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Wall Street Reform

Arthur Delaney

Dodd Unveils Financial Regulatory Reform Bill With 'Consumer Financial Protection Bureau' | Arthur Delaney | Posted 05.25.2011 | Politics

With reporting by Ryan Grim Sen. Chris Dodd (D-Conn.) on Monday unveiled a sweeping financial regulatory reform bill designed to prevent future Wall ...

Ryan Grim

Wall Street Reform Flies Through Committee, Headed For Floor Fight | Ryan Grim | Posted 05.25.2011 | Business

The Senate Banking Committee, after months of negotiations, finally came to bipartisan agreement on Monday evening, but it wasn't over the contents of...

Ryan Grim

Senate Votes For Wall Street; Megabanks To Remain Behemoths | 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...

Ryan Grim

Frank Battling White House On Proxy Access | Ryan Grim | Posted 05.25.2011 | Business

UPDATE, 6/24/10: Barney Frank and his House colleagues are standing strong against a White House effort to block shareholders from having proxy access...

Real Reform Gains Traction: Lincoln Stands Firm on Derivatives Overhaul

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Almost nobody in Washington wants to be caught committing an epic sell-out to Wall Street during the final stages of the reform process, when the public is watching every move. The political momentum is with Lincoln.

Goldman Sachs Case Could Help Obama Shift Voter Anger

Los Angeles Times | Posted 05.25.2011 | Business

Fraud charges leveled against the investment bank Goldman, Sachs & Co. center on complex financial dealings. But for President Obama, the accusations ...

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 | 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...

Ryan Grim

Senate Accepts Expanded Fed Audit | Ryan Grim | Posted 05.25.2011 | Business

The Senate will accept an expanded Federal Reserve audit proposal from the House as part of Wall Street conference committee deliberations, Sen. Chris...

Shahien Nasiripour

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

Laura Bassett and Ryan Grim

Big Banks Spend Millions On 'Information War' To Stop Swipe Fee Reform | Laura Bassett and Ryan Grim | Posted 05.25.2011 | Business

Visa, MasterCard and the big banks that took taxpayer bailouts have spent over $50 million in lobbying fees this Congress in a last-ditch effort to st...

Ryan Grim

New York Dems Standing Strong For Wall Street | Ryan Grim | Posted 05.25.2011 | Business

House Democrats representing New York are making a last-minute push to defend the interests of the state's most profitable industry. On Monday night...

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.

Shahien Nasiripour

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

Weekly Audit: Financial Reform Makes Headway, Jobs And Social Security In Jeopardy

The Media Consortium | Posted 05.25.2011 | Home
The Media Consortium

by Zach Carter, Media Consortium blogger Two critical Wall Street reforms, once declared dead by U.S. megabanks, are suddenly close to Congressional ...

Ryan Grim

Franken Battling Frank On Wall Street Reform | Ryan Grim | Posted 05.25.2011 | Politics

Al Franken is battling Barney Frank to save the life of a credit rating agency amendment that the freshman Minnesota Democrat was able to include in t...

Shahien Nasiripour

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

The Few: Sensible Republican Senators on Financial Reform

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

If Senator McConnell brings 40 Senators with him, they will defeat the Dodd bill -- and then smash themselves into the rocks of November 2010 as the "too big to fail" party.

Shahien Nasiripour

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

Ryan Grim

Harry Reid Charging Ahead On Wall Street Reform | Ryan Grim | Posted 05.25.2011 | Business

Fresh off their victory on health care, Democrats are pushing ahead with Wall Street reform despite Republican objections, Senate Majority Leader Harr...

Ryan Grim

GOP Warms To Breaking Up The Big Banks | Ryan Grim | Posted 05.25.2011 | Business

With additional reporting by Sam Stein When it comes to opposing the Democratic Wall Street reform plan, Republican leadership has a logic problem: I...

For Sale: One Used Attorney General?

Barbara Ann Radnofsky | Posted 05.25.2011 | Politics
Barbara Ann Radnofsky

As taxpayers we pay our elected officials to serve the people and protect our state and our interests. What happens when the very companies that our ...

Shahien Nasiripour

Obama's Treasury Dept Working To Defeat Derivatives Proposal 'Of Utmost Importance' To Reforming Wall Street | Shahien Nasiripour | Posted 06.14.2010 | Business

A Senate proposal to force banks to shed their lucrative yet risk-laden derivatives units -- which is vehemently opposed by Wall Street -- is gaining ...

Young Americans: In Rejecting Jamie Dimon, Syracuse Students Speak for the Nation

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

The students at Syracuse University are absolutely right: Dimon's a poor role model. We should be proud that they don't want life guidance from someone who has made a career of plundering the economy in the pursuit of non-productive wealth.

Rampant Fraud and Financial Collapse

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Criminal charges are likely to be filed against some of WaMu's former executives. But WaMu isn't the only bad actor from the financial crisis. This is basically how the entire U.S. mortgage market operated.