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Too Big to Fail

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...

It's Official: Too Big to Fail Banks Are Too Big to Jail

Robert L. Borosage | Posted 05.07.2013 | Politics
Robert L. Borosage

Congress has only two choices. The big banks can be nationalized and treated as public utilities. The public would pocket their profits and cover their losses. Or the big banks can be broken up, and be accountable to both the law and the market.

Warren Takes On Holder's 'Too Big To Jail' Claim

The Huffington Post | Mollie Reilly | Posted 03.07.2013 | Politics

Sen. Elizabeth Warren (D-Mass.) took on Attorney General Eric Holder's admission that some banks are too big for the Justice Department to prosecute, ...

Mark Gongloff

Holder: Banks Too Big To Prosecute

HuffingtonPost.com | Mark Gongloff | Posted 03.06.2013 | Business

When the Attorney General of the United States admits some banks are simply too big to prosecute, it might be time to admit we have a problem -- and t...

Three Solutions to the Oligarchy Problem

Zephyr Teachout | Posted 05.06.2013 | Politics
Zephyr Teachout

If we want a society of smaller and medium-sized firms, we can have it -- there are no constitutional constraints. We need a strong antitrust regime and stronger antitrust laws, and the capacity to enforce those laws located in people who aren't tied into the oligopoly.

Banks, Food, and Telecom: Break Them Up

Zephyr Teachout | Posted 05.01.2013 | Politics
Zephyr Teachout

There was a lot of typical surface chatter yesterday -- the sequester, the Pope, BW (Bob Woodward), BW (Business Week), Groupon -- but under the surface something far more important was happening.

The Mission of Government

Mike Lux | Posted 04.30.2013 | Politics
Mike Lux

Right wing forces in this country are obsessed with the size of government, but the fundamental debate we should be having is not the size of government but what the goal of government should be: What should government's central mission be?

Mark Gongloff

Warren vs. Bernanke Over 'Too Big To Fail'

HuffingtonPost.com | Mark Gongloff | Posted 02.27.2013 | Business

Newly minted Sen. Elizabeth Warren on Tuesday showed why big banks are not her biggest fans, grilling Federal Reserve Chairman Ben Bernanke about the ...

Report: U.S. Banks Actually Bigger Than Entire U.S. Economy

The Huffington Post | Mark Gongloff | Posted 02.20.2013 | Business

Perhaps you know about U.S. banks being too big to fail, or to jail, or to take to trial. But quite literally, you may not know the half of it. Th...

Zach Carter

Top Fed Official Endorses Breaking Up 'Too Big To Fail' Banks

HuffingtonPost.com | Zach Carter | Posted 02.19.2013 | Politics

WASHINGTON -- A top Federal Reserve official is having second thoughts about his 2009 declaration that breaking up the biggest Wall Street banks is "m...

Is Wall Street's Business Model Corrupt?

Les Leopold | Posted 04.14.2013 | Business
Les Leopold

When what you do is make money from money, it seems as if breaking or avoiding laws and rules create victimless crimes. It's all a big game, where each person is trying to out-hustle the other. It's him or me so what does it matter if we both cheat a bit?

Zach Carter

Republicans Offer Wall Street Reform Deal

HuffingtonPost.com | Zach Carter | Posted 02.12.2013 | Politics

WASHINGTON -- After more than four years of blanket opposition to Wall Street reform, House Republicans are finally offering Democrats a deal. But the...

Zach Carter

Former Government Regulators Help Keep Banks Too Big To Fail

HuffingtonPost.com | Zach Carter | Posted 02.11.2013 | Politics

WASHINGTON -- The steady flow of officials from the Securities and Exchange Commission into top corporate jobs feeds a regulatory culture of weak law ...

TBTF, TBTJ: Too Big to Exist

Mike Lux | Posted 04.10.2013 | Politics
Mike Lux

I remain troubled by the fact that fundamental economic issues seem to be the last thing on anybody's minds in D.C. And looming over these economic problems is the elephant in the room: these Too Big To Fail, and apparently Too Big To Jail, Wall Street financial conglomerates.

What JPMorgan's Recently Released Internal Reports Unintentionally Say

John Fullerton | Posted 04.08.2013 | Business
John Fullerton

That regulators condone the continued use of VAR models and get pushed around on tougher capital and liquidity limits can only mean one thing: they have concluded that it's simply too dangerous to the system to reveal that the emperor has no clothes.

Sherrod Brown, Chuck Grassley Turn Up Heat On Banks

Reuters | Posted 03.31.2013 | Politics

WASHINGTON, Jan 29 (Reuters) - Two U.S. senators on Tuesday questioned whether the Justice Department has been aggressive enough in prosecuting misc...

Tim Geithner's Biggest Problem

The New Republic | NOAM SCHEIBER | Posted 01.28.2013 | Politics

What are we to make of Tim Geithner on his last day as Treasury Secretary? For my money, the story that best gets at his essential Geithner-ness took ...