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Too Big to Fail

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...

Shahien Nasiripour

Geithner Admits Regulatory Failures, Reiterates Support For Empowering Regulators

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Treasury Secretary Timothy Geithner and the Federal Reserve's longest-serving top official reiterated their calls Thursday to rein in the nation's fin...

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.

Arthur Delaney

St. Louis Union Withdraws $100,000 From 'Unethical' Bank Of America

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011 | Business

A St. Louis union dumped Bank of America on Friday morning, closing a $100,000 account to spank the bank for its bailouts, bonuses and foreclosures. ...

Those Opposed to Breaking Up the Banks Receive Double the Funds from Industry

Tiffiniy Cheng | Posted 05.25.2011 | Politics
Tiffiniy Cheng

We're conducting a whip count on the SAFE Banking Act amendment to the financial reform bill right now. You can help.

'13 Bankers' LIVE Video Interview Tomorrow, May 7, 2pm EDT: Simon Johnson Talks To HuffPost Senior Editor Marcus Baram

Posted 05.25.2011 | Books

Our month spent discussing "13 Bankers," Arianna's most recent book club pick, has been a busy one. Since its release, Simon Johnson and James Kwak's ...

Reading In Public: What Are People Reading? (PHOTOS, POLL)

The Huffington Post | Amy Hertz and Jessie Kunhardt | Posted 05.25.2011 | Books

Love reading books and trying to figure out what to pick up next? Look no farther than the person sitting next to you anywhere in public. Instead of l...

Break Up the Banks: By the Numbers

Robert Weissman | Posted 05.25.2011 | Business
Robert Weissman

It's past time to break up the big banks. They take on too much risk and endanger the financial system. They have far too much political influence and threaten our democracy.

Ryan Grim

Dodd: We Have A Deal On 'Too Big To Fail' Banks

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Business

Lead Senate negotiators have reached a deal on the portion of the Wall Street reform bill that deals with banks considered "too big to fail", Sen. Chr...

The Senate Should Debate "Too Big to Fail" On Live Television

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

It's always so much easier to cut deals in the backroom, isn't it? That way politicians don't have to be held accountable for their actions. The bank lobby is clearly frightened of the democratic process... and it should be.

Fake Debate: The Senate Will Not Vote On Big Banks

The Baseline Scenario | Simon Johnson | Posted 05.25.2011 | Business

A real debate, in the modern American system, needs a vote on something specific - in this case, an amendment to the main legislation. And Senator Ka...

Ryan Grim

Durbin, Number Two Senate Democrat, Backs Breaking Up Banks

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Politics

Dick Durbin (D-Ill.), the Senate's number two Democrat, took to the floor Tuesday to back an amendment to Wall Street reform that would break up big b...

Moving our Money in Somerville

Joe Grafton | Posted 05.25.2011 | Business
Joe Grafton

An emerging body of economic research shows that doing business with local independents is the fastest way to restart and reshape our economy.

13 Bankers: Why It's Essential That Universities Return To Teaching Economic History

Mark Thoma | Posted 05.25.2011 | Books
Mark Thoma

13 Bankers is essential reading for any economist who wants to understand what triggered financial panics in the past, what policies worked or failed and why, and how it relates to today.

J.P. Morgan Still Hates the Economy

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

J.P. Morgan's Chief Economist James Glassman recently indulged in a vaguely worded assault on financial reform, arguing that Congress is about to ruin the economy by cracking down on Wall Street. Don't believe a word of it.

Wall Street Reform Gets A Push From The Left

AP | JIM KUHNHENN | Posted 05.25.2011 | Business

WASHINGTON — Liberal Senate Democrats who until now were on the sidelines are complaining that a pending financial overhaul bill backed by Presi...

Too Big To Jail? Executives Unscathed As Regulators Let Banks Report Criminal fraud

Huffington Post Investigative Fund | David Heath | Posted 05.25.2011 | Business

Republished from the Huffington Post Investigative Fund. The financial crisis has spawned hundreds of criminal prosecutions for alleged fraud. Yet ...

'Most Observers' Do Not Agree With Larry Summers On Banking

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

The following also appears on BaselineScenario.com What is the basis for major policy decisions in the United States? Is it years of careful study, ...

Simon Johnson: Why Do Senators Corker And Dodd Really Think We Need Big Banks?

Baseline Scenario | Simon Johnson | Posted 05.25.2011 | Business

On Friday, Senator Bob Corker (R, TN) took to the Senate floor to rebut critics of big banks. His language was not entirely senatorial: "I hope we'll...

Wall Street Reform Bill Means No More Bailouts

Rep. Paul Kanjorski | Posted 05.25.2011 | Politics
Rep. Paul Kanjorski

Those terrifying months in late 2008 convinced me that the federal government needed to play a far more active role in policing the activities of the major financial players in our economy. This finance reform bill will do that.

At Last! Simple New Test Shows if Your Politician's Telling the Truth About "Too Big to Fail"

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

Here's the greatest benefit this new test offers to voters. It lets us say to politicians, once and for all, on one of the most crucial issues of our day, those words every citizen longs to say to a long-winded public servant: Put up or shut up.