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Too Big to Fail

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 | 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

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 | 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.

Arthur Delaney

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

Shahien Nasiripour

Geithner Admits Regulatory Failures, Reiterates Support For Empowering Regulators | 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...

'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 ...

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.

Ryan Grim

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