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Only Alan Blinder, once a Fed vice chairman and a former Princeton colleague of Bernanke’s, defended the Fed. Blinder told this tale:
Andrew Ross Sorkin • Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem--and Themselves
At Roosevelt’s direction, legislation had been drafted giving the federal government authority to regulate the issuance of securities for the protection of those who bought them. Rayburn, who had seen so many financially unsophisticated farmers invest the little spare cash they had been able to scrape together in worthless stocks or bonds, had foug
... See moreRobert A. Caro • The Path to Power: The Years of Lyndon Johnson I
The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend
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The Bob Rubin trade? Robert Rubin, a former Secretary of the United States Treasury, one of those who sign their names on the banknote you just used to pay for coffee, collected more than $120 million in compensation from Citibank in the decade preceding the banking crash of 2008. When the bank, literally insolvent, was rescued by the taxpayer, he
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