geithner, the man who will collect our taxes, whose career has not been stunted by his failure to pay them. Dig deeper ( 3 Min. Read )

Time Magazine Reveals Completely Unsurprising Award Choice

Staff / Truthdig Dec 18, 2008 Here's a news bite that could have written itself a few weeks, if not months, ago: Barack Obama is Time's 2008 Person of the Year. Even the magazine's editorial staff members knew that the choice would hardly shock anyone, but they allowed themselves to be swept along by the tides of history -- or perhaps inevitability. Dig deeper ( 1 Min. Read )