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  • JPMorgan Chase goes for the (comedy) gold; crushed by guilt, former New York Fed chief and treasury secretary Tim Geithner retreats to a monastery

    Or something like that.

    After greasing the skids for Wall Street’s economic vandalism as head of the New York Federal Reserve Bank and then opening the national vaults to banksters and brokers as US treasury chief, Timothy Geithner is making his Wall Street employment official. The man who once boasted of “foaming the runway” for banks with the frothy remnants of liquefied former homeowners has accepted a job supervising the mailroom at private-equity giant Warburg Pincus, where he hopes to work his way to the top after gaining experience in the industry while avoiding charges of cashing in on his government service.
    Continue reading JPMorgan Chase goes for the (comedy) gold; crushed by guilt, former New York Fed chief and treasury secretary Tim Geithner retreats to a monastery

    The Obama justice department: never met a bigfoot badman they couldn’t work with

    The surprise in the Obama administration’s deal with London-based HSBC, the money-laundering enterprise moonlighting as the world’s third-largest bank, is that it came in the guise of a criminal prosecution. The bank has pleaded guilty to breaking some laws. Nobody who works or worked at the bank is guilty, though; just the corporate person, . . . → Read More: The Obama justice department: never met a bigfoot badman they couldn’t work with