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Too Big to Fail

George Carlin Was Right, About the Death Penalty and Bankers

Richard Greener | Posted 05.25.2011 | Business
Richard Greener

George Carlin didn't quite live long enough to see the Great Wall Street Heist of 2008. But it doesn't take much to imagine his reaction to "Too Big To Fail."

Golden Bull

Mike Lux | Posted 05.25.2011 | Politics
Mike Lux

Republicans are threatening to filibuster a bill to regulate the big banks and hedge funds that trashed our economy and that would be the greatest gift they could possibly give Democrats.

Goldman Sachs: Too Big For Jail?

Don McNay | Posted 05.25.2011 | Business
Don McNay

Just because the SEC filed a lawsuit, it doesn't mean they will win. Goldman Sachs could easily prevail. Before we start breaking out the champagne, let's look at what is actually going on.

'Move Those Dollars': Anti-Usury Campaign Shares Principles With Move Your Money (VIDEO)

Posted 05.25.2011 | Business

It may have sounded like music to the ears of Move Your Money proponents. Chants of "move those dollars" and "move that money" rang out last week i...

Thomas Hoenig: Top Fed Official Says Financial Reform Favors Wall Street Over Main Street

New York Times | Posted 05.25.2011 | Business

Unfortunately, the proposal for regulatory reform now before the Senate does not eliminate the concept of too-big-to-fail, and it deliberately narrows...

It's Time to Cut Goldman Sachs and the Rest of Them Down to Size

Joseph A. Palermo | Posted 05.25.2011 | Business
Joseph A. Palermo

Hopefully, the SEC's pursuit of long-overdue fraud charges against Goldman Sachs is only the beginning of a process that will take the country back from these financial monopolists.

Ryan Grim

Senate Votes For Wall Street; Megabanks To Remain Behemoths

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Business

A move to break up major Wall Street banks failed Thursday night by a vote of 61 to 33. Three Republicans, Richard Shelby of Alabama, Tom Coburn of O...

SIMON JOHNSON Gulf Oil Spill Shows Why Living Wills Fail In Finance

New York Times | Simon Johnson | Posted 05.25.2011 | Business

A central idea in the financial regulations undergoing final negotiation in the United States -- and in similar initiatives in Europe -- is that large...

The Only Way to Prevent Another Bailout of Wall Street is to Cap the Size of Wall Street's Big Banks

Robert Reich | Posted 05.25.2011 | Business
Robert Reich

The so-called "resolution" mechanism the Democrats are pushing to wind down any big bank that gets into trouble is a step in the right direction. But it won't work if two or more giant banks are simultaneously endangered.

Shahien Nasiripour

Bernanke: Financial Reform Could Limit Megabank Growth, But Won't End Too Big To Fail

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Federal Reserve Chairman Ben Bernanke said Wednesday that the pending financial reform legislation before Congress could have the effect of simplifyin...

Shahien Nasiripour

Charles Plosser, Philadelphia Fed Chief, Criticizes Financial Reform Bills, Says They Don't End 'Too Big To Fail'

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

A top Federal Reserve official reiterated his call Wednesday for a tougher approach to ending Too Big To Fail, arguing that the current pending legisl...

Does Dow 11,000 Mean Total Victory for Wall Street?

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

Now that the Dow is shooting past 11,000, Congress has the perfect excuse to pass a pathetic set of watered down financial reforms. Arguments between Democrats and Republicans are for political show. The bankers already have won.

Friday Talking Points [119] -- Democrats, Sell Yourselves!

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

Democrats won't succeed in getting public opinion behind their Wall Street reform if they let their opponents define the bill. So far, they've been doing an excellent job defining it themselves, for once.

The Case Against Jamie Dimon: Oligopoly, Pain, and Systemic Risk in Five Slides

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

Here's the danger: the centralization of risk and power is leading us right into another disaster. We need to get the banking oligopoly under control. But Jamie Dimon is fighting back tooth and nail. And that's why we must fight Jamie Dimon.

Shahien Nasiripour

Volcker: New Government Powers Won't Be Able To Dismantle Megabanks; Too Big To Fail Lives Despite Reform Bill

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Updated at 5:45 p.m. ET. Former Federal Reserve Chairman Paul Volcker believes the centerpiece of the administration's effort to end Too Big To Fail ...

John Mauldin: Reform Credit-Default Swaps And End Too Big To Fail -- Or Else 'We'll Have A Real Crisis' (VIDEO)

The Huffington Post | Grace Kiser | Posted 05.25.2011 | Business

In an interview with Aaron Task and Henry Blodget on Tech Ticker today, John Mauldin, the influential investor behind the online newsletter "Thoughts ...

Shahien Nasiripour

Another Top Fed Official Calls For U.S. To Break Up Megabanks

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Referring to the danger posed by megabanks as one that's able to spread "debilitating viruses throughout the financial world," a second top Federal Re...

Sheila Bair, FDIC Chief: Reform Bill Will Make Bailouts 'Impossible'

American Banker | Rob Blackwell | Posted 05.25.2011 | Business

Would this bill perpetuate bailouts? SHEILA BAIR: The status quo is bailouts. That's what we have now. If you don't do anything, you are going to kee...

Why I Moved My Money

Alan Cumming | Posted 05.25.2011 | Business
Alan Cumming

Goldman Sachs emailed me to remind me of the amount of cash I made whilst my money was with them. This of course just reminds me of why I moved my money in the first place: it was the only way I could show that I did not approve of them.

'13 Bankers' In 4 Pictures: Why Wall Street Profits Are Out Of Whack

James Kwak | Posted 05.25.2011 | Books
James Kwak

We're not saying that everyone has to agree with everything we say about these pictures. But they make clear what kind of financial system we have today. And they need some kind of explanation.

Shahien Nasiripour

St. Louis Fed Chief Calls For Megabanks To Be Broken Up, Joins Other Top Fed Officials

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

A third top Fed official is calling for megabanks to be broken up. James Bullard, president and chief executive of the Federal Reserve Bank of St. Lo...

Banking in America: Swimming in the Deep End

Dennis Santiago | Posted 05.25.2011 | Business
Dennis Santiago

It occurred to me that, somewhere along the way, people might be curious about understanding bigger banks in some context other than political vilification.

Fact-Checking The War Of Words On Financial Reform

AP | JIM KUHNHENN | Posted 05.25.2011 | Business

WASHINGTON — Republicans say White House-backed legislation to oversee the financial industry would lead to more government bailouts. Democrats ...

Don't Forget the Kanjorski Amendment

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

The Kanjorski amendment is important for the next time a major bank gets into serious trouble. Judging from their current swagger and the slogans you hear from top bankers, we only have to wait a few years for the next bailout cycle.

Senator McConnell Is Wrong, Senator Kaufman Is Right. Any Questions?

Baseline Scenario | Simon Johnson | Posted 05.25.2011 | Business

Senator Mitch McConnell continues to insist that the Dodd bill creates permanent bailouts -- and that it would be definitely better to do nothing. Ap...