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Hedge Funds

Should Taxpayers Continue to Subsidize Goldman Sachs's Alleged Obscenity?

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

Given the current climate on Wall Street, taxpayers may soon decide that just as we don't wish to fund obscenity posing as "art," we don't wish to subsidize "finance" that is simply obscenity.

Hedge Fund Manager Kills Himself To Avoid Ponzi Arrest

Mail Online | Posted 05.25.2011 | Business

A former hedge fund manager shot himself on a Spanish beach to avoid being arrested over an alleged £249million Ponzi scheme. Dieter Frerichs, a Ger...

Arthur Delaney

Bill To Ban Members Of Congress From Becoming Lobbyists Wins Cosponsor In Senate

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011 | Politics

A long-shot proposal to ban former members of Congress from K Street for life won a cosponsor on Monday in Montana Democrat Sen. Jon Tester. "From an...

Obama the Visionless: Flogging the Four Horsemen of the Bureaucracy

Anis Shivani | Posted 05.25.2011 | Politics
Anis Shivani

We are stuck with the checklist president -- the to-do-list president, the carry-over president, the regulation president -- when what we needed was a vision president.

Hedge Funds Getting 'Pretty Sweet Deal' In Financial Reform Bills: Politico

politico.com | Chris Frates | Posted 05.25.2011 | Business

The Private Equity Council and the Managed Funds Association paid lobbyists more than $7.3 million last year and almost $2 million in the first three ...

The Fog Of Reform: Dems Oversell While Tea Party Saves Billions For Hedge Funds

Richard (RJ) Eskow | Posted 05.25.2011 | Politics
Richard (RJ) Eskow

When Democrats oversell this bill they leave themselves open to the criticism that they don't understand what's happening out here on Main Street.

SEC Settles With Fired Lawyer For $775K

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — The Securities and Exchange Commission is paying $755,000 to settle a lawsuit with a former staff lawyer who accused the agency of ...

Why Do We Save Billionaires, but Not Teachers?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

In New Jersey, a state that is home to a bevy of high finance billionaires, with the highest per capita income in the nation, teachers are being sacked left and right.

I'm Marching Today to Make Wall Street Pay

Richard Trumka | Posted 05.25.2011 | Business
Richard Trumka

Our message is simple: Big Banks tanked our economy and took our money when they needed a bailout. Now they're thumbing their noses at our communities but making billions in profits. It's time they pay up.

Goldman Sachs: a Hedge Fund Managed by Traders?

Georges Ugeux | Posted 05.25.2011 | Business
Georges Ugeux

What became completely obvious for all the world to see is that Goldman Sachs is a hedge fund, and that it is only interested in clients as screens for their own proprietary trading activities.

Ex-Goldman Trader Bought Major Stake in ACA, Shorted Subprime CDOs

Kevin Connor | Posted 05.25.2011 | Business
Kevin Connor

The Goldman-Paulson fraud suit threatens to throw a spotlight on a realm of Wall Street that has escaped most scrutiny throughout the financial crisis: the hedge fund industry.

Et Tu Frank Rich? Goldman Sachs and the Death of Journalism

Larry Gellman | Posted 05.25.2011 | Business
Larry Gellman

The feeding frenzy to demonize Goldman Sachs has claimed the last bastions of solid journalism in just a few days.

VAT and The Great Tax Swap

Pat Choate | Posted 05.25.2011 | Politics
Pat Choate

My proposal herein is simple. Eliminate the existing U.S. personal and corporate income tax system altogether and replace it with a VAT -- a great tax swap of historic proportions.

Senate Invites Arsonist to Testify on Cause of Fire... Kind Of

Tom Matzzie | Posted 05.25.2011 | Business
Tom Matzzie

After all that has happened with the financial crisis and the role that short-sellers played in dragging big companies down into the muck, you'd hope the U.S. Senate wouldn't play this role. But it is going on today.

In The Public Interest: Why Do We Let Companies Abandon Ship on Taxes?

Nicole Tichon | Posted 05.25.2011 | Politics
Nicole Tichon

While much of the focus of the BP oil spill has rightfully been on the families, the environment and the businesses affected, it has also allowed anot...

In The Public Interest: An Oil Industry Tax-Dollar Leak No Amount of "Top Kill" Can Stop

Phineas Baxandall | Posted 05.25.2011 | Politics
Phineas Baxandall

President Obama and Congress need to get some serious "top kill" going on the corporate tax loopholes which allow greedy corporations to shirk their responsibilities and billions of dollars to tax bills of those who play fair.

Volcker Rule Under ATTACK!

Bloomberg | Yalman Onaran | Posted 05.25.2011 | Business

Senate negotiators will probably offer changes today that would soften the Volcker rule by allowing banks to sponsor hedge funds and invest their own ...

Will the Real Obama Please Stand Up for Reform? Six Ways to Know if the Financial Reforms Are for Real

Les Leopold | Posted 05.25.2011 | Politics
Les Leopold

Obama's working from a flawed theory: "There is no dividing line between Main Street and Wall Street. We are all in this together as one nation." Really? The entire story of this crisis is about how we are not in this together.

John Paulson Defends His Toxic CDOs by Insulting Everyone's Intelligence

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

There are countless ways to discredit Paulson's recent statements, just as there are countless ways to discredit his claim that he operated in "good faith."

Weekly Audit: How Deregulation Fueled Goldman Sachs' Scam

The Media Consortium | Posted 05.25.2011 | Home
The Media Consortium

by Zach Carter, Media Consortium blogger Last week, the Securities and Exchange Commission filed fraud charges against Goldman Sachs and underscored w...

Goldman and SEC: Why No Settlement?

Jill Schlesinger | Posted 05.25.2011 | Business
Jill Schlesinger

Why hasn't Goldman just settled this thing? Usually litigators inside Wall Street firms argue that fighting is a losing proposition, due to the negative PR and/or potential liability from a loss.

Wall Street Wants Its Name Changed to Casino Canyon?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

Under the rules governing high finance, bankers can win every time. They're essentially serving as "the house" within a vast global casino. That yields a lot more cash than moving the nation's savings into productive investments.

Does Dow 11,000 Mean Total Victory for Wall Street?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

Now that the Dow is shooting past 11,000, Congress has the perfect excuse to pass a pathetic set of watered down financial reforms. Arguments between Democrats and Republicans are for political show. The bankers already have won.

SEC To Hire Experts And Academics, Fewer Lawyers

washingtonpost.com | Zachary A. Goldfarb | Posted 05.25.2011 | Business

Although lawyers fill most of the SEC's ranks, the agency has been hiring experts with specialized quantitative skills and those who have worked on Wa...

In The Public Interest: Close the Loophole. Really.

Nicole Tichon | Posted 05.25.2011 | Politics
Nicole Tichon

On Saturday Night Live, the "Weekend Update" sometimes includes a segment in which Seth Myers and Amy Poehler will report a fairly ridiculous - but tr...