Help cause the economy to collapse and then you think you are entitled to a bunch more money from the U.S. taxpayer: A company run by former American International Group Inc Chief Executive Maurice “Hank” Greenberg sued the U.S. government for $25 billion, calling the 2008 federal takeover of the insurer unconstitutional. The lawsuit marks […]
Elizabeth Warren has been one of the most sound voices during this financial crisis. Republicans and Democrats have both looked up to her analysis of the problems plaguing our economy and have touted her as one of the brightest minds when it comes to economics. Tim Geithner – not so much. So this story should […]
Peter Orszag will become the first member of President Obama’s cabinet to leave: White House budget director Peter Orszag plans to leave government in July, becoming the first member of President Barack Obama’s Cabinet to depart, administration officials said Monday. Orszag is likely to join a think tank, colleagues said. Presidential advisers say a possible successor as director […]
The news yesterday that Timothy Geithner may have helped cover up AIG’s financial problems is sparking a House investigation: A House committee is planning to grill Treasury Secretary Timothy Geithner about his role in the massive bailout of failed insurer American International Group Inc. The House Oversight Committee is responding to news that key details […]
Something we aren’t used to seeing; oversight of an administration, being conducted by the administration’s own party: A congressional oversight committee opened an investigation yesterday into whether the Obama administration is circumventing a law that limits lavish pay for executives at firms benefiting from the $700 billion federal bailout. Rep. Edolphus Towns (D-N.Y.), chairman of […]
It looks like action is starting to happen in regards to AIG. Of course Cuomo is leading the way: New York state’s attorney general joined the growing list of those angered by news of American International Group’s bonuses, and wants to have details on his desk this afternoon about who is getting it rewarded. Attorney […]
Here’s the run down: Tim Geithner – treasury secretary Larry Summers – National Economic Council. Christina Romer – chair of the President’s Council of Economic Advisers. Melody Barnes – director of the Domestic Policy Council Heather Higginbottom – deputy director of the Domestic Policy Council. I’ll be adding Geithner into the Cabinet 44 page later […]
Bob caught Chuck Todd saying this today: “You guys [Team Obama] own the economy at 12 o’clock eastern time today, correct? When Senator Obama announces his Treasury Secretary, announces the Larry Summers position. It is now Barack Obama’s responsibility on the economy, is that not correct?” So the Constitution says “the President shall take office […]
Below the fold is the prepared remarks that Nancy Pelosi read on the House floor that was supposed to be the “partisan speech” she gave which pissed off Republicans. I have read it a few times now and can’t find a thing bad about it. It sounds like the Republicans are out looking for a […]
Last night Keith Olbermann ran this segment on McCain’s ties to former Senator Phil Gramm: Today all the blogs are a buzz about this “breaking news”. I guess they should read my blog more often, where I started talking about McCain and his ties to Gramm back in March. I’m glad this story is finally […]