Wall Street’s Not-So-Little Secret

Staff / Truthdig Aug 28, 2011 In 2008, the 10 biggest US banks and brokerage firms took $829 billion in emergency loans from the U Treasury and the Federal Reserve Until now, who got what had been a secret (more). Dig deeper ( 2 Min. Read )

A Downgrade’s GOP Fingerprints

Eugene Robinson / Truthdig Aug 9, 2011 There is one good reason to downgrade the United States' credit rating, but S&P, whose credibility was already spent after the housing meltdown, gave a host of largely bogus explanations for its actions. Dig deeper ( 3 Min. Read )

Investors Seek Treasury Port in a Storm

Staff / Truthdig Aug 8, 2011 US stocks sank almost 6 percent Monday, as investors disposed of risky assets and bought low-yielding but more secure Treasury bills and bonds, despite Standard & Poor's recent downgrade of the U government credit rating (more). Dig deeper ( 2 Min. Read )

Big Finance Argues Its Irrelevance

Staff / Truthdig Jun 12, 2011 Don't mistake the claims of relative unimportance coming from the big shots on Wall Street before an audience of federal regulators over the past several months for some sort of newfound humility. (more) Dig deeper ( 1 Min. Read )

Swiss Cheese Sanctions

Staff / Truthdig Dec 25, 2010 Like a piece of Swiss cheese, U.S. sanction policy is riddled with holes, according to reports. A former Treasury official claims licenses to trade with blacklisted countries such as Iran have been doled out to the tune of billions of dollars in profits, all at the behest of lobbying groups. Dig deeper ( 1 Min. Read )

Fail and Grow Rich on Wall Street

Robert Scheer / Truthdig Nov 24, 2010 Welcome to the brave new world of post-bailout capitalism. The Commerce Department announced Tuesday that corporate profits are at their highest level in U.S. history, and the Fed released minutes of an early November meeting in which officials predicted a stagnant economy and continued high unemployment. Welcome to the brave new world of post-bailout capitalism. Dig deeper ( 4 Min. Read )

Federal Reserve Finds $600 Billion in the Couch

Staff / Truthdig Nov 4, 2010 Trying to follow the amount of money the Federal Reserve has pumped into the economy (and the banks) can be truly mind-boggling, and it's not getting easier. (continued) Dig deeper ( 1 Min. Read )

The Incredible Shrinking Deficit

Staff / Truthdig Oct 27, 2010 Republicans pulled off a pretty neat trick, running up huge deficits and then making it their party's big issue. Not to be outdone, the Democrats have managed to make $1.3 trillion look small. (continued) Dig deeper ( 1 Min. Read )

AIG’s IOU Coming Due With Strings Attached

Staff / Truthdig Oct 1, 2010 AIG plans to start paying back the taxpayers some of the $182 billion it borrowed, but the plan involves trading the government's preferred shares in the company for common stock, a move that ought to raise at least one eyebrow. Dig deeper ( 1 Min. Read )

Fed Shifts to Bond-Buying Mode to Boost Economy

Staff / Truthdig Aug 11, 2010 The Federal Reserve is taking action to try to give the flagging U.S. economy a much-needed jolt by committing to buy up some of the government's debt in the form of long-term Treasury securities. Dig deeper ( 1 Min. Read )

Campaign Violations Catch Up to Biden

Staff / Truthdig Jul 18, 2010 Joe Biden's verbal gaffes are numerous, and so are his campaign violations. The 2008 Biden for President campaign committee owes the Treasury Department more than $219,000 for accepting excessive contributions and other infractions in his bid for the Democratic nomination. Dig deeper ( 1 Min. Read )

Don’t Count on Us

Staff / Truthdig Jun 5, 2010 In the face of the stereotypical image of Americans as free-spending consumers, Treasury Secretary Timothy Geithner has told his international finance colleagues that G20 countries should not rely on American buyers for their products as they travel the road to economy recovery. Dig deeper ( 1 Min. Read )