Lately we've been hearing some strong words from the President about Wall Street crime. But when the cameras and lights aren't around, his Administration's been working feverishly to protect bankers from state law enforcement officials.
No sooner did the president and Boehner announce their agreement than the stock market fell dramatically. The all-knowing Stock Exchange, that Delphic Oracle of their cult, has looked upon their handiwork... and frowned.
At the center of the foreclosure fraud crisis lies something called "MERS," which is usually described in news reports as a computer system and database. But if you do some digging, you find it's much more than that.
There's a new undercurrent in Washington debate, an unstated drive to undo the bipartisan consensus that's governed American policy for a century. The old belief that greater fortune brings greater responsibility is under attack.
An anonymous email's been making the rounds on Wall Street from some loser who thinks he's a shark. Let's get this out of the way first: The only thing worse than a spoiled, self-satisfied brat is a whiny, spoiled, self-satisfied brat.
Wall Street's been a high-risk thrill ride for years, enriching for some but empty of deeper meaning and divorced from underlying value. The "flash crash" didn't break the market, but it did reveal fault lines.
29 million unemployed Americans will receive less financial support in total than was given out in bonuses to about 165,000 Wall Street employees. If you don't feel like a sucker yet, you're probably not paying attention.