The Legacy of Too Big to Fail
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Despite the so-called "Toxic Assets Relief Program" 12 banks are still "too big to fail," with protection guaranteed by American taxpayers. We update the bank bailout and the promise of foreclosure relief. Also, Israel's Netanyahu keeps power, though centrists score in elections. On Reporter's Notebook, attacks, counter attacks and explanations in Hillary Clinton's sometimes emotional appearance before a Senate committee.
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Israel’s Netanyahu Keeps Power, but Centrists Score in Election ()
After days of predictions that yesterday's parliamentary elections would move Israel farther right, a high turnout of voters produced some surprises. Sheera Frenkel is based in Jerusalem for the McClatchy Newspapers.
Is the Bank Bailout Still Going On? ()
Four years after the Toxic Asset Relief Program, America's twelve biggest banks are bigger than ever — and still protected by the guarantee of taxpayer money. Even a member of the Federal Reserve says they need to be broken up before increasingly risky investments provoke another financial crisis. TARP, supported by both the Bush and Obama Administrations, was supposed to provide foreclosure relief for abused homeowners, but a pending settlement is now being described as "another gift to the banks." We hear about the consequences, intended and otherwise, of government action to "save the economy."
- Matt Taibbi: Rolling Stone, @mtaibbi
- Edward 'Ted' Kaufman: former US Senator (D-DE)
- Harvey Rosenblum: Federal Reserve Bank of Dallas
- Paul Kiel: ProPublica, @paulkiel
Hillary Clinton Testifies on Benghazi ()
Having recovered from the concussion that kept her away, Hillary Clinton appeared before Senate and House committees today to answer questions about the attack on Benghazi that killed the Ambassador to Libya and three other Americans. The Secretary of State became emotional today before the Senate Foreign Affairs Committee when she took full responsibility for the loss of lives in Benghazi. Anne Gearan is diplomacy correspondent for the Washington Post.
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