It turns out, toddlers who tell lies do better as adults. Whether this is surprising news about child development, or a sad statement about the kind of society we live in depends on how you define "better."
by Zach Carter, Media Consortium blogger Last week, the U.S. Senate rejected a plan that would have broken up the nation's six largest banks firms in...
The most important fight from here on out is protecting the surviving elements of the derivatives bill crafted by Sen. Blanche Lincoln. Lincoln's bill would force big banks who deal derivatives to spin off those operations into separate companies.
What happens if you or I fail to underwrite our underwriters? What if we buy flood insurance from a company that's overcommitted when the flood comes? Too bad for us. Not so bad for Goldman.
Given Congress' need to find a scapegoat for the financial meltdown of the Great recession other than itself, it will no doubt make a least a cosmetic effort at financial reform.
If a corrupt scheme is "making money," everyone involved--from the culprits to the dupes--viciously attacks anyone who tries to expose it. Hedge fund manager Bill Ackman learned this lesson the hard way.
International corporations have no loyalty whatsoever to our country or its welfare. They are huge, free-floating international organizations dedicated to only one goal: making as much money as possible for themselves.
As a consumer advocate and a military brat, I have long been a huge fan and a lifelong member of USAA. USAA is an insurance company that was set up to...
Sadly, for our once respected and emulated financial system, playing a double sided game for single sided profit seems all too often the norm of the day. It just seems some are better at it than others.
Washington has tied itself in knots trying to find a way to thwart "too big to fail" without cutting megabanks down to size. It can't be done. When something is too big, the solution is to make it smaller.
The real scandal of the entire bailout mess was how money was funneled through AIG to pay "counterparties" like Goldman Sachs 100 cents on the dollar.
Wall Street has long forgotten how to spell "ethical" or "good," and replaced it with "compliant" and "legal." The time has come to explain to investment banks what their responsibility and accountability are.
by Zach Carter, Media Consortium blogger Last week, the Securities and Exchange Commission filed fraud charges against Goldman Sachs and underscored w...
It turns out that AIG reportedly wanted to pay 60 cents on the dollar for Abacus deals it had insured, but Geither's New York Fed directed them to pay the full amount.
To add insult to injury, we the people now own the company at the center of much of the alleged fraud. Mr. President, please show the American people the AIG emails.
The most disturbing part of the Goldman lawsuit is that it confirms Goldman's reputation of doing whatever it takes to win, even if it damages their clients and society as a whole.