On December 9, the federal government dumped the rest of its 30 million shares in General Motors, which had become known as Government Motors, for good reason. In 2009, the federal government bailed out the bankrupt automaker to the tune of $49.5 billion and once held 60.8 percent ownership in the company. The loss…
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“In June 2009, President Obama proposed to address failures of consumer protection by establishing a new financial agency to focus directly on consumers, rather than on bank safety and soundness or on monetary policy.” So explains the Consumer Finance Protection Bureau (CFPB), the new federal agency that emerged in the midst of a deep…
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“That is the height of irresponsibility. It is shameful. And part of what we’re going to need is for the folks on Wall Street who are asking for help to show some restraint and show some discipline and show some sense of responsibility.” That was President Barack Obama in 2009 responding to news that…
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