The Financial Crisis Inquiry Commission is releasing its report Thursday.The New York Times has a preview of the report, which shows that the Commission will slam the right people for causing the financial crisis.Barry Ritholtz gives a good summary of…
Posts Tagged ‘geithner’
Video of Bernanke and Geithner Trying to Get the Economy Unstuck
December 28th, 2010 |
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Here’s a leaked video of Bernanke and Geithner trying to get our economy unstuck:Bernanke and Geithner are driving the tow truck. The bulldozer which the tow truck is so persistently trying to yank free is Wall Street, and the white SUV being repeated…
Grayson Sends Letter to Geithner, FSOC Regulators on Foreclosure Fraud and Systemic Risk, Calls for Foreclosure Freeze
October 7th, 2010 |
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I’m passing on verbatim another excellent roundup on the foreclosure issue emailed to me by a friend on the Hill. He’s much better informed on the issue than I am.Rep. Alan Grayson is sending the following letter to Secretary Geithner and the other me…
Geithner: Pickpocketing Trillions from the People to Give to the Oligarchy Was “Deeply Unfair”, But We … Um … Had To
April 1st, 2010 |
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Tim Geithner told the Today Show that:It’s “deeply unfair” that some financial institutions that got taxpayer-paid bailouts are emerging in better shape from the recession than millions of ordinary Americans.Geithner also argued that President Barack O…
Greenspan: 100 • Geithner: 40 • Dimon: 7 • Johnson: Economic Crises Happen Every 5 Years In Our Current System
March 31st, 2010 |
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Greenspan says that the financial crisis was caused by a once-in-100-year event.Tim Geithner says its more like once every 40 years.Jamie Dimon implies every 5-7 years.But Simon Johnson says its really once every 5 years:Visit msnbc.com for breaking ne…
Geithner: Taxpayers Are Likely to Face “Very Substantial” Losses From Government’s Takeover of Fannie and Freddie
March 23rd, 2010 |
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Tim Geithner told the House Financial Services Committee today that txpayers are likely to face “very substantial” losses from the government’s takeover of home mortgage giants Fannie Mae and Freddie Mac.As Shahien Nasiripour notes:Taxpayers have pumpe…
Lehman Fraudulently Cooked Its Books, Accounting Giant Ernst & Young Helped, Geithner and Bernanke Winked and Slapped Them on the Back
March 12th, 2010 |
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As William K. Black said a year ago, the government’s entire strategy now – as in the S&L crisis – is to cover up how bad things are (“the entire strategy is to keep people from getting the facts”).Paul Krugman and others pointed out that Geithne…
Geithner: ‘We Saved the Economy, But We Kind of Lost the Public Doing It’ | Me: We Can Save the Economy, But Only If We Kind of Lose Geithner
March 8th, 2010 |
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Tim Geithner claims:We saved the economy but kind of lost the public doing it.Simon Johnson wrote: a more accurate essay entitled:They Saved The Big Banks But Kind Of Lost The Economy Doing It.My take on it is pretty straightforward:We can save the eco…
Do Summers, Geithner and Bernanke Have to Share Credit for Saving the Banks with Drug Kingpins?
December 14th, 2009 |
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I have repeatedly criticized Summers, Geithner, Bernanke and the rest of the boys for their approach to “saving” the too big to fail banks. I have argued that they are trying to paper over the banks’ real problems instead of fixing them.I have pointed…
79% of Americans Want an Audit of the Fed, Only 21% are in Favor of Confirming Bernanke, and Only 20% Think Geithner is Doing a Good Job
December 6th, 2009 |
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79 percent of the American public is in favor of auditing the Fed, according to a new poll by Rassumussen. Because another 14% are not sure, that leaves only 7% opposed to an audit. And as Rassumussen, the support for auditing the Fed is nonpartisan a…
Taleb: “I Will …Structure Trades With My Universa Friends To Bet On The Next Mistake By Bernanke, Summers, And Geithner.”
December 1st, 2009 |
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Famed financial expert and investment advisor Nassim Nicholas Taleb has revealed his new trading strategy:I will also structure trades with my Universa friends to bet on the next mistake by Bernanke, Summers, and Geithner.In an investing climate where …
Congressman DeFazio: “We May Have To Sacrifice Just Two More Jobs (Summers and Geithner) To Get Millions Back For Americans”
November 19th, 2009 |
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Congressman DeFazio said yesterday:We think it is time, maybe, that we turn our focus to Main Street … Unfortunately, the President has an adviser from Wall Street, Larry Summers, and a Treasury Secretary from Wall Street, Timmy Geithner, who don’t …
Special Inspector: AIG Counterparty VOLUNTEERED to Take a Haircut, But Geithner Refused
November 16th, 2009 |
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I received an advance copy of the Special Inspector General for Tarp’s Report called “Factors Affecting Efforts to Limit Payments to AIG Counterparties”, which will be released tomorrow (posted below).The report reveals that at least one counterparty …
Congressional Oversight Panel Versus Summers, Bernanke and Geithner
August 13th, 2009 |
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Yesterday’s report by the Congressional Oversight Panel on the bailouts concludes that banks remain threatened by billions of dollars of bad loans on their balance sheets, and more could fail if the economy worsens, and that – if unemployment rises sha…
Even Bernanke Admits this Could be Worse than the Great Depression
July 29th, 2009 |
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As I have previously pointed out, the current economic crisis could be worse than the Great Depression. See this and this.I have also pointed out that two economists said as recently as June that the global economic downturn was worse than the Great D…
Even Bernanke Admits this Could be Worse than the Great Depression
July 29th, 2009 |
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As I have previously pointed out, the current economic crisis could be worse than the Great Depression. See this and this.I have also pointed out that two economists said as recently as June that the global economic downturn was worse than the Great D…
Commission Investigating Financial Crisis Will Be a Whitewash
July 22nd, 2009 |
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While many people hoped that the Congressional committee on the financial crisis would launch a hard-hitting investigation like the Pecora Commission, it looks like the Commission will instead be a whitewash.Don’t get me wrong: there are some good peop…
House Dems To Geithner: Stop Backroom Deals With Wall Street
July 20th, 2009 |
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Now that bailed-out banks are reporting record-breaking profits, the U.S. taxpayer, who bought into these institutions at bottom-barrel prices, could wind up on the winning end of a nice profit. That’s what happens, after all, when you buy low…
Geithner Has Tough Task In Marketing US Debt
July 20th, 2009 |
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WASHINGTON — Timothy Geithner, architect of bank, auto and economic rescue plans, has another high-stakes job these days: traveling bond salesman.
The recession, financial crisis and two wars have pushed the federal deficit above $1 tri…
Paul Abrams: Geithner, Congress, Wake Up!: Before Bonuses, Goldman Should Pay Me Back the $30B Laundered Through AIG
July 16th, 2009 |
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Wall Street mythologists are now spinning the yarn that Goldman Sachs paid back the money it took from taxpayers and thus ought to be free to award enormous bonuses to their senior executives.