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Too Big to Fail

Judd Gregg and Ben Nelson: More Socialism Please

Dylan Ratigan | Posted 05.25.2011 | Business
Dylan Ratigan

In their current form, derivatives are basically government insurance for banks where taxpayers pay the claims. And politicians like Gregg and Nelson are fighting to keep the crooked $600 trillion derivatives market unreformed.

Ending Interconnectedness: It's Already in the Bill

SAFER | Posted 05.25.2011 | Business
SAFER

Jane D'Arista University of Massachusetts, Amherst, SAFER www.peri.umass.edu/safer On the eve of the proposed debate on the Restoring Financial Stab...

Goldman Sachs: a Hedge Fund Managed by Traders?

Georges Ugeux | Posted 05.25.2011 | Business
Georges Ugeux

What became completely obvious for all the world to see is that Goldman Sachs is a hedge fund, and that it is only interested in clients as screens for their own proprietary trading activities.

After Bastille Day: Is There a Future for Big Banking?

Dennis Santiago | Posted 05.25.2011 | Business
Dennis Santiago

As bank reform continues to grind through Congress something sorely lacking so far is concentration on safely managing down "points of risk" from Too Big Too Fail business models.

Goldman Sachs and the Ghost of Sam Erwin

Don McNay | Posted 05.25.2011 | Business
Don McNay

Any stand-up comic knows that a great way to draw attention is to use profanity. Thus, it is truly sad to see a Senator I used to respect like Carl Levin fall for that tactic.

Republicans Filibuster Our Financial Future

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

With two-thirds of the nation supporting reform, any political party that throws in its lot with Wall Street will pay a major price come November. No amount of Wall Street campaign cash can counter voter outrage.

Felix Salmon: Despite Reform Efforts, 'Big Banks Have Enough Lobbying Power To Continue Taking Big Risks' (VIDEO)

Posted 05.25.2011 | Business

Felix Salmon, Reuters' widely influential blogger, sat down with Huffington Post's Ryan McCarthy at the Milken Institute's Global Conference, to talk ...

If Republicans Say No to Bailouts, Then They Can't Say No to Breaking Up the Banks

Tiffiniy Cheng | Posted 05.25.2011 | Politics
Tiffiniy Cheng

Senate Republicans say they're against both the bailouts and the Democrats' proposed legislation to end them. They say the Dodd bill would "actually guarantees future bailouts." It's time for the them to put up or shut up.

'13 Bankers': If The Megabanks Are Too Powerful To Regulate, Then They're Too Powerful To Shrink

Noam Scheiber | Posted 05.25.2011 | Books
Noam Scheiber

Anyone can talk tough when markets are calm. But in the middle of a financial crisis it takes a special breed of hard-ass to insist on haircuts, since no one can be sure that squeezing creditors won't shut down the entire bond market.

Larry Summers Is Lying About Big Banks

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Today's megabanks aren't just too-big-to-fail, they're too-big-to-regulate. If Democrats want to salvage their political credibility, they now have no choice now but to push to break up the banks.

Gretchen Morgenson: Leading Financial Reform Proposals Won't Stop 'Bailout Buffet'

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

EVERY once in a while, Congress awakens from its lobbyist-induced torpor, realizes that the masses are cranky and sets out to appease them. Such a mom...

The Bank Lobby Gets Desperate on Derivatives

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

As bankers fight to defeat tough new rules on derivatives, all their sloganeers can come up with is that serious rules will send this business overseas. It'd be funny if Congress weren't taking it seriously.

'Chuck Prince' Is Going To Run This Bank (Into The Ground)

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

The following is also posted on Johnson's blog, BaselineScenario.com. "Breaking up big banks would actually increase system risk" is a refrain heard f...

Shahien Nasiripour

Larry Summers Defends Megabanks, Says Too Many Small Banks Make U.S. 'Less Stable'

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

President Barack Obama's top economic adviser defended megabanks Thursday, arguing that breaking them up serves no purpose and that a proliferation of...

Sarah Palin is Seizing The Populist Moment -- Will Democrats?

Zach Carter | Posted 05.25.2011 | Politics
Zach Carter

Sarah Palin's broadside against the Obama administration's Wall Street reform proposal is an interesting study in, well, hackery. One the one hand, he...

Ryan Grim

Senate Test Vote Shows Broad Support For Breaking Up Banks

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Business

A test vote in the Senate Budget Committee on Thursday showed stronger support in the chamber for breaking up big banks than had previously been suspe...

You Can Help Break up Too Big to Fail Mega-Banks: Here's How

Miles Mogulescu | Posted 05.25.2011 | Politics
Miles Mogulescu

Representatives Sherrod Brown and Ted Kaufman have introduced the "Safe Banking Act" which would put a hard cap of 3% of Gross Domestic Product on the assets of all bank holding companies.

'13 Bankers': How Big Are The Biggest Banks? If Derivatives Aren't Counted We Won't Know

James Kwak | Posted 05.25.2011 | Books
James Kwak

We need to have a more accurate grip on just how big our largest financial institutions already are, in order to show how much damage could be caused to the financial system in a crisis.

No More Deceit -- Strictly Regulate Wall Street

Leo W. Gerard | Posted 05.25.2011 | Business
Leo W. Gerard

If McConnell-style deceit about the financial reform bill continues in the Senate, serious regulatory reform won't happen. Half measures won't work. Only robust financial reform will end Wall Street's freedom to deceive.

In The Public Interest: My Top Ten List of Things to Watch For at Today's Wall Street Reform Conference

Ed Mierzwinski | Posted 05.25.2011 | Politics
Ed Mierzwinski

The good news is that both the House and Senate passed Wall Street reform bills including a strong, new, independent consumer agency.

The President Has Spoken. Now Let's Help Him Act.

Richard (RJ) Eskow | Posted 05.25.2011 | Politics
Richard (RJ) Eskow

Obama's speech walked a line between vision and reality. At times it seemed an internal dialog between the technocrat who sees the problems and how to fix them, and the pragmatist who wants to reap the rewards from whatever bill gets passed.

Fraud in Banking, Fraud in Message

Mike Lux | Posted 05.25.2011 | Business
Mike Lux

The banking wars are in full scale battle mode. We are going to see a lot more of this faux populism paid for by bailed out bankers before the year is through, and progressives have to be quick to expose it.

Will the Real Obama Please Stand Up for Reform? Six Ways to Know if the Financial Reforms Are for Real

Les Leopold | Posted 05.25.2011 | Politics
Les Leopold

Obama's working from a flawed theory: "There is no dividing line between Main Street and Wall Street. We are all in this together as one nation." Really? The entire story of this crisis is about how we are not in this together.

How to Fix the Wall Street Reform Bill

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Washington has tied itself in knots trying to find a way to thwart "too big to fail" without cutting megabanks down to size. It can't be done. When something is too big, the solution is to make it smaller.

Shahien Nasiripour

Obama Cooper Union Speech: Financial Reform Speech To Keep Pressure On Wall Street

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

With Goldman Sachs's top leaders in attendance, President Barack Obama urged financial executives to work with him in passing the financial reform bil...