Perps in the White House

Robert Scheer / Truthdig Jan 12, 2011 While it is widely recognized that the banking meltdown has left enormous economic pain and political upheaval in its wake, it is amazing that the folks who created this mess are rewarded with ever more important positions in our government. It is amazing that the folks who created this banking meltdown are rewarded with ever more important positions in our government. Dig deeper ( 3 Min. Read )

Daley Tapped to Be Obama’s Chief of Staff

Staff / Truthdig Jan 7, 2011 For his next act, President Obama has made a replacement for former Chief of Staff Rahm Emanuel appear, and it's none other than William Daley, another member of Chicago's Daley political dynasty -- and one with close ties to Wall Street.For his next act, President Obama has made a replacement for former Chief of Staff Rahm Emanuel appear, and it's none other than William Daley. Dig deeper ( 1 Min. Read )

Gag Me With a Banker

Staff / Truthdig Jan 4, 2011 Having learned nothing from his midterm drubbing, President Obama is reportedly considering making JPMorgan Chase executive William Daley his chief of staff. Because what this administration needs is more sympathy for the hooligans on Wall Street. Dig deeper ( 1 Min. Read )

Invasion of the Robot Home Snatchers

Robert Scheer / Truthdig Oct 13, 2010 How do you foreclose on a home when you can’t figure out who owns it because the original mortgage is part of a derivatives package that has been sliced and diced so many ways that its legal ownership is often unrecognizable?The Titanic that is the U.S. housing market has just sprung its biggest leak. Dig deeper ( 3 Min. Read )

No Moratorium on Foreclosures

Staff / Truthdig Oct 12, 2010 The Obama administration isn't ready to help homeowners stay in their homes by imposing a moratorium on repossessions, even though some banks are stopping foreclosures and resales of foreclosed homes and concerns about mortgage fraud are growing. Dig deeper ( 1 Min. Read )

Too Big to Fail, Except Online

Staff / Truthdig Sep 16, 2010 JPMorgan Chase is America's second biggest bank, further fattened from gobbling up the carcasses of Bear Stearns and Washington Mutual, so it stands to reason that millions of Americans have been inconvenienced by the inexplicable meltdown of the company's website. Dig deeper ( 1 Min. Read )

Fed’s Second in Command to Step Down

Staff / Truthdig Mar 1, 2010 The Federal Reserve's vice chairman, Donald L. Kohn, is ready to leave the building. Providing what could be a substantial opportunity for the Obama administration to change the central bank's course, Kohn announced Monday that he'll retire June 23, the official end date of his four-year term at the Fed. Dig deeper ( 1 Min. Read )

Wall Street Fat Cats Revolt, Send Money to GOP

Staff / Truthdig Feb 8, 2010 In case it wasn't made perfectly clear in recent months how the American political system actually operates on its uppermost levels, here we have an object lesson to consider: Upset by the notion that the Obama administration might be working on regulating the financial industry next, some of Wall Street's bigwigs are now focusing their funding efforts on the GOP. Dig deeper ( 1 Min. Read )

Obama to Banks: It’s Payback Time

Staff / Truthdig Dec 15, 2009 On Monday at the White House, President Barack Obama reminded a group of big banking honchos (or "fat cats," as he called them Sunday) about last year's bailout and advised them to get busy helping the taxpayers who helped with their recovery. Well, good luck with that one. Dig deeper ( 1 Min. Read )

Bank of America Set to Repay TARP Debt

Staff / Truthdig Dec 3, 2009 Bank of America has been cleared by the U.S. government to repay the $45 billion in TARP funds it received last year at the height of the banking crisis, and BofA may be preparing to do so before 2009 comes to a close. That said, it's not a foregone conclusion that the transaction will take place this month, even though the company has some built-in motivation to quickly make good on its payback promise. Dig deeper ( 1 Min. Read )

TARP Turns Its Attention to Small Banks

Staff / Truthdig Oct 23, 2009 The government-run TARP program is preparing to shift its focus from large banks -- such as Citigroup, JPMorgan Chase and Bank of America -- to smaller banks, noting that small businesses are still struggling to get access to credit. Dig deeper ( 1 Min. Read )

When They Call, Geithner Answers

Staff / Truthdig Oct 8, 2009 It's unsurprising to say the least: A Freedom of Information Act request has discovered that Treasury Secretary Timothy Geithner is in daily two-way communication with a small group of Wall Street CEOs -- at Citigroup, JPMorgan, Goldman Sachs -- while lawmakers like Rep. Xavier Becerra are forced to leave messages for him. Dig deeper ( 1 Min. Read )