There are plenty of media types who blame last year's implosion and the bailout on greedy bankers, but that's only part of the story. Wall Street needed a co-conspirator; namely, the government.
Often, people will look at a high-profile example of corruption, and conclude that the egregious act is an exception to the rule. In reality, it might be the tip of the iceberg.
With the announcement of record Wall Street bonus pools and rising credit card fees, it is time to sit back and see where we go from here.
Women like Brooksley Born have a long history of being whistle-blowers in systems dominated by men. Perhaps this time Congress -- and the American people -- will listen.
Open the phonebook and randomly pick the name of a stockbroker or a bank president. Call that person and ask them to explain to you how a synthetic or a derivative actually works.
Two ideas are floating around Washington regarding how to handle 'too big to fail' banks, but only one is supported by the Treasury and the White House. Unfortunately, it's the wrong one.
Yesterday afternoon, more than 1,000 people from 20 states came by bus, train, and plane to the Showdown in Chicago to deliver the message "Enough is ...
Yes, a quick round of applause for Feinberg for cutting our financial wards' CEO pay. But hold off on the standing ovation; the Obama era does not need a "Mission Accomplished" moment.
In New York, the oldest and snobbiest financial ventures are called "white shoe" firms. Their arrogance, risky investments and confounding dealing in derivatives threw the rest of us into the Great Recession.
Until our elected officials know there is a price to pay for siding with big money over everyday people, the average American will continue be on the losing end.
Feinberg is not cutting total compensation, he's changing the composition of pay packages -- less cash, more stock with longer vesting periods. In other words, the top guys will have more skin in the game.
American capitalism has now become rotten to the core. Gone is the American capitalist impulse's unique sense of fair play and adherence to a level playing field, accessible to all.
While Congress is calling on credit card companies to stop hiking interest rates before the new Credit CARD act goes into effect, Citigroup just sent me a letter with a monstrous interest rate hike.
Twelve months removed from the forced bailout of financial institutions by US taxpayers, Goldman Sachs is back to paying its employees an average annu...
The decision by China to stop buying U.S. government debt may not harm the economy's recovery, but it could be devastating to the recovery efforts at Citigroup.
Goldman was not assisted by the government to become a voracious and even heftier investment bank. Rather, one can presume that the government's assistance was to prevent systemic failure.
American-style capitalism is the system that gives you pilots buying groceries with food stamps and sheriffs throwing families out of their homes. President Obama, it's time for a "new" New Deal.
Jilting the 401(k) to return to the old-fashioned pension, like going back to your spouse after a fling, is not an option. You need something that combines features of both.
Citigroup sold their Phibro commodities unit to Occidental Petroleum for $250m. That is a pittance. So why would Citi give its assets away at such bargain basement level?
These 21st century banks have become deadly, systemically risky dominoes that can crush us all if they fail, or can bankrupt us all with debt if we have to bail them out.
On a throwback vibe, you could say that Capitalism: A Love Story is the bomb. By exploring the economic system of capitalism as an evil, Moore fires a salvo into the heart of America's social machine.
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