We recognize that jails are not known as good places for rehabilitation and reform. We are not talking about that here, however. What we are talking about is a matter of fairness and equitable treatment.
Barack Obama's Justice Department on Monday announced that Citigroup would pay $7 billion in fines, a move that will avoid a humiliating trial dealing with the seamy financial products the bank had marketed to an unsuspecting public, causing vast damage to the economy.
Since time memorial, man has been motivated by an easy buck and short skirts. The recent frenzy of mortgage lenders to repeat the mistakes of history may be upon us again, as some lenders are experiencing 'greed creep' all over again.
Here's a story that resonates with so many layers of bitter irony that it's hard to know where to begin. So we'll start with the headline: "Citi Foundation to Help Teens Find 'Pathways to Progress.'"
Rain. That's what pelted Marco Pereira's boyhood brain, drop by drop by drop time after time, until it finally sank in.
Reputation, brand and image are very important priorities for corporations, organizations and institutions. These characteristics and the products and...
The recent spat between the Federal Reserve and Citigroup underscores the complexity of today's banking balance sheets. The episode is a warning shot across the bows of regulators.
Long term unemployment affects people of all ages and backgrounds; it does not discriminate. Through a holistic approach, workforce development initiatives like Platform to Employment have helped crack the code. But we still have a long way to go -- much more can and needs to be done.
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.
As an anti-corruption advocate, I don't have a position on derivatives trading. What I do have a position on is corruption, and H.R. 992 is a textbook case of the way corruption has turned the People's House into an auction house.
Third Way has a legal right to keep their donations secret, and we have a legal right to give Third Way zero credibility until they disclose their donations.
We have a bill that would roll back protections put in place after the financial crisis that was literally written by lobbyists for one of the major players in that same financial crisis.
Too many of the nation's major institutional investors -- who manage the life savings of working Americans and who are major shareholders in the big banks -- have been silent and passive in the wake of the crisis.
Obama's choice of Summers as chair of the Fed would deal a devastating blow to what little is left of the public's faith that the government will serve the common good and not the ultra-rich. For Summers is the perfect symbol of the insider's game that now dominates Washington.
Banks are corporations, which are legal entities established under rules written by people. Their existence should advance America and Americans. Not the other way around. Many in Congress need to be reminded of that.
Even Sandy Weil, former CEO of Citigroup who led the charge against the remnants of Glass-Steagall in the 1990s, concedes that this was a regrettable mistake -- and argues for all of the biggest banks to be broken up.