All the Presidents' Bankers (99 page)

BOOK: All the Presidents' Bankers
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128
. Prins and Ugrin, “Bailout Tally Report.”

129
. Council on Foreign Relations, “Robert E. Rubin,” at
www.cfr.org/experts/world/robert-e-rubin/b292
.

130
. Sheryl Gay Stolberg and Stephen Labaton, “Obama Calls Wall Street Bonuses ‘Shameful,’”
New York Times,
January 29, 2009.

131
. Federal Reserve Bank of New York, “New York Fed Names William C. Dudley President,” at
www.newyorkfed.org/newsevents/news/aboutthefed/2009/oa090127.html
.

132
. Shahien Nasiripour, “Geithner Calendar: Met with Goldman’s Blankfein More Than Pelosi, Reid, McConnell, Boehner,” Huffington Post, September 14, 2010, at
http://www.huffingtonpost.com/2010/09/14/geithner-blankfein-pelosi_n_715334.html
.

133
. Jackie Calmes and Louise Story, “In Washington, One Bank Chief Still Holds Sway,”
New York Times,
July 18, 2009.

134
. The others were John Adams, John Quincy Adams, George W. Bush, Rutherford B. Hayes, John F. Kennedy, Franklin Roosevelt, and Teddy Roosevelt.

135
.
Data.gov
, White House Visitor Records Requests, at
https://explore.data.gov/dataset/White-House-Visitor-Records-Requests/644b-gaut
.

136
. Executive Branch Personal Public Financial Disclosure Reports 2011 / 2012 at
www.whitehouse.gov/sites/default/files/president_obama_2011_oge_form_278_certified.pdf
.

137
. The White House, “Remarks by the President on Financial Rescue and Reform,” press release, September 14, 2009.

138
. US Department of Labor, “Data Retrieval: Labor Force Statistics (CPS),” Table A-15, alternative measures of labor underutilization, February 4, 2011.

139
. Board of Governors of the Federal Reserve System, “Aggregate Reserves of Depository Institutions and the Monetary Base,” statistical release H.3, February 4, 2010.

140
. As of September 2013, there was talk that Obama would replace Bernanke upon the end of his term with Larry Summers, further underscoring the alignment of policies and interests with Wall Street and its free-market, deregulatory, influential doctrine. But once Summers withdrew from contention on September 15, 2013, Fed vice chairman Janet Yellen became Obama’s choice for the post.

141
. Prins and Ugrin, “Bailout Tally Report.”

142
. Thomas P. Di Napoli, New York State Comptroller, “DiNapoli: Wall Street Bonuses Declined in 2010: Earnings Down from Record High, but Wall Street Has Second Best Year Ever,” press release, February 23, 2011.

143
. OECD, “Employment and Labour Markets: Key Tables from OECD,” January 3, 2011, at
www.oecd-ilibrary.org/employment/youth-unemployment-rate-2010_20752342–2010-table2
.

144
. Nomi Prins, “The Greek Tragedy and Great Depression Lessons Not Learned,” Thoughts Blog, February 21, 2012, at
www.nomiprins.com/thoughts/2012/2/21/the-greek-tragedy-and-great-depression-lessons-not-learned.html
.

145
. Library of Congress, H.R. 4173, The Wall Street Reform and Consumer Protection Act of 2009, Bill Text Versions, 111th Congress (2009–10).

146
. Open Secrets, Center for Responsive Politics, Lobbying Database, at
www.opensecrets.org/lobby/index.php
.

147
. “Banking Reform Bill Swiftly Approved,”
New York Times,
June 13, 1933.

148
. US Department of the Treasury, “Statement from Secretary Geithner on the Financial Reform Conference,” press release, June 25, 2010.

149
. Standard & Poor’s Financial Services LLC, “United States of America Long-Term Rating Lowered to ‘AA+’ Due to Political Risks, Rising Debt Burden; Outlook Negative,” press release, August 5, 2011. See also Prins and Ugrin, “Bailout Tally Report.”

150
. Christopher Chantrill, Government Debt Chart,
usgovernmentspending.com
, at
www.usgovernmentspending.com/spending_chart_2008_2017USp_XXs1li111mcn_H0f
.

151
. Hugh Son, “BofA Loses No. 1 Ranking by Assets to JPMorgan as Chief Moynihan Retreats,”
Bloomberg,
October 18, 2011. See also Nelson D. Schwartz, “Bank of America Loses Title as Biggest in U.S.,”
New York Times,
October 18, 2011.

152
. Charles Ferguson, “Jamie Dimon, Colossus of Wall Street,”
Time,
April 21, 2011.

153
. David Benoit, “Jamie Dimon Bashes Financial Regulation,”
Wall Street Journal,
March 30, 2011.

154
. Julianna Goldman, “Goldman CEO Blankfein Said to Meet with Obama Adviser Lew,”
Bloomberg Businessweek,
July 18, 2012.

155
. Gregory Zuckerman, “‘London Whale’ Rattles Debt Market,”
Wall Street Journal,
April 6, 2012. See also Gregory Zuckerman, “J.P. Morgan ‘Whale’ Report Signals Deeper Problem,”
Wall Street Journal,
July 14, 2012; JPMorgan Chase, CEO Taskforce Update, July 13, 2012.

156
. Colin Fernandez, “Feeling the Pinch, Tony? Blair Takes Out £4.2 Million Loan Against His Central London Des Res from U.S. Bank He Advises,” Mail Online, September 16, 2012. See also PR Newswire, “Tony Blair Appointed Senior Advisor to JPMorgan Chase,” press release, January 10, 2008.

157
. US Senate Committee on Banking, Housing, and Urban Affairs, “A Breakdown in Risk Management: What Went Wrong at JPMorgan Chase?” Hearings, June 13, 2012.

158
. Council on Foreign Relations, “The State of the Global Economy,” Transcript, October 10, 2012, at
www.cfr.org/economics/state-global-economy/p29251
.

159
. Ibid.

160
. Revised Statistics, “SEC Enforcement Actions Addressing Misconduct That Led to or Arose from the Financial Crisis,” as of September 1, 2013, at
www.sec.gov/spotlight/enf-actions-fc.shtml
.

161
. Nate Raymond and Bernard Vaughan, “Judge Approves Citigroup $590 Million Settlement,” Reuters, August 1, 2013, at
www.reuters.com/article/2013/08/01/us-citigroup-settlement-idUSBRE9700T420130801
.

162
. Nick Summers, “Ex-Goldman Banker Found Liable in $1 Billion Fraud Case,”
Bloomberg Businessweek,
August 1, 2013.

163
. Jonah Goldberg, “Obama’s Tainted Bundler,”
Los Angeles Times,
April 24, 2012.

164
. Federal Reserve Board, “Factor Affecting Reserve Balances,” H.4.1. Release, October 10, 2013, at
http://www.federalreserve.gov/releases/h41/Current/
.

165
. Federal Reserve Board, “Statement Regarding Transactions in Agency Mortgage-Backed Securities and Treasury Securities,” press release, September, 13, 2012, at
www.newyorkfed.org/markets/opolicy/operating_policy_120913.html
.

166
. Pedro da Costa and Alister Bull, “Bernanke Says Fed Stimulus Benefits Clear, Downplays Risks,” Reuters, February 26, 2013.

167
. Office of the State Comptroller, “Wall Street Bonuses Rose in 2012,” February 26, 2013.

168
. The White House, “Statement from the President on the Confirmation of Jack Lew as Secretary of Treasury,” press release, February 27, 2013.

169
. The White House, “Former Chief of Staff Jack Lew,” at
www.whitehouse.gov/administration/staff/jack-lew
.

170
. Siddhartha Mahanta, “Flashback: Lew’s Time at Citi and Other Disappointments,”
Mother Jones,
January 9, 2012.

171
. Pam Martens, “Democrats Disgrace Themselves with Jack Lew Confirmation for Treasury Secretary,”
Wall Street on Parade,
February 28, 2013.

172
. National Mortgage Settlement Fact Sheet: Settlement, October 19, 2013, filed as a consent judgment in US District Court for the District of Columbia, at
https://d9klfgibkcquc.cloudfront.net/Mortgage_Servicing_Settlement_Fact_Sheet.pdf
. See also “$25 Billion Mortgage Servicing Agreement Filed in Federal Court,” March 12, 2012, joint press release from the Department of Justice, the Department of Housing and Urban Housing Development, and forty-nine state attorneys general, at
https://d9klfgibkcquc.cloudfront.net/Settlement-USDOJ-FILING-news-release.pdf
. “SEC Enforcement Actions Addressing Misconduct That Led to or Arose from the Financial Crisis,” as of October 27, 2013, at
www.sec.gov/spotlight/enf-actions-fc.shtml
. “Independent Foreclosure Review to Provide $3.3 Billion in Payments, $5.2 Billion in Mortgage Assistance,” January 7, 2013, joint press release from the governors of the Federal Reserve System and the Office of the Comptroller of the Currency, at
www.federalreserve.gov/newsevents/press/bcreg/20130107a.htm
.

173
. Victoria Bryan, “Goldman Sachs Boss Says Banks Do ‘God’s Work,’ Reuters, November 8, 2009.

INDEX

A. Steinam Company,
168

Abacus deal,
418

Abel, I. W.,
295

Acheson, Dean,
195

Adams, Charles Francis III,
88

Adams, Sherman,
203
,
216

Afghanistan,
313

Agricultural Adjustment Act of 1933,
132
,
149

Ahamed, Liaquat,
108

AIG, bailout of,
410
,
411

Aldrich, Nelson,
7
,
15
,
20–21
,
23–24

Aldrich, Winthrop

    
Aldrich plan,
24–26

    
as ambassador to Britain,
206

    
Banking Act of 1933, against amendment to,
142–143

    
banking strategies of,
164
,
200–201
,
397

    
as chairman and president of Chase,
123

    
Committee for Financing Foreign Trade, chairman of,
179
,
180
,
181

    
Eisenhower, relationship with,
202
,
219

    
Europe, organization of financial relief for,
181

    
FDIC, opposition to,
130–131

    
FDR, relationship with,
125–128
,
133–134

    
free trade, support for,
207–208

    
Glass-Steagall Act, support for,
124–125
,
139

    
inflation, ideas for curbing,
177–178

    
International Chamber of Commerce, president of,
174
,
181

    
Marshall Plan, support of,
183–184

    
Middle East, visit to,
199–200

    
multinational banks, opposition to,
171–172

    
national debt, stabilization of,
166–167

    
National War Fund, chairman of,
167–168

    
Truman, relationship with,
174
,
179
,
181

    
war, varying opinions on,
154–155
,
156

    
war financing, role of in,
166

Aldrich Bill,
31–32

Aldrich plan,
25–26

Aldrich-Vreeland Act of 1908,
19

Aldridge, John,
359

Alexander, Henry,
206
,
225–226

Allegheny Corporation,
89
,
129

Alliance for Progress,
236
,
245
,
247
,
250
,
264
,
265

Allon, Yigal,
292

Aluminum Company of America (Alcoa),
74
,
88

American Bankers Association,
172

Amherst College, alumni in politics and banking,
79
,
186
,
247

Andean Pact,
273

Anderson, Benjamin,
86

Anderson, Robert,
224

Andrew, Abraham Piatt,
23

Andrews, Lisa,
384

Antitrust laws,
263

Argentina,
332

Argo
(film),
311

Armacost, Samuel,
324
,
327
,
342

Armao, Robert,
307

Arthur Anderson,
400

Ashraf, Princess,
307
,
308

Asian crisis,
380
,
386

Aspe, Pedro,
350

Asset-backed securities (ABS),
403

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