Instead of taking this opportunity to reform, the industry's big players appear to be digging in, and continuing to use their revenues -- about 86 percent of which come from taxpayers -- to engage in lobbying and propaganda aimed at convincing the public that everything is fine.
The House of Representatives, where Congress gathers to hear the president, used to be known as "The People's House." But money power owns the lease now and runs the joint from hidden back rooms.
Everyone seems to agree that healthcare is failing and that costs are too high. It isn't, and they aren't. Healthcare is keeping us healthier longer than ever before, and the costs are skyrocketing because so too is demand.
In the end, it doesn't matter whether these folks are Democrats or Republicans, nor whether they are operating at the highest levels of government or banking -- they take care of their own.
This week, politicians, writers, activists and nonprofit leaders are gathered in Davos, Switzerland for the 43rd annual meeting of the World Economic Forum. While the issues to be addressed range from healthcare to regulation to the environment, the two of us share an interest in one particular topic -- economic growth and job creation. The Huffington Post and Goldman Sachs come at this issue with different perspectives, but a common goal. So today, our two organizations are joining forces to examine what entrepreneurs are doing to drive growth around the world and apply the lessons we have learned. Based on the experience of Goldman Sachs' 10,000 Women initiative and HuffPost's commitment to showcasing "What Is Working," we are appearing together today in Davos to open up the conversation about helping to build a global economy that not only grows but also provides much greater opportunities and prosperity to women and men alike.
See, folks, this right here is an example of how the rest of us playing checkers while Goldman Sachs is playing three-dimensional chess.
Angry about your paycheck shrinking this year because the payroll tax cut expired? Well, this should cheer you right up: Goldman Sachs's CEO got a 75 percent raise this year.
It appears that the big government hand that "fed" AIG slipped in a few doses of poison as well as sustenance, and then diverted some of that sustenance to AIG's big bank counterparties. To borrow a Taibbi term of art, sometimes it takes a vampire squid to beat a vampire squid.
Big Money, as Krugman writes in his book, buys Big Influence. And that's why the financiers of Wall Street never truly experience regime change -- their cash brings both political parties to heel.
Forty more corporate CEOs, including JetBlue's, have joined a covert lobbying group for Wall Street, billionaires, and the defense industry called "Fix the Debt," in an effort to maximize their own already-swollen bank accounts by destroying your financial future.
Greg Smith's NYT op-ed created quite a stir. But as a Goldman Sachs "alum," I believe nowhere else has such an abundance of smart colleagues, the ability to innovate and set gold standards, and management that gets it right far more often than they get it wrong.
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.