And Feinberg was never approved by the Senate, either.
Raw usurpation of power here.
One official told Fox News that Feinberg from the start had the independent authority to work with companies and make such a call. Obama was never required to sign off before final decisions were made.
And Feinberg was never approved by the Senate, either.
Raw usurpation of power here.’
A coup? A financial coup?
Why would any executive worth his salt stay at one of these 7 locations that got TARP money?
The banks were pushed into making NINJA loans- no income/no job or assets— to people who could never hope to keep up the payments. Did they do other very speculative things that didn’t work? Yes.
Would they have done these speculative things if they could have controlled their own loan portfolios? I wonder.
Carter started this whole loan mess with the CRA in 1977. That says it all for me.
The corporate heads were morons for accepting bailout money but they could redeem themselves some by raising holy hell in congress and the supreme court over these czarist decisions.