On this day five years ago, Secretary of the Treasury Henry Paulson officially unveiled the $700 billion Troubled Asset Relief Program (TARP). The program, originally intended to purchase toxic assets from banks, was initially used to inject capital into nine big financial institutions – Bank of America, Citigroup, JP Morgan Chase, Wells Fargo, Goldman Sachs, … Continue reading
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SAN FRANCISCO CHRONICLE | The Unrepentant and Unreformed Bankers
August 18, 2012 – Op-Ed by Phil Angelides featured in the San Francisco Chronicle. Money laundering. Price fixing. Bid rigging. Securities fraud. Talking about the mob? No, unfortunately. Wall Street. These days, the business sections of newspapers read like rap sheets. GE Capital, JPMorgan Chase, UBS, Wells Fargo and Bank of America tied to a … Continue reading
EIN NEWS | Break Up The Banks
Break Up The Banks July 16, 2012 – By Joe Rothstein, Editor, EINNEWS.com ”I find myself increasingly seeing the wisdom of Thomas Jefferson’s statement in 1816 that, “banking establishments are more dangerous than standing armies.” The speaker was Phil Angelides, longtime California business leader, former state treasurer and chair of the bipartisan commission set up … Continue reading
REUTERS | Big Banks should be shrunk and broken up – here’s why and how
REUTERS Big Banks Should – And Can – Be Shrunk If Needed, Experts Say June 12, 2012 – By Stuart Gittleman, Guest Contributor NEW YORK, June 12 (Thomson Reuters Accelus) – A need to break up big banks is one of the several lessons policy makers should have learned from the financial crisis that have either … Continue reading
CURRENT TV | Phil Angelides says breaking up the big banks is ‘the only real solution’
May 31, 2012 – Eliot Spitzer of Viewpoint gets Phil Angelides’ take on the state of Wall Street and how the financial industry can learn from the crisis of 2008. Phil Angelides: “I’ve just come to the conclusion that in the end, the only real solution here to get a stable banking system is to break up the … Continue reading
Phil Angelides 