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    whatever happened to a.i.g. freezing executive bonuses

    and clawing back those they’d already paid out? From October 22, 2008:

    NY AG says targeting exec pay at AIG, elsewhere

    NEW YORK (Reuters) – Troubled insurer American International Group Inc will freeze payments to a former CEO and officers of the unit that was the main source of its financial problems, New York Attorney General Andrew Cuomo said on Wednesday.

    “This is to [...]



    Why Isn’t Simon Johnson the Treasury Secretary?

    This is the most succinct explanation I have come across of where we are at and of what to do with regard to the financial crisis affecting our country.  I hope Obama and Congress are listening.  From Bill Moyers Journal (you can watch the video here):

    February 13, 2009

    BILL MOYERS: Welcome to the Journal.

    The battle is joined as they [...]



    ratcheting up the pressure

    I assume these recent speeches by Obama are intended to publicly call out Blue Dogs and Senate Republicans to get along and go along once the Economic Plan is presented. From today’s speech at George Mason University:

    This crisis did not happen solely by some accident of history or normal turn of the business cycle, and we won’t get out of it by [...]



    $25 Billion for New Signs and Renovations

    WAMU logo

    Ever since my favorite local bank, Washington Mutual (I know it is not a local bank) was taken over by JP Morgan I have been wondering about how its new overlord would handle the name of the organization.  I was thinking that it could keep the Washington Mutual name since it has for me been a good bank and therefore [...]



    First You Were Against the Bailout Before You Were For It

    1936 Chrysler Airflow Series C-9

    These days I sometimes feel like I am living in a psychosis.  I have been absolutely opposed to the financial sector bailout from the beginning.  Our government freaked out and reacted poorly.  Too much money was approved with too little oversight for an industry that has become too big and monopolized for its britches.  I favor using government [...]



    Oops, Joe the Plumber has some Issues

    Noticed this comment to an article about poor Joe the Plumber over at OpEd News this morning:

    The crap is about to hit the fan…

    from a post:

    “John McCain did great tonight in the debate. But every time John mentioned “Joe the Plumber,” some of us in the campaign banged our heads against the wall. If Steve Schmidt had [...]



    Can’t afford a home? Here is $7500

    Part of the recent bailout bill includes a provision to allow a refundable tax credit of 10% of the home purchase price up to $7500 for new home buyers for purchases after April 9, 2008 and before July 1, 2009.  A “first-time”  home buyer is one that has not owned a home for three years prior to the purchase.  By the way, ownership [...]

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