A Parable Comes to Life in Washington DC, Elizabeth Warren Edition

By: Saturday December 13, 2014 10:00 am

There are a lot of members of Congress who say they love a certain old storyteller, but after watching them at work these last few days, they sure don’t act like they love him — or hist stories.

 

Study Shows Being Rich Makes You An ‘Asshole’

By: Tuesday July 8, 2014 11:07 am

Ever had the sneaking suspicion that most rich people are jerks? Well the connection between wealth and narcissism has now been studied and the results show that as people get richer, they are more likely to feel entitled, to exploit others, and to cheat.

FDL Book Salon Welcomes Bob Ivry, The Seven Sins of Wall Street: Big Banks, Their Washington Lackeys, and the Next Financial Crisis

By: Sunday March 23, 2014 1:58 pm

This book is an eye-opener, a wake-up call for those in Washington to get their heads out of Wall Street’s asses, a state unthinkable for most politicians. But, it’s also a wake-up call to us, to be ever more vigilant with every one of our financial dealings, because the worst is yet to come.

Timothy Geithner Goes to Wall Street to Cash In

By: Monday November 18, 2013 12:52 pm

Former Treasury Secretary Timothy Geithner has, predictably, cashed in his favors to Wall Street by joining a financial services firm, Warburg Pincus. According to a press release from the private equity firm, Geithner will be President of the company and a Managing Director as well as a member of the Executive Management Group. In other words, Geithner will be well compensated at Warburg Pincus which has over $35 billion of assets under management.

Bank Chairman Admits to Using Bailout Money to Buy Condo in Florida

By: Wednesday August 28, 2013 7:30 am

Originally devised to help finance public interest projects the corporate form of organization has become an excellent way for powerful interests to externalize their costs onto society while snatching tax benefits. In fact, over one-third of the nation’s highest-paid CEOs from the last twenty years led companies that were subsidized by American taxpayers. Another fact that blows away the meritocracy argument.

Poverty Hits Record Levels as Washington Debates More Austerity

By: Wednesday April 3, 2013 7:35 am

While Washington debates cutting Social Security and Medicare the facts are in on the “recovery” – it’s a bust. Not only has unemployment remained historically high – 7.7% officially, 23% by the old metrics – but poverty has spiked to historic highs.

TARP Watchdog Reports Treasury Allowed Excessive Bonuses

By: Tuesday January 29, 2013 1:50 pm

The failure of the Treasury Department under Tim Geithner to rein in bonuses for companies bailed out by taxpayers has been an issue since TARP began.

Transcripts Reveal Federal Reserve Missed Housing Bubble

By: Friday January 18, 2013 12:34 pm

Transcripts released by the Federal Reserve reveal the central bank misinterpreted the downswing in the housing market as a positive signal of the market pricing in risk rather than the beginning of a bust that would quickly unravel the financial markets.

AIG Considers Suing Government For More Bailout Money After “Thank You” Ads

By: Wednesday January 9, 2013 10:30 am

AIG is considering Wednesday whether the company should join a lawsuit against the government that spent $182 billion to save it from collapse. If AIG decides to join the complaint, which seeks $25 billion in damages, it would pit the company against the government that in 2008 kept it from buckling under the weight huge losses on mortgage-backed securities and other toxic assets.

AIG Announces PR Blitz To “Thank” Taxpayers For Bailouts

By: Tuesday January 1, 2013 11:16 am

In what borders on performance art, AIG is launching a condescendingpublic relations campaign to thank American taxpayers for letting them extort bailout money from Congress.

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