While announcing limits on lobbyists in departments of the new presidential adminstration, the Secretary of Treasury and tax cheat Geithner hires a Goldman Sachs banking lobbyist. The lobbyist/government/industry revolving door continues to fleece average Americans.
http://www.nytimes.com/2009/01/28/business/economy/28lobby.html?_r=1&scp=1&sq=Geithner%20Sets%20Limits%20on%20Bank%20Lobbying&st=cse
The new Treasury secretary, Timothy F. Geithner, announced on Tuesday that he would crack down on lobbying to influence the $700 billion financial bailout program by companies that are receiving billions in taxpayer money.
Mr. Geithner, who was confirmed on Monday, also said he would set new limits intended to prevent political interference with decisions about which companies received bailout money.
http://online.wsj.com/article/SB123309702282121649.html
The new chief of staff to Treasury Secretary Timothy Geithner was a top lobbyist for Goldman Sachs Group Inc. until last year, and will have to recuse himself from some government duties under new White House ethics rules.
Friday, January 30, 2009
Tuesday, January 27, 2009
Citigroup's New Jet
Citigroup is fresh from the feeding trough of TARP taxpayer money and is buying a new corporate jet. Where is the outrage?
http://www.nypost.com/seven/01262009/news/nationalnews/just_plane_despicable_152033.htm
JUST PLANE DESPICABLE
STILL 'HIGH' ON THE HOG: Citigroup, fresh off its $45 billion rescue, is going ahead with the purchase of a Dassault Falcon 7X.
Beleaguered Citigroup is upgrading its mile-high club with a brand-new $50 million corporate jet - only this time, it's the taxpayers who are getting screwed. ...
http://www.nypost.com/seven/01262009/news/nationalnews/just_plane_despicable_152033.htm
JUST PLANE DESPICABLE
STILL 'HIGH' ON THE HOG: Citigroup, fresh off its $45 billion rescue, is going ahead with the purchase of a Dassault Falcon 7X.
Beleaguered Citigroup is upgrading its mile-high club with a brand-new $50 million corporate jet - only this time, it's the taxpayers who are getting screwed. ...
Sunday, January 25, 2009
UK Banks Hours From Collapse
http://www.dailymail.co.uk/news/article-1127278/Revealed-Day-banks-just-hours-collapse.html details how the UK banking systems was a few hours from shut-down last in October 2008.
What about the Federal Reserve's lines of credit with the Bank of England. Can we please have transparency in America?
Revealed: Day the banks were just three hours from collapse
By Glen Owen
Narrow escape: The Bank of England was forced to contact RBS's creditors abroad to persuade them not to withdraw their funds
Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown's Ministers has revealed.
City Minister Paul Myners disclosed that on Friday, October 10, the country was 'very close' to a complete banking collapse after 'major depositors' attempted to withdraw their money en masse.
The Mail on Sunday has been told that the Treasury was preparing for the banks to shut their doors to all customers, terminate electronic transfers and even block hole-in-the-wall cash withdrawals.
Only frantic behind-the-scenes efforts averted financial meltdown.
If the moves had failed, Mr Brown would have been forced to announce that the Government was nationalising the entire financial system and guaranteeing all deposits. ...
What about the Federal Reserve's lines of credit with the Bank of England. Can we please have transparency in America?
Revealed: Day the banks were just three hours from collapse
By Glen Owen
Narrow escape: The Bank of England was forced to contact RBS's creditors abroad to persuade them not to withdraw their funds
Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown's Ministers has revealed.
City Minister Paul Myners disclosed that on Friday, October 10, the country was 'very close' to a complete banking collapse after 'major depositors' attempted to withdraw their money en masse.
The Mail on Sunday has been told that the Treasury was preparing for the banks to shut their doors to all customers, terminate electronic transfers and even block hole-in-the-wall cash withdrawals.
Only frantic behind-the-scenes efforts averted financial meltdown.
If the moves had failed, Mr Brown would have been forced to announce that the Government was nationalising the entire financial system and guaranteeing all deposits. ...
Auditors Arrested
When will American "law and order" start arresting bank auditors like authorities in India? Does America have respect for the rule of law, or is American about private gains and socialized losses?
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5sa8Cqwaa_Q&refer=home
Price Waterhouse Auditors Arrested in Satyam Inquiry
By Harichandan Arakali and Saikat Chatterjee
Jan. 24 (Bloomberg) -- PricewaterhouseCoopers LLP’s Indian affiliate, the auditor of Satyam Computer Services Ltd., said two partners were arrested by police as authorities extended the nation’s largest fraud inquiry.
Srinivas Talluri and S. Gopalakrishnan were remanded to judicial custody on charges of “conspiracy and co- participation,” A. Shivanarayana, a police spokesman in Andhra Pradesh state, said from the province’s capital Hyderabad, where Satyam is based. ...
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5sa8Cqwaa_Q&refer=home
Price Waterhouse Auditors Arrested in Satyam Inquiry
By Harichandan Arakali and Saikat Chatterjee
Jan. 24 (Bloomberg) -- PricewaterhouseCoopers LLP’s Indian affiliate, the auditor of Satyam Computer Services Ltd., said two partners were arrested by police as authorities extended the nation’s largest fraud inquiry.
Srinivas Talluri and S. Gopalakrishnan were remanded to judicial custody on charges of “conspiracy and co- participation,” A. Shivanarayana, a police spokesman in Andhra Pradesh state, said from the province’s capital Hyderabad, where Satyam is based. ...
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