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Too Big to Fail

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.

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.

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.

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...

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.

Sen. Sherrod Brown: SAFE Act Will Let Us Break Up Big Banks

Sherrod Brown | Sherod Brown | Posted 05.25.2011 | Business

Think about the position we would put some future administration and Congress in if the trends toward concentration remain unchecked. Will Washington ...

'13 Bankers': Who's In Charge, The Banks Or The Government?

James Kwak | Posted 05.25.2011 | Books
James Kwak

When push came to shove in late 2008, the banks' ultimate power was not that they were secretly controlling the levers of power, but that their place at the center of the financial system enabled them to hold the real economy hostage.

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.

Sen. Feingold & Cantwell: Stay Principled and Vote Against Weak Financial Reform Bill -- But Don't Let Republicans Filibuster

Miles Mogulescu | Posted 05.25.2011 | Politics
Miles Mogulescu

The Democrats' financial reform bill is weak tea that doesn't fix the problem of too big to fail megabanks or prevent the next cycle of boom, bust and bailout.

Volcker Rule Could Wait Until 2022

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

With supporters and opponents of the much-debated financial reform bill emphasizing the urgency of the moment, one crucial component of the legislatio...

Judd Gregg and Ben Nelson: More Socialism Please

Dylan Ratigan | Posted 05.25.2011 | Business
Dylan Ratigan

In their current form, derivatives are basically government insurance for banks where taxpayers pay the claims. And politicians like Gregg and Nelson are fighting to keep the crooked $600 trillion derivatives market unreformed.

Ending Interconnectedness: It's Already in the Bill

SAFER | Posted 05.25.2011 | Business
SAFER

Jane D'Arista University of Massachusetts, Amherst, SAFER www.peri.umass.edu/safer On the eve of the proposed debate on the Restoring Financial Stab...

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.

After Bastille Day: Is There a Future for Big Banking?

Dennis Santiago | Posted 05.25.2011 | Business
Dennis Santiago

As bank reform continues to grind through Congress something sorely lacking so far is concentration on safely managing down "points of risk" from Too Big Too Fail business models.

Goldman Sachs and the Ghost of Sam Erwin

Don McNay | Posted 05.25.2011 | Business
Don McNay

Any stand-up comic knows that a great way to draw attention is to use profanity. Thus, it is truly sad to see a Senator I used to respect like Carl Levin fall for that tactic.

Republicans Filibuster Our Financial Future

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

With two-thirds of the nation supporting reform, any political party that throws in its lot with Wall Street will pay a major price come November. No amount of Wall Street campaign cash can counter voter outrage.