Jack Lew’s Citigroup Contract Included Incentive To Go Into Government

By: Monday February 25, 2013 6:00 am

There may not be anyone left in America that doesn’t know Wall Street sets the agenda in Washington, that the revolving door between finance capital and the so-called regulators of finance capital spins so fast the IAEA should demand inspections. And so we learn that President Obama’s Treasury Secretary nominee not only worked for the [...]

Geithner Will Work For Wall Street Not On It

By: Friday February 8, 2013 7:40 am

And the circle is complete. Tim Geithner’s first post-Treasury Secretary job will be as a “distinguished fellow” at the Council On Foreign Relations. For the uninitiated, the Council On Foreign Relations is a more or less open conspiracy to use the American government as a vessel for advancing Big Business’ interests abroad. CFR represents America’s [...]

British Might End Too Big To Fail Banking

By: Monday February 4, 2013 6:59 am

After a global financial crisis, an epic price fixing scandal, and embarrassing criminal conduct British regulators are considering ending Too Big To Fail Banking. British Finance Minister George Osborne has proposed legislation that if banks do not shield their riskier investment activities from day to day banking they will face restructuring. Britain is shaking up [...]

Tim Geithner’s Lead Negotiating Position on Fiscal Slope Should Cause Concern

By: Tuesday November 27, 2012 12:21 pm

Matt Yglesias makes the astute observation that Jack Lew will be the next Treasury Secretary, and I agree. However, his reasoning for this overlooks one key detail: Why? Well because the White House has decided that it wants the Treasury Secretary to be deeply involved with budget issues, and who better than a former OMB [...]

Unclouding The Actual Debate on Tax Rates

By: Tuesday November 13, 2012 10:49 am

If you listened to the traditional media organs, they’ll tell you that we’re starting to see points of congruence on taxes at the academic, opinion leader level of both parties. Don’t believe them. At first glance, for example, Romney economic advisor Glenn Hubbard endorsing higher taxes on the rich suggests a white flag of surrender [...]

Bowles and Simpson Lurking on the Edges of Fiscal Cliff Disarray

By: Tuesday May 29, 2012 9:41 am

One of the bigger issues with the complete lack of consensus from the Democratic establishment as the fiscal cliff nears is that it gives oxygen to a group of right-leaning fiscal scolds who see the opportunity to decimate safety net programs, allegedly in exchange for some tiny giveback on taxes they will describe as balanced. [...]

Revealed Preferences: Evidence Points to Banks Owning the Place

By: Thursday April 19, 2012 8:15 am

Steve Randy Waldman had a much remarked-upon piece about how policymakers choose to have recessions and depressions, because they have been captured by an elite rentier class. It becomes much easier to understand the decisions made in government with this perspective. We are in a depression, but not because we don’t know how to remedy [...]

Shift in Tactics Marks New Phase of Occupy Movement

By: Friday November 18, 2011 11:04 am

Yesterday’s Occupy Together day of action yielded hundreds of protests and hundreds of arrests. Union involvement was palpable, and provided a model into closer connections going forward. In addition, the incidents of police brutality seemed to ramp up a notch, particularly in New York City, where even a state Supreme Court justice received a shove. [...]

Robert Rubin Demands Government Give $250 Billion to Millionaires

By: Wednesday September 1, 2010 10:05 am

One area of the debate over the Bush tax cuts that seems pretty cut and dried is the estate tax. Right now there is no estate tax for 2010. If we do nothing, it will revert back to the Clinton-era rates of 55% for estates over $1 million dollars (that’s a marginal tax, by the [...]

Rubinites Trading Off a Mid-90s Happy Accident

By: Monday August 9, 2010 6:15 am

Paul Krugman is a bit too polite with this comment, methinks: I’m saddened but not really surprised by Robert Rubin’s declaration that we don’t need more stimulus. It has seemed to me from early on in this crisis that Rubin and his disciples wanted to believe that this world crisis was something like the 1997-98 [...]

Next Financial Crisis Inquiry Commission Hearings Include Greenspan, Rubin

By: Wednesday March 31, 2010 10:04 am

The Financial Crisis Inquiry Commission, the panel headed by former California State Treasurer Phil Angelides, designed to understand the origins of the financial crisis and offer recommendations for the future, has announced its next set of public hearings in Washington. Next Wednesday, Thursday and Friday, the FCIC will welcome such key people in the story [...]

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