Archive
Progressive Breakfast - 5/7/2009
Stress Test Results Today After PR Rollout "In an interview on Wednesday night with Charlie Rose, Treasury Secretary Tim Geithner struck an optimistic tone, saying that none of the 19 banks that experienced government stress tests are insolvent, but he was cautious...
Did Derivatives Drive the Meltdown?
A World Bank economist is suggesting we need to concentrate less on the complexities of high finance and more on the noxious simplicity of our deeply unequal income distribution. Our high priests of high finance — the bankers and traders of Wall Street — take great...
House Says Yes To Financial Crisis Probe
Two weeks after House Speaker Nancy Pelosi called for the creation of an independent panel that would investigate the causes of the current financial crisis, the House of Representatives has joined the Senate in approving a financial fraud bill that authorizes such a...
The Bus Ride To Save American Manufacturing
Assembly-line workers and Michigan communities aren’t the only ones with a stake in a strong U.S. auto manufacturing industry. More than 7.2 million paychecks are tied to U.S. autos, ranging from supply manufacturing to health care, education, service, retail and...
Progressive Breakfast: Continental Style
Due to a technical glitch, we have a shortened, continental-style, (but still filling!) Progressive Breakfast this late morning. Stress Test Results Trickle Out "The government has told Bank of America it needs $33.9 billion in capital to withstand any worsening of...
Progressive Breakfast - 5/6/2009
Due to a technical glitch, we have a shortened, continental-style, (but still filling!) Progressive Breakfast this late morning. Stress Test Results Trickle Out "The government has told Bank of America it needs $33.9 billion in capital to withstand any worsening of...
The Subprime Rogues Who Bought Congress
A Center for Public Integrity report released today, "Who's Behind the Financial Meltdown," spells out how 25 of the country's largest financial institutions fueled the subprime mortgage market that precipitated the global financial crash. In addition, as a...
Corruption Is Dangerous to Your Health
"And the banks -- hard to believe in a time when we're facing a banking crisis that many of the banks created—are still the most powerful lobby on Capitol Hill. And they frankly own the place" That was Sen Richard Durbin, the powerful Senate Democratic whip, irate as...
Financial Crisis Investigation Closer To Reality
Progressives who have been campaigning for an independent commission to expose the causes of today's financial crisis are about to score a major victory as early as Wednesday in the House. That is when the House is expected to take up mortgage fraud legislation that...
Progressive Breakfast: Banks Need More Capital
Banks Need More Capital Bloomberg: "The Federal Reserve plans to deliver results of stress tests on U.S. banks to executives today that may show about 10 companies need additional capital to weather a deeper recession, people familiar with the matter said. Banks are...
