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The White House Stands Behind Geithner, Says Tim Was Not Involved In AIG Email Fiasco is the headline of a recent post at Zero Hedge. Barack Obama is standing behind Tim Geithner. I remain unconvinced.
This is the second time Secretary Geithner has done his “A Few Good Men” routine; and, judging from the uniformly negative [...]

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In handwriting:

Note that there should be no discussion or suggestion that AIG and the NY Fed are asking to structure anything else at this point.

It will be enlightening to hear him explain what this statement means. See also Tim Geithner "Protects America From Itself" By Forcing Elimination Of Material AIG Disclosure at Zero Hedge. There [...]

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The latest piece of big news in the sovereign debt crisis comes, remarkably, from Iceland. The country collapsed into depression after its experiment as an open economy with a large banking sector went pear shaped.
After a debt-fuelled boom and a huge influx of hot money due to high interest rates, its currency and banks collapsed [...]

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I want to talk about the drubbing the Democrats are going to take in this year’s elections and what it means, if anything.  As a sort of pre-amble, I will lead into this with some thoughts on tax cut propaganda and today’s piece by the conservative Reuters columnist James Pethoukoukis called The campaign against Larry [...]

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As a writer, Matt Taibbi is a lot more vitriolic than I am. He curses, makes some pretty over-the-top personal attacks, and divines a policymaker’s intent where I don’t think he can. But, this goes mostly to style.  Substantively speaking, he has a lot to say and we should take notice. 
I wanted to highlight [...]

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Hat tip Prieur du Plessis.

Source
Chip Bok, 28 Dec 2009 – Comics.com

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You kind of saw this coming didn’t you. Asians remember the Depression that began there a decade ago all too vividly. Many still see the West to blame because of the draconian economic policy solutions meted out by the IMF, including now-US Treasury Secretary Tim Geithner amongst others.
Incongruously, the very same Tim Geithner of [...]

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From Bloomberg:
GMAC Inc., the home and auto lender, is discussing with the Obama administration an additional aid package of about $3 billion to $4 billion, according to a person familiar with the matter.
The size of the assistance remains under negotiation, the person said on condition of anonymity because the talks are private. A deal may [...]

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The New York Times points out that zero percent interest rates are not designed for savers. They are a tax on savers, especially the elderly living on a fixed income.
Millions of Americans are paying a high price for a safe place to put their money: extremely low interest rates on savings accounts and certificates of [...]

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As we head into the New Year, I am trying to look back at the last one with some semblance of a coherent interpretation of events that leads to a strategic vision of the future.  I have already touched on stimulus, kleptocracy and crony capitalism as dominant themes for the year 2009. 
These posts have [...]