Not content with having swindled tens of millions of Americans out of their homes and life savings, the very bankers who caused the biggest economic catastrophe since the Great Depression are now subverting government regulations designed to prevent comparable disasters in the future.
Breaking up the biggest banks because they are perceived as "too big to fail" is unrealistic. What is needed, however, are improvements in the transparency and the accountability of governance in these institutions.
Hell has frozen over! After years of lawsuits and investigations by federal and state law enforcement agencies mortgage servicers are finally being forced to repay some of the billions of dollars they stole from American consumers. Unfortunately, the timing couldn't be worse.
I'm going to make a prediction, right here; right now: This crowdsourcing phenomenon is just getting started and Yammer is just the beginning of what is sure to be a clown-car chase for the best companies in this sector.
In the wake of Wall Street recklessness that caused economic collapse, Congress gave shareholders and citizens Dodd-Frank to help them constrain self-dealing corporate executives. The 99% Coalition and shareholders are working with those tools even as Republicans vow to take them away.
The vote against Vikram Pandit's proposed pay package isn't binding on Citigroup. But it's a warning shot across the bow of every corporate boardroom in America. Shareholders aren't happy about executive pay.
This time of year, retail stores want to encourage new account signups at checkout. If you make too many new applications, you can put a temporary ding in your credit report that can disqualify you from the best credit card deals.
Why has Robert Rubin, the onetime treasury secretary who went on to become Citigroup chairman during the time of the corporation's financial shenanigans, never been held accountable for this and other deep damage done to the U.S. economy on his watch?