Andy Kroll

Andy Kroll

Senior Reporter

Andy Kroll is Mother Jones' Dark Money reporter. He is based in the DC bureau. His work has also appeared at the Wall Street Journal, the Detroit News, the Guardian, the American Prospect, and TomDispatch.com, where he's an associate editor. Email him at akroll (at) motherjones (dot) com. He tweets at @AndrewKroll.

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McKibben's Case for a Climate Treaty

| Fri Oct. 23, 2009 9:19 AM PDT

After yet another climate conference (this time in Bangkok, ending earlier this month) in which world leaders failed to make any headway on the planet's most pressing problem, the prospect of a climate treaty in December, when 192 nations meet in Copenhagen, looks bleaker than an Arctic winter.

Then again, as Mother Jones contributing writer and author Bill McKibben writes in his most recent story, "Copenhagen: Too Hot to Handle," those Arctic winters might not be so bleak after all if our leaders leave climate change unchecked by failing to reach an agreement at Copenhagen. Indeed, the consequences of an unsuccessful Copenhagen conference, as McKibben describes, would be disastrous.

Already the planet is changing before our eyes as a result of climate change. Glaciers are melting at a rapid pace. Dengue fever is spreading to new regions. Drought could turn the American Southwest into a new dust bowl. Climate change even threatens to wipe entire nations, like the Maldives, off the map. Mohamed Nasheed, the Maldives' bold new president, has even started setting aside part of his country's budget to buy a new homeland.

So needless to say, the stakes are high for December's climate conference. McKibben's piece—an absolute must-read for anyone with even the slightest interest in climate change—puts the looming negottiations into context, and offers a clear-eyed assessment about what we, and our leaders, need to do to make a treaty happen—and what we should expect if they don't.

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TARP: The Pyrrhic Bailout?

| Wed Oct. 21, 2009 12:42 PM PDT

In his office's most recent quarterly report, Neil Barofsky, the Special Inspector General for TARP, reminds readers of the overall bailout funding at risk in the Treasury's TARP rescue so far—as much as $2.9 trillion, a staggering, unimaginable sum. But the SIGTARP's report doesn't dwell entirely on dollars and cents. Instead, Barofsky focuses on TARP's cost to the federal government's credibility in the eyes of the wary public.

The report, in assessing TARP's effectiveness, begins by saying what most of us already figured—that the bailout went a long way toward stabilizing the economy. It propped up financial institutions that, for good or ill, were integral to the financial markets, and brought "the system back from the brink of collapse." But beyond the financial markets, the report continues, many of TARP's programs have sputtered, including its homeowner relief initiatives (read: the HAMP program), and its effort to remove the threat of ticking-time-bomb toxic assets from the books of financial institutions. In short, TARP has largely succeeded in its chief aim—to avert complete financial meltdown—but struggled elsewhere.

But how pyrrhic was that victory? For one, as the SIGTARP report points out, Wall Street is already reverting back to the over-leveraged, risky, even reckless behaviors that helped bring on the crisis—and the government is egging them on. "The firms that were 'too big to fail' last October are in many cases bigger still, many as a result of Government-supported and -sponsored mergers and acquisitions," the report states. "Absent meaningful regulatory reform, TARP runs the risk of merely re-animating markets that had collapsed under the weight of reckless behavior."

VIDEO: There's No Recovery Here

| Tue Oct. 20, 2009 1:26 PM PDT

Big Finance may be breathing a sigh of relief these days, but what about the rest of the country? With foreclosures at a record high and the national unemployment rate at 9.8 percent, I went to talk with some of the people still waiting for their recovery, their bailout, at a massive homeowner relief event in the San Francisco Bay Area. Organized by the Neighborhood Assistance Corporation of America, the "Save the Dream" tour offers many people a last-gasp hope at saving their homes—and for many, their American Dream.

Watch the video below to meet them and hear their stories.

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