The Treasury Department gave Felix Salmon’s response to Crusader against Injustice Timmeh Geithner’s statement on foreclosures more attention than it gave mine–they emailed a response to Salmon’s questions about why foreclosures would hurt property values. And their response is even more telling than Crusader against Injustice Timmeh Geithner’s original statement. First, at least 40 % [...]

When I asked yesterday about the relationship between the stress tests and the servicers’ foreclosure fraud, I had a hunch that the banksters might have been committing that fraud so as to be able to show financial viability so as to be able to repay TARP funds so as to escape the oversight of the [...]

What a load of crap: Charlie Rose: You’re encouraging banks to declare a moratorium on foreclosures? Tim Geithner: No, I wouldn’t say it that way. I think that you know what you’re seeing in housing still now is a national tragedy, still very, very difficult. You know, again, this was a crisis caused by a [...]

The other day, I noted that Administration claims that they were helpless to affect what they now depict as loan servicers’ “sloppiness” but what really amounts to fraud ignores their decision to stop pushing for cramdown–and with it, leverage over the loan servicers. I think (though I’m less sure of this) they’re ignoring one other [...]

I’m cautiously optimistic with the dual appointment of Elizabeth Warren to be Assistant to the President to work at Treasury to set up the Consumer Financial Protection Board. Frankly, no one knows what this appointment will mean in practice except perhaps Obama, Warren, and Timmeh Geithner. And no one knows how well Warren will negotiate [...]

Jake Tapper hammered Robert “a recovery that got our economy moving again” Gibbs yesterday on whether the Administration is not doing more for the economy because of political paralysis. After four attempts to avoid answering the question or focus exclusively on blaming Republicans, Gibbs finally suggested there wasn’t all that much the Administration can do [...]

You’ve probably already read DDay’s and Atrios’s pieces on what some Treasury officials admitted about HAMP the other day. But partly because I want to link to this really comprehensive account of the entire meeting and partly because I want to elaborate on a point made in it, I thought I’d join in. Basically, at [...]

What a ridiculous piece of crap this A1 article by Anne Kornblut is, proclaiming that Eric Holder is having a good week. It parrots conventional wisdom about what a bad time Eric Holder has had–pointing to turf battles he lost, rather than matters reflecting on the success or failure of DOJ itself. And then proclaims [...]

The NY Post reports that some are suggesting Jamie Dimon to replace Tim Geithner.

I noted the other day that Timmeh (or, according to other coverage of this, Helicopter Ben) told the banks to keep their stress test results to themselves.

Well, apparently, stockholder and taxpayers are not the only ones left out of the secret. So is Congressional Oversight Board Chair Elizabeth Warren. In fact, she’s not even allowed to know the formulas they used to measuring the banks.