For the next two years we will see Republicans do everything they can to deliver for corporate America at the expense of the American people. The only question is whether Democrats will enable them. Will President Obama continue to make compromise after compromise?
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.
Undoubtedly there are positives to Holder's tenure as attorney general, but one really big minus is his decision not to prosecute any of the Wall Street crew whose actions helped to prop up the housing bubble.
Achieving financial stability will continue to require risk management skills, good governance, personal ethics, and, above all, courage to act to prevent further deterioration of finance.
Too big to fail may be a problem. But it is no larger or smaller than the problem of good policy itself.
We were all victims of the financial crisis that began in 2007 (not 2008), but some of us suffered more than others. And, hundreds of millions of us are still living with the painful aftermath as its consequences began to be felt worldwide.
The financial nightmare that's been facing Chicago seems to be getting worse. Moody's Investor Services downgraded the city's credit rating on $8.3 b...
Turmoil in Emerging Markets hit investor confidence in January and, after a stellar February, the crisis in the Ukraine could lead to profit taking this month.
Only in the warped, distorted, Alice-in-Wonderland world of Wall Street would one think "Washington went to war against big Wall Street banks" or that "Washington won [the war] in a blowout," as said today in a Politico article.
We hear endless lamentations about how corrupt our political process has become; that special interest groups with wealthy anonymous donors fund the campaigns of politicians who in-turn endorse legislation which favors these groups. For the most part, it's true.
I assume Segarra's suit isn't the publicity Blankfein was hoping for, and I wonder what's going on at the NY Fed. When I was at Monster Worldwide, I experienced first-hand Goldman Sachs "doing God's work."
All in all, you could not have designed a more perfect program to enrich the rich and do absolutely nothing for the 99 percent -- and as a result, sink ever more children into poverty.
This separation of Europe into a "good north" and a "bad south" by the traditional European press has been instrumental in undermining feelings of solidarity on the continent and have torn at the very heart of the "European ideal."
When Federal Reserve Chief Ben Bernanke appeared on 60 Minutes to persuade us to bail out the banking system, he didn't bother with charts, figures or lengthy argument. Instead, he used something far more powerful: Analogy and metaphor.