Did you buy a house in good faith, at the peak of prices, only to see the value of that house collapse when the housing market collapsed? Would you like to know why house prices skyrocketed and then collapsed? Are you upside-down in your house? Maybe you are concerned about losses incurred by your retirement [...]
An Examination of Available Data, Part 2: How Did TARP Get Repaid, and Where Did All Those Bonuses Come From?
In our previous post we began a report on how the Fed is using its balance sheet to protect TBTF banks and their investors. Now let's dig a little deeper into data recently pried out of the Fed by CONgress, under pressure from...us. Here's another must-read piece, at EconomicPolicyJournal.com, which tracks the bailout of Goldman [...]
What a difference a little disclosure makes. For the remainder of this article, remember this timeline: Bear Stearns crisis, March, 2008. Lehman Brothers bankruptcy, September 15, 2008. TARP, October 3, 2008. AIG Financial Products taken over by Fed and given $85 Billion loan: September 16, 2008. Wikileaks brings us this information via U.K. Guardian from [...]