Tax Havens: The Hidden Hand in the Financial Crisis

By  Lagan Sebert on Jan 07, 2009

The financial crisis seems as if it emerged from nowhere and struck as hard and fast as lightning. How did so many financial institutions crumble with so little warning? There are many reasons, but one that has not been given much attention is how tax havens helped enable the mess - and how several of the big companies that have received billions of bailout dollars were also the most active in the shady world of offshore finance.

Congress Ignored Critical Bailout Oversight

By  Lagan Sebert  Danielle Ivory on Dec 19, 2008

On December 19th, Henry Paulson urged Congress to release the second half of the $700 billion of the bailout money. But no one seems know what banks have done with the first $350 billion. Despite the fact that Congress wrote more than one hundred pages about oversight in the bailout bill, they left a gaping hole.

Bank Eat Bank: Bailout Encourages Mergers

By  Danielle Ivory  Lagan Sebert on Nov 21, 2008

With newfound bailout money in their wallets, big banks have been rushing to gobble up smaller ones. At the center of these mergers is the Treasury Department, led by Goldman Sachs alums Henry Paulson and Neel Kashkari. While neglecting struggling homeowners they have created major incentives for widespread bank consolidation, which could lead to a host of new problems. And, as members of Congress recently noted, Treasury officials seem to be making the rules up as they go

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Bailout Anger in the Streets

By  Steven Greenstreet on Sep 28, 2008

While government leaders worked behind closed doors to solve the bailout crisis, groups of concerned citizens took to the streets to express their anger and frustration. While some felt their voices would be heard, others felt helpless and lost.