NYT: Investigate Goldman and Geithner counselor Lee Sachs

In an editorial today, the New York Times calls for an investigation of Goldman Sachs and other financial firms for placing large bets against securities that they bundled and sold to clients. Titled “Betting against all of us,” the editorial was prompted by an article by Gretchen Morgenson and Louise Story that appeared in the …

Read More

NewsShift: Watchdog Journalism With a Long Tail

Every year for the past few years, Knight Foundation has conducted a News Challenge that awards about $5 million in funding to a selection of projects that Use digital open-source media To distribute news and information In a geographic community As Kevin recently noted, this year we finally got our act together and submitted a …

Read More

Harvard managers’ ties to counterparties deserve investigation

Larry Summers continues to refuse comment on his disastrous management of Harvard University’s finances, according to a lengthy Bloomberg article out Friday (aptly titled “Harvard swaps are so toxic even Summers won’t explain”).  The former Harvard president’s failed bets on interest rates led to a historic liquidity crisis last fall that forced the school to …

Read More

Bean and New Democrats Linked to Key Wall Street Lobby

Last week LittleSis reported that Rep. Melissa Bean receives significant support from the Wall Street interests who helped weaken new financial reform legislation. One such supporter is the Securities Industry and Financial Markets Association (SIFMA), Wall Street’s primary lobbying organization. SIFMA funds many of the New Democrats who helped pass the Bean amendment, as well …

Read More

Understanding Rubin

Matt Taibbi includes a devastating analysis of the role that Robert Rubin has played in shaping this young administration in his latest piece for Rolling Stone, Obama’s Big Sellout: Despite being perhaps more responsible for last year’s crash than any other single living person — his colossally stupid decisions at both the highest levels of …

Read More

Melissa Bean’s backers are key Obama associates

A group of “New Democrats” led by Representative Melissa Bean has reportedly won major concessions in the financial reform fight: The compromise reached late Wednesday between pro-reform House Democrats and the banker-friendly wing of the party could significantly weaken consumer protection in states where lawmakers support tougher rules against tactics such as predatory lending and …

Read More

PIMCO’s handshake with Kashkari

Neel Kashkari, ex-Treasury Secretary Henry Paulson‘s pick to oversee TARP, has joined the bond firm PIMCO, the trillion dollar bond manager based in southern California.  The move comes just days after the Washington Post ran a lengthy profile of Kashkari and his life after Treasury. Felix Salmon notes that with the move, PIMCO has cemented …

Read More

Wall Street’s tunnel to the White House

Are Treasury officials and their friends able to avoid appearing on the White House’s newly-released visitor logs? I raise this question because there is a tunnel between the White House and the Treasury Department, and it appears to be used quite frequently by members of the administration’s economic team. See this New York Times article …

Read More

Did Baucus’s romantic trip to Dubai cost taxpayers billions?

News broke this morning that Senator Max Baucus had recommended his girlfriend for a US attorney job. Earlier this year, Baucus nominated Melodee Hanes, his state director and girlfriend, for the post, along with two others. He later withdrew her name. During her time in Baucus’s office, Hanes collected plenty of taxpayer money at the …

Read More

Exploring Baypolitics

There are lots of graphs to be made and insights to be gleaned from LittleSis data on the Bay Area’s corporate elites, which we posted about yesterday (sign up for an API key if you’d like to start playing with it yourself). Here’s another that I find quite interesting, showing the partisan leanings of the …

Read More