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Tag Archives: bailout

Banqueros en acción

From the IMF’s World Economic Outlook… “A Policy-Driven, Multispeed Recovery“… ~~~ “Driving the global rebound was the extraordinary amount of policy stimulus. Monetary policy has been highly expansionary, with interest rates down to record lows in most advanced and in many emerging economies, while central bank balance sheets expanded to unprecedented levels in key advanced […]

We’ve stuffed all the problems in the closet…

An unknown Wall Streeter says that Treasury Secretary Geithner and the Obama economic team are the Emperor with no clothes…  if this guy is saying it… everyone is saying it… From Bloomberg… Doug Dachille, chief executive officer of First Principles Capital Management LLC, talks with  Pimm Fox about the U.S. government’s decision to provide additional aid to GMAC […]

Revisionist history

Keith McCullough, chief executive officer of Research Edge LLC, talks with Bloomberg’s Erik Schatzker about Treasury Secretary Timothy Geithner’s assertion that Goldman Sachs Group Inc. would have failed without government support last year. McCullough also discusses Tobin tax, executive pay and the Troubled Asset Relief Program.

This is what reform sounds like…

Elizabeth Warren has done Americans an enormous service in the development of the concept of a “Consumer Financial Protection Agency… and more immediately her leadership of the Congressional Oversight Panel has been very effective in the oversight of the use of the hundreds of billions of TARP dollars… she speaks plainly for the need for […]

Did lobbying contribute to the financial crisis?

This was one of the most practical papers from the IMF conference last week… the researcher dug into the reports that US lobbyists must file with the Senate to map the outcome of mortgage lending issues that financial firms lobbied on. They show that certain firms lobbied to weaken standards and then went on to […]

Some new panhandlers in Harvard Square

From Jesse’s Cafe Amercain… ~~~ This was the very moment of Obama’s failure, when he allowed Summers, Geithner and Bernanke to establish the principle of “Too Big To Fail” and set up a financial oligarchy at the expense of taxpayers. We would have expected this out of the Treasury under Hank Paulson, but to see […]

The roadmap

Just a reminder of the scope of the intervention in the economy… a little dated and incomplete… from WaPo…

Houses and factories

As a nation we are facing some very difficult conditions. We have made personal consumption, the financial industry, health care and housing the  engines of our economy. The fuel for this economic activity has been excessive levels of borrowing at the personal, corporate, municipal and federal levels. Our debt levels are staggering. Making all this […]

Predation in the banking space…

And the “too big to fail” banks get bigger… and the instability of our financial system will increase again… Interview and discussion with the Chairman and C.E.O. of KBW, John Duffy giving his thoughts about the economy and the market. Bloomberg News, (running time – 9:20 minutes)

Reduce “too big to fail”

An important view about the impact of consolidating all bank supervision in a “National Bank Supervisor“. From the opinion piece of FDIC Chair Sheila Bair in the New York Times yesterday… ~~~~”… Concentrating power in a single regulator would inevitably benefit the largest banks and punish community ones. A single regulator’s resources and attention would be […]