We are a society committed to the principle of equal justice under the law and our system is based on the principle that the punishment should fit the...
"Crap." That word is used quite often by the handful (one handful) of analysts and traders who "shorted" (bet against) the trillion-dollar mortgage-b...
Protecting the American people from another devastating financial crash and the economic wreckage it causes begins with reflecting honestly about the past and trying to learn the right lessons.
They may be unlikely allies. They may have vastly different motivations. But for now, Carl Icahn and Elizabeth Warren can justifiably claim to be on the same side when it comes to systemically important financial institutions. It is a union that bank executives should be very afraid of.
As well intended as it could be, the regulator seems to ignore that none of the European insurance companies needed any rescue during the financial crisis and they even contributed to the haircut of Greek debt.
Remarkably, Goldman Sachs, one of the richest, most powerful, politically connected (aka Government Sachs) too-big-to-fail Wall Street banks, has demonstrated a Teflon-like ability to bounce back from egregious misdeeds, if not outright illegal conduct, and horrible publicity.
Lehman down, AIG up, Carmen Segarra out and a seemingly well-connected, three-peat winner, Goldman Sachs, motors on...
The goal of the lawsuit -- to provide even more for AIG's bailed-out shareholders -- seems absurd. But at least this lawsuit, which has already seen testimony from two former Treasury secretaries, is finally giving the American people some hard lessons in the workings of the bailout process and the shortcomings of our current economic system.
Don't get trapped by overindulgence, bells and whistles, too many organizations taking their slice of the pie or those prone to fly-by-night. When it ...
The argument goes that instead of being jealous, we all should be working in harmony together to create jobs and opportunity. Problem is, the deeply rich talk about building the economy but do almost nothing about it.
Plenty of worry for the famous wall that markets often climb, but no Armageddon's on the horizon. Maybe we can get back to "normalcy" after all, even with increased market "volume" more to the upside.
Regarding the #AskJPM blowup, one article began by asking the right question: "What were they thinking?" The answer is, they weren't thinking; they were all talking to themselves and like-minded executives.
How could anyone five years after the crash have such disgraceful beliefs? It's the predictable outcome of trillions of dollars of no strings bailouts for Wall Street with no accountability for the financial crash and Wall Street's role in causing it.
U.S. taxpayers bailed out AIG and its counterparties. Employees earned huge partial bonuses anyway, and no one went to jail. Now, five years later, AIG's new CEO, Robert Benmosche, is acting like a big smug guy who got away with something, because AIG did.
Too many of the nation's major institutional investors -- who manage the life savings of working Americans and who are major shareholders in the big banks -- have been silent and passive in the wake of the crisis.
The SEC has lost steam in its already very weak push against mortgage lenders and the investment banks that supplied them with money for alleged fraudulent lending.