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Too Big to Fail

Summers Down, Fifty Odd More to Go

Charles Ferguson | Posted 05.25.2011 | Business
Charles Ferguson

The appointment of Elizabeth Warren and the departure of Larry Summers will not solve our problems, or even indicate that President Obama is interested in solving them.

Bailouts Don't Work: The Lotto Winners Study

Don McNay | Posted 05.25.2011 | Business
Don McNay

You can see why bailouts fail. Wall Street and lottery winners have a common bond. They have access to easy money without restraints.

The Hangover From America's Bailout Party (VIDEO)

Don McNay | Posted 05.25.2011 | Business
Don McNay

For a decade, Wall Street was playing funny money games, and many Americans also felt like they were invited to the celebration. We were living in fantasy land, but the fantasy is over and we woke up to a nightmare.

Shahien Nasiripour

Megabanks Will Shrink, Bernanke Tells Financial Crisis Commission, Yet Doubts Over Too Big To Fail Remain

HuffingtonPost.com | Shahien Nasiripour | Posted 09.02.2010 | Business

In one of his most definitive statements on the subject to date, the nation's central banker said Thursday that he expects some of the nation's megaba...

Bernanke Tells FCIC: 'Too Big To Fail' Problem Must Be Solved

Posted 05.25.2011 | Business

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the ...

Bernanke to Testify Before Financial Crisis Panel

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — Federal Reserve Chairman Ben Bernanke will testify this week about his role in the bank bailouts that sent billions of taxpayer dol...

Lakeside Bank Is The One New Bank In 2010

The New York Times | ANDREW MARTIN | Posted 05.25.2011 | Business

The only new start-up bank to open in the United States this year operates out of a secondhand double-wide trailer, on a bare lot in front of the cave...

Bill Hurt To Star In HBO Financial Crisis Pic

Deadline | Posted 05.25.2011 | Business

HBO has set William Hurt to play Treasury Secretary Henry Paulson and Curtis Hanson to direct Too Big To Fail, a dissection of the 2008 financial cris...

Gretchen Morgenson: Financial Reform Bill FAILS To End 'Too Big To Fail'

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

After President Obama signs it into law, the nation's financial industry will still be dominated by a handful of institutions that are too large, too ...

America's Hangover From the Bailout Party

Don McNay | Posted 05.25.2011 | Books
Don McNay

I've been reading Maria Bartiromo's new book, The Weekend That Changed Wall Street. A better title might have been "The Weekend that Changed the World." It was America's chance to bottom out. We didn't.

Thomas Hoenig: 'Too Big To Fail' Threatens Small Banks

Posted 05.25.2011 | Business

America's "Too Big To Fail" banking institutions threaten the viability of community banks, a top Federal Reserve official said Monday. In prepare...

Is Main Street Ready for the Second Wave of the Recession?

Don McNay | Posted 05.25.2011 | Business
Don McNay

The phrase "double-dip recession" means little to most of us. To people on Main Street, it hasn't been been a "dip". We took a drop to the bottom two years ago and stayed there.

Shahien Nasiripour

Federal Reserve's Low Rate Policy Is A 'Dangerous Gamble,' Says Top Central Bank Official

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

A top regional Federal Reserve official sharply criticized Friday the Fed's ongoing policy of keeping interest rates near zero -- and at record lows -...

Andrew Ross Sorkin Pays More Than Asking Price For New Apartment

Posted 05.25.2011 | New York

Hopefully Andrew Ross Sorkin did his research before buying his new apartment. The New York Times reporter recently paid $2.315 million for an apa...

Wall Street and Legalized Loan Sharks

Don McNay | Posted 05.25.2011 | Business
Don McNay

If there was ever a shining example of why you should Move Your Money from Wall Street, legalized loan sharking is a good one.

Joseph Stiglitz: Banks 'Gutted' Almost Every Provision In The Financial Bill

ABC | Posted 05.25.2011 | Business

Joseph Stiglitz is a Nobel laureate, a former chief economist of the World Bank and he chaired Bill Clinton's presidential council of economic advisor...

Wall Street Reform: Five Key Fights After the Bill Is Signed

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

The Wall Street bill has much to be said for it, but the unfortunate truth is that it ducks several of the most critical reforms needed to protect our economy from banker abuse.

Weekly Audit: Why Elizabeth Warren Should Head New Consumer Financial Protection Bureau

The Media Consortium | Posted 05.25.2011 | Home
The Media Consortium

by Zach Carter, Media Consortium blogger With the Wall Street reform bill finally cleared through Congress, activists and intellectuals are pushin...

Was "Financial Reform" Really Robin Hood In Reverse?

Don McNay | Posted 05.25.2011 | Business
Don McNay

"Financial Reform" will be a boom for people in the payday loan business. There will be many new customers who need bank-like services. It's almost like Congress implemented a plan of "Reverse Robin Hood."

Wall Street Is Laundering Drug Money And Getting Away With It

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Wachovia Bank is accused of laundering $380 billion in Mexican drug cartel money, and is expected to emerge with a slap on the wrist thanks to a government policy which protects megabanks from criminal charges.

Citi Field: Baseball's Symbol of Why You Should Move Your Money

Don McNay | Posted 05.25.2011 | Business
Don McNay

Houston was able to find a stadium sponsor to replace Enron. A city as big as New York should be able to find a sponsor for the Mets' field that is not funded by the American taxpayers.

Banks Must Be Barred from Dealing Derivatives: It's NOT a Normal Part of the Business of Banking

SAFER | Posted 05.25.2011 | Business
SAFER

Jane D'Arista and Gerald Epstein Political Economy Research Institute (PERI), University of Massachusetts, Amherst and Coordinators of SAFER The furo...

Shahien Nasiripour

Mutual Fund To No Longer Invest In 'Too Big To Fail' Banks

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

A top-ranked mutual fund will no longer invest in "Too Big To Fail" banks, announcing Thursday it would extend a prohibition already in place against ...

Wall Street Dodged Financial Regulation, Says Banking Exec

The New York Observer | Max Abelson | Posted 05.25.2011 | Business

I asked him about how seriously Wall Street takes the upcoming financial regulation. "It's taken seriously only how it could impact profits, not taken...

Congress Goes to Bat for Wall Street

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

No matter what else is ultimately enacted in the name of Wall Street reform, Congress decided last night that it will not confront the single greatest problem in the U.S. economy: Too Big To Fail.