U.S. Treasury
Timmy’s Big Week
U.S. Treasury secretary Timothy Geithner had a very big week. In February, the panicked American public and their clueless representatives in Congress saw a timid and overwhelmed Geithner fumbling and bumbling his way through a vaguely defined plan to rescue the banking system from all of the toxic securities purchased – with borrowed funds – [...]
Feds Toss More Money Down AIG Hole
American International Group (AIG) made history this week by declaring a $61.7 billion loss for the fourth quarter of 2008. That equates to $22.95 per share, compare that to a stock price of less than a buck, (it was quoted at $0.34 today) and one can see the absurdity of our nation’s current financial situation. [...]
Gathering Clouds Set to Deluge Soggy Economy
The clouds forming over the McMansion-filled American landscape are getting darker by the moment. I’m not even talking about the dismal consumer confidence readings, plummeting retail sales and mounting job loses – these clouds have been with us for a while now. The new, darker vapor formations are emanating from Washington D.C. and the international [...]
Treasury Department Needs P.R. Help Now!
The U.S. Treasury should hire a competent public relations firm and send Neel Kashkari, the department’s rude, abrasive Bailout Czar to charm school. According to the NY Post, America’s newest czar gave a Putin-like performance during a brief question and answer session after he delivered the keynote speech at a Midtown Manhattan conference packed with [...]
AIG Gets More of Your Money
What the hell is going on with American International Group(AIG)? First the U.S. government tossed the embattled insurance giant an $85 billion credit line in September – when it decided to let Lehman Brothers file for bankruptcy – and that was increased by $38 billion last month. The spiraling cost of the AIG bailout seems [...]
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