Archive
WaMu: Rampant Fraud and Financial Collapse
There are two types of financial outrages: acts that are outrageously illegal, and acts that are, outrageously, legal. Yesterday's Senate hearing on the rise and fall of Washington Mutual was a rare examination of the former outrage, documenting the pervasive practice...
Liveblogging the Washington Mutual hearing
4:25 Levin is ripping Killinger on option-ARM delinquencies. WaMu performed a study concluding that option-ARMs were about to default like crazy, and right after that study, WaMu started pushing option-ARM securities hard to investors. The company sold a $3 billion...
Trade Deficit Grows
Where I previously wrote that some things were getting worse more slowly, the trade deficit is just getting worse again. The US Trade Deficit Widened in February by 7.4 percent over the previous month, to $39.7 billion. "Imports surged 1.7 percent for the month....
Hu Knew
Hu knew. Chinese president Hu Jintao knew that upon coming to Washington for Obama’s nuclear security summit he would have to have a serious chat about currency with President Obama and Secretary Geithner. Hu also knew that he wasn’t ready to cooporate. On Monday,...
Progressive Breakfast: Wall Street On The Menu
Each morning, Bill Scher and Terrance Heath serve up what progressives need to affect change on the kitchen-table issues families face: jobs, health care, green energy, financial reform, affordable education and retirement security. Wall St. Reform Tops Agenda As...
Progressive Breakfast: Progressives v. Wall Street
Each morning, Bill Scher and Terrance Heath serve up what progressives need to affect change on the kitchen-table issues families face: jobs, health care, green energy, financial reform, affordable education and retirement security. Battle To Curb Wall Street Heats Up...
Progressive Breakfast - 4/13/2010
Each morning, Bill Scher and Terrance Heath serve up what progressives need to affect change on the kitchen-table issues families face: jobs, health care, green energy, financial reform, affordable education and retirement security. Battle To Curb Wall Street Heats Up...
Washington Post Misinforms Readers About Deficit
The job of the news media is supposed to be to inform, not misinform. But Tuesday's Washington Post story, Obama team points to smaller deficit numbers, makes this claim about the cause of the huge $1.4 trillion budget deficit for FY 2009. The federal deficit was...
Robert Rubin: Amoral, Blundering ... And Still Influential in Washington
To call Robert Rubin an overpaid riverboat gambler would be to do a disservice to riverboat gamblers. To be sure, Rubin's salesmanship, arrogance, and cold lack of remorse fit the mold. But no card sharp ruined as many lives as the former Treasury Secretary and...
With More Deficit Hysteria Propaganda, CNN Becomes "Most Busted Name In News"
Despite our demand for CNN to at least provide equal time to defenders of Social Security, Medicare and public investment when discussing issues related to debt and the deficit, the sputtering network proceeded this weekend with its planned four hours of
