Tag Archives: bailout

Neel Kashkari Is Out

About a month ago I questioned why Neel Kashkari – the incompetent Treasury official in charge of the TARP program – was still employed. Today, we got some good news. Neel Kashkari is gone: Herbert M. Allison Jr., the chief … Continue reading

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Joseph Stiglitz: “Robbery Of The American People”

Nobel Prize-winning economist Joseph Stiglitz does not like the Geithner plan: “The Geithner plan is very badly flawed,” Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment Conference in Hong Kong. U.S. Treasury Secretary Timothy Geithner’s plan to … Continue reading

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Wall Street Hearts Geithner

After the Treasury Department released the refurbished plan to buy up “legacy assets” (formerly known by the less tasteful moniker “toxic assets”) Wall Street responded with two thumbs up. Treasury Secretary Tim Geithner has gone from goat to hero in … Continue reading

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Robbing The Taxpayer

The United States government is colluding with the banks to rob the taxpayer. That, in a nutshell, is the newly shaped Tim Geithner bank rescue plan. That, in a nutshell, was the Hank Paulson bank rescue plan that has already … Continue reading

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Barack Obama’s Bonus “Outrage”

Barack Obama was outraged yesterday over the AIG bonuses. He was OUTRAGED. He said yesterday: This is a corporation that finds itself in financial distress due to recklessness and greed. Under these circumstances, it’s hard to understand how derivative traders … Continue reading

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