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.
It's offensive that it is now considered criminal activity to peacefully protest economic inequality. But it's disgusting that our government is letting real terrorists and criminals get away while going after the very people trying to make things right.
Many of America's big for-profit colleges spend more on advertising and high-pressure recruiting than they do on educating students -- a key reason why so many of their students drop out and end up with insurmountable debt.
In reality, the Volcker Rule will mean no change, no closure of business divisions, no costs from foregone financial activity, for more than 99.9 percent of banks.
How can companies actually focus on anything more than just next quarter's results? We're not just talking about a PR campaign or a new mission statement. We're talking about a new way of doing business. We're talking about deep change.
The pathetic representation of women at the highest levels of corporate life isn't the result of some sinister plot by men, it's because we don't know how to harness our own power correctly
Blankfein watchers have been treated to a flurry of sightings during the last few weeks. The formerly reclusive CEO has been popping up Zelig-like all over town and the press has taken note.
Working Americans are paying the price as the parameters of the current debate around the deficit, budget and the so-called fiscal cliff are being defined by the likes of Goldman Sachs. There can be little doubt that working people are not represented in Washington.
Not to be all elementary, or more accurately pre-schooly, but are we really going to let our tax policy be determined by a guy named Grover? You've got to be kidding me.
Selecting Jamie Dimon would be a gift to the powerful investment bank constituency plying their trade already in the all too comfortable niche of 'too big to fail.'
In the name of "fiscal responsibility," the self-interested CEOs animating Fix the Debt are pushing a deficit reduction plan that would lower taxes for corporations and the super-rich while slashing programs central to the middle class and those working their way into it.
On the same day that Goldman Sach's CEO issued his "balanced" demand for Social Security and Medicare cuts, the Wall Street-funded group called "Third Way" published the results of a poll which precisely reflected those wishes. Coincidence?
Goldman's foray into the world of sub-prime mortgage servicing is one that company executives would like relegated to the dumpster along with the water-logged sandbags that shielded their New York HQ from the ravages of Hurricane Sandy.
Just like all long-term relationships, the qualities which first attracted Greg Smith to Goldman Sachs now seemed wrong instead of right. Who or what had changed: Greg Smith or Goldman Sachs?
After flat markets during an abbreviated super-storm week, the Dow rallied about 250 points on Monday and Tuesday. Wednesday saw stocks open lower and continue lower. The 250 point gain of the previous two days was wiped out, plus an additional 60 or so points for good measure. Why?
The reality is that the current system of taxation created by Ronald Reagan and put on steroids by George W. Bush is working quite well for Pete Peterson and his fellow oligarchs.