May 28, 2012

Edition: U.S.

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Gramm Leach Biley Act

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Former Citigroup CEO Says Banks Shouldn't Mix With Wall Street

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: John S. Reed, John Reed Citi, Gramm-Leach-Biley Act, Too Big to Fail, Paul Volcker, Barack Obama, Paul A. Volcker, Sanford Weill, Bailout Bandits, Citibank, Financial Crisis, Glass-Steagall Act, Sandy Weill, Glass-Steagall, Citigroup, Business News

A former CEO of Citigroup says there should be "some kind of separation" between commercial banking and investment activities, joining a growing list ...

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A Decade Far Worse Than a "Big Zero" (1999-2009)

Joseph A. Palermo | Posted 05.25.2011

We can call the 2000s the "Worse Than Zero" decade or the "Big Zero," or anything we wish, but what characterized it most for me was the near total control of corporations, especially over our civic institutions.

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Obama Administration Determined to Usher in New Great Depression

Allison Kilkenny | Posted 05.25.2011

Read More: Investment Banks, Commercial Banks, Gramm-Leach-Biley Act, Economy, President Obama, New York Times, Timothy Geithner, Paul Volcker, Lawrence Summers, Glass-Steagall, Business News

Whatever one thinks of Paul Volcker, any amateur historian can see that he's right to want to keep investment banking separate from commercial banking.

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McCain, Cantwell Battle The Monolith To Reinstate Glass-Steagall

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011

Read More: John McCain, Larry Summers, Gramm-Leach-Biley Act, Maria Cantwell, Financial Crisis, Paul Volcker, Barack Obama, Glass-Steagall, Eat the Press, Video, Business News

Yesterday, the decidedly odd couple of Senators John McCain (R-Ariz.) and Maria Cantwell (D-Wash.) teamed up to introduce legislation that would rest...

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UBS Money Laundering: What Did Phil Gramm Know?

Robert Scheer | Posted 05.25.2011

Read More: Robert Scheer, Money Laundering, Ubs, Phil Gramm, Commodity Futures Modernization Act, Gramm-Leach-Biley Act, Business News

Given the widespread involvement of UBS in what the Justice Department alleges were efforts to violate U.S. tax laws, it must be asked: Did Gramm have no inkling about what was going on?

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One Lesson from the 1930s: Financial Regulation Has to Be Bold

Mitchell Bard | Posted 05.25.2011

Contrary to what John Boehner says, a big foot needs to be placed on the financial industry to make sure that last year's near collapse can never happen again.

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Larry Summers: Brilliant Mind, Toxic Ideas

Arianna Huffington | Posted 05.25.2011

Read More: Clayton Christensen, Timothy Geithner Treasury Secretary, Gramm-Leach-Biley Act, Economic Crisis, Larry Summers, Obama Economy, Lawrence Summers, Obama Economics, Wall Street Crisis, Commodity Futures Modernization Act, Financial Crisis, Timothy Geithner, Glass-Steagall, Sleep, Politics News

It was on Summers' watch that the credit-default swaps warhead that has blown up our economy was launched. It would be hard to make assumptions that turned out to be more wrong than his were.

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The Plot Thickens -- Details You Need To Know About The Bailout

Sheila Tendy | Posted 05.25.2011

Read More: Financial Crisis, Aig, Wall Street Bailout, Wall Street Crisis, Bailout, Gramm-Leach-Biley Act, Economy, Federal Reserve, Business News

Taking distressed mortgage-backed securities off the books of banks will not be enough to stabilize the financial system, as the total exposure to credit default swaps is still largely unknown.

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