Bernie Sanders does what others should have done: Sen. Bernie Sanders Wednesday placed a hold on the nomination of Ben Bernanke for a second term as chairman of the Federal Reserve. “The American people overwhelmingly voted last year for a change in our national priorities to put the interests of ordinary people ahead of the […]
There has been a lot of warnings lately that we are heading right towards another Lehman style collapse: Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc. “In the U.S. and […]
It looks like all the talk Obama did about AIG yesterday was nothing but a smoke-screen: President Barack Obama said Monday that he would “pursue every single legal avenue to block” $165 million in bonuses to American International Group Inc. employees who were in part responsible for the insurance giant’s near collapse. But hours later, […]
The Obama administration is in trouble. Public anger over these AIG bonuses appear to be the final straw: The Obama administration is increasingly concerned about a populist backlash against banks and Wall Street, worried that anger at financial institutions could also end up being directed at Congress and the White House and could complicate President […]
And we have a new definition of dumb ass – Oscar Goodman: Sin City’s mayor wants President Barack Obama to apologize for saying companies shouldn’t visit Las Vegas on the taxpayer’s dime. Oscar Goodman spoke after a regular scheduled meeting with tourism officials where he expressed concern that federal lawmakers might be discouraging travel to […]
When banks abuse their bailout funds, the Obama administration takes action: A Treasury Department official on Monday called Citigroup, which has received $45 billion in bailout capital from the government, to protest plans to accept delivery on a luxurious $50 million corporate jet made in France. [SNIP] The Treasury official called the bank to complain […]
All the talk this week about Timothy Geitner’s tax problems seems like even smaller potatoes compared to this: Eighty-three of the nation’s 100 largest corporations, including Citigroup, Bank of America and News Corp., had subsidiaries in offshore tax havens in 2007, and some of the companies received federal bailout funding, a government watchdog said Friday. […]
Eliot Spitzer is back, this time as Slate’s newest columnist: Last month, as the financial crisis and the government rescue plan dominated headlines, almost everyone overlooked a news item that could have enormous long-term impact: <a href=”http://www.avbuyer.com.cn/e/2008/30063.html”>GE Capital announced the acquisition of five mid-size airplanes—with an option to buy 20 more—produced by CACC, a new, […]
These companies that are being given lifelines by our government are like a bunch of children. They want all the money, but don’t want to take on any responsibility. Here’s a perfect example: AIG, Citibank and a number of other federally bailed-out financial institutions have no plans to cancel hundreds of millions of dollars in […]
With the news of global markets sinking today, expect our stock market to go down when it re-opens from the holiday tomorrow: If futures contracts traded on a day when U.S. stocks weren’t even due to open are anything near accurate, then markets will be in for a major decline on Tuesday, with concerns about […]