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Big Banks

What Passes for Scandal Among Republicans

Mike Lux | Posted 05.30.2011 | Politics
Mike Lux

You would think that the Republicans in the House would have better things to do than erupt in outrage over whether something is "advice" or a "recommendation." You would be wrong.

Wall Street Banks: Making Enemies Everywhere

Mike Lux | Posted 05.29.2011 | Business
Mike Lux

In a post a few days back, I observed that the big Wall Street banks were in for a fall because they had become so arrogant in their power and wealth....

Bernanke: Dodd-Frank Should 'Level Playing Field' For Small Banks

Reuters | Dave Clark | Posted 05.25.2011 | Business

SAN DIEGO - New financial regulatory reforms should help reduce the edge that large banks have over smaller ones because of their implicit support f...

Why Republicans Hate Warren's CFPB But Love Another Bank Regulator

Stacy Mitchell | Posted 05.25.2011 | Business
Stacy Mitchell

What's really at issue in the fight over the CFPB is not how the agency is structured or how much power it will have, but whose interests it serves.

Enough Is Enough: Why I Closed My Chase Account

Patricia Malcolm | Posted 05.25.2011 | New York
Patricia Malcolm

We sacrifice, sacrifice, and sacrifice some more for the banks, and we are told it's for the common good. Well, I think we've given up enough.

The Bankers' New Goat

David Balto | Posted 05.25.2011 | Business
David Balto

Eventually, our ancestors gave up the practice of sending away a goat to atone for their sins. We can only hope the bankers reach a similar enlightened age and stop blaming others for their own business decisions.

Root Causes of Financial Crisis Remain Unaddressed

Stijn Claessens | Posted 05.25.2011 | Business
Stijn Claessens

Without restructuring financial institutions' balance sheets and their operations, as well as their assets the economic recovery will suffer, and the seeds will be sown for the next crisis.

Bankers' Holiday

Mike Lux | Posted 05.25.2011 | Business
Mike Lux

The ideologues who want no check whatsoever on the power of big business have declared war on the middle class. But these attacks on the things we hold dear are putting the "movement" back in the labor movement.

The Broken Covenant Between Rich and Middle Class

Nicholas Carroll | Posted 05.25.2011 | Business
Nicholas Carroll

Regardless of individual politics, middle class Americans who want to remain middle class should accept -- or insist -- that Big Finance once again be closely regulated at the Federal level.

The Big Banks' Battle Against Consumers and Homeowners

Mike Lux | Posted 05.25.2011 | Business
Mike Lux

Trying to build a new agency whose actual mission is to act on behalf of consumers in times like these is a treacherous undertaking, and Elizabeth Warren is battling on two major fronts of her own.

Ryan Grim

Underwater Homeowners Gathering Tuesday Evening Across The Country

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Business

On Tuesday evening in Boynton Beach, Fla., underwater homeowners are gathering for happy hour at Ralph and Rosie's Restaurant, an independently owned ...

Obama's Chamber Speech: The Debates About Regulation and the Social Contract

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

The president didn't challenge the Chamber, or the American business community, enough in his speech. But it was good to see him make a strong case for the role of regulation, and for the importance of the social contract.

Entrepreneurial Populism

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

If we want to make any progress in the legislative or regulatory arena, progressives will need to frame their ideas in new ways and look for alliances that go beyond the usual suspects.

Simon Johnson: The Ruinous Fiscal Impact Of Big Banks

New York Times | SIMON JOHNSON | Posted 05.25.2011 | Business

The newly standard line from big global banks has two components -- as seen clearly in the statements of Jamie Dimon of JPMorgan Chase and Robert E. D...

Fraudclosure: Will State AGs Step Up to Their Moment in History?

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

Rumor has it that the 50-state attorneys general investigation into the Fraudclosure scandal is wrapping up. It's time for a backbone check.

William Alden

Banks Ease Credit To Big Companies, But Leave Out Small Business

HuffingtonPost.com | William Alden | Posted 05.25.2011 | Business

In a sign that life may be getting easier for big U.S. corporations, large banks are beginning to make loans more available. Citing increased competi...

Big Banks Have 'Already Seen Their Glory Days,' Analysts Say

washingtonpost.com | Jia Lynn Yang | Posted 05.25.2011 | Business

Revenues at big financial firms are down across the board and could continue stalling for years as new regulations kick in and consumers borrow vastly...

Shadow Elite: Move Your Money and Beyond -- Reforming Market Culture From the Bottom Up

Annelise Riles | Posted 05.25.2011 | Business
Annelise Riles

Like efforts by good citizens to clean up a decrepit park frequented by drug dealers, it's time to pick up the trash left by the financial destruction, and challenge each other to clean up our acts.

Stop the Big Bank Bonus Deja Vu

Lisa Gilbert | Posted 05.25.2011 | Business
Lisa Gilbert

Ordinary Americans continue to suffer from foreclosures, unemployment, and cuts in public services, as the largest banks take in the nation's wealth and prepare to use it to award massive bonuses to the bankers that crashed our financial system.

Anat Admati: Dividends Can Wait Until Banks Are Stronger

Financial Times (via Stanford GSB News) | Anat Admati | Posted 05.25.2011 | Business

American banks, encouraged by good earnings, are itching to "return capital" to shareholders. The US Federal Reserve is expected to allow dividend inc...

State AGs: Foreclosure Reform Deal With Banks Is A Long Way Off

New York Times | DAVID STREITFELD and NELSON D. SCHWARTZ | Posted 05.25.2011 | Business

Changing the face of foreclosure in America will take some time, several state attorneys general said Wednesday, cautioning that an agreement with maj...

Bank Dividends Are About To make A Comeback

The New York Times | Nelson D. Schwartz and Eric Dash | Posted 05.25.2011 | Business

Investors in bank stocks are about to get a big cut of the profits again. Financial analysts say the nation's largest banks are ready to begin rest...

Is Another Bank Bailout Coming?

Mike Lux | Posted 05.25.2011 | Business
Mike Lux

To once again bail out the bankers, this time by changing real estate law in a way that hasn't been done since the 1670s, would be a far bigger deal than even the trillions in bailout dollars the TARP and Fed gave these banks in 2008/9.

Obama, Daley, and Progressive Strategy Now

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

Progressives cannot afford to take the attitude that with Bill Daley as White House Chief of Staff, all is lost and we should just give up on trying to influence policy and politics in regards to economics and other issue areas.

Big Banks To New Jersey: Stop Bugging Us About Foreclosure Documents

Daily Finance | Abigail Field | Posted 05.25.2011 | Business

When New Jersey tightened its rules for foreclosures in response to the crisis over false loan documents, it took the unprecedented step of ordering t...