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Too Big to Fail

Jamie Dimon's Ultra-American Rise and Fall: The Great Gatsby Meets Moby Dick

Lynn Parramore | Posted 05.20.2013 | Business
Lynn Parramore

They called him a hero. The most esteemed banker of his time. The captain who could steer the ship while others foundered. Now the truth is out, and Wall Street's golden boy, Jamie Dimon, has fallen to earth with a thud. Why did it take so long?

Break Up Executive Pay, Not the Banks, to Fix Too-Big-to-Fail

Sanjay Sanghoee | Posted 05.19.2013 | Business
Sanjay Sanghoee

While in theory the system pays people for responsible decision-making, in practice it rewards executives for generating outsize returns even at the expense of the company's future.

When the Private Sector Goes Bad: Preying on Troops and Veterans

Hal Donahue | Posted 05.19.2013 | Politics
Hal Donahue

With President Reagan's election, the majority of the American people embraced an economic and political philosophy enshrining the private sector as the driver of US life and values. The results are in. Look around.

Cyprus Bank Panic: It Can't Happen Here -- Can It?

Richard (RJ) Eskow | Posted 05.18.2013 | Politics
Richard (RJ) Eskow

A Cyprus-like incursion on people's savings seems unlikely here.  But if the past several years have taught us anything, it's to "never say never."

Should Eric Holder Be Impeached for His Refusal to Prosecute Wall Street?

Matthew Filipowicz | Posted 05.18.2013 | Politics
Matthew Filipowicz

In a Senate Judiciary hearing last week, our nation's leading law enforcement officer, Attorney General Eric Holder said he believes that Wall Street ...

Too Big to Whale: Why JP Morgan Chase Should Be Shut Down

Les Leopold | Posted 05.17.2013 | Business
Les Leopold

Executives show utter contempt for regulators and for telling the truth. How dare those lowly public servants interfere with the banks primary mission, which is making as much money as possible, anyway possible, and damn the law!

Fed President: Too-Big-To-Fail Banks Need To Be Broken Up

Reuters | Posted 05.16.2013 | Business

(Adds details from speech) By Pedro Nicolaci da Costa NATIONAL HARBOR, Md., March 16 (Reuters) - The largest U.S. banks...

Eric Holder, "Too Big to Jail," and the Ghost of Arthur Andersen

Dan Petegorsky | Posted 05.14.2013 | Business
Dan Petegorsky

Let's not hold Arthur Andersen up as example of anything other than an enterprise brought down by corruption that started at the top and consumed a once honest firm.

Greenspan: Too Big To Fail Problem 'Is Getting Worse, Not Better'

The Huffington Post | Caroline Fairchild | Posted 03.15.2013 | Business

Alan Greenspan, a former Federal Reserve chairman, told CNBC on Thursday morning that “the too big to fail problem” is “getting worse, not bette...

How the Megabanks Just Played the SEC and Shut Out Their Shareholders

Micah Hauptman | Posted 05.14.2013 | Business
Micah Hauptman

The megabanks should welcome the opportunity to explain to their investors why they benefit from their megabank size and structure. And the SEC should permit investors an opportunity to let their voices be heard.

A Smart and Principled Plan to End 'Too Big to Fail'

Richard (RJ) Eskow | Posted 05.13.2013 | Politics
Richard (RJ) Eskow

Wall Street money and influence suffuses both our politics and our media, so the answer to that question remains to be seen. But the ideas presented by Fisher and Rosenblum should reshape our national conversation over the financial and moral failure of our current banking system.

Too-big-to-fail Banks Will Kill the Global Economy

Bill Frezza | Posted 05.12.2013 | World
Bill Frezza

Think our problems can be solved with a regulatory nip here and a fiscal tuck there? Believe that our fiscal and monetary challenges can be overcome if we just get "the rich" to pay their "fair share?"

7 Wall Street Bankers Pushing To End 'Too Big To Fail'

The Huffington Post | Harry Bradford | Posted 03.12.2013 | Business

It's troubling when some of the nation's top economists tell us Wall Street banks are too big. It's even more worrisome when bankers themselves have t...

Jon Ward

Rand Paul Cool To Idea Of Breaking Up Big Banks, Open To Starving Them

HuffingtonPost.com | Jon Ward | Posted 03.12.2013 | Politics

WASHINGTON -- Following on the breakout success of his anti-drone filibuster, expect Sen. Rand Paul (R-Ky.) to be on the lookout for other populist-th...

Big Bank Immunity: When Do We Crack Down on Wall Street?

Dean Baker | Posted 05.11.2013 | Business
Dean Baker

There is the possibility that the Justice Department really believes that prosecuting the criminal activities of Bank of America or JP Morgan could sink the economy. If this is true then it make the case for breaking up the big banks even more of a slam dunk.

Thousands Urge Obama To Break Up The Banks

Posted 04.01.2013 | Business

More than 300,000 people are calling on Attorney General Eric Holder to change his position on policing big banks. An online petition asking the O...

An Etiquette Lesson for Elizabeth Warren From 'El Loco'

Richard (RJ) Eskow | Posted 05.10.2013 | Politics
Richard (RJ) Eskow

Politicians and regulators serve criminal banks for the very same reason that Willie Sutton robbed them: That's where the money is.  If these senators don't figure that out pretty soon, they're going to have to go to the people to raise money.

Friday Talking Points -- I'd Love to Change the World

Chris Weigant | Posted 05.08.2013 | Politics
Chris Weigant

Paul Ryan introduced his version of the Republican budget this week, and it seems Ryan has agreed that two or three of President Obama's biggest budget victories actually do significantly cut the deficit, and are therefore worth including in the Republican plans for the future.

Mark Gongloff

Elizabeth Warren Goes Off On Wrist Slaps For Banks

HuffingtonPost.com | Mark Gongloff | Posted 03.08.2013 | Politics

Sen. Elizabeth Warren unloaded on bank regulators Thursday about the fact that British bank HSBC is still doing business in the U.S., with no criminal...

Congress Must End 'Too Big to Jail'

Stefanie Ostfeld | Posted 05.07.2013 | Politics
Stefanie Ostfeld

There is a clear role for the Treasury, and senators should use today's hearing to clarify it. If the Treasury has a responsibility to coordinate and ensure regulatory oversight of U.S. financial institutions, then what is it doing to ensure financial regulators provide stronger oversight?

Reward Investors in Banks That Break Up

Brent Budowsky | Posted 05.07.2013 | Business
Brent Budowsky

I agree with George Will about as often as the Boston Red Sox agree with the New York Yankees, but as the law of broken clocks suggests, we must both be right at least twice a day.

'Too Big to Jail' Is a Grave Threat to Financial Stability and Economic Recovery

David Arkush | Posted 05.07.2013 | Business
David Arkush

The big news yesterday in financial services regulation is Attorney General Eric Holder's stunning statement before the Senate Judiciary Committee that some banks may be too big to prosecute.

Holder Confesses

Mike Lux | Posted 05.07.2013 | Politics
Mike Lux

This is the ultimate Big F'ing Deal: the nation's top prosecutor openly admitting that some people and institutions are so big, wealthy, and powerful that it is the policy of the United States to hesitate to prosecute them no matter how terrible their crime.

"Some of These Institutions Have Become Too Large"

Simon Johnson | Posted 05.07.2013 | Business
Simon Johnson

The Justice Department's budget documents prominently quote Thomas Jefferson: "The most sacred of the duties of government [is] to do equal and impartial justice to all its citizens." The attorney general just told Congress and the country that this principle no longer applies to very large financial institution.

Big Banks Big In All The Wrong Places

The Huffington Post | Mark Gongloff | Posted 03.07.2013 | Business

Science has determined that people need to know 7.5 things per day, on average, about the world of business. You can't argue with science. Lucky for y...