Posts Tagged ‘bailout’

The USA of I.O.U.

The USA of I.O.U.

By The Banker | Blog Posts, Wall Street

Every once in a while I read a finance article that sticks in my head and never goes away.  An article about the historical intersection of debt and the United States from the New Yorker from four years ago by Jill Lepore is just one of these.[1] The USA of IOU Jill Lepore’s article explains [&hellip

Book Review: Bailout; An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street

Book Review: Bailout; An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street

By The Banker | Book Reviews

If every novel or Hollywood movie starts with either the premise of “A Man Walks Into a Town” or “A Man Goes On a Journey,” Bailout by Neil Barofsky begins with the former.  Neil Barofsky plays the leading Jimmy Stewart hero role in this modern update to Mr. Smith Goes To Washington. In late 2008, [&hellip

The Citigroup Bailout - SIGTARP Part III

The Citigroup Bailout – SIGTARP Part III

By The Banker | Blog Posts, Wall Street

We love to criticize the wastefulness of bureaucracy, the agency ass-covering, and the naiveté of government officials.  But it’s a surprising pleasure to read[1] The SIGTARP [2]  review of the government’s response to Citigroup’s near-death experience and its bailout in the Fall of 2008. Here we have a US Treasury position created for the purpose [&hellip

In Praise of SIGTARP, Norse God of Financial Accountability

In Praise of SIGTARP, Norse God of Financial Accountability

By The Banker | Blog Posts

“…But in 2012, the people became restless.  They mistrusted the 1% who lived far away in beautiful, unattainable, icy Jotunheim. And the people quarreled amongst themselves.  They could not agreehttp://www.bankers-anonymous.com/wp-admin/admin.php?page=wpcf7 with one another or keep the peace.  The people were the 99%, and they divided into warring ideological camps, visiting bloody internecine raids upon the [&hellip