Many progressives equate the word "compromise" with "sell-out," but the strategic question is whether compromises are dead ends or stepping stones to further progress.
This summer, Wells Fargo paid $175 million to settle federal accusations that it steered black and Latino borrowers into high-cost loans and charged them excessive fees. Is Wells trying to make amends for its racism by increasing investment in communities of color? No.
If the economy continues to grow, the president's second term will be a victory, period. That means the Republicans actually have to make sure it goes wrong. To accomplish this goal, the Republicans seem to have settled on two angles of attack.
Maybe the Department of Justice and our financial regulators should not rely on internal investigations performed by the financial institutions suspected of misconduct.
The HSBC money-laundering settlement demonstrates conclusively that the Dodd-Frank reforms have not ended so-called "Too-Big-to-Fail" problem. The outrage about HSBC getting off so lightly has been too narrowly focused.
Last week the Dept. of Justice decided against indicting British bank HSBC, despite clear evidence of crimes, including laundering billions of dollars for repugnant governments, including state sponsors of terrorism. Instead, the DOJ settled for about five weeks of HSBC's profits.
Any manager remotely associated with the demise of the nation's largest bank might seem an unlikely choice to head the SEC. Yet Sallie Krawcheck, the woman who served as CFO of Citigroup in the run-up to the 2008 financial crash, is now on a short list of candidates.
Mary Schapiro's legacy as head of the Securities and Exchange Commission will be that the agency did not become entirely useless on her watch -- although that is maybe the best you can say about it.
The CFPB, conceived by now Senator-elect Elizabeth Warren, is a very rare animal -- a bona fide start-up within the Federal Government. Don't snicker.
While policymakers in D.C are currently focused on keeping the country from falling off the fiscal cliff at the end of the year, we want to make sure that the White House doesn't forget about some items sitting on the back burner. These are items that are very important to American consumers.
Will Jamie see how self-defeating such an approach and attitude ultimately is? Will Wall Street move even lower in the opinion of the American people? Those are the questions confronting Jamie and Wall Street at this electoral cross roads.
Barack Obama's supporters understandably feel uplifted by his reelection. Chants of "Four more years" have been matched by the hope that Obama will finally be able to complete his agenda during his second term. In reality, the public reelected Obama without giving him the clear means to do so.
Consumer frustration has only grown in the year since Bank Transfer Day as bank fees have continued to rise. It's time to make it easier for consumers to move their money so they have a real choice when it comes to where to bank.
The frustration of those of us arguing for pragmatic reforms and unbiased research should be evident. I am thankful that here in the United States, the SEC has at least begun to realize the need for more independence in its research and panels, and I hope that trend continues.
Unleashing a deregulated Wall Street again will only make the next crash and crisis inevitable. Unfortunately, it'll likely be much worse next time than it was this time, which cost or will cost more than $12.8 trillion.
As sales metrics improve month by month, economists seem to agree that residential real estate is awakening from its 36-month slumber. That being said, buyers and sellers are well advised to accept the uncertainties of the market and compromise.