The big banks claim that they have paid back all of the bailout money they received, and that the taxpayers have actually made money on the bailouts.However, as Barry Ritholtz notes:Pro Publica has been maintaining a list of bailout recipients, updatin…
Posts Tagged ‘bailouts’
No, The Big Banks Have Not “Paid Back” Government Bailouts and Subsidies
December 5th, 2010 |
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Welcome to the Age of Permanent Bailouts for the Giant Banks
November 16th, 2010 |
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NY Fed president William Dudley said today, when asked when the Fed would stop quantitative easing:This exit could be several years away.Too bad that quantitative easing won’t help Main Street or the average American. It will only help big banks, gian…
IMF Calls for Huge New Round of Bank Bailouts
October 6th, 2010 |
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The IMF is calling for a huge new round of bank bailouts.As the Telegraph noted yesterday: Lenders across Europe and the US are facing a $4 trillion refinancing hurdle in the coming 24 months and many still need to recapitalise, the Washington-ba…
Mega-Banks Which Received Bailouts Slashed Lending More, Gave Higher Bonuses, and Reduced Costs Less Than Banks Which Didn’t Get Bailed Out
April 23rd, 2010 |
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USA Today points out:Banks that received federal assistance during the financial crisis reduced lending more aggressively and gave bigger pay raises to employees than institutions that didn’t get aid, a USA TODAY/American University review found.***•…
Raise Taxes and Cut Services? Why Not Stop Unnecessary Bailouts, Unnecessary Wars and Unnecessary Interest Costs Instead?
March 2nd, 2010 |
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House majority leader Steny Hoyer – a close ally to President Obama – says the U.S. needs to raise taxes and cut spending .As Agence France-Presse reports:The United States must embrace a blend of tax increases and spending cuts to rein in its deficit …
Larry Summers in 2000: “A Healthy Financial System Cannot be Built on the Expectation of Bailouts”
January 2nd, 2010 |
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Simon Johnson points out how hypocritical Summers and Geithner are:Some of the Treasury’s advice at the time was controversial — pressing South Korea to open its capital markets to foreign investors at the height of the crisis — but the broad app…
Giant Banks Are Trying to Make Bailouts Permanent. They’ll Succeed Unless We Raise a Ruckus
December 10th, 2009 |
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According to the following Democratic and Republican congress members, economists, financial experts and journalists, the “too big to fails” (with help from bank-friendly voices in Congress) are trying to make the bailouts permanent: Congressman Brad S…
IMF Warns of Revolution if Another Round of Bailouts Is Handed Out
November 23rd, 2009 |
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Many officials and experts have warned of violence stemming from the economic crash.The head of the International Monetary Fund, Dominique Strauss-Kahn, is now warning that there might be a revolution if some countries if governments hand out another r…
Government Is Trying to Make Bailouts for the Giant Banks PERMANENT
October 28th, 2009 |
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On September 25th, I wrote:Paul Volcker and senior Harvard economist Jeffrey Miron both testified to Congress this week that the government is trying to make bailouts for the giant banks permanent.Writing Wednesday in The Hill, Congressman Brad Sherma…
FDIC Head Sheila Bair Tells Protesters: “It’s Time to Put an End to the ‘Too Big to Fail’ Doctrine… No More Bailouts!”
October 27th, 2009 |
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On her way inside the Banking Convention, where she was about to deliver a speech, FDIC Chair Sheila Bair told protesters:It’s time to put an end to the ‘Too Big to Fail’ doctrine… No more bailouts, no more bailouts!This is without doubt the most imp…
Government Leaders Said Bailouts Were Needed Because “The House Next Door Was Burning Down” . . . Were They Right?
October 12th, 2009 |
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Government leaders said that massive bailouts were necessary. Were they right?Bullying CongressThe New York Times wrote on July 16th:In retrospect, Congress felt bullied by Mr. Paulson last year. Many of them fervently believed they should not prop up…
Congressmen Grayson and Paul Ask Senate Banking to Delay Confirmation of Bernanke Until Fed Releases Information on Secret Bailouts
October 8th, 2009 |
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Below is letter text, and attached is the letter that was faxed to every member of the Senate Banking Committee. 10/07/09 Chairman Chris DoddU.S. Senate Committee on Banking, Housing, and Urban Affairs534 Dirksen Senate Office BuildingWas…
Senior Harvard and Cato Economist: Government is Proposing to Institutionalize Bailouts for the Giant Banks
September 24th, 2009 |
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Jeffrey Miron will testify today at 9 am east coast time before the House Committee on Financial Services.Miron is the Senior Lecturer and Director of Undergraduate Studies in the Department of Economics at Harvard, and also a Senior Fellow at the Cato…
“Obamacare Is to Health Reform What Bank Bailouts Are to Financial System Reform, Which Is to Say it Is the Opposite of What its Name Implies”
August 14th, 2009 |
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Pop quiz.Guess who wrote the following, someone on the left or the right:These are not really “town meetings” at all, at least in the sense of the town meetings I grew up with, and started out covering as a young journalist in Connecticut–that is, mee…
Bernanke: “I Had To Hold My Nose” Over Bailouts
July 27th, 2009 |
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WASHINGTON — Federal Reserve Chairman Ben Bernanke said Sunday that he had to “hold my nose” over last year’s taxpayer-financed bailouts of big financial companies but argued that the action had to be taken to avoid a major meltdown of t…
Government Watchdog: Bailouts Could Rise to $23 Trillion Dollars
July 20th, 2009 |
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I have previously pointed out that “independent experts say that total government spending [for the bailouts] could rise to $20 trillion dollars.”Now, the government’s own watchdog over the various bailout efforts – the special inspector general – sa…
Government Watchdog: Bailouts Could Rise to $23 Trillion Dollars
July 20th, 2009 |
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I have previously pointed out that “independent experts say that total government spending [for the bailouts] could rise to $20 trillion dollars.”Now, the government’s own watchdog over the various bailout efforts – the special inspector general – sa…