All six banks that received a special Fed "subsidy" have also averaged at least $2.7 billion in lobbying a year for the period 2008-2010.
As we ring out what has been a pretty lousy year for most of us, Wall Streeters are all aglow -- thoughts turning to sugar-plum fairies dancing in their brains, bearing bundles of spring bonuses.
The social ideals that once animated the European project are dissipating fast. The current crisis and the resulting austerity measures have served to further Americanize Europe through privatization, reduction of government services, and the like.
While the trouble with the global economy may seem safely quarantined by the Atlantic Ocean and the boundaries of the European Union, Americans should be on high alert, because things could go from bad to unimaginably bad with one bad economic resolution "over there."
Force the banks to go back to traditional banking. If that means turning them into non-profits, so be it. But there is no way to justify allowing them to continue to bilk average American customers, not to mention risking driving the global economy off the cliff again.
Why has Robert Rubin, the onetime treasury secretary who went on to become Citigroup chairman during the time of the corporation's financial shenanigans, never been held accountable for this and other deep damage done to the U.S. economy on his watch?
Europe does not require a new narrative. The only task in front of us is the defense of "never again." Our historical vision must expand to include another pastime of European states: debt-financed budgets.
Stop the revolution, I want to get off! Revolution is nigh and this time it's not the product of the misguided anger of the Tea Party! This one is '...
Bank of America is moving $75 trillion of highly risky derivative contracts "from its Merrill Lynch unit to a subsidiary flush with insured deposits." The FDIC is screaming bloody murder, but the Federal Reserve wants to let them do it.
None of us --- neither the one percenters nor the 99 percenters --- can either ignore or deny the ripple of unrest disturbing the calm of America's social waters in the form of the Occupy Wall Street movement.
To achieve meaningful reform, there is no substitute for keeping the pressure on so that when the cracks appear, there are enough people -- a movement -- to open the crack wider and make possible what previously seemed unthinkable.
Think of Iraq as the AIG of wars -- the only difference being that the bailout there didn't involve just three payouts. More than eight years after the Bush administration invaded that country, the bailout is, unbelievably enough, still going.
Funny, he doesn't look like Marie Antoinette. But when former New York Times Executive Editor Bill Keller asks his readers if they are "bored by the soggy sleep-ins and warmed-over anarchism of Occupy Wall Street," it displays the arrogance of disoriented royal privilege.
The markets expect a Greek default and time is running out. However, banks still haven't recognized enough of this loss, highlighting the pent-up risk in the sector.
The Government Accountability Office says that our government has handed out $16 trillion to the banks. All of that money went from you and me to the banks. And we got nothing. Not even a toaster.
To the young men and women who are braving the overreaction of local authorities to raise their voices against the corruption and manipulation of our nation that emanates from Wall Street: I say to you that your presence is making a difference.