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Tag Archives: Geithner

Extend and pretend round II

Ross Levine and Glenn Loury of Brown University argue that the 2007-2009 financial crisis is repeat of the S&L crisis  “extend and pretend” treatment of bank solvency. Expect this to become a meme soon… cause it’s true… And another important critique of extend and pretend at ZeroHedge… a comparison to the Latin debt crisis and […]

Barney Frank, Zhu Min and global hot money flows…

Interesting undercurrents at The Next Global Crisis panel at the World Economic Forum at Davos… Check out the video at 1 hour 10 minutes. You can see the comments of Zhu Min, the deputy governor of the People’s Bank of China (the Federal Reserve of China), as he gives some insight from his part of […]

Bankers to lobby at Davos for softer reforms

At the House Financial Services Committee hearing last week Chairman Barney Frank mentioned that he would be attending the World Economic Forum in Davos and have a chance to discuss coordinating global financial regulation with officials from other countries… all to the good… The Financial Times is reporting another variety of lobbying that the banks are […]

What, are our banks made out of balsa wood held together by baby tears?

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Clusterf#@k to the Poor House – Wall Street Bonuses www.thedailyshow.com Daily Show Full Episodes Political Humor Health Care Crisis HT HuffPo…  an aside… the webcast of the Senate Banking hearing of September 23, 2008 where Secretary Paulson and Chairman Bernanke try and explain […]

The heavy roll is coming…

Thanks to ZeroHedge we can see the dispersion of Treasury debt… The front end looks particularly heavy… Here is how ZeroHedge summarizes the conditions we face on the debt front… ~~~ “What emerges is a unique picture of the evolving nature of Treasury debt, its extensive and recent growth and a clear picture of the […]

“Building up another bubble on the bond markets”

“Moral hazard doesn’t exist anymore…”… so sayeth the Euro crowd… President Obama… you’re smart enough to understand “banker code”… call up Adair Turner if you need a decoding kit… This video from Bloomberg shows Karsten Schroeder, chief executive officer of Amplitude Capital LLP, talking about risk-taking by banks and the condition of credit markets.¶ ¶ Central bankers will […]

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 […]

The $5.5 trillion can kicked down the road…

Astounding move on the part of the US Treasury to announce these changes to the government sponsored entities on Christmas Eve… unfortunately it echoes all the late Sunday night moves made when Tim Geithner was President of the Federal Reserve Bank of New York like the conversion to bank holding companies of Goldman Sachs and […]

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.

`Fundamental Questions’ on Derivatives Plan

Hal Scott, a Harvard Law School professor and director of the Committee on Capital Markets Regulation, talks with Bloomberg’s Margaret Brennan about Treasury Secretary Tim Geithner’s plan to overhaul the financial regulatory system. Geithner was on Capitol Hill today to discuss proposals to revamp the way derivatives are regulated. He said the U.S. should require […]