April 19, 2009

Goldman Sachs And “The Club”: Masters Of The Universe

Blankfein. Steel. Thain. Paulson. Kashkari. Right Soup readers know that I spent my first working decades in the viper pit of Wall Street; my formative years were at the recently slain (some say by Goldman Sachs) Goliath Bear Stearns. Anyone who has spent any time at all in my former profession knows what “Goldman Sachs […]

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March 21, 2009

Obama Tells 60 Minutes He Won’t Accept Geithner’s Resignation

Spoiler alert: tomorrow night on CBS’s 60 Minutes Obama declares he would not accept Treasury Secretary Tim Geithner’s resignation if it was offered, according to excerpts from the television interview to be broadcast on Sunday. (The interview was taped yesterday.) Obama said he would tell Geithner: “Sorry buddy you’ve still got the job.” Not any […]

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January 22, 2009

Tennessee Senator Bob Corker Urges President, Congress To Admit US Banks Are Insolvent

Sen. Bob Corker (R-TN), rose to speak on the floor of the Senate yesterday on the stimulus package. His message was simple: Our banking system is insolvent, and until that is dealt with, no amount of money we put into the system will work. While Corker is a staunch fiscal conservative, ideologically opposed in general […]

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January 21, 2009

Timothy Geithner: A Simple Mistake?

The election is over. The transition has proceeded. The massively expensive ceremony was beautiful. I admit, Obama can speak quite eloquently. But a presidency is more than just ceremony and oratory. There are actions to be taken, and positions that need to be filled. Today brings the hearing for Obama’s choice to run our Treasury […]

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January 19, 2009

Are We Going To Sit On Our Hands?

The TRUTH From The Ticker: This is from today, in it’s entirety. Remember this as you watch the $170 million dollar Obamabash tomorrow. Quake in your boots as you realize Tim Geithner, who can’t do his own taxes right, will most likely be the next Jack Sparrow of the Treasury. Any premise that the “global […]

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January 13, 2009

Geithner On The Hot Seat For Employing Illegal Housekeeper & Fudging His Own Taxes

Senate Finance Committee Chairman Max Baucus (D-MT) reportedly called for an emergency meeting for committee members inside his office Tuesday. The problem? The disclosure by Obama Treasury Secretary appointee Timothy Geithner earlier in the day that he had failed to pay $34,000 in taxes from 2001 to 2004. Oops. Disgustingly, Senator Judd Greg (R- NH) […]

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January 4, 2009

Shariah Law Gets A Bailout

My dear Right Soup readers, you’d best sit down, as this one will likely mash your “outrage” button with astounding force. Last month, insurance giant AIG got $153 billion in taxpayer-funded bailout funds…because we were told if AIG failed, the sky would fall. Well guess what? At the same time it was getting the cash, […]

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December 22, 2008

Banks Refuse To Give Specifics On How They Spent Bailout Funds

Sad to say, but this horse has left the barn, and we taxpayers have little chance of it coming back. We’ve been loudly ringing the bell on the bailout here at Right Soup, so it’s no shock to us that the well-connected bankers who’ve received incredible amounts of our tax dollars via the TARP to […]

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December 4, 2008

Phantom Bonds And CDs: How Wall Street Is Screwing The Government

Source: Susan Trimblath, P.h.D The “credit crisis” is largely a Wall Street disaster of its own making. From the sale of stocks and bonds that are never delivered, to the purchase of default insurance worth more than the buyer’s assets, we no longer have investment strategies, but rather investment schemes. As long as everyone was […]

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December 3, 2008

Audit of $700B Financial Services Bailout Has Lawmakers Seething

Lawmakers on the Hill are not happy with the Treasury Department’s execution of the $700 billion financial industry bailout plan after the first comprehensive report on the rescue package found more oversight was needed. Shocker! The report was released yesterday. Today, House Republicans warned Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke today […]

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