Video: Mike Stark asks Bernanke if Citigroup is insolvent
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Brand new Washington Post op-ed from Geithner -- 3 of the the 5 supposed myths are actually quite true. Have fun with this one.
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The potential lawsuits would help the FDIC recover more than $1 billion it lost during the credit crisis, which has forced the FDIC to take over 294 lenders since 2008. So far the FDIC, which, according to Bloomberg, doesn't sue unless it believes the defendant is able to pay up, has only filed one lawsuit related to the credit crisis, against IndyMac executives in July.
After sending heads-up letters to potential targets of litigation, the FDIC has bared its claws. "We could walk into court tomorrow and file the lawsuits," FDIC general counsel Richard Osterman told Bloomberg. During the savings-and-loan crisis of the 1980s, the FDIC sued executives from more than 24 percent of the banks that failed.
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Bloomberg Video: Welch says Obama is 'unfriendly' to business -- Oct. 5
Who is Welch kidding? GE's FDIC bailout saved his financial services arse.
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Excerpt:
28 Oct. 1785
Papers 8:681--82 Seven o'clock, and retired to my fireside, I have determined to enter into conversation with you; this [Fontainebleau] is a village of about 5,000 inhabitants when the court is not here and 20,000 when they are, occupying a valley thro' which runs a brook, and on each side of it a ridge of small mountains most of which are naked rock. The king comes here in the fall always, to hunt. His court attend him, as do also the foreign diplomatic corps. But as this is not indispensably required, and my finances do not admit the expence of a continued residence here, I propose to come occasionally to attend the king's levees, returning again to Paris, distant 40 miles. This being the first trip, I set out yesterday morning to take a view of the place. For this purpose I shaped my course towards the highest of the mountains in sight, to the top of which was about a league. As soon as I had got clear of the town I fell in with a poor woman walking at the same rate with myself and going the same course. Wishing to know the condition of the labouring poor I entered into conversation with her, which I began by enquiries for the path which would lead me into the mountain: and thence proceeded to enquiries into her vocation, condition and circumstance. She told me she was a day labourer, at 8. sous or 4 d. sterling the day; that she had two children to maintain, and to pay a rent of 30 livres for her house (which would consume the hire of 75 days), that often she could get no emploiment, and of course was without bread.
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This is the meat paste that goes in your Chicken McNuggets.
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Bizarre new Glenn Beck home video discussing his health problems
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Video: Bill O'Reilly gets owned by Letterman on Iraq
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Video: Max & Stacy