Taking a quick cue from Massachusetts, the Obama administration is putting on its populist hat this week to take on the nation’s largest financial institutions in the name of consumer protection. The president’s proposal — which would prevent large Wall Street firms that trade outside of their clients’ More…
The tax on the nation’s bailed-out banks, proposed by President Obama last week, has won the support of congressional liberals, and even some conservative commentators have jumped on board. But don’t try to convince Peter Morici. The University of Maryland business professor (and prominent voice on More…
As Wall Street prepares to dole out billions of dollars in 2009 bonuses, Sen. Charles Grassley (R-Iowa) has his eyes on one particular payment of $2.8 million. That’s the amount reportedly paid to Anastasia Kelly, AIG’s general council, who resigned abruptly on Dec. 30 More…
Two messages worth noting from Treasury Secretary Tim Geithner’s interview with CNBC yesterday: (1) Although he was the head of the New York Federal Reserve in late 2008, he had nothing to do with the decision to pay $62 billion to Goldman Sachs and others through More…
Via The Hill, Treasury Secretary Timothy Geithner will appear before the House Oversight and Government Reform Committee later this month to testify on his role surrounding the $62 billion funneled through the AIG bailout to other Wall Street firms — payments that officials at the New York Federal More…
Here’s the statement from Sen. Chris Dodd (D-Conn.), chairman of the Banking Committee, supporting the Obama administration’s proposal to apply a tax on the nation’s financial giants in order to repay taxpayers for the 2008 bailout.
Wall Street owes a great debt to the American public and we
Here’s the letter from Rep. Edolphus Towns (D-N.Y.), chairman of the House Oversight and Government Reform Committee, asking Treasury Secretary Tim Geithner to testify later this month on the more than $60 billion filtered to Goldman Sachs and other Wall Street giants as part of the AIG bailout. Bloomberg News More…
Yesterday, New York Times business columnist Andrew Ross Sorkin suggested that members of the Financial Crisis Inquiry Commission — the panel charged with investigating the causes of the Great Recession — drill Goldman Sachs CEO Lloyd Blankfein over the firm’s strategy of selling bundled mortgages to other investors at More…
The Federal Reserve has instructed federal investigators to withhold from Congress certain documents related to the Fed’s payments to AIG counterparties, according to a recent letter from Neil Barofsky TARP inspector general, to Rep. Darrell Issa (R-Calif.). The letter, available here, was published on Issa’s site.
“The Federal Reserve More…
Rep. Edolphus Towns, chairman of the House Oversight and Government Reform Committee, will subpoena the New York Federal Reserve for documents related to the AIG bailout, the New York Democrat announced today.
The New York Fed has been under close scrutiny since last week, when it was revealed More…
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