Friday, November 05, 2010

Sunday, October 24, 2010

Thursday, June 17, 2010

Wednesday, April 14, 2010

WaMu Bank Failure


Senate Committee Homeland Security & Governmental Affairs | Investigations

Panelists testified on the role of high risk mortgages, focusing on Washington Mutual Bank (WaMu), which was the nation’s largest thrift with more than $300 billion in assets, $188 billion in deposits, and 43,000 employees. Bank officials testified about events that led to the bank's failure, business and accounting practices, and the role of federal regulation. This hearing was the first of a series of hearings the subcommittee held on Wall Street and the 2008 financial crisis.




Wednesday, April 07, 2010

vanity fair via HuffPo

Recently Vanity Fair editor Graydon Carter and [Vanity Fair] contributing editor Michael Lewis sat together onstage in front of an intimate crowd at the Museum of Modern Art in New York City and discussed Lewis’s new book, The Big Short: Inside the Doomsday Machine, which tackles the question of what caused the U.S. economy to tank. (It was excerpted in the April issue.)

Among those who attended the event were writers Tom Wolfe and Gay Talese, New York City police commissioner Ray Kelly, and Time Inc.’s John Huey. Now you too can hear the entire conversation between Carter and Lewis—just click here. But be careful visiting that link. You will probably get sucked into Lewis’s hour-long talk, just as the House Republican book group became engrossed in a lecture Lewis gave about the financial collapse.
“I was supposed to be there for an hour,” says Lewis in the clip above, referring to his visit with the Hill staffers. “I was there for almost three. And nobody left. And their questions were increasingly: ‘Oh my God, Goldman Sachs did what? A.I.G. did what?’ They didn’t understand it ... The minute they started to understand, they were outraged. And I think the more things are explained, the more outraged people will get.”

Thursday, March 25, 2010

Armageddon? Repeal?


Fox's Shepard Smith interviews Michael Steele. Really? Armageddon? Really?

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GOP plans to campaign on repeal of HCR?

~ 24:00

soundbite (tpm)

"Now that we passed it, they're already promising to repeal it. They're actually going to run on a platform of repeal this November," Obama said. "And my attitude is, 'Go for it.'"

"If they wanna have that fight, we can have it," he went on. "Because I don't believe the American people are gonna put the insurance industry back in the driver's seat. We've already been there, we're not going back. This country's moving forward."

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flash forward:
CBS via TPM April 2011:

Monday, March 22, 2010

Healthcare Reform

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3.22.2010 t-bus Obama!

6.28.2012 ACA upheld by US Supreme Court

Monday, March 15, 2010

Senate Banking


Sen. Chris Dodd (D-Conn.) on Monday unveiled a sweeping financial regulatory reform bill designed to prevent future Wall Street bailouts and to protect borrowers with a Consumer Financial Protection Bureau housed at the Federal Reserve.
During a press conference at the Capitol, the chairman of the Senate Banking Committee emphasized the need for consumer protection, adding that the financial crisis and resulting recession were caused by predatory lending.
"The root cause of our economic crisis was a lack of consumer protection," Dodd said, emphasizing that the current regulatory structure is "hopelessly inadequate."

more ...


Dodd Financial Reform Proposal (March 2010 Update) -

Monday, March 08, 2010

The Revision Thing

RB @drewconway

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Charges and Counter-Charges: Did Bush Knowingly Lead the U.S. into War with Iraq?
David Corn 3.30.2010

Thursday, February 25, 2010

not campaigning

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wonkroom on 'reconciliation' [w]

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John McCain

longer version huffpo

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John Boehner

During a segment of the meeting devoted to cost control and federal entitlements, John Boehner instead trotted out just about every single GOP scare story about the bill - insisting it was a government takeover, calling it a massive bureaucratic mess, and even remarking about the number of pages in the legislation.

Coming after a fairly substantive policy debate, and having literally nothing to do with the point of the conversation, [Boehner's] diatribe evidently struck the president as a cheap shot and distraction.

And he responded by essentially putting Boehner on time out, telling him he'd get to his concerns after class.
John, you know, the challenge I have here, and it happens periodically, is every so often we have a pretty good conversation trying to get on some specifics, and then we go back to, you know, the standard talking points that the Democrats and Republicans have had for the last year. And that doesn't drive us to an agreement on issues.

There are so many things you just said that people on this side would profoundly disagree with and I would have to say based on my own analysis just aren't true that I think the conversation would start bogging down pretty quick.

Now, we were trying to focus on the deficit issue and the fact of the matter is, as we indicated before, according to the Congressional Budget Office this would reduce the deficit. [Rep.] Paul [Ryan, (R-Wisc.)] has different ideas about it. Other folks might think there are better ways of doing it. But right now what we are focusing on is the issue of federal entitlements and whether we can make some changes.

I will come back to you, I think, at the end of this session to answer the range of questions you just asked.

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An open letter to President Obama.

Carnival Games

The Daily Show With Jon StewartMon - Thurs 11p / 10c
Summit's Eve
Daily Show
Full Episodes
Political HumorVancouverage 2010

tpm liveblog ...

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Monday, February 22, 2010


Michael Smerconish, "For Me the Party is Over"

.... Collegiality is nonexistent today, and any outreach across an aisle is castigated as weakness by the talking heads who constantly stir a pot of discontent. ... All of which leaves homeless those of us with views that don't stack up neatly in any ideological box the way we're told they should.
I think President Obama is earnest, smart, and much more centrist than his tea party caricature suggests. He has never been given a fair chance to succeed by those who openly crow about their desire to see him fail (while somehow congratulating one another on their relative patriotism). ... I'm not folding the tent on him. Not now. Not with the nation fighting two wars while its economy still teeters on the brink of collapse.

All of which leaves me in a partisan no-man's-land, albeit surrounded by many others, especially my neighbors. By quitting the GOP, I have actually joined the largest group of American voters.

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cf. Ranking Conservatives 2007.06.17

Sunday, February 21, 2010

Bob Schieffer interviews Colin Powell

Face the Nation via huffpo

Dick Cheney's charges that the country is less safe because of the way Barack Obama has handled national security matters don't hold water, former Secretary of State Colin Powell said Sunday. "To suggest that somehow we have become much less safe because of the actions of the administration, I don't think that's borne out by the facts," Powell said on CBS's "Face the Nation."

Powell pointed out that Obama has kept in place most of the programs enacted by the Bush administration. "The Transportation Security Administration created by George Bush is still in action working in our airports," Powell told host Bob Schieffer. "They take care of me every day that I go to an airport."

The Office of the Director of National Intelligence was also created under President Bush, "and it is still under President Obama, working hard," Powell continued. "Our counterterrorism authorities and forces are hard at work. Our law enforcement officials are hard at work. We have gone after the enemy in Afghanistan with 50,000 more troops, more predators are striking al-Qaida and Taliban leaders in Pakistan. We have continued the policies that President Bush put in place with respect to Iraq. And so I don't know where the claim comes that we are less safe."

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flashback 2008.10.19

Wednesday, February 17, 2010

Elder Law

Published: February 16, 2010

Put aside for a moment the populist pressure to regulate banking and trading. Ask the elder statesmen of these industries — giants like George Soros, Nicholas F. Brady, John S. Reed, William H. Donaldson and John C. Bogle — where they stand on regulation, and they will bowl you over with their populism.

They certainly don’t think of themselves as angry Main Streeters. They grew quite wealthy in finance, typically making their fortunes in the ’70s and ’80s when banks and securities firms were considerably more regulated. And now, parting company with the current chieftains, they want more rules.

While the younger generation, very visibly led by Lloyd C. Blankfein, chief executive of Goldman Sachs, lobbies Congress against such regulation, their spiritual elders support the reform proposed by Paul A. Volcker and, surprisingly, even more restrictions. “I am a believer that the system has gone badly awry and needs massive reform,” said Mr. Bogle, the 80-year-old founder and for many years chief executive of the Vanguard Group, the huge mutual fund company.

Mr. Volcker, 82, signed up the support of nearly a dozen peers whose average age is north of 70 and whose pedigrees on Wall Street and in banking are impeccable. But while Mr. Volcker focuses on a rule that would henceforth prohibit a bank that takes deposits from also buying and selling securities for its own account — risking losses in the process — most of his prominent supporters see that as a starting point in a broader return to regulation. And most do not hesitate to speak up in interviews.

... more

Friday, January 29, 2010

Obama: Ixnay on the Olshevik-Bay


Speaking to House Republicans at their retreat in Baltimore today, President Obama expressed frustration with the argument that the Democrats' health care reform effort is creeping socialism. Obama pointed to support from people such as former Senate Majority Leaders Bob Dole and Howard Baker, plus former Democratic Senate Majority Leader Tom Daschle, and insisted that the proposed reforms have more moderate goals than some GOPers contend.

"Now you may not agree with Bob Dole and Howard Baker, and certainly you don't agree with Tom Daschle on much, but that's not a radical bunch," said Obama. "But if you were to listen to this debate, and frankly how some of you went after this bill, you'd think that this thing was some Bolshevik plot."
"We've got to close the gap between the rhetoric and the reality."
Watch the video:

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HuffPo: full video / text of Obama's remarks to House GOP Retreat in Baltimore

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flash forward (post-passage) 3.24.2010 Anthony Weiner (D-NY) to Bill O'Reilly:
"You've really got to stop making things up about the bill."

Friday, January 22, 2010