iOS app Android app

13 Bankers

Tim Geithner's Gamble

Project Syndicate | Simon Johnson | Posted 05.25.2011 | Business

LOS ANGELES -- In a recent interview, United States Treasury Secretary Tim Geithner laid out his view of the nature of world economic growth and the r...

The Decline Of The Middle Class And Lobbying Boom Of The 1970s

BaselineScenario.com | James Kwak | Posted 05.25.2011 | Politics

In "Third World America," Arianna Huffington cited Tocqueville's observation that democracy should promote the interests of "the greatest possible num...

Shadow Elite: Elizabeth Warren's Best Credential: Outsider

Linda Keenan | Posted 05.25.2011 | Politics
Linda Keenan

Questionable behavior became commonplace in innumerable corners of the financial industry over the past 20 years. And at key moments, it was an outsider like Elizabeth Warren who had the common-sense perspective to cry foul.

'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 ...

Brown-Kaufman Amendment: The State Of Play

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

The supporters of big banks will go down hard in November and in 2012; there are no secrets over this kind of time frame. But by then it will be too late for this cycle of financial reform.

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.

'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.

Regulation Takes Its Place: Second Place

The 14th Banker | Posted 05.25.2011 | Business
The 14th Banker

The past months have provided moments of despair and hope. At the end of the day, more than nothing was achieved with the financial reform bill. I'm not sure how else to put it.

13 Bankers: The American Oligarchs And The Systemically Dangerous Institutions (SDIs) They Rule

William K. Black | Posted 05.25.2011 | Books
William K. Black

It is insane to allow the SDIs to continue to exist and it is doubly insane to allow, much less encourage, them to grow.

Book Review Roundup

Posted 05.25.2011 | Books

Did you miss any of the big book reviews this weekend? Catch up on them with the highlights below. "The Lake Shore Limited," Sue Miller The New York ...

'13 Bankers': If The Megabanks Are Too Powerful To Regulate, Then They're Too Powerful To Shrink

Noam Scheiber | Posted 05.25.2011 | Books
Noam Scheiber

Anyone can talk tough when markets are calm. But in the middle of a financial crisis it takes a special breed of hard-ass to insist on haircuts, since no one can be sure that squeezing creditors won't shut down the entire bond market.

Lloyd Blankfein: Still "Doing God's Work?"

Joseph A. Palermo | Posted 05.25.2011 | Business
Joseph A. Palermo

Isn't it amazing how these powerful CEOs, who are paid tens of millions of dollars to know every detail about their company, act as if they just fell off the back of a turnip truck when they come to Congress?

'13 Bankers': How Big Are The Biggest Banks? If Derivatives Aren't Counted We Won't Know

James Kwak | Posted 05.25.2011 | Books
James Kwak

We need to have a more accurate grip on just how big our largest financial institutions already are, in order to show how much damage could be caused to the financial system in a crisis.

What's Lost in the Debate Over Financial Regulation Reform? Real Reform.

Edward D. Hess | Posted 05.25.2011 | Books
Edward D. Hess

In a new book, I subject a number of core presumptions of both Wall Street and major corporations about business growth to the scrutiny of hard research--presumptions that were major contributors to the 2008 financial meltdown.

You Think The Government Doesn't Want Big Banks? Think Again

Tyler Cowen | Posted 05.25.2011 | Books
Tyler Cowen

How much political power do the big banks have? I'd like to air a skeptical note and ask whether they're really running the show. To most people t...

It's Time to Cut Goldman Sachs and the Rest of Them Down to Size

Joseph A. Palermo | Posted 05.25.2011 | Business
Joseph A. Palermo

Hopefully, the SEC's pursuit of long-overdue fraud charges against Goldman Sachs is only the beginning of a process that will take the country back from these financial monopolists.

SEC Charges Goldman With Fraud

James Kwak | Posted 05.25.2011 | Business
James Kwak

The allegation is that Goldman failed to disclose the role that John Paulson's hedge fund played in selecting residential mortgage-backed securities that went into a CDO created by Goldman.

Simon Johnson, James Kwak On 'Bill Moyers Journal' (VIDEO): 13 Bankers Authors Explain Financial Crisis, Reform Effort

Posted 05.25.2011 | Business

Simon Johnson and James Kwak, the authors of 13 Bankers, appeared on "Bill Moyers Journal" Friday evening to discuss the financial crisis and the push...

'13 Bankers' In 4 Pictures: Why Wall Street Profits Are Out Of Whack

James Kwak | Posted 05.25.2011 | Books
James Kwak

We're not saying that everyone has to agree with everything we say about these pictures. But they make clear what kind of financial system we have today. And they need some kind of explanation.

James Kwak: The Problem is Bank-o-cracy (AUDIO)

Christopher Lydon | Posted 05.25.2011 | Politics
Christopher Lydon

James Kwak extends Michael Lewis's point and feeds my fascination with apocalyptic hysteria and helpless torpor as the twin markers of American politi...

Ryan McCarthy

'The Fourteenth Banker,' Anonymous Bank Insider, Describes His Moral Crisis: 'The System Is Built To Be Gamed'

HuffingtonPost.com | Ryan McCarthy | Posted 05.25.2011 | Business

"The system is built to be gamed." "The voices of dissent are not being heard." These are the words of an anonymous executive at one of Americ...

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.

'13 Bankers': Beware Of Banana Peels

Simon Johnson | Posted 05.25.2011 | Books
Simon Johnson

What we need is a change in the conventional wisdom in Washington, away from the idea that what is good for Wall Street is good for America, and toward the idea that we should be skeptical of the megabanks.

Book Club Pick: Why 13 Bankers Is a Must-Read for Barack Obama, Chris Dodd, and Everyone Who Wants to Avoid Another Financial Crisis

Arianna Huffington | Posted 05.25.2011 | Books
Arianna Huffington

13 Bankers is the rare book than can actually have an impact on the vital debate happening right now in Washington. READ MORE Why the Fight for Financial Reform Needs to Get Much More Personal When it comes to the fight over financial reform, Democrats are making the same mistake they did with health care: failing to put the effect reform would have on the lives of real Americans front and center. READ MORE Announcing HuffPost's Twitter Editions We are launching Twitter editions for each of our 19 sections -- a mash-up of breaking tweets and HuffPost stories that are attracting interest on Twitter. READ MORE WATCH: Arianna Discusses RNC's "Bondage-Gate" with Joy Behar WATCH: Arianna Spars with Rudy Giuliani Over Rubio, Kerik, and Waterboarding on Morning Joe

Simon Johnson Talks '13 Bankers,' Why Banks Should Be Small Enough To Fail (VIDEO)

Posted 05.25.2011 | Books

Simon Johnson, HuffPost blogger, MIT professor, and author of the new book, "13 Bankers," explained on the "Today Show" this morning why nothing reall...