Universal agreement on a goal -- no possibility of a future bank bailout -- doesn't necessarily mean that goal will be achieved. Our major banks are still too big to fail.
So, this spring, when the Occupy Wall Street crowd comes out of hibernation, don't be surprised if the Tea Party joins them at a new location: 70 Pine Street, the N.Y. corporate headquarters of AIG.
Our finance industry is on the attack again. The industry target now is the Volcker rule -- the proposed rule that would limit the ability of banks to trade for their own account. Leading the attack has been JPMorgan CEO Jamie Dimon.
Over the weekend, Tyler Cowen put up a column in The New York Times arguing a) that financial institutions should not be broken up and b) that shareho...
Most Americans have had it with bailouts of the big banks on Wall Street when so little has been done for Main Street.⨠āØBanks that are "too big to fail" are too big to exist.
I have never quite been able to understand how the decision was made to fire Richard Wagoner at GM but not Vikram Pandit at Citibank. Is running a huge bank really more complex than running a huge automobile manufacturer?
An outspoken critic of big banks and their mortgage practices leading up to the financial crisis may be tasked with making sure they comply with a lon...
This technology-driven, partly outsourced, too-big-to-fail bureaucracies of today are more difficult to maneuver than that of yesteryear. And the frustration and angst it breeds are one reason the Occupy Wall Street and Tea Party movements resonate with Americans.
Since I am an avowed capitalist, why should there be any issue with banks or those who have legitimately found a means by which to produce staggering wealth? For two reasons.
Note to media: Please stop referring to Eliot Spitzer as the Sheriff of Wall Street. The title certainly doesn't fit now, and arguably didn't fit a decade ago when he took Wall Street to task for putting out conflicted research on stocks.
How do we define ourselves as a nation and how do we fix what isn't working in America today? This is what has motivated so many Americans to occupy Wall Street and Main Street from coast to coast.
As public anger at Wall Street greed boils over in the form of protests spreading across the nation, the Federal Reserve Board is poised to allow creation of yet another "too big to fail" bank.
In protecting Wall Street after the 2008 crash, the executive branch violated its core constitutional duty. It is now clear that there are virtually no limits on the magnitude of the crimes that the nation's most powerful private actors can commit with impunity.
Think of Iraq as the AIG of wars -- the only difference being that the bailout there didn't involve just three payouts. More than eight years after the Bush administration invaded that country, the bailout is, unbelievably enough, still going.
The challenge is how to make our banks and our banking system stronger with the right dose of regulatory medicine. Too little will be ineffectual and too much may produce more complications than benefits.
No one is confused about the message. Wall Street got bailed out; Main Street was abandoned. The top 1% rigs the rules and pockets the rewards. And 99% get sent the bill for the party they weren't even invited to.
The time has come for an intelligent, independently-governed, public infrastructure bank, ideally partnering with real banks that see their public purpose as a profession, focused on productive lending in the real economy.
In implementing regulatory reforms, whether to resolve "too big to fail," minimize systemic risk, or address the multitude of other issues raised in Dodd- Frank, balance and perspective are critical.
Elizabeth Warren announced that she was running against Scott Brown for a U.S. Senate seat on the eve of the anniversary of the Lehman Brothers collapse. For many, Lehman's bankruptcy marks the day the wheels came off the bus and the U.S. economy went over a cliff.
This Labor Day week, we take a look at a listing of nominees for best films, tv shows, and other artistic expressions in what are called the "2011 Workers' Voice Awards" from PopWork USA.