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Glass Steagall Act

Why I Love My Bank Regulator

Keith Mestrich | Posted 07.24.2014 | Impact
Keith Mestrich

Many financial sector executives are not fans of bank regulators -- to put it mildly. But I have a different perspective: I love my bank regulator. Here's why -- and why you should, too.

Morgan Stanley CEO Doesn't Believe More Bankers Should Have Gone To Jail For Financial Crisis

Reuters | Lauren Tara LaCapra | Posted 05.06.2014 | Business

By Lauren Tara LaCapra NEW YORK, May 6 (Reuters) - Morgan Stanley Chief Executive James Gorman said on Tuesday that he does not believe more banker...

Next Time, Read the Bill!

Charles Kolb | Posted 06.15.2014 | Politics
Charles Kolb

Is it really asking too much for our elected representatives to take the time to read and understand the laws on which they vote? Why should Congress be held to a lesser standard?

The Volcker Rule Is a Maddening Case Study in How to Suffocate Wall Street Reform

James Howard Kunstler | Posted 02.16.2014 | Business
James Howard Kunstler

The so-called Volcker Rule for policing (ha!) banking practices, approved by a huddle of federal regulating agency chiefs last week, is the latest joke that America has played on itself in what is becoming the greatest national self-punking exercise in world history.

Warren: 'I Don't Understand The Logic' Of Congress Not Taking Action

The Huffington Post | Paige Lavender | Posted 09.12.2013 | Politics

Sen. Elizabeth Warren (D-Mass.) spoke on the five-year anniversary of the financial crisis, saying Congress should act to end "too big to fail" financ...

Ex-Wall Street Titan: Break Up The Banks

The Huffington Post | Posted 09.09.2013 | Business

Sen. Elizabeth Warren (D-Mass.) has a friend in former Wall Street CEO John Reed. The former CEO of Citicorp, which merged with Travelers Insuranc...

Why Is Obama Enabling a Fox to Guard the Fed Henhouse?

Jane White | Posted 10.06.2013 | Politics
Jane White

Is Larry Summers smart? Maybe, given that he became one of the youngest tenured professors at Harvard at age 28. But so what?

Move Your Money Lives On; Teaching Bank Transparency

Dennis Santiago | Posted 09.22.2013 | Business
Dennis Santiago

Ordinary people are still just important to being the driving force for free market discipline today as they were in 2009. You can never have too much transparency when looking at "boring banks."

Conservatives and Libertarians Should Support the Return of Glass-Steagall

William K. Black | Posted 09.20.2013 | Politics
William K. Black

Absent Glass-Steagall, banks could purchase anything from an aluminum company to a fast food franchise and (indirectly) fund its acquisitions and operations with federally-subsidized deposits. If you run an independent aluminum company or fast food franchise do you want to have to compete with a federally-subsidized rival?

Shahien Nasiripour

Metal Market Mayhem: Brewers Blast Banks

HuffingtonPost.com | Shahien Nasiripour | Posted 07.17.2013 | Politics

WASHINGTON -- A loose coalition of beer brewers, automakers, Boeing and Coca-Cola is accusing big banks, including Goldman Sachs and JPMorgan Chase, o...

Mark Gongloff

JPMorgan Chase Fires Back At Elizabeth Warren

HuffingtonPost.com | Mark Gongloff | Posted 07.12.2013 | Business

Shocking news: JPMorgan Chase is not exactly jazzed about some recent plans to regulate banks, including Elizabeth Warren and John McCain's bill to re...

Zach Carter

Senators Attempt To Revive Bank Rule

HuffingtonPost.com | Zach Carter | Posted 07.11.2013 | Politics

WASHINGTON -- A bipartisan group of four senators that includes Elizabeth Warren (D-Mass.) and John McCain (R-Ariz.) introduced an updated version of ...

Zach Carter

House Dems Press Ben Bernanke On Risks Of Bank Expansion

HuffingtonPost.com | Zach Carter | Posted 07.02.2013 | Politics

WASHINGTON -- Four House Democrats sent a letter to Federal Reserve Chairman Ben Bernanke on Friday, pressing him on the risks of the market manipulat...

Society's Decay Rewards Wrongdoers

Ralph Nader | Posted 08.11.2013 | Politics
Ralph Nader

Disturbingly, those of us who saw the warning signs are routinely ignored or even chastised, while the blatant war mongers, the misleaders, the defrauders and the corporate apologists are given ample time and space to promote their wrongheaded views.

Zach Carter

Wall Street's Political Payouts Higher For Those Voting To Deregulate

HuffingtonPost.com | Zach Carter | Posted 04.04.2013 | Politics

WASHINGTON -- The recent Wall Street deregulation push in Congress has been fueled by a significant disparity in campaign donations from big banks: Me...

The Great Deregulator

Robert Scheer | Posted 11.10.2012 | Politics
Robert Scheer

Obama has followed the examples of Summers and Geithner instead of those of Warren and Harris, and that is what has made the election a tossup as voters continue to suffer in an economy that Democrats as well as Republicans wrecked.

Looking Back at 'The Newsroom,' Pondering a Free Market

Andrew Fish | Posted 11.04.2012 | TV
Andrew Fish

By inserting a fictional cast into the framework of real-world events, Aaron Sorkin has provided both an outspoken opinion on American politics and a starting point for research into any number of financial and political issues facing the country.

The Terrible Economy and the Anti-Election of 2012

Robert Reich | Posted 09.28.2012 | Politics
Robert Reich

Romney has decided to campaign as the anti-Obama. The two anti-the-other-guy strategies fit with a ton of negative advertising that's just begun but will reach mammoth proportions after Labor Day. Much of it will be financed by super PACs and by political fronts already taking in hundreds of millions of dollars in secret donations. Romney's camp hopes to out-negative Obama by almost two to one. So whatever happens on Election Day, the next president will have to contend with two handicaps. The public won't have endorsed any new ideas or bold plans, which means he won't have a clear mandate to do anything on the economy. The only thing the public will have decided is it fears and distrusts the other guy more. Which means the winner will also be burdened by almost half the electorate thinking he's a scoundrel or worse.

Ex-Wells Fargo CEO: 'Investment Bankers Are Risky, Not Investment Banking'

The Huffington Post | Alexander Eichler | Posted 07.26.2012 | Business

Banks don't lose money. People lose money. That seems to be the feeling of Richard Kovacevich, the former chairman and CEO of Wells Fargo. "Why thi...

Senator Defends Controversial Move

The Huffington Post | Alexander Eichler | Posted 07.26.2012 | Business

Say this for Phil Gramm: the man sticks to his guns. Thirteen years after helping to repeal the Glass-Steagall Act and under widespread criticism, ...

Casper the Friendly Ghost Can't Control Wall Street

Leo W. Gerard | Posted 09.15.2012 | Business
Leo W. Gerard

Casper's airy little fist packed no wallop when it came to impeding high-risk betting on Wall Street, the LIBOR lending rate manipulation or the disappearance of client money at MFGlobal. There's a much better way than Casper to catch a bankster: pay them to turn each other in.

Joseph Stiglitz: Wall Street's Lobbying Efforts Have 'Really Paid Off'

The Huffington Post | Khadeeja Safdar | Posted 07.02.2012 | Business

All that money banks have spent wielding influence in Washington has "really paid off," according to Joseph Stiglitz. "Not for shareholders and bo...

Alan Greenspan Tells It Like It Isn't

Raymond J. Learsy | Posted 08.24.2012 | Business
Raymond J. Learsy

Greenspan sprung to the aid of the Wall Street Mafia by proclaiming loud and clear there is no need to return to the Glass-Steagall Act and all it would imply in restricting the proprietary trading of banks: "Glass-Steagall was never a useful vehicle."

Bair: Regulators Should 'Admit They'd Made A Mistake' With JPMorgan

Reuters | Posted 08.14.2012 | Business

* Bair says doesn't like "piling on" over JPMorgan * Says loss does not threaten viability of the bank * But says it doe...

Shattering Glass

Bartlett Naylor | Posted 08.14.2012 | Politics
Bartlett Naylor

As we enter a week where JPMorgan attempts to defend its actions, let's remember the history lessons we've learned from the repeal of Glass-Steagall and make sure that we don't let our newest Main Street protection, the Dodd-Frank Act, be shattered in the same way.