Tags: Barney Frank + Deficit + Economy + Federal Reserve + financial reform + Geithner + Ginnie Mae + Treasury
The House and Senate versions of the financial reform legislation is in the reconciliation process to merge the two bills into one. The Fed and their lobbyists have already won no matter what the final version becomes. The single onerous provision remaining is for the GAO to audit the Fed’s monetary policy decisions, but since [...]
June 11, 2010 - Economy, Politics - 0 Comments
Tags: Deficit + Economy + GNMA + investing + Taxes + Treasury
President Obama’s independent commission set up to study what must be done to pair the US’s scary deficit situation has just announced that both taxes to raise revenue and cuts in spending are required and that everything must be on the table. Co-Chairman (R) Alan Simpson is quoted by Reuters as saying: “hell we could [...]
April 29, 2010 - Economy - 0 Comments
Tags: Bailout + Banks + Deficit + Geithner + Goldman Sachs + Greece + Lloyd Blankfein
Lloyd Blankfein, Goldman Sach’s CEO defended his firms practices saying he saw Goldman as doing “God’s Work.” Selling disguised subprime mortgages as AAA paper to pension plans and sovereign governments, devising camaflouge trades to mask debt and regulatory problems, holding out for the last dollar on AIG Credit Default Swaps to make profit on the [...]
March 4, 2010 - Politics - 0 Comments
Tags: Deficit + Deficit spending + Economy + Stimulus + Taxes + Tea Party + Treasury
Today the Governors Association will meet with President Obama to ask for help. State revenue coffers are empty are below budget given to the longevity of the Great Recession. For this fiscal budget year ending in October, despite deep cuts, states still are running deficits. And according to the Govenors’ survey fiscal years 2011 and [...]
February 22, 2010 - Economy - 0 Comments
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