Financial Collapse

Mitt Romney and the Wealth Answer

Mark Cassello | Posted 04.20.2012

Read More: Social Class, 2008 Primary, Rush Limbaugh, Financial Collapse, David Brooks, Mitt Romney, Wealth, Diane Sawyer, 2012 Primary, Barack Obama, Romney Relatability, Romney Wealth, Romney 2012, Video, Politics News

It is not Romney's wealth that makes him unable to relate. It is his incapacity to acknowledge the privileged position from which he began.

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Ex-Banker Writes 'Cautionary Tale' Based On The Hobbit

Reuters | Posted 04.21.2012

Read More: The Hobbit, Video, Washington Mutual, Paul Erickson, Washington Mutual Collapse, Reuters, Business News, Paul Erickson Wamu Worker, Financial Collapse, Business News

By Lou Carlozo CHICAGO, April 20 (Reuters) - Since T.S. Eliot's brief career at Lloyds Bank of London, the connections...

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In Detroit, Democracy Takes Back Seat To Financial Rescue

HuffingtonPost.com | Janell Ross | Posted 04.09.2012

Read More: Detroit Financial Crisis, Washington D.C., Financial Control Board, New York, Detroit Consent Agreement, Financial Collapse, Financial Control, Detroit Financial Advisory Board, Financial Oversight, Municipal Bankruptcy, Detroit, Rick Snyder, Detroit Politics, Business News

With Detroit in apparent free fall, city officials voted this week to install a nine-member financial control board with the authority to approve the ...

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Michael Lewis: It's A Bad Idea To Give Millions To 24 Year-Olds Who Don't 'Know Anything Really'

Posted 03.01.2012

Read More: 2008 Financial Crisis, Wall-Street-Pay-Cuts, Video, Young Wall Street, Michael-Lewis-Liars-Poker, Business News, Michael Lewis, Wall Street Pay, Wall Street Bonuses, Financial Collapse, Business News

When the history books make their judgments about pre-crisis Wall Street, they'll come down hard on those salaries for twenty-somethings -- at least a...

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Lehman Brothers Suing Citi Over Huge Account

AP | Posted 02.10.2012

Read More: Lehman Brothers Holdings Inc., Debt, Investment Bank, Video, U.S. Bankruptcy Court, Citibank, Financial Crisis 2008, Citigroup, Financial Collapse, Business News

NEW YORK -- Lehman Brothers Holdings Inc. and its creditors are suing several units of Citigroup Inc. to recover $2.5 billion the failed investment ba...

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Sacrilege: Wall Street Worship

Leo W. Gerard | Posted 12.31.2011

Americans have been worshiping a bull. Too many citizens, and particularly politicians, prostrate themselves to Wall Street's bronze idol.

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Heidi's Bar: A Metaphorical Tale Worth Sharing

Kenneth F. Bunting | Posted 12.05.2011

Read More: Junk Bonds, Bond Market, Heidi's Bar, Understanding the Financial Collapse, Understanding Derivatives, Irs, Humor, Derivatives, Financial Crisis, Real Estate Bubble, Bank Bailout, Financial Collapse, Business News

I do not know who wrote the contemporary fable about "Heidi's Bar," being spread through email blasts and Facebook postings. It wasn't me. I am neit...

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Another Systemic Dislocation:The International Banking System Again on the Brink

Asher Edelman | Posted 11.27.2011

Read More: Commodities, Mortgage Derivative, International Banking, Silver, Banking Crisis, Gold, Taxpayers, Banking Community, Financial Collapse, Mortgage Crisis, Business News

Since January it has become more and more apparent that the commodities exchanges, commodities brokers and banks are running "short" or even running "out" of physical gold for delivery.

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Countrywide Covered Up Massive Fraud, Former Employees Say

iWatch News | Posted 11.22.2011

Read More: Brian Moynihan, Countrywide Home Loans, Subprime Mortgages, Countrywide, Great Recession, Bank of America, Eileen Foster, Financial Crisis, Kenneth Lewis, Angelo Mozilo, Countrywide Cover-Up, Financial Collapse, Business News

In the summer of 2007, a team of corporate investigators sifted through mounds of paper pulled from shred bins at Countrywide Financial Corp. mortgage...

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FDIC Considers Revoking Pay From Executives Responsible For A Failed Financial Company

Bloomberg News | Meera Louis | Posted 05.25.2011

Read More: Bankruptcy, Fdic, Lehman Brothers, Federal Deposit Insurance Corporation, Dodd Frank Act, Financial Reform, Financial Collapse, Business News

March 15 (Bloomberg) -- The Federal Deposit Insurance Corp. is seeking comment on a measure that may subject executives and directors to clawbacks of ...

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A Full Employment Act for the 21st Century

Brian Czech | Posted 05.25.2011

Read More: Gas Prices, Steady State Economy, Unemployment, Herman Daly, Full Employment Act, Climate Change, Fiscal Crisis, Jobs, Sustainability, Economic Growth, Gdp, Financial Collapse, Politics News

We need a steady state revolution to move from the old, unsustainable goal of economic growth to the new, sustainable goal of a steady state economy.

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Notes of an Ex-Pat 1: View From the Bridge

W. Hunter Roberts | Posted 11.17.2011

Read More: American Culture, European Economy, European Culture, Ex-Pat, Fidesz, Financial Collapse, Rudeness, Lunar Eclipse Winter Solstice, Civility, Healthy Living News

From my window I see sheets of ice floating down the Danube. It's mid-winter, and I am finally here in Budapest. Last week I went with a Hungarian law...

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2010: The Year In Wall Street Whining To Politico About Their Hurt Feelings, Mostly Anonymously

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011

Read More: Eat the Press, Financial Regulatory Reform, Politico, Wall Street, Media Criticism, Perspective or the Lack Thereof, Anonymous Sources, Barack Obama, Financial Collapse, Video, Media News

You know, the other day, when I remarked that Politico's story "another piece in a continuing series" of "Wall Street people whining," I wasn't kidding. A whole lot of times, actually.

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Wall Street Execs Whine To Politico About Their Hurt Feelings

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011

Read More: Financial Regulatory Reform, Politico, Barack Obama, Perspective or the Lack Thereof, Media Criticism, Eat the Press, Wall Street, Financial Collapse, Media News

Wall Street is sad, and its recent record-setting profits are no comfort. Should I begin by assuaging their fears? If we define "pro-business" as "a policy that would allow investments to be made in an actual physical business, spurring economic growth and jobs development," and not "policies that allow Wall Street to return to a regime of creating non-productive casino games based upon the amount of moneydust that can be leveraged from rubbing two ten-dollar bills together to create an ornate daisy-chain of swaps," then we are never going to issue a discouraging word!

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Joseph Stiglitz on Gordon Brown

Robert Teitelman | Posted 05.25.2011

Read More: Gordon Brown, Joseph Stiglitz, Bear Stearns, UK, Prime Minister, Henry Paulson, Financial TImes, David Cameron, Slate, England, President Obama, Tim Geithner, Tory, Ben Bernanke, Financial Collapse, Business News

We may never know for certain whether former Prime Minister Gordon Brown was the great and magnanimous hero of Stiglitz's telling or a figure brought low by forces he failed to foresee.

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You Say You Want a Constitution?

Silja Bára Ómarsdóttir | Posted 05.25.2011

Read More: Constitutional Convention, Constitution, Social Experiments, Iceland, Single Transferable Vote, Johanna Sigurdardottir, Pots and Pans Revolution, Proportional Representation, Sovereignty, Banking Crisis, Financial Collapse, World News

The Beatles' song "Revolution" has been in my mind all day. That's because this morning I woke up as a newly elected representative to the country's new constitutional assembly.

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The Problem Is Not Jon Stewart

David Paul | Posted 05.25.2011

Read More: Ronald Reagan, Rush Limbaugh, Jon Stewart, George W. Bush, Sarah Palin, Health Care Reform, Tax Cuts, Glenn Beck, Medicare, Financial Deregulation, Stimulus, Congressional Budget Office, Tea Party, Tarp, Financial Collapse, Politics News

Those who suggest that Jon Stewart crossed a line should open their eyes and behold the new world. No one questions whether Glenn Beck is in the business of entertainment. Or politics. Or news.

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Krugman's Takedown of Ryan Demonstrates How Conservatives Are at War With the Middle Class

Mitchell Bard | Posted 05.25.2011

Read More: John Boehner, Aid to Ground Zero Workers, Deficits, Financial Reform, Dan Maes, George W. Bush, Middle Class, Bush Tax Cuts, Michelle Bachmann, Tax Cuts for the Rich, Conservatives, Tax Cuts for the Wealthy, Paul Krugman, Newt Gingrich, Obama Socialist, Tea Party, Paul Ryan, Wealth Redistribution, Birthers, Bob Inglis, Aid to States, Obama Born in United States, Democrats, Real Income, Barack Obama, Recession, John Kyl, Financial Collapse, Steve King, Sarah Palin, Deregulation, Alan Greenspan, Extension Bush Tax Cuts, Sharron Angle, Republicans, Third-World-America, Third World America, Politics News

Beginning with the Reagan administration, and reaching its fullest realization under George W. Bush, conservatives have systematically been acting to redistribute wealth from the middle class upward.

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Reagan Was Wrong: The Nine Most Terrifying Words Are, "I'm a Libertarian and the Market Will Save You"

Mitchell Bard | Posted 05.25.2011

Read More: Bill Clinton, Securities Exchange Act of 1934, Obama Muslim, Tea Party Racism, Rush Limbaugh, Ronald Reagan, Financial Reform, President Obama, George W. Bush, Enron, Credit Rating Agencies, Franklin Roosevelt, Libertarian, Gulf Oil Spill, Financial Collapse, Obama Birth Certificate, Tea Baggers, George H.W. Bush, Deregulation, Securities Act of 1933, Fox News, Free Market, Socialism, Tea Party, Glass-Steagall, Politics News

I don't agree with Reagan. I'm not scared of the government trying to help. But I am terrified of an unfettered free market.

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It's the Derivatives, Stupid

Cenk Uygur | Posted 05.25.2011

Read More: Casinos, Rush Limbaugh, Financial Reform, Derivatives, Cds, Regulation, Las Vegas, Financial Collapse, Collateral, Berkshire Hathaway, Wall Street, Banks, Warren Buffett, Gop, Naked Cds, Financial Regulation, Business News

The entire world GDP is a little over $60 trillion. The secret, unregulated casino market of derivatives is worth $605 trillion. Now, who thinks that makes sense?

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Holder: More Trials Coming For Those Responsible For Economic Collapse

HuffingtonPost.com | Sam Stein | Posted 05.25.2011

Read More: Housing Market Collapse, Holder Investigations, Eric Holder, Holder Judiciary, Holder White Collar Crime, Financial Collapse, Financial Collapse Holder, Business News

Attorney General Eric Holder said on Wednesday that he expects to see an increase in the number of trials for those who may have engaged in illegal ac...

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How Simple (and Human) Is Your Customer Service?

Ron Ashkenas | Posted 05.25.2011

Read More: Hospitality, Technology, Danny Meyer, Customer Experience, Customers, Customer Satisfaction, Customer Service, Financial Collapse, Business News

Simple and human customer service doesn't have to be difficult or expensive. But without it, customers won't have the loyalty to stay with you through tough times, which carries an even greater cost.

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Senate Vote Signals Historic Change in Wall Street Political Clout

Robert Creamer | Posted 05.25.2011

Read More: Derivatives, Senate Wall Street Reform Bill, Wall Street Reform, Economic Recovery, Recession, Power of Wall Street, Republicans, Financial Collapse, Business News

For four decades Wall Street had its way with American government. The big Wall Street banks and their economic apologists dominated the main stream of economic thought. Last night their domination came to a screeching halt.

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A Virtuous Tax

Robert Kuttner | Posted 05.25.2011

Read More: James Tobin, Populism, Adair Turner, Tobin Tax, Financial Regulation, Peer Steinbrueck, Financial Collapse, Politics News

A little bit of populist retribution is overdue against the people who brought down the system -- and will bring it down again if the hegemony of the traders is not constrained.

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Obama Should Stop by Taleb's Historic Congress Testimony

Pablo Triana | Posted 05.25.2011

Read More: Committee-on-Science-and-Technology, Value-at-Risk, Bailout, Recession, Financial Collapse, Business News

To my knowledge this is the first time that a financial theory is put on the spot like that, the inevitable consequence of having endured a theory-caused meltdown of biblical proportions.

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