“The current US and UK approach may end up looking like the zombie banks of Japan that were never properly restructured and ended up perpetuating the credit crunch and credit freeze,” he said.
CIA director nominee Leon Panetta gave startling testimony in his confirmation hearings by retracting a statement critical of the Bush Administration’s rendition policy and proclaiming that CIA employees will not be punished for any war crimes that t
“I’m just saving your ass, stupid!” If this is what President George W. Bush said in response to the enemy within and his detractors now in power, are we to hang all our presidents accused of crime against humanity – real or imagined?
To raise the TCE at the two banks to 5%, the government would need to pay around $150 billion more for those toxic assets than their current book value, for a premium of about 40%. That's a great deal for the banks, but a calamity for taxpayers.
Rachel Maddow realizes that the Obama Administration is treading on dangerous ground if they continue the same kleptocrat policies of Paulson and Bernanke. She even has the guts to admit that its getting hard to get a good nights sleep.
Regardless of election hoopla, Washington is the same one-party town it always has been—controlled not by Democrats or Republicans, but by Kleptocrats (i.e., thieves). Their ties to money make them the undead zombies in the slash-and-burn horror flic
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site.
How long will it be before you threaten Congress with Martial Law - you know, tanks, rifles, shooting civilians? I thought that sort of crap left office on January 20th with Paulson and Bush.
[change] President Barack Obama established a office of faith-based initiative with a broader mission than the one overseen by President Bush. Obama said the office would reach out to organizations that provide help "no matter their religious or
Drug Enforcement Administration agents this week raided four medical marijuana shops in California, contrary to President Obama's campaign promises to stop the raids.
President Barack Obama warned on Thursday that failure to act on an economic recovery package could plunge the nation into a long-lasting recession that might prove irreversible, a fresh call to a recalcitrant Congress to move quickly.
“Deflation is a real risk facing the economy,” Summers, the director of the National Economic Council, said today on a conference call with reporters. “We do not have time to wait” to approve the fiscal-stimulus package the Obama administration is pu
The United States government has threatened to withhold intelligence cooperation with the UK if evidence of the alleged torture of a ‘terrorist’ detainee at Guantanamo Bay is made public.
President Obama said Wednesday the recession will turn into "a catastrophe" if the economic stimulus is not passed quickly, lobbying anew for the plan as its price tag climbed above $900 billion and drew more criticism.
This YouTube video is excellent proof that a well informed minority of Democrats are coming to the realization that Obama's economic policies are a fraud.
Both in his years in the Clinton treasury and as chair of the New York Federal Reserve Bank, Geithner has been paving the way for a runaway Wall Street. Nor has he changed his ways
Here's the deal. The government will buy the worst assets, dramatically overpay for them, stick taxpayers will the losses, and only reduce bonus pools of the banks by 40%. It's a great deal for those in the bonus pools. It's a horrid deal
Mr. President, you can no longer snow the American People nor can you allow others in the government to do so. They've figured it out - that this was one gigantic layered Ponzi Scheme, and frankly, they don't trust their government any more.
What we have from Team Obama is a bigger abortion of a :"throw money at bad bank assets" plan that I feared in my worst nightmare. And, they have the temerity to invoke triage to make what they are doing sound surgical and limited.
the tax code can hardly be blamed for the recent problems of Obama administration appointees who came up short in what they owed the government, several tax experts said . "I can't believe they didn't know what was going on," said
Nancy Killefer withdrew her candidacy to be the first chief performance officer for the federal government, saying she didn't want her bungling of payroll taxes on her household help to become a distraction for the Obama administration.
President Obama is accomplishing the impossible. He’s making George W. Bush look good, which is almost as difficult as making okra look good to a kid.
[It's OK to be a tax cheat and head the IRS, but not the HHS?] Tom Daschle withdrew Tuesday as President Barack Obama's nominee to be health and human services secretary, dealing potential blows to speedy health care reform
While Treasury can try to argue that this is a less costly approach I would argue that it is a thinly veiled attempt to prevent losses from being recognized and which will result in larger levels of ultimate loss.
Holbrooke has also called for vigorous action to deal with extremist sanctuaries in Pakistan. He charged that Pakistan has the power to destabilize its neighbor Afghanistan, "and has."
If today’s looming economic depression is a manmade (that is, lobbyist-financed) phenomenon, then what policy is needed as a remedy?
[change] Holder's support from a broad base including onetime deputy attorney general James B. Comey, former FBI director Louis J. Freeh and President George W. Bush's terrorism and homeland security adviser Frances Fragos Townsend.
Literally scare money into Treasuries despite gargantuan supply, exploiting the view of "safety" that people have in Treasury debt. This in turn requires intentionally fomenting a stock market crash.
Trying to salvage his nomination, Tom Daschle apologized Monday for delinquent tax payments as President Barack Obama and a top Senate chairman stood by him as the choice to lead the Health and Human Services Department.