Timothy Geithner

Krugman: Administration has "squandered" the mandate of heaven

In a column which oddly, or not, doesn't mention the President by title or by name, Krugman concludes:

The gist of the [TARP inspector general's AIG bailout] report is that government officials made no serious attempt to extract concessions from bankers, even though these bankers received huge benefits from the rescue. ...

For the A.I.G. rescue was part of a pattern: Throughout the financial crisis key officials — most notably Timothy Geithner, who was president of the New York Fed in 2008 and is now Treasury secretary — have shied away from doing anything that might rattle Wall Street. ....

CBC makes "progressives" look like the sellouts they are

Ryan Griffin in HuffPo, yeah yeah:

A bloc of African American House Democrats, angry and worried that not enough is being done about high unemployment by the administration, forced the postponement of a much-anticipated vote Thursday on comprehensive financial regulation reform.

And "progressives" couldn't do the same thing on health care why, exactly?

Wells Fargo's Bust Out Profit Model

It's a bust out, quite literally, supported by your bailout dollars:*

"Executives at Schwing said its primary lender, Wells Fargo & Co., began tightening terms a year ago, after its three-year loan agreement with the company expired. At the bank's urging, Schwing paid down its line of credit with the bank to $21 million from about $45 million. Then, about two months ago, Wells Fargo began "sweeping" Schwing's operating account of cash in an effort to reduce its revolving line of credit with the company. Schwing had a 20 year relationship with Wells Fargo.