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Dérégulation

In Defense of the Volcker Rule

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Some version of Wall Street reform is going to pass the Senate this week, but before it does, there are still three crucial battles to be waged, all of which would significantly change the way Wall Street does business.

Friday Talking Points [123] -- A Working Senate

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

The Senate has actually been dealing with many financial issues that will directly effect American consumers, and they've been doing so in an orderly way. You'd think this would be news.

Drill at Will! Obama Gets the Blame for Another Bush Era Mess

Gabriel London | Posted 05.25.2011 | Politics
Gabriel London

Hold on, let me get this straight: Bush gave the keys to the castle to a marauding bunch of plunderers by gutting every regulatory commission known to man -- and now the country seems ready for the Republicans again? How quickly we forget.

In the Century of "Black Swans", Modern Economics Deserves "Creative Destruction"

Dr. Vladimir A. Masch | Posted 05.25.2011 | Business
Dr. Vladimir A. Masch

Neoclassical economics must be replaced. Nobody can predict now the full scale of its radical replacement, and how beneficial would that replacement become, but its absence will surely be a tragedy.

Tom Carper Is Attacking Consumers and Defending Wall Street

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

There are two consumer protection amendments getting serious attention on the Senate floor this week, one of them positive, one of them incredibly destructive -- the kind of amendment that can actually sink the bill if adopted.

The Speech For Which We Have Been Waiting

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

We need a simple speech and a direct speech -- most of all a political speech -- about what exactly happened to our financial system. Thursday, hopefully, we should finally get the speech.

Will Your ISP Become Your TV? The Comcast NBCU Merger

Lowell Peterson | Posted 05.25.2011 | Media
Lowell Peterson

A central concern raised by the merger's critics is that one company will have too much influence if it controls both the production and the distribution of media.

Robert Rubin: 'Virtually Nobody' Saw Crisis Coming, Bush Deserves Much Of The Blame

Huffington Post | Grace Kiser | Posted 05.25.2011 | Business

Robert Rubin, the former Clinton-era Treasury Secretary and noted champion of deregulation, told a New York City audience last night that "virtually n...

The Moon's Feud With NASA

R. B. Stuart | Posted 05.25.2011 | Comedy
R. B. Stuart

NASA came forward today, not to discuss their erroneous decision to lob a Centaur rocket at the moon on October 9, 2009---but to share their probe ...

The Implicit Bribe of Government Officials

Cenk Uygur | Posted 05.25.2011 | Politics
Cenk Uygur

Everyone in government is running with a giant implied bribe hanging over their head. If they if they do as they are told, everybody gets rich. Oh right, except us.

Schwarzman Says Kowtow to Banks or They Will Strangle the Economy

Yves Smith | Posted 05.25.2011 | Business
Yves Smith

Schwarzman and the finance industry's inability to see, much less admit, any culpability, and hence the need for root and branch reform, is pathological.

'Freefall' Excerpt: It's Not Too Late To Turn Around The Biggest Banking Blunder In History

The Huffington Post | Joseph E. Stiglitz | Posted 05.25.2011 | Books

Reprinted from Freefall by Joseph Stiglitz. Copyright (c) 2010 by Joseph E. Stiglitz. Used with permission of the publisher, W.W. Norton & Company, In...

John Dugan, OCC Head: 'Master Of Disaster' Is Banks' Hidden Ally In Deregulation Push

thenation.com | Zach Carter | Posted 05.25.2011 | Business

Of all the architects of last year's financial crash, John Dugan remains the most obscure, despite his stature as one of the most influential. While r...

Congress Rocks

Jim Jaffe | Posted 05.25.2011 | Politics
Jim Jaffe

Congress is moving at a pace that can fairly be characterized as astonishingly fast to slash the number of Americans who lack health insurance by more than half.

Overdraft This!

Erik Sean Nelson | Posted 05.25.2011 | Comedy
Erik Sean Nelson

Why are things a crime for the normal citizen, but daily routine for the Big Guys? Kill one person and you get life in prison. Kill 1 million people and it's called war.

Absolute Corruption Is the Rule in America

David A. Love | Posted 05.25.2011 | Politics
David A. Love

Often, people will look at a high-profile example of corruption, and conclude that the egregious act is an exception to the rule. In reality, it might be the tip of the iceberg.

What Are You Thankful for?

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

I am thankful that Wall Street is still a festering sump pump of illogic, hubris and greed, and will continue to provide me with plenty to write about for the foreseeable future.

Just How Corrupt are the Bank Regulators?

Garrett Johnson | Posted 05.25.2011 | Business
Garrett Johnson

Can we really expect the FDIC to effectively regulate the banks that have loaned them money so that they can do their job?

California's Own Bernie Madoff

Jerry Brown | Posted 05.25.2011 | Business
Jerry Brown

Some called Beverly Hills financial adviser Stanley Chais an investment wizard, but in reality he was nothing more than a glorified middleman, channeling hundreds of millions of dollars in investors' funds to Bernie Madoff in New York.

Fair

Norman Horowitz | Posted 05.25.2011 | Business
Norman Horowitz

We are all victims of a deregulatory Tsunami that has been in process in order to make the "big guys bigger."

The Root of Madoff's Evil

Robert Scheer | Posted 05.25.2011 | Business
Robert Scheer

How convenient for the judge and the media to paint Bernard Madoff as Mr. Evil, a uniquely venal blight on an otherwise responsible financial industry in which money is handled honestly and with transparency.

Why Does UBS Still Employ Phil Gramm?

The Big Picture | Barry Rithholtz | Posted 05.25.2011 | Business

Last week, UBS announced a 2nd Quarter loss "due to restructuring charges." The banking giant is raising $3.45 billion in a stock sale. Partly owned ...

Elite Deception and the Rise of Inequality

Sahil Kapur | Posted 05.25.2011 | Politics
Sahil Kapur

By deflecting their elitism onto their rivals, the party of plutocrats has for decades held the trust of millions of Americans while simultaneously swindling them.

It's the Global Economy (Stupid) -- or Is It?

Mark Weisbrot | Posted 05.25.2011 | World
Mark Weisbrot

The contemporary idea of the "global economy" is based on a misapplied analogy to the historical development of national economies.

News Flash: Greed and Stupidity Can Coexist!

Monica Youn | Posted 05.25.2011 | Politics
Monica Youn

If government officials are in the pocket of Wall Street, how can we expect them to identify and defuse problems before they turn into catastrophes?