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Left to right: J. Scott Applewhite/Associated Press; Kevin Lamarque/Reuters; Andrew Harrer/Bloomberg; Susan Walsh/Associated Press Should Republicans be willing to engage with these men? Full Article at The New York Times
The Ponzi scheme was based on the collateralized debt obligations (CDOs) in which the bankers traded and which AIG had insured with the credit default swaps (CDSs) that they sold but failed to back with adequate funding. Full Article at Truth Dig
Lawrence Summers (R), director of the White House's National Economic Council, answers a question during an interview with Maria Bartiromo (L) of CNBC at the Newseum in Washington October 2, 2009. View Photo »
The House Financial Services Committee took an historic step in this direction Thursday when it voted to bring previously unregulated derivatives under the regulatory umbrella
Excerpts from a talk by Phebe Eckfeldt from Boston at the WWP National Conference, Nov. 14. Full Article at Workers World Online
The phantom menace PAUL KRUGMAN COMMENTARY More News A funny thing happened on the way to a new New Deal. A year ago, the only thing we had to fear was fear itself; today, the reigning doctrine in Washington appears to be “Be afraid. Full Article at KansasCity.com
Nov. 24 (Bloomberg) -- When U.S. Treasury Secretary Timothy Geithner landed in Istanbul for a global economic summit on Oct. 2, his first meeting among the finance ministers and central bankers invited from more than 150 countries was with a man... Full Article at Bloomberg.com
Maria Bartiromo (L) of CNBC interviews Lawrence Summers (R), director of the White House's National Economic Council, at the Newseum in Washington, October 2, 2009. View Photo »
White House economic adviser Lawrence Summers said Monday that there were signs the U.S. economy was returning to normal, but he warned that 'major slack' remained and that weak demand would continue to crimp output
A funny thing happened on the way to a new New Deal. A year ago, the only thing we had to fear was fear itself; today, the reigning doctrine in Washington appears to be, "Be afraid. Be very afraid." What happened? Full Article at Sacramento Bee
A funny thing happened on the way to a new New Deal. A year ago, the only thing we had to fear was fear itself; today, the reigning doctrine in Washington appears to be “Be afraid. Be very afraid.” What happened? Full Article at Houston Chronicle
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Lawrence Summers (R), director of the White House's National Economic Council, answers a question during an interview with Maria Bartiromo (L) of CNBC at the Newseum in Washington October 2, 2009.
View Photo »Maria Bartiromo (L) of CNBC interviews Lawrence Summers (R), director of the White House's National Economic Council, at the Newseum in Washington, October 2, 2009.
View Photo »Ernersto Zedillio (L), former President of Mexico, Christina Fernandez de Kirchner (2nd from L), President of Argentina, Jan Peter Baikenede (C), Prime Minister of the Netherlands, Dominique Strauss-Kahn (2nd from R), Managing Director of the International Monetary Fund and Lawrence Sum...
View Photo »Vice President Joe Biden, and Economic Council Director Lawrence Summers, left, meet with members of the White House economic team to discuss the economic impact of the Recovery Act, Tuesday, Aug. 4, 2009, in the Roosevelt Room of the White House in Washington.
View Photo »Vice President Joe Biden, center, flanked by Economic Council Director Lawrence Summers, left, and Budget Director Peter Orszag, meets with members of the White House economic team to discuss the economic impact of the Recovery Act, Tuesday, Aug. 4,2009, in the Roosevelt Room of the Whi...
View Photo »WASHINGTON - JULY 17: National Economic Council Director Lawrence Summers (L), talks with Fred Bergsten Director of the Peterson Institute for International Economics after speaking on the topic of "Rescuing and Rebuilding the U.S. Economy: A Progress Report," in a speech July 17, 2009...
View Photo »WASHINGTON - JUNE 25: U.S. Secretary of the Treasury Timothy Geithner (3rd L) speaks as Commodity Futures Trading Commission Chairman Gary Gensler, Federal Deposit Insurance Corporation Chairman Sheila Bair, Securities and Exchange Commission Chairman Mary Shapiro, Director of the Nati...
View Photo »WASHINGTON - JUNE 25: U.S. Secretary of the Treasury Timothy Geithner (3rd L) speaks as Commodity Futures Trading Commission Chairman Gary Gensler, Federal Deposit Insurance Corporation Chairman Sheila Bair, Securities and Exchange Commission Chairman Mary Shapiro, Director of the Nati...
View Photo »WASHINGTON - JUNE 25: U.S. Secretary of the Treasury Timothy Geithner (3rd L) speaks as Commodity Futures Trading Commission Chairman Gary Gensler, Federal Deposit Insurance Corporation Chairman Sheila Bair, Securities and Exchange Commission Chairman Mary Shapiro, Director of the Nati...
View Photo »WASHINGTON - JUNE 19: Director of the National Economic Council Lawrence Summers walks on the South Lawn during an event hosting young men from local schools June 19, 2009 at the White House in Washington, DC.
View Photo »WASHINGTON - JUNE 19: Director of the National Economic Council Lawrence Summers walks on the South Lawn during an event hosting young men from local schools June 19, 2009 at the White House in Washington, DC.
View Photo »Director of the National Economic Council Lawrence Summers (L) talks with U.S. Federal Reserve Board Chairman Ben Bernanke as they wait in the East Room of the White House in Washington for President Barack Obama's remarks laying out a comprehensive regulatory reform plan June 17, 2009.
View Photo »Lawrence Summers (C), director of national economic council, chats with Ben Bernanke, Chairman of the Board of Governors of the United States Federal Reserve, before US President Barack Obama speaks on the economy and comprehensive plan for financial regulations in the East Room at the...
View Photo »Lawrence Summers (L), director of national economic council, speaks with Ben Bernanke, Chairman of the Board of Governors of the United States Federal Reserve, before US President Barack Obama speaks on the economy and comprehensive plan for financial regulations in the East Room at the...
View Photo »WASHINGTON - JUNE 17: U.S. Federal Reserve Chairman Ben Bernanke waits for President Barack Obama to speak on his administration's plan on regulating the financial system in the East Room June 17, 2009 at the White House in Washington, DC.
View Photo »WASHINGTON - JUNE 17: Director of the National Economic Council Lawrence Summers (L) waits with U.S. Federal Reserve Chairman Ben Bernanke (R) for President Barack Obama to speak on his administration's plan on regulating the financial system in the East Room June 17, 2009 at the White...
View Photo »WASHINGTON - JUNE 17: Director of the National Economic Council Lawrence Summers (L) waits with U.S. Federal Reserve Chairman Ben Bernanke (R) for President Barack Obama to speak on his administration's plan on regulating the financial system in the East Room June 17, 2009 at the White...
View Photo »FILE - In this June 17, 2009 file photo, Federal Reserve Chairman Ben Bernanke, right, holds a copy of the outlined reforms as he sits next to Director of National Economic Council, Lawrence Summers, right, as they wait for President Barack Obama to deliver remarks on the new comprehens...
View Photo »Federal Reserve Chairman Ben Bernanke, right, holds a copy of the outlined reforms as he sits next to Director of National Economic Council, Lawrence Summers, right, as they wait for President Barack Obama to deliver remarks on the new comprehensive regulatory reform plan, Wednesday, Ju...
View Photo »WASHINGTON - JUNE 2: White House economic advisor Lawrence Summers (C) and Nancy-Ann DeParle (R), Counselor to the President and Director of the White House Office of Health Reform talk while Office of Management and Budget Director Peter R. Orszag (L) speaks during a meeting in the Ei...
View Photo »WASHINGTON - JUNE 01: U.S. President Barack Obama (R) speaks about the Chapter 11 bankruptcy filing by General Motors as (L-R) Director of the National Economic Council Larry Summers, Edward Montgomery, White House director of Recovery for Auto Communities and Workers, Secretary of Lab...
View Photo »WASHINGTON - MAY 22: White House Chief Economic Adviser Larry Summers arrives in the Rose Garden before U.S. President Barack Obama signed the Credit Card Accountability, Responsibility, and Disclosure Act in the Rose Garden at the White House on May 22, 2009 in Washington, DC.
View Photo »WASHINGTON - MAY 20: U.S. President Barack Obama (3rd R) talks to GE CEO Jeffrey Immelt (2nd R) during a meeting with members of his Economic Recovery Advisory Board in the Roosevelt Room of the White House May 20, 2009 in Washington, DC.
View Photo »WASHINGTON - APRIL 30: Treasury Secretary Timothy Geithner (C), National Economic Council Chair Lawrence Summers and Office of Management and Budget Director Peter Orszag (R) listen to U.S. President Barack Obama address the bankruptcy of Chrysler at the the White House April 30, 2009...
View Photo »WASHINGTON - APRIL 30: U.S. President Barack Obama and members of his auto task force, including Treasury Secretary Timothy Geithner (L), National Economic Council Chair Lawrence Summers (2nd-L), Commerce Secretary Gary Locke (R) and Office of Management, Budget Director Peter Orszag (...
View Photo »Maria Bartiromo (L) of CNBC interviews Lawrence Summers (R), director of the White House's National Economic Council, at the Newseum in Washington, October 2, 2009.
View Photo »The House Financial Services Committee took an historic step in this direction Thursday when it voted to bring previously unregulated derivatives under the regulatory umbrella
White House economic adviser Lawrence Summers said Monday that there were signs the U.S. economy was returning to normal, but he warned that 'major slack' remained and that weak demand would continue to crimp output
Each percentage point of unemployment adds substantially to the government debt, subtracts from our capital stock and limits our human potential
I don't know what the term 'second stimulus package' exactly means ... We certainly need to continue to support people who are in need, whether it's unemployment insurance, or a COBRA program that for the first time provides that people who are laid off get supported in being able to maintain their heal...
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