Get out now

“For all the talk of polarization and partisanship in U.S. politics, what’s remarkable is the extent to which President Obama has continued policies and practices of his predecessor, George Bush, in domestic economics and military affairs. Economically, Obama has continued the bailout of Wall Street, maintained Bush-era tax cuts, pursued ’stimulus’ through large deficit spending and re-appointed Ben Bernanke, the Federal Reserve chairman who was a Bush favorite. In defense, Obama has broken with

Elizabeth Warren Highlights Washington’s Losing Battle on Housing

Who in Washington will give you a straight answer? Elizabeth Warren. Who is Elizabeth Warren? Her Wikipedia bio reads, Elizabeth Warren (born 1949) is the Leo Gottlieb Professor of Law at Harvard Law School, where she teaches contract law, bankruptcy, and commercial law. In the wake of the 2008-9 financial crisis, she has also become the chair of the Congressional Oversight Panel created to oversee the U.S. banking bailout, formally known as the Troubled Assets Relief Program. In 2007

New York Magazine on the Financial Blogosphere

Wall Street’s Digital Underground A few of the more prominent financial bloggers. Illustrations by Matthew Woodson The Amiable Skeptic Barry Ritholtz was a pioneer when he launched the Big Picture in 2003 using the beta version of blogging software, Word Press. He’s a levelheaded bear with a knack for seeing through the statistical fog of economic data, and wrote a well-received book, Bailout Nation . The Cranky Bul

The Continuing Disaster of Wall Street, One Year Later

As he attempted to do with health care reform last week, the President is trying to breathe new life into financial reform. He's using the anniversary of the death of Lehman Brothers and the near-death experience of the rest of the Street, culminating with a $600 billion taxpayer financed bailout, to summon the political will for change. Yet the prospects seem dubious. As with health care reform, he has stood on the sidelines for months and allowed vested interests to frame the debate. Nor has h

Mainstream Media Cover-Up Implodes As Millions March In DC

Kurt Nimmo Prison Planet.com Sunday, September 13, 2009 RELATED: Up to two million march to US Capitol to protest against Obama’s spending in ‘tea-party’ demonstration The Gray Lady of Operation Mockingbird, the New York Times , reports today that “thousands” of patriots protested against Obamacare, cap and trade, the bankster bailout, and unchecked federal government power in the District of Criminals yesterday. “The demonstrators numbered well into the tens of thousands, t

Barack O’Bush to Boost 401(k) Enrollment for Wall Street

by Scott Creighton The Obama administration’s hypocrisy is absolutely breathtaking. At a time when the “adjusted/new math” unemployment numbers show that there are more people out of work than there have been since 1983 , and the major banks are consolodating even more power through control of the market shares via the government’s many varied bailout schemes, Barack Obama goes on his radio address and announces his new initiative to make more people to buy into the failing 401k retirem

D.C.’s power, prestige take bite out of Big Apple

In the blatantly self-reverential battle between New York and Washington for the title of Most Important City in America, New York has always claimed an easy victory. Until now. When financial markets on Wall Street melted down last fall, the federal government stepped in with billions of bailout dollars, and the tables began to turn. So did the zeitgeist. In short, the Big Apple has been hurt in this economy while Washington has galloped to the rescue. The result: Washington is suddenly cool.

Obama’s Lobbyist Lie! Imagine That!!!

A former Treasury official has told the watchdog for the $700 billion Wall Street bailout program that Barack Hussein Obama’s promise to restrict lobbyist access to the bailout was made purely for political reasons. Months after the administration’s pledge, the lobbyist rules haven’t been implemented and Neel Kashkari, the one-time czar of the agency’s Troubled Asset Relief Program, told the office of the special inspector general for TARP that the pledge to craft safeguards against lobbyist i

That Sinking FDIC Feeling

That Sinking FDIC FeelingThe Wall Street Journal:It isn’t as if regulators don’t understand the problem. Earlier this year they quietly asked Congress to provide up to $500 billion in Treasury loans to repay depositors. The FDIC can draw up to $100 billion merely by asking, while the rest requires Treasury approval. The request was made on the political QT because, amid the uproar over TARP and bonuses, no one in Congress or the Obama Administration wanted to admit they’d need another bailout.Bu

More Bogus Bailout Reporting: “As Big Banks Repay Bailout Money, U.S. Sees a Profit”

Clearly, the spin is in. As a post earlier today discusses, the Financial Times is running a story that claims that the Fed made money on its rescue programs, then slips in all the tidbits in the body of the article to let discerning readers know that the reporter understands that the analysis is utter rubbish while looking like it is not crossing the Fed. In a simply remarkable coincidence of timing, the New York Time running a story with the very same message , namely that bailouts are g

Next Page »