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.
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?