If McConnell-style deceit about the financial reform bill continues in the Senate, serious regulatory reform won't happen. Half measures won't work. Only robust financial reform will end Wall Street's freedom to deceive.
As the trial approaches, destroy the evidence.
Former CEO of Lehman Bros. convenes a fiscal summit for aggressive cuts in Social Security and Medicare benefits. In a hard times economy, we need to protect Social Security's future.
A source told me to check out who the head of ACA was married to. "I think you'll find it's a senior woman at Goldman Sachs," he said.
We're not saying that everyone has to agree with everything we say about these pictures. But they make clear what kind of financial system we have today. And they need some kind of explanation.
Discouraging news from Washington today. It seems like the enemies of the benign free marketplace are set to triumph over the protectors of the right of every American to get hosed by an unregulated banking industry.
So here we go again. To uncover the real culprits of the current euro crisis we first have to follow a common thread of this crisis -- government borrowers who need capital hire bankers.
What we need is a change in the conventional wisdom in Washington, away from the idea that what is good for Wall Street is good for America, and toward the idea that we should be skeptical of the megabanks.
Greenspan will attempt to obfuscate. He will condescend, lecture, and distract. For the sake of the country, and to understand how we arrived here, the Angelides Commission must not allow that to happen.
It will not be easy for ordinary citizens to defeat the entrenched interests on Wall Street and in Washington, but things certainly won't change unless we take up the challenge.
Does it seem right to you that a state's ability to stay afloat should be the stuff of secretive betting pools? That's just what's happening. While st...
If you want to understand the economic crisis, there are several hundred 250-page books for you to read. If, on the other hand, you want a one-page explanation, this is it.
Madoff is lonely. I am sure the federal penitentiary can squeeze in more bunk beds to accommodate his friends from Wall Street. But it's not going to happen until the FBI and the DOJ are given the resources they need.
Even if financial reform is enacted without loopholes, there's no reason to think it will be enforced if laws already on the books, such as Sarbanes-Oxley, aren't.
The SEC and FED were inside Lehman Brothers for the last six months of its life. How did they miss all this?