Stop Too Big To Fail

New Ad: The Big Banks Back Reform, So Let's Kill The Bill (VIDEO)

Justin Elliott | May 6, 2010, 9:22AM

A screen shot from a Stop Too Big To Fail ad

The latest TV ad from shady anti-financial reform group Stop Too Big To Fail advocates killing financial reform legislation because, the ad claims, the big banks actually want to see reform happen.

The ad follows the same "bailout, bailout -- BAILOUT!!" script of the group's previous ads, but with a new twist. Now, instead of misrepresenting the position of a progressive economist (as the group did with Simon Johnson and Robert Reich), Stop Too Big To Fail makes the twisted argument that financial reform should be defeated precisely because big bank CEOs have made extremely broad statements of support for a regulatory overhaul.

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Bailout Bailed Out

Obama Admin Grants Mega Tax Break To Citi In Bailout Deal

Justin Elliott | December 16, 2009, 2:35PM

Citigroup CEO Vikram Pandit and Barack Obama

Did the Obama Administration just deliver a $38 billion stealth bailout to Citigroup?

According to several outside experts the answer is yes, but the Treasury is maintaining an IRS ruling that granted Citi a $38 billion tax break was routine and proper. The Washington Post first reported the news of the IRS ruling in a front-page story today.

The IRS decision came as part of a deal for Citi to pay back $20 billion, which was announced earlier this week amid mutual back-patting. One benefit for Citi is being freed from salary restrictions.

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