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Financial Fix

Bernanke: I'd Defend Financial Crisis Decision To My 'Deathbed'

Bloomberg | Scott Lanman | Posted 05.25.2011 | Business

"I will maintain to my deathbed, that we made every effort to save Lehman, but we were just unable to do so because of a lack of legal authority," Ber...

Time to Dismiss the CFTC Chairman and His Commissioners

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

The Dodd-Frank Act gave the CFTC until January 2011 to set limits to curb excessive speculation in the energy markets. Lo and behold, Chairman Gensler told lawmakers the CFTC wouldn't meet the deadline "because it doesn't yet have sufficient data."

America's Anger at the Great Financial Bailout and the Press' Continuing Inability To Understand Why

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

What galls most Americans is the manner in which Wall Street rewarded itself after it was the public that took the risk of bailing them out.

The President's Misdirected Class Warfare

Raymond J. Learsy | Posted 05.25.2011 | Politics
Raymond J. Learsy

It is not whether families earning $250,000 are paying more or less taxes that is of visceral concern. The public still feels they have been held up and the Wall Street perpetrators are laughing all the way to bank.

Krugman Takes On the Angry Rich But Misses Their Pompous Pieties

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

One set of rules for Wall Street, one set of rules for Main Street. What's wrong with this scenario? Something very basic to what once was our understanding of America.

"Its Not About the Money" -- If Only the Texas Wyly Brothers Ran the SEC

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

The SEC, fresh from their cream-puff settlement with Goldman Sachs, turned around last month and laid a 78-page complaint on the Wyly Brothers, alleging that the billionaire businessmen committed all manner of misconduct.

Quo Vadis Goldman Without Expletives!?

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

Now the dilemma is, without proper clarity, without language and argot that clearly defines what Goldman has brewed in the way of financial engineering for the less wary to gobble up, how will they communicate with their trading desks?

Scott Brown's Opposition To Bank Fee Throws Wrench In Wall Street Reform

AP/Huffington Post | JIM KUHNHENN | Posted 05.25.2011 | Business

WASHINGTON (AP) -- Top Democratic House and Senate negotiators who worked out a deal on a sweeping overhaul of financial regulations regrouped Tuesday...

George Voinovich May SUPPORT Wall Street Reform Vote

Huffington Post | Nico Pitney | Posted 05.25.2011 | Politics

Sen. George Voinovich may switch his vote and help Democrats advance their Wall Street reform bill tomorrow, the Ohio Republican told CNN on Tuesday. ...

GOP Filibusters Wall Street Reform For Second Straight Day; Obama: 'That's Not Right!'

AP/The Huffington Post | Posted 05.25.2011 | Politics

WASHINGTON -- Senate Republicans, attacked for twice blocking legislation to rein in Wall Street, floated a partial alternative proposal Tuesday and s...

The Consensus on Big Banks Shifts, But Not at Treasury

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

Top Obama administration officials refuse to change their opinions in the slightest; they have dug in behind the idea that they represent the moderate center on banking policy. This is a weak position.