No one wanted to bail out Wall Street. No one wanted to use taxpayer dollars to rescue an industry that helped cause the worst economic crisis in a generation. It was unfair. It was appalling. But it was necessary. We had no other choice.
We asked a group of industry experts and watchdogs to tell us if they thought the government should leverage its stake in Citi to break up the bank -- and if so, how? Our new report provides some interesting answers to these fundamental questions.
Here's the story of a family that had no choice but to stop paying their mortgage. Though they're receiving help from a local nonprofit, it's unknown if they'll be forced out. Their story is one of millions.
Icelandic rage over the Icesave fiasco differs from the "populism" of the Glenn Beck led right-wing in the U.S in that, while Icelanders are standing up to the banks, they are also standing up for each other.
Democrats need to stop feeling sorry for themselves and stop issuing idiotic statements that they can't "mathematically" do anything. "Mathematics" didn't stop Republicans and there's no reason for Democrats to act paralyzed now.
Goldman Sachs and the other major Wall Street institutions are still too big to fail. In fact they are even bigger than before. They should be broken into much smaller entities that are small enough to fail.