Tag Archive for Treasury Department

The Double Standards on Bank Crimes

Timothy Geithner (left), then Treasury Secretary, meeting with President Barack Obama in the Oval Office. (White House photo)

The U.S. government has levied some billion-dollar fines on banks for offenses tied to the financial crisis, but bank officers have avoided the shackled frog-walk and time behind bars, humiliations dealt out routinely to criminals who make off with much less money, says ex-U.S. diplomat William R. Polk.

Jack Lew’s Footprints in Cayman Sand

Jack Lew, the new U.S. Treasury Secretary, follows in the footsteps of other Wall Street insiders to hold that position. His Cayman accounts and “golden parachutes” also may make it hard for him to put himself in the shoes of average Americans, as Michael Winship notes.