banking

NWPR Books
1:38 pm
Mon May 12, 2014

For Geithner, Financial Crisis Was Like Landing A Burning Plane

Then-Treasury Secretary Timothy Geithner testifies before the House Financial Services Committee in 2012. He says he struggled with communicating why he had to help the banks during the financial crisis.
Alex Wong Getty Images

Originally published on Mon May 12, 2014 5:27 pm

Timothy Geithner was president of the New York Federal Reserve when the Wall Street bank Lehman Brothers collapsed in 2008. A few months later, he became Treasury secretary as the crisis deepened on his watch.

Geithner received mixed reviews of his performance during that time. Wall Street types take him for a champion of excessive government intervention and regulation, while Occupy Wall Street types consider him a tool of the banks. Geithner, however, says he was just trying to get the financial system out of a multifaceted crisis with the threat of a Great Depression looming.

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Pot Banking
7:23 am
Wed September 11, 2013

Feds Working To Address Pot Banking Snag

A federal law enforcement official says the government is working to address a ban on banks taking on marijuana businesses as clients. As it stands, when pot stores come to Washington they won’t be able to deposit their money in a bank or accept credit cards. That’s because the pot business, still illegal under federal law, is off limits to federally regulated banks. King County Sheriff John Urquhart told a U-S Senate committee Tuesday that businesses that deal only in cash present problems for police.

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Bank Tax
5:16 pm
Mon April 16, 2012

In Wash. A “Hollow” Victory For Tax Break Foes

For liberal activists in Washington, it has become the Holy Grail of tax breaks. We’re talking about a deduction banks can claim on some mortgages. Last week, the Washington legislature voted to end this tax exemption for large, out-of-state banks. But now some on the left are calling it a “hollow” victory.

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ProPublica Investigation
2:30 pm
Tue March 6, 2012

Fed Shrugged Off Warnings, Let Banks Pay Shareholders Billions

The Federal Reserve Building, Washington D.C.
Photo by Dan Smith Wikimedia Commons

In early November 2010, as the Federal Reserve began to weigh whether the nation's biggest financial firms were healthy enough to return money to their shareholders, a top regulator bluntly warned: Don't let them.

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Class-action Bank Suit
4:36 pm
Tue February 14, 2012

Oregon seeks to recover $15.7 million invested with New York Bank

Old Bank of New York Mellon building, New York.
Photo by Wikimedia User Jim.henderson Wikimedia Commons

Oregon seeks to co-lead a class action lawsuit against Bank of New York Mellon. The bank was allegedly involved in a foreign currency exchange manipulation scheme.

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