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Banking Crisis

Who Will Your Senator Stand With Now?

Dylan Ratigan | Posted 05.25.2011 | Politics
Dylan Ratigan

Once again, this financial "reform" process has brought into the light our politicians' brazen willingness to aid the same fraudsters who have brought a great nation to its knees.

Shahien Nasiripour

Bank Profits Skyrocket; Big Banks Lead The Way | Shahien Nasiripour | Posted 05.25.2011 | Business

Bank profits soared to their highest level in two years as near-zero interest rates and lower reserves for future losses allowed U.S. banks to book an...

The Transparent Exploitation of Greece By Deficit Hawks

Stephen Herrington | Posted 05.25.2011 | Politics
Stephen Herrington

Does it sound as if S&P thinks cutting government spending is a good idea? Sounds to me like S&P is thinking Keynes while the public face of finance is talking small government voodoo.

USAA Changes its Tune on Financial Reform

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

This week we will see which Senators stand with the Goldman Sachs' of the world and which Senators stand with USAA against unethical and possibly illegal proprietary trading.

Here's an Idea: Make Megabanks Tell the Truth

Andrew Redleaf | Posted 05.25.2011 | Business
Andrew Redleaf

Senator Dodd should stop playing tough guy with the banks and do something they would really hate -- make them tell the truth.

The "Madoff" Plan for Government Finance

Stephen Herrington | Posted 05.25.2011 | Business
Stephen Herrington

Bernie Madoff was not that smart, only ruthless. He, like our global finance system, adapted to conditions as they presented themselves. After all, a Ponzi scheme is not a plan. It will always fail.

Progressive Senators Fight for Real Bank Reform

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

Dodd has said that he will unveil his new bill on Monday. Take your time Senator. Get it right this time. It is not an exaggeration to say that the future of the world may depend on it.

How We Can Save Our Economy

Kevin Zeese | Posted 05.25.2011 | Business
Kevin Zeese

After two years of being asleep at the switch, Congress is finally stepping up and taking action on financial reform. The resulting bill will be a clear indication and definitive proof as to who is actually running our country.

The Speech For Which We Have Been Waiting

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

We need a simple speech and a direct speech -- most of all a political speech -- about what exactly happened to our financial system. Thursday, hopefully, we should finally get the speech.

NY Fed Under Geithner Implicated in Lehman Accounting Fraud Allegation

Yves Smith | Posted 05.25.2011 | Home
Yves Smith

Quite a few observers, including this blogger, have been stunned and frustrated at the refusal to investigate what was almost certain accounting fraud...

Why Is Wal-Mart Selling Capitalism: A Love Story (Out Today on DVD)?

Michael Moore | Posted 05.25.2011 | Business
Michael Moore

The fact that Wal-Mart is carrying this movie is proof that Corporate America is so secure in its position as the ruler of our country that they can sell a movie that attacks them because it poses absolutely no threat to them.

Bank Deform: Dodd Doubles Down on a Losing Bet

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

Watching the devolution of the bank reform bill in the U.S. Senate has been painful. Banking Chairman Chris Dodd's original proposal unveiled last ye...

Invest Like Buffett: Tips From the Oracle

Robert Lenzner | Posted 05.25.2011 | Business
Robert Lenzner

After completing a $26 billion purchase of Burlington Northern Railroad, Buffett is down to his last $20 billion in cash. What will he do in 2010? He always finds a way to make money.

The Real Price of Proprietary Trading

Gerald Epstein | Posted 05.25.2011 | Business
Gerald Epstein

The Volcker Rule must be expanded to significantly help reduce systemic danger. Most important is to expand restrictions to investment banks, as well as to the "shadow" banking and financial world.

Shahien Nasiripour

Fed President: Great Depression Possible If Federal Reserve Stripped Of Bank Oversight | Shahien Nasiripour | Posted 05.25.2011 | Business

The U.S. risks falling into another "Great Depression" if the Federal Reserve is stripped of its bank oversight powers, a top Fed official warned Tues...

Homeowner Road Trip: Rally in Tallahassee

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Activists in Florida will head to Tallahassee on Wednesday, April 21 to convince Florida legislators to stop a bill for non-judicial foreclosures.

Weigh in on FDIC Proposal on Executive Pay

Yves Smith | Posted 05.25.2011 | Business
Yves Smith

The FDIC is seeking public comment on a proposal to link bank deposit insurance premiums to the degree of risk-taking encouraged by the bank's executi...

Congress Needs to Clip Goldman's Wings

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

Like Icarus, Goldman and other big banks who have engaged in these massive deals are flying a little to close to the sun.

Meet The New Chairman of the FED: Charles Darwin

Simon Sinek | Posted 05.25.2011 | Business
Simon Sinek

As if Charles Darwin himself were personally involved, the significant economic dips and downturns we face seem designed to weed out the weak. It's a ...

Suspicious Timing Surrounding The "De-risking" of AIG's Toxic Obligations

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

There is no way that Congress can understand the AIG bailout without carefully scrutinizing the decision making process behind these specific ratings and subsequent downgrades.

Goldman Accused of Rigging "Robin Hood Tax" Vote

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

Not satisfied with bringing the global economy to the brink, Goldman now appears to be devoting time and energy to cyber attacks on bank reform campaigners.

Portrait Of The Banker

The New York Observer | Max Abelson | Posted 05.25.2011 | New York

He is the most extraordinarily typical banker on Wall Street, and he's on the minds of preachers, schoolchildren, shoe salesmen, prosecutors, matchmak...

Congress: The Banks Own the Place. Do They Own Obama Too?

Miles Mogulescu | Posted 05.25.2011 | Politics
Miles Mogulescu

If "no brainer" reforms like bankruptcy reform and student loan reform can't make it through a Democratic controlled Congress, how will more fundamental reforms of the financial system fare?

Groundhogs Day on Wall Street

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

On the day that Punxsutawney Phil emerged to predict a long hard winter, Americans picked up the newspaper to read that AIG, the bankrupt insurance ...

Knife Military Spending: Kill the Deficit

Diane Francis | Posted 05.25.2011 | Business
Diane Francis

If the U.S. had not waged two wars -- Afghanistan and Iraq -- and continued to keep unnecessary military commitments, the deficit and debt situation would not be an issue.