Thorne Webb Dreyer, Editor
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Tag Archives: Bank Bailouts
Why Did A.I.G. Pay Goldman Sachs $12.9 Billion?
Hong Kong AIG building. Photo: Chow Meisy.The Gift That Keeps on GivingMarch 16, 2009 After four bailouts totaling some $170 billion, the American International Group has finally answered some of the questions about where the money went. Unfortunately, the answers … Continue reading
Posted in RagBlog
Tagged Bank Bailouts, Corporate Corruption, Financial Crisis, Wall Street Bailout
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Like Jeffrey Dahmer Selling Body Parts to a Clinic
Jason Mesnick and his Bachelor’s harem. Photo source: Whitney Port.The Rant ListBy Gail Collins / March 4, 2009 I am having a tough time dealing with news that the former president of Countrywide Financial, the mortgage company that did so … Continue reading
Roger Baker : AIG and the ‘Adverse Feedback Loop’
Image from nextlogics Bernanke hates to call our current situation a deflationary spiral despite its close resemblance to one. Perhaps because of the association of that term with the Great depression, Bernanke chooses to call our current crisis an ‘adverse … Continue reading
Posted in Rag Bloggers
Tagged Bank Bailouts, Economic Crisis, Economics, Global Economy, Investments
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Some Litttle-Known Financial Crisis Trivia
Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a “tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars.” According to Kanjorski, this electronic transfer occured over … Continue reading
We Won’t Pay for Your Crisis !!
In December 2001 Argentina was caught by street protests when former President Fernando de la Rua froze bank accounts to pay off the country’s foreign debt. The continuing protests, street riots, and looting of shops caused De la Rua to … Continue reading
Sen. Bernie Sanders : Socialist Strikes a Blow Against Wall Street Greed
Socialist Senator-elect Bernie Sanders (I-VT): Way ahead of the curve on this one. Photo by Brian Snyder / Reuters.Obama backs limit to executive compensation similar to Sanders’ Stop the Greed on Wall Street Act ‘We are on the verge of … Continue reading
Joseph Stiglitz : Should We Bail Out of the Bailout?
Stiglitz: ‘The hope that President Obama will be able to get us out of the mess is tempered by the reality that throwing hundreds of billions of dollars at the banks has failed to restore them to health, or even … Continue reading
Posted in Rag Bloggers
Tagged Bank Bailouts, Economic Recovery, Economics, Joseph Stiglitz
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Loving’s Take on the Wall Street Bailouts
Cartoon by Charlie Loving / The Rag Blog
FBI: ‘We Knew That the Mortgage-Brokerage Industry Was Corrupt.’
Bank repossession, foreclosure and for sale signs sit outside a foreclosed home in Houston. Two retired FBI officials asserted that the Bush administration was thoroughly briefed on the mortgage fraud crisis and its potential to cascade out of control, but … Continue reading
UN : Drug Money Used to Prop Up US Banks
‘The United Nations Office on Drugs and Crime had found evidence that “interbank loans were funded by money that originated from drug trade and other illegal activities,”‘By Boris Groendahl / January 25, 2009 VIENNA — The United Nations’ crime and … Continue reading
John Thain, Ex of Merrill Lynch : Flush Here
Former Merrill Lynch CEO John Thain. Not Clark Kent. Photo by Albert Watson / Fortune. If you enjoy an item which carries a punch line — esp. one which is unexpected–then this item deserves your reading. Clarification: a blogger started … Continue reading
Posted in RagBlog
Tagged Bank Bailouts, Corporate Profits, Finance, Obama Administration, Tim Geithner
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The Bailouts? Not Much For the Common Guy
Trillions to financial Terra Incognita; So far very little for ordinary AmericansBy Sherman DeBrosse / The Rag Blog / January 8, 2008 At this moment, the cost of the bailouts, including guarantees, stands at $ 7.2 billion. That includes a … Continue reading
Posted in Rag Bloggers
Tagged Automobile Bailout, Bank Bailouts, Economic Recovery, Finance, Global Economy
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