iOS app Android app

Wall Street Bailout

Make Congress Live Up To Obama's Reforms

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

President Barack Obama identified five major problems on Wall Street in his speech at Cooper Union today. Unfortunately, the solutions he has proposed...

The Hill Goes to Bat for Payday Lenders

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

The Hill published a truly outrageous op-ed by a payday lending front group, and the publication didn't bother to tell readers it was providing a platform for a predatory hatchet-woman.

Weekly Audit: How Deregulation Fueled Goldman Sachs' Scam

The Media Consortium | Posted 05.25.2011 | Home
The Media Consortium

by Zach Carter, Media Consortium blogger Last week, the Securities and Exchange Commission filed fraud charges against Goldman Sachs and underscored w...

Corker's Phony Bipartisanship Won't Fix Wall Street

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

The financial crisis hit in the summer of 2007. By the fall of 2008, Wall Street had nearly destroyed itself. Obama put forth a reform proposal in June of 2009. It is now the spring of 2010. The time for action is long overdue.

Goldman Sachs: Too Big For Jail?

Don McNay | Posted 05.25.2011 | Business
Don McNay

Just because the SEC filed a lawsuit, it doesn't mean they will win. Goldman Sachs could easily prevail. Before we start breaking out the champagne, let's look at what is actually going on.

Are Barack Obama and JP Morgan's Jamie Dimon Breaking Up?

The Breakup | Noam Scheiber | Posted 05.25.2011 | Business

ll of which is to say, if anyone should be attending a state dinner these days, it's Dimon, whom The New York Times once dubbed "President Obama's fa...

The Only Way to Prevent Another Bailout of Wall Street is to Cap the Size of Wall Street's Big Banks

Robert Reich | Posted 05.25.2011 | Business
Robert Reich

The so-called "resolution" mechanism the Democrats are pushing to wind down any big bank that gets into trouble is a step in the right direction. But it won't work if two or more giant banks are simultaneously endangered.

Is it Time to Pull the Plug on the Financial Crisis Inquiry Commission?

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

Last week, in the middle of former Federal Reserve Chairman Alan Greenspan's testimony in front of the Financial Crisis Inquiry Commission (FCIC), the lights went out. But electrical snafus are just the beginning of the FCIC's problems.

Shahien Nasiripour

75% Of Homeowners In Obama's Loan Modification Plan Still Owe More Than Their Homes Are Worth | Shahien Nasiripour | Posted 05.25.2011 | Business

More than three-quarters of homeowners who have had their monthly mortgage payments reduced under the Obama administration's primary foreclosure-preve...

Does Size Matter? Simon Johnson vs. Paul Krugman on Whether to Break Up "Too Big to Fail" Banks

Miles Mogulescu | Posted 05.25.2011 | Business
Miles Mogulescu

Paul Krugman and Simon Johnson are two of my favorite economic commentators, but when it comes to the issue of breaking up mega-banks, they take dramatically opposing positions.

Is there a Global War Between Financial Theocracy and Democracy?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

The financial reform bill is virtually designed to institutionalize "too big to fail." And when it's reconciled we'll lose another battle in the ongoing war between global financial markets and democratic nation-states.

Shahien Nasiripour

Feds Didn't Do Enough To Avoid 'Poisonous' AIG Bailout And Now Changing Story To Defend It, Watchdog Says | Shahien Nasiripour | Posted 05.25.2011 | Business

Despite the many options it had, the team led by current Treasury Secretary Timothy Geithner chose to bail out ailing insurer American International G...

Wall Street's Advice to Joran van der Sloot

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

We'd like to congratulate you on almost having the right stuff. But the fact is we enjoy rubbing salt in wounds, and when it comes to creating havoc and misery, we just want you to know that we are better at it than you are.

Are the Unemployed Causing Unemployment?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

Senator Judd Gregg thins that the way to create jobs is to get those lazy workers off the dole so that they can help lower wages across the economy. Interesting theory, but it doesn't apply to this planet.

DK Matai | Posted 05.25.2011 | Business
DK Matai

Editor's Note: This post has been removed from the Huffington Post....

Contradicting Secretary Geithner

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

Geithner is completely wrong if he thinks the financial reform bill now before Congress "has teeth." There is simply nothing there that will rein in our largest financial institutions.

Are Bailouts for the Super-Rich Inevitable? Ask Paul Krugman

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

Come on, Mr. Krugman, we know you're not ready to make peace with our pampered and grossly overpaid financial elites. Americans are looking for a way out of our billionaire bailout society. Lead the way!

Left, Right & Center: Why is America This Deeply Polarized?

HuffPost Radio | Posted 05.25.2011 | Politics
HuffPost Radio

Partisan divisions in the country have never seemed so extreme: on Health Care, on the stimulus and on the Wall Street bailout. But why is there so much anger?

Weekly Audit: How Superhero Hilda Solis is Winning the Fight for Workers' Rights

The Media Consortium | Posted 05.25.2011 | Home
The Media Consortium

By Zach Carter, Media Consortium blogger While the poor judgment of top-level officials at Treasury and the Office of Management and Budget frequently...

The Ten Wealthiest Financiers in America Are Not Worth $900,000 an Hour

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

The time may come when the American people demand a modicum of financial justice and economic sanity. This would require something far beyond the current financial reform, which is basically a gift to Wall Street and hedge funds.

Why President Obama Is Not (and Is) a Socialist

Van Gosse | Posted 05.25.2011 | Politics
Van Gosse

Fox News relentlessly sounds the "socialist" chorus, rallying some Americans with posters featuring hammer-and-sickle drawings next to our elected leader. But for the rest of the world, this all seems pretty silly:

Scaling Back Our Bloated Financial Sector

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Individual oversized banks are not the only problem Big Finance poses to the economy -- the overall sector is much too large.

The Economic "Do Over"

Jorge Hernandez | Posted 05.25.2011 | Business
Jorge Hernandez

We all remember the "Do Over." As children whenever a game went awry, someone would yell out, "Do Over!" What we need in this country is an economic "Do Over."

Financial Services Roundtable, Big Banks Begin Effort to Improve Image, Set 'Record Straight' | Julianna Goldman and Robert Schmidt | Posted 05.25.2011 | Business

March 24 (Bloomberg) -- One of Wall Street's main lobbying groups is starting an image-improvement campaign aimed at showing the financial industry as...

Too Big to Fail? Amidst Fiscal Crisis, Governments Must Take Dramatic Actions

Steve Rohleder | Posted 05.25.2011 | Business
Steve Rohleder

When recovery does come lawmakers must avoid the temptation to slip back into the old ways of doing business. They must focus on building an operation that can be sustained in any economic environment.