Larry Summers on Obama: “Clinton Would Never Have Made These Mistakes”

By: Sunday September 18, 2011 11:50 am

Ron Suskind’s new book is getting some attention for the gossipy tidbits it uncovers, like this one.


The Party Line – July 8, 2011: A Broadside? That’s Rich

By: Friday July 8, 2011 3:45 pm

By now, many of you have probably read Frank Rich’s inaugural piece for New York Magazine. Freed from the bean counters and word counters of the New York Times, Rich pours forth pages (and pages) on what he calls “Obama’s Original Sin.”

I am not going to say that Rich is not being tough, per se, just that he isn’t as tough as he thinks.

FDL Book Salon Welcomes Michael Hudson, The Monster: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America–and Spawned a Global Crisis

By: Saturday January 29, 2011 1:59 pm

In The Monster, Michael Hudson gives us a detailed account of the how Roland Arnall created Ameriquest and made it into the giant of subprime lending. In the process the book implicates the major Wall Street firms, most importantly Lehman, who eagerly packaged junk loans into mortgage backed securities and more complicated instruments. He also notes the corruption of the three major credit rating agencies, who received big fees for giving these assets investment grade stamps. The list of aiders and abettors includes Massachusetts Governor Deval Patrick, California Governors Grey Davis and Arnold Schwarzenegger, and even the community group ACORN.

Obama Considering Another Goldman Sachs Alumnus to Replace Larry Summers

By: Tuesday December 14, 2010 10:30 am

Just what the country needs — another veteran of the Vampire Squid.

Robert Rubin Demands Government Give $250 Billion to Millionaires

By: Wednesday September 1, 2010 4:50 pm

What’s important to understand is that this reversion to 2009 rates permanently would cost the country $292 billion dollars, according to the Tax Policy Center. If we made it retroactive to capture the tax on estates in this holiday year of 2010, maybe it’s closer to $250 billion. But it’s still a large hole in the budget relative to current law, in a time when every deficit hawk is screaming about long-term debt.

Late Night: Pat Tillman’s Dad Speaks for Me

By: Friday August 13, 2010 8:00 pm

Accountability is a foreign word for the Obama administration, unless you’re talking about walking away from an underwater mortgage.

Party Like It’s 1999: Rubinites Trading on a Happy Accident

By: Monday August 9, 2010 6:55 am

Thanks to a worldview that says, essentially, protect the banks, and let nature take its course, we have banks making record profits during this major economic recession — nature has been cruel to everyone without a Wall Street address. And the Robert Rubins of the world don’t have the imagination, or the desire, to think of what to do in that situation.

Dow Average to Congress: Your Reform Bill is a Joke

By: Thursday May 20, 2010 3:01 pm

The market has dropped over 400 points in the past two days, and it’s been down 9 out of the past 12 days. While there are certainly a lot of factors influencing the situation, the market’s volatility sends a clear message is that the reform bill is inadequate to restoring confidence in their wake.

The Hamilton Project: Same Corporatist Whine In New DLC Vessels

By: Wednesday February 13, 2008 6:01 pm

The Hamilton Project – the Financial Times loved it: In that context, we welcome the launch yesterday by the Brookings Institution of a new platform – the Hamilton Project, named after America’s first Treasury Secretary – to address America’s looming economic challenges. Although composed mostly of Democrats, the group states a clear preference for market-based solutions to America’s problems.

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