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Too Big to Fail

Obama To Propose New Limits On Banks, Revive 'Spirit Of Glass Steagall'

Wall Street Journal | DAMIAN PALETTA and JONATHAN WEISMAN | Posted 05.25.2011 | Business

WASHINGTON -- President Barack Obama on Thursday is expected to propose new limits on the size and risk taken by the country's biggest banks, marking ...

Paul Volcker Prevails

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

Will the White House have the courage of its convictions and really fight the big banks on size and risk?

Ryan Grim

WATCH: Members Of Congress Talk About Moving Their Money To Small Banks | Ryan Grim | Posted 05.25.2011 | Business

Members of Congress considering moving their money from major financial institutions to community banks have some of the same concerns ordinary custom...

Paul Volcker Prevails: Obama's New Limits On Banks Are What Volcker Has Been Pushing For | Simon Johnson | Posted 05.25.2011 | Business

This is an important change of course that, while still far from complete, represents a major victory for Volcker -- who has been pushing firmly for e...

Andrew Ross Sorkin: | ANDREW ROSS SORKIN | Posted 05.25.2011 | Business

Can a bank be too big? That was one of the more interesting questions to come up during the Financial Crisis Inquiry Commission hearing last week, th...

'Freefall' Excerpt: It's Not Too Late To Turn Around The Biggest Banking Blunder In History

The Huffington Post | Joseph E. Stiglitz | Posted 05.25.2011 | Books

Reprinted from Freefall by Joseph Stiglitz. Copyright (c) 2010 by Joseph E. Stiglitz. Used with permission of the publisher, W.W. Norton & Company, In...

Why Is Obama to the Right of the Wall Street Journal, Greenspan, and McCain on Breaking Up Banks and Restoring Glass Steagall?

Miles Mogulescu | Posted 05.25.2011 | Politics
Miles Mogulescu

If, a year after Obama's victory, the Senatorial race to replace Ted Kennedy is close, it can largely be attributed to public disillusionment that Obama and the Democrats have given away too much taxpayer money to Wall Street banks.

Dylan Ratigan Outlines The 4 Steps To Fix The Banks (VIDEO)

The Huffington Post | Posted 05.25.2011 | Politics

On Wednesday morning on MSNBC's Morning Meeting, Dylan Ratigan railed against the current debate in the House Financial Services Committee about syste...

Small Banks Continue to Fail, Approaching 100 This Year | ERIC DASH | Posted 05.25.2011 | Business

A year after Washington rescued the banks considered too big to fail, the ones deemed too small to save are approaching a grim milestone: the 100th ba...

Inside the Wall Street Journal's Future of Finance Initiative

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

We, the middle aged financiers, are responsible for taking action on the issue of massive financial fraud. If we don't, we will never restore trust in the financial system.

FDIC's Bair On Bank's Opposing Reform: "That Makes Me Angry"

Reuters | Posted 05.25.2011 | Business

WASHINGTON (Reuters) - A top U.S. bank regulator struck out against the portions of the financial industry that are fighting reforms, saying they are ...

Taxing 'Too Big to Fail' and Republican Hypocrisy

Brad Miller | Posted 05.25.2011 | Business
Brad Miller

President Obama is proposing a tax on "too big to fail" banks. Republicans hate taxes, so they'll probably be against this one. But Republicans proposed exactly the same thing just a decade ago.

Postage and Other Economic Outrages Against Soldiers

Don McNay | Posted 05.25.2011 | Business
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Don McNay

America ships soldiers off to Afghanistan and Iraq for free. If you come back in a body bag, they ship that back for free, too. However, we make families who send soldiers socks, food and underwear pay shipping costs.

Shahien Nasiripour

Frank Says "Too Big To Fail" Bill Will Be Changed | Shahien Nasiripour | Posted 05.25.2011 | Business

Democrats and Republicans ripped into Treasury Secretary Timothy Geithner during a Congressional hearing Thursday, as Geithner defended an administrat...

Stop the Federal Guarantees

Robert Pozen | Posted 05.25.2011 | Business
Robert Pozen

The design of a tax on large banks will present major challenges since many banks will not be paying corporate income tax for several years due to the carry-forward of huge losses from prior years.

$9 Billion Check That Saved Morgan Stanley: Is It The Biggest Check Ever? (PHOTO)

Posted 05.25.2011 | Business

Ever wondered what a $9 billion check looks like? Via Andrew Ross Sorkin's website comes this rather large payout, which is detailed in his best-s...

The Arrogance of "Too Big to Fail"

Charles Feldman | Posted 05.25.2011 | Los Angeles
Charles Feldman

I sort of inherited Chase when it swallowed whole Washington Mutual. I firmly believe that the arrogance manifest at the top of these financial monsters drips down to many of the lower rungs.

House Dems Sharpening 'Too Big To Fail' Bill

Reuters | Kevin Drawbaugh | Posted 05.25.2011 | Business

WASHINGTON (Reuters) - A key U.S. congressional panel moved toward toughening a plan for dealing with "too big to fail" financial firms on Tuesday, wh...

Breaking Up the Big Banks, and Why Congress Won't Do It

Robert Reich | Posted 05.25.2011 | Business
Robert Reich

Two ideas are floating around Washington regarding how to handle 'too big to fail' banks, but only one is supported by the Treasury and the White House. Unfortunately, it's the wrong one.

God to Goldman Sachs: You're Not Doing 'God's Work,' Joins Call for Protest at DC Headquarters

Art Levine | Posted 05.25.2011 | Business
Art Levine

Sources close to God reported Thursday that the Supreme Being was angered at recent comments by Goldman Sachs CEO Lloyd Blankfein that's he's just a banker "doing God's work."

Sunday Roundup

Arianna Huffington | Posted 05.25.2011 | Business
Arianna Huffington

This week, Obama's pay czar announced he'd be slashing executive pay at seven of the biggest recipients of bailout billions. So it's no surprise that many of Wall Street's Masters of the Universe didn't turn up at the New York fundraiser President Obama spoke at -- choosing instead to attend a party thrown to toast the release of Too Big To Fail, Andrew Ross Sorkin's blow-by-blow account of the meltdown. There, enjoying cocktails and finger food, were many of the central players, including Jamie Dimon of JP Morgan and John Mack of Morgan Stanley. Which is kind of like Hannibal Lecter showing up for the opening of Silence of the Lambs. Perhaps they take comfort in Sorkin's assessment that when it comes to reforming Wall Street "the Obama administration seems to have moved on to other priorities." I need a drink.

Simon Johnson: 'The Financial Crisis Is Just Beginining' (VIDEO)

Posted 05.25.2011 | Business

Simon Johnson, the MIT professor and economist who's long been a strident critic of "too big to fail" institutions, appeared on CNBC this morning and ...

Shahien Nasiripour

House Panel May Keep Public In The Dark About Emerging Threats To Financial System | Shahien Nasiripour | Posted 05.25.2011 | Business

Members of Congress and the general public may not be told of "potential emerging threats to the stability of the financial system," thanks to a Thurs...

Wall Street Is More of a Threat to Obama's Domestic Agenda than Afghanistan

Joseph A. Palermo | Posted 05.25.2011 | World
Joseph A. Palermo

Whatever Obama decides to do in Afghanistan is of little consequence compared to Wall Street's ongoing "plutonomy."

Retirements and the Establishment

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

If Democratic candidates on the ballot this year take up the anti-big bank banner, they will reap big benefits, because the anti-Wall Street movement is gaining momentum.