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Too Big to Fail

Finance in America: Promoting Inequality and Waste

Dean Baker | Posted 07.28.2014 | Business
Dean Baker

There are many who want the government to play a rule in reducing inequality. That might be a desirable goal. However a higher priority would be to have the government stop playing a role in increasing inequality as it does with its support for the financial industry.

An Open Letter to Eric Holder and the Department of Justice

Carla Shutak | Posted 07.25.2014 | Politics
Carla Shutak

How do I, as a victimized consumer, apply for said relief? You see, many of us used-to-haves out here in the real world are still trying to claw and scrape our way out of the hole these financial institutions dug for us to live inside.

Michael McAuliff

Elizabeth Warren To Yellen: You Can Break Up The Big Banks

HuffingtonPost.com | Michael McAuliff | Posted 07.15.2014 | Politics

WASHINGTON -- Sen. Elizabeth Warren (D-Mass.) raised concerns Tuesday in a hearing about whether financial behemoths targeted by "too-big-to-fail" law...

Citigroup: The Original Gangsta

Robert Scheer | Posted 07.15.2014 | Business
Robert Scheer

Barack Obama's Justice Department on Monday announced that Citigroup would pay $7 billion in fines, a move that will avoid a humiliating trial dealing with the seamy financial products the bank had marketed to an unsuspecting public, causing vast damage to the economy.

Big Press on Bank of America Treatment of Whistleblower Michael Winston -- But, You'll Have to Read German!

Jerry Ashton | Posted 07.08.2014 | Business
Jerry Ashton

Germany's respected Handelsblatt, that country's parallel to the Wall Street Journal, recently devoted an entire section and a featured interview to the deliberate and ongoing crushing of American Michael Winston's finances and spirit by one of our country's largest banks.

Time to End the Era of 'Too Big to Fail'

Chris Meyer | Posted 06.25.2014 | Politics
Chris Meyer

Elizabeth Warren and John McCain aren't often on the same side of a debate in Washington. But the freshman Democratic senator and the veteran Republican lawmaker do agree that banking should be simpler and safer.

Watch: Wall Street's Secret Weapon: Congress

Bill Moyers | Posted 06.16.2014 | Politics
Bill Moyers

Why haven't any big bankers been prosecuted for their role in the housing crisis that led to the Great Recession?

Jon Ward

A Day With The New Populists

HuffingtonPost.com | Jon Ward | Posted 05.23.2014 | Politics

WASHINGTON -- Populism is fashionable in Washington these days. That's for good reason. Strong currents of dissatisfaction with the nation's capit...

Report: Big Bank Expected To Plead Guilty To End Tax-Evasion Probe

Reuters | Posted 05.15.2014 | Business

(Reuters) - Credit Suisse Group AG is expected to plead guilty and pay nearly $2.5 billion to U.S. authorities to end a probe of potential tax evasion...

Zach Carter

Even Alan Greenspan Thinks Wall Street Could Blow Up The Budget

HuffingtonPost.com | Zach Carter | Posted 05.14.2014 | Politics

WASHINGTON -- Former Federal Reserve Chairman Alan Greenspan said Wednesday that JPMorgan Chase is too big to fail and that supersized Wall Street ban...

Look Out, Wall Street, The New Populism Is Coming

Richard (RJ) Eskow | Posted 07.13.2014 | Politics
Richard (RJ) Eskow

The public's mood, despite years of attempts by most Republicans and many Democrats to placate them, is distinctly populist. And much of that populist sentiment is directed toward the financial institutions which have so badly damaged our economy.

Shahien Nasiripour

U.S. Knew Sallie Mae Cheated Service Members On Student Loans, But Renewed Contract Anyway

HuffingtonPost.com | Shahien Nasiripour | Posted 04.29.2014 | Politics

Federal investigators discovered evidence showing Sallie Mae cheated active-duty military service members on their federal student loans at least two ...

Judith Rodin: Director of the Day

Dean Baker | Posted 06.23.2014 | Business
Dean Baker

Judith Rodin is president of The Rockefeller Foundation, which held $3.7 billion in assets as of its 2012 annual report. That year, the foundation distributed $130 million in grants and charitable activities while taking in a net investment income of $283 million.

JPMorgan Takes Big Hit

AP | By STEVE ROTHWELL | Posted 06.11.2014 | Business

NEW YORK (AP) — JPMorgan Chase, the biggest U.S. bank by assets, said Friday its first-quarter earnings fell 20 percent, driven by a decline in inve...

Citi to Help Unemployed Youth? Oh, the Irony!

Richard (RJ) Eskow | Posted 06.11.2014 | Business
Richard (RJ) Eskow

Here's a story that resonates with so many layers of bitter irony that it's hard to know where to begin. So we'll start with the headline: "Citi Foundation to Help Teens Find 'Pathways to Progress.'"

Taibbi: U.S. Should Be Ashamed It Treats Pot Smokers Worse Than Wall St. Criminals

The Huffington Post | Alexander C. Kaufman | Posted 04.08.2014 | Business

A Wall Street bank accused of laundering money for drug cartels only had to pay a fine. Meanwhile, a man caught with a joint in his pocket had to spen...

How 'Too Big to Fail' Became 'Too Big to Manage'

Bob Swarup | Posted 06.07.2014 | Business
Bob Swarup

The recent spat between the Federal Reserve and Citigroup underscores the complexity of today's banking balance sheets. The episode is a warning shot across the bows of regulators.

'Too Big To Fail' Is Still Alive And Well

Reuters | Mike Dolan | Posted 04.02.2014 | Business

LONDON (Reuters) - Five years after Lehman Brothers' seismic bust and just two years after euro member Greece defaulted, the concept of being too big ...

Reflections on Too Big to Fail

Douglas Holtz-Eakin | Posted 05.26.2014 | Business
Douglas Holtz-Eakin

Too big to fail may be a problem. But it is no larger or smaller than the problem of good policy itself.

Fed Study Reveals Large Advantage Of Too Big To Fail

Reuters | Posted 03.25.2014 | Business

(Adds Fed's Fisher, bank group comment) By Emily Stephenson and Jonathan Spicer NEW YORK, March 25 (Reuters) - A landmark study by Federal Reser...

The War on Democracy: The Deep State

Bob Burnett | Posted 05.07.2014 | Politics
Bob Burnett

Over the course of the past decade, the doyens of the left, Peter Dale Scott and Noam Chomsky, began to use the term "deep state" to refer to the relatively small number of Washington and Wall Street player who actually control America.

Can We Escape Bank Regulation by Lawsuit?

John Fullerton | Posted 04.22.2014 | Business
John Fullerton

When banking is so powerful that the very business the banks are chartered to serve cannot discipline its business unfriendly behavior through market pressure, we are in a serious state of affairs. What to do?

Hillary Clinton's Achilles Heel: 2016

Jeanne Zaino | Posted 04.17.2014 | Politics
Jeanne Zaino

Wall Street is to Clinton's chances in 2016 what the Iraq War was in 2008. The only question now is whether the far left can find another Obama to make this case to primary voters? While it seems unlikely at this point, it is still early enough that anything is possible.

Too Often, American Justice Is Injustice

Michael Shammas | Posted 04.14.2014 | College
Michael Shammas

Our state of affairs goes against a pinnacle of American justice, equality before law, facilitating everything from war crimes, to torture, to domestic spying, to a predatory, ravenous Wall Street that feeds on the middle class with impunity.

Loehmann's: Shopping With Benefits

Sybil Adelman Sage | Posted 04.02.2014 | Style
Sybil Adelman Sage

In the communal dressing room at Loehmann's, stripped down to our Spanx and cellulite, as we tried on up to eight garments, the maximum allowed, we tu...