President Obama wants new taxes on banks

Let’s see now, what is that old saying? Something about honesty being good for the soul. If that’s the case, then my soul should be in pretty good shape after this post. That is unless the mixed feelings get in the way because my feelings about new taxes are very mixed.
First of all, I have [...]

Derivative trading regulations

I have to admit, this article covers a topic about which I know very little. I suppose you could say I am looking for someone to educate me on the subject. Have you ever heard of derivative trading? I didn’t have a clue what it was until sometime last year. You know, when all things [...]

House begins work on overhaul of financial regulation

Let’s see now, Congress hasn’t even finished work on health care reform and now the House of Representatives is taking up another issue that has been a priority of President Obama. In my opinion, one of the main reasons Obama won the election against John McCain was the complete and total meltdown of the financial [...]

Obama’s attack on Detroit

The news from the weekend and then on Monday has been dominated by the announcement by the Obama administration that there would be no more chances for General Motors and Chrysler. I have already raised the question and asked why the Detroit automakers didn’t deserve the same bailouts that have been extended to companies such [...]

AIG bonuses to be taxed to death

Congress never ceases to amaze me at how inept they can be at times. At the risk of beating a dead horse, let’s visit the AIG bonuses once again. It appears that the bonuses in question sort of slipped through the cracks and nobody seems to be willing or able to tell us how it [...]

CNN’s Campbell Brown on Chris Dodd and the Treasury Department

This is one of those news stories that just keeps getting bigger and bigger. The public furor over the bonuses to AIG has been very loud, but it looks like AIG isn’t the only one at fault here. I don’t normally post a lot of video, but this post has two embedded for the simple [...]

AIG to reimburse $165 million to taxpayers

I realize the last three articles I have posted have been about the bonuses that were paid out by AIG to the employees of their Financial Products subsidiary, but it bears at least one more article.
As I was driving home yesterday, not having listened to the news all day, I heard ABC News telling how [...]

Andrew Cuomo subpoenas AIG

I don’t really find this news surprising, but New York Attorney General Andrew Cuomo has came to the same conclusion that a lot of other people have reached. The recipients of the the $165 million in bonuses from AIG need to be made public. The difference between Andrew Cuomo and the rest of us is [...]

Bailout recipients slow to release information

Back in December 2008, I wrote an article that discussed how the original $700 billion was given to the banks and other companies and no strings were attached as to how the money should be spent. At that time, most of the recipients of the bailout were simply refusing to disclose how they were spending [...]

AIG is still giving bonuses

This is another one of those “someone will have to explain this to me” stories. If you haven’t heard of American International Group or AIG by now, then you haven’t been paying attention for the past several months. AIG made big news when the federal government first supplied them with $85 billion in September 2008 [...]

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