The Congressional Oversight Board overseeing the financial crisis could question Treasury Secretary Timothy Geithner about his response to the financial crisis, but the COP is unarmed. It can't force answers or haul in the evasive. What we want is accountability. Will Congress step up?
Democratic Senator Chris Dodd is in deep trouble. According to Stuart Rothenberg, Dodd is the most vulnerable Senator up for re-election in 2010. Dodd's reputation has been sullied in the financial collapse. Chair of the Senate Banking Committee, he received special treatment from lender Countrywide Financial. As Chair, Dodd also was thrown under the bus by Treasury officials in the AIG bonus brouhaha. So, why not turn the lemons into lemonade?
The debate over how well President Obama did at the G-20 summit last week—and certainly the debate over who touched who first in the encounter between First Lady Michelle Obama and Britain's Queen Elizabeth—doesn't address the most important question of all: What did working families around the world get out of the summit? What could they have gotten? more »
Treasury Secretary Tim Geithner has called for "sweeping regulation" of the financial community. But before we decide on the salvation, we need a public probe of the fall along the lines of the probe Ferdinand Pecora launched in the 1930s to expose the roots of the Depression.
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