Archive for citigroup
Real Scandal
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Politico had over 90 stories last week about the Herman Cain sexual harassment allegations. It’s still unclear just what is being alleged but it doesn’t appear to include pulling down his pants and ordering a subordinate to “kiss it”. That would be the charge against President Bill Clinton from about the same era.
Oddly, women’s groups swarmed to the defense of the “lovable rogue” and, after being impeached, he weathered the storm – minus his Arkansas law license.
None of us, however (at least not the 99%), weathered the storm caused by another scandal with racial overtones. Paul Sperry reported in IBD, how Clinton pressured financial institutions to make home loans to the un-creditworthy. Meanwhile, MSN Money quotes David Weidner, of Marketwatch, saying Clinton’s biggest mistake was the repeal of Glass-Steagall.
Business Week reported this week that, after stating a $4.4 billion loss for the third quarter, Freddie Mac will seek an additional 6 billion dollar bail-out from taxpayers.
Like to Watch
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The 2,300 page Dodd-Frank financial bill passed yesterday. Only 3 republicans voted for it. The rest hope the voters hate Congress even more than they hate Wall Street.
Nobody knows how it will work – Chris Dodd says so. We do know there’s nothing in the bill about Fannie Mae or Freddie Mac. They’re not part of the problem – Barney Frank (scroll to 43.) says so.
Meanwhile, a Justice Department lawyer, Christian Adams, resigned his post. He was unhappy the department dropped his voter intimidation case against two New Black Panthers, one of whom was a certified poll watcher.
Short Shorts
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Holman Jenkins says the subtext of yesterday’s Senate panel grilling was that it’s unpatriotic not to lose money when home values plummet.
