Neil Barofsky, the former inspector general in charge of oversight at TARP says Treasury Secretary, Tim Geithner’s comments on LIBOR aren’t credible and argues that his inaction and failure to ring alarm bells was an implicit approval of what banks were doing. Here is a direct link.
He also weighs in on Sandy Weills’ call this week to break up the big banks. Here is a direct link.
Jon Hilsenrath is the Wall Street Journal Senior Economics Correspondent and is alleged to have the inside scoop on Fed action plans. In this clip he explains that the Fed is likely to try further easing experiments given evidence of a renewed weakening in the US economy. He reviews some different ideas the Fed may undertake and points out that they could announce new measures as early as next week or the September meeting, but no matter what or when, the Fed is increasingly between a rock and a hard place, likely to disappoint both sides of the political aisle. Here is a direct link.
Danielle was a guest today with Phil Mackesy of Talk Digital Network discussing recent developments in the world economy and markets. You can listen to an audio clip of the interview here.
