Speaking with ABC’s Jake Tapper on This Week, former President Bill Clinton — during whose tenure the government decided against regulating derivatives and allowed the repeal of some of the Depression-era Glass-Steagall Act, allowing the creation of megabanks — said he was wrong.
I think [Treasury Secretaries Robert
This morning, the Financial Crisis Inquiry Commission heard from Robert Rubin and Charles Prince, the former heads of banking behemoth Citigroup.
Prince opened his remarks with regrets. “I’m sorry,” he said. “I’m sorry the financial crisis has had such a devastating impact for our country. I’m sorry about the More…
One can hardly wander around the White House or the Treasury Department without bumping into someone who worked for Goldman Sachs. A short list:
Over at Beat the Press, economist Dean Baker raises an interesting question that deserves follow-up: Is there a hidden tax credit for Citigroup in the upcoming Obama administration’s proposed stimulus plan?
From Baker:
The media seem to have largely overlooked the Citigroup tax credit in their discussion
Wait, what’s this? Citigroup’s top executives are giving up their annual bonuses this year, according to the Financial Times. CEO Vikram Pandit and senior advisor and director Robert Rubin are among those foregoing the usual end of the year cash awards.
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