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.
After a half-decade of emergency measures -- including not only the bailout, but the temporary nationalization of major auto manufacturers and round after round of "quantitative easing" -- have we managed to put the economy back on a secure footing?
The Obama Administration is transporting Wall Street logic into higher education by proposing to measure the value of a college by the earnings of its graduates. This conceptual coup may be the best news for Wall Street since the abolition of Glass-Steagall.
Our new economic era is characterized by the supremacy of financial capital which vacuums up the productive wealth of the nation, and then uses the nation's wealth as an insurance policy to pay for its inevitable losses.
The president was elected in part on his promise to effect change on the really tough issues, and there was no better time than when the crisis was fresh. I believe that went right out the window when he realized during his first campaign that corporations would throw money at him.
Despite his occasionally populist rhetoric, Obama proved highly solicitous of Wall Street interests at the expense of Main Street, and under the guidance of Summers, the Bush strategy of bailing out Wall Street continued under Obama.
All knowledgeable D.C. types know that the TARP and Fed bailout of Wall Street banks five years ago saved us from a second Great Depression. Like most things known by knowledgeable Washington types, this is not true.
In recent years, we have developed an unhealthy habit of blaming the borrower, but there are two parties in every financial contract -- and the lender is almost always the more experienced, more sophisticated, and more powerful of the two.
Today, much of the "strength, prosperity and well-being" of our hard labor is being siphoned into the coffers of Wall Street. Perhaps, in honor of our labor we should remind ourselves how we are being robbed blind.
The message we're sending other cities as well as our own citizens is it's OK to mismanage all of your money because the government will come riding in on the white horse to save you.