Sen. Blanche Lincoln decided to Rambo Wall Street. As Chair of the Senate Agriculture Committee, she put forward a stunning improvement to the Senate financial reform bill over the hysterical cries of big bank lobbyists.
In a big win for American farmers, consumers and even import-reliant African nations, the Wall Street reform bill winding its way though Congress has unique provisions that apply to food and energy speculation.
Big banks might win some of the regulation battles and figure out how to protect their fee revenue in the short-term, but they're losing the war for customers. Eventually, customer-attrition will force them to change or perish.
As a consumer advocate and a military brat, I have long been a huge fan and a lifelong member of USAA. USAA is an insurance company that was set up to...
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.
The auto dealers are urging senators to avoid over-regulating their dealerships, burdening them with redundant laws, and ultimately limiting consumers' credit options. These concerns are unfounded.
What Summers, Dodd, and apparently the president continue to not get is that massive concentrations of wealth and power do equally massive amounts of damage over time to both a democracy and to the markets.
The following is also posted on Johnson's blog, BaselineScenario.com.
"Breaking up big banks would actually increase system risk" is a refrain heard f...
Data from the last 18 months show that the country's 7,600 credit unions are in fact outperforming big banks and rapidly expanding their market share. Since the start of 2009, credit unions have added more than 1.5 million new members.
The banking wars are in full scale battle mode. We are going to see a lot more of this faux populism paid for by bailed out bankers before the year is through, and progressives have to be quick to expose it.
Big change does not come from legislative fights alone. As important as passing a good financial reform bill is, we are going to have to keep organizing and keep the heat on Wall Street.
Republicans are threatening to filibuster a bill to regulate the big banks and hedge funds that trashed our economy and that would be the greatest gift they could possibly give Democrats.
One of the most salient analogies of the financial meltdown was offered by Financial Crisis Inquiry Commission chair Phil Angelides when he grilled Go...
Independent business groups that have been urging people to "buy local" are now making "bank local" an increasingly prominent part of their message, bringing new grassroots visibility to the Move Your Money movement.
The two House Democrats shepherding derivatives reform proposals through Congress will close an existing $50 trillion loophole for foreign currency co...
This story has been updated.
A key question at the heart of the controversial bailout of AIG is just how much money the government lost. The Federal ...
When I first arrived at Edda Lopez's house, I wondered how this elderly woman lives on the second floor of her elevator-less home despite being wheel...
There is no question that the concentrated corporate power of Wall Street is working to weaken the already disappointing financial reform bill. There is only one antidote to their power and that is our power.
What Paul Krugman and other smart economists who don't prioritize breaking up these big banks don't seem to get is that anytime anyone gets too much power, good policy and sound economic theories and formulas all get trumped.
Someone's got to look out for the little guy. Fortunately, we have the Republican Party, ready to go to the mat to defend the beleaguered financial in...
Goldman Sachs emailed me to remind me of the amount of cash I made whilst my money was with them. This of course just reminds me of why I moved my money in the first place: it was the only way I could show that I did not approve of them.
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.