In the beginning of March of last year Treasury Secretary Hank Paulson and Ben Bernanke saw the wheels were coming off the economy. The two scrambled to right the cratering Wall Street banks before Bear Stearns ever entered the headlines. Protestations from former Bear head Alan Schwartz that his firm was on solid ground until […]
Monthly Archives: October 2009
Oct. 31 – Halloween – is a scary day but not because of the costumes or black cats. The 31st of October is the end of the fiscal year for the US government. Once the fiscal year ends the books need to be produced and that’s what would make Nov. 2 even scarier, because that […]
Why is the dollar cratering? And why is the Obama administration so silent on this point? Both of these can be answered by a report from the Office of the Comptroller of the Currency (OCC). According to the latest figures Wall Street banks are so hugely levered to interest rate swaps that if the dollar […]
I was able to access Former Treasury Secretary Hank Paulson’s phone records while holding office. My colleague John Crudele gave me access to the data and has written extensively on Paulson’s actions during the Lehman collapse. It seems the secretary is very chatty with “market participants” during the Lehman Bros. turmoil and ultimate collapse. […]
