Photo Slide Show: Obama Meets With Failed Bank CEOs

As readers know, Obama and Geithner love the failed bank CEOs.  The executive pow-wow was held last Friday at the White House and we put together a picture gallery of the high school dance.  Ken Lewis, Vikram Pandit, Jamie Dimon, Lloyd Blankfein and John Mack in all their failed glory.

Bank CEO Summit Photo Slide Show

Comments

[DailyBail]

Paulson Expected Criticism for Changing Course on TARP

http://online.wsj.com/article/SB123867380519382149.html

[Ain't Bullshittin']

Birds of a feather flock together.......Don't expect much change...unless you think your wallet won't get thinner.

[James H]

Just read the WSJ article on "Henry Paulson." What strikes me is that Paulson claims to have been surprised by the insolvency of the big banks and, apparently, some of the investment banks. How could he be surprised?

I've read articles suggesting that "everyone" knew what a ponzi scheme the different institutions were running (e.g. through creative use of CDS, etc.) and that this is why the inter-bank rates went up and why some of the banks refused to lend to each other. It seemed clear that everyone knew how bad a shape everyone else was in.

SO...are Paulson and his former assistants just blowing smoke now to cover up the fact that they knew the real state of things back then? Or were they really as hapless as they sometimes appeared on camera back in the fall?

[DailyBail]

U.S. property bust threatens condo "death spiral"

http://www.reuters.com/article/newsOne/idUSTRE53200O20090403?pageNumber=1&virtualBrandChannel=0

[DailyBail]

US banks that have received government aid, including Citigroup, Goldman Sachs, Morgan Stanley and JPMorgan Chase, are considering buying toxic assets to be sold by rivals under the Treasury’s $1,000bn (£680bn) plan to revive the financial system.

The plans proved controversial, with critics charging that the government’s public-private partnership - which provide generous loans to investors - are intended to help banks sell, rather than acquire, troubled securities and loans.

http://www.ft.com/cms/s/0/358e479a-1fbf-11de-a1df-00144feabdc0.html

[DailyBail]

(Reuters) - U.S. banks that have received government aid, including Citigroup Inc, Goldman Sachs, Morgan Stanley and JPMorgan Chase & Co, are considering buying toxic assets to be sold by rivals under the Treasury's $1,000 billion plan to revive the financial system, the Financial Times said.

Citigroup was considering whether to take part in the plan as a seller, buyer or manager of the assets, but no decision had yet been taken, the paper said, citing people close to the company.

http://www.reuters.com/article/newsOne/idUSTRE5320OK20090403

[DailyBail]

US Adopts Japan Bank Solution

http://www.businessinsider.com/henry-blodget-fasb-caves-us-adopts-japan-bank-accounting-standards-2009-4

[BuzzSaw]

I thought I would add the following article to your mix of links. Hope you don't mind.


Why Legalizing Marijuana Makes Sense

http://www.time.com/time/nation/article/0,8599,1889021,00.html