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Yves Smith

Jacob Lew Hasn't a Clue

Joel Sucher | Posted 08.15.2014 | Politics
Joel Sucher

At the conference Lew cast some bread upon the water -- announcing an extension of HAMP and related programs through 2016 -- and these crumbs were eagerly consumed by so-called housing advocates

Emails: ND Ethics Law Potentially Broken on Petraeus Fracking Trip

Steve Horn | Posted 08.11.2014 | Green
Steve Horn

DeSmogBlog has obtained emails via North Dakota's Open Records Statute revealing facts that could be interpreted as indicating that North Dakota Treasurer Kelly Schmidt broke State Investment Board ethics laws.

What's Crippling the Recovery, Lack of Investment Demand or Too-Big-to-Lend Banks?

Mary Manning Cleveland | Posted 03.23.2014 | Business
Mary Manning Cleveland

Under incoming Federal Reserve Chair Janet Yellen, the United States Federal Reserve Bank will begin to "taper" its program of "Quantitative Easing" o...

Watch: The Top Secret Trade Deal You Need to Know About

Bill Moyers | Posted 01.23.2014 | Politics
Bill Moyers

A cornerstone of President Obama's plan to create more American jobs is a new agreement called the Trans-Pacific Partnership (TPP), referred to by some as "NAFTA on steroids." On Moyers & Company, we discuss the TPP with two perceptive observers of the global economy.

Will Bankers at JPMorgan Chase Finally Pay for Their Misdeeds?

Richard (RJ) Eskow | Posted 07.11.2013 | Politics
Richard (RJ) Eskow

Will California Attorney General Kamala Harris hang tough in her new lawsuit against JPMorgan Chase, the first to target individual bankers accused of defrauding the public? If so, it would be the first time in five years that executives at a major bank have personally paid a price for their misdeeds.

Had Foreclosure Reviews Continued, Bank Of America Would Have Owed At Least $10 Billion: Naked Capitalism

Ben Hallman | Posted 03.24.2013 | Business
Ben Hallman

Federal bank regulators and the mortgage companies claim the recent foreclosure abuse settlement is good news for homeowners who had applied to the re...

"F" The Bureaucracy - The White House Can Help Homeowners Right Now

Richard (RJ) Eskow | Posted 10.01.2012 | Politics
Richard (RJ) Eskow

President Obama can make the moral case for America's homeowners in a clear, strong voice. So far he hasn't done that -- partly because some key members of his team buy into the unfair notion that underwater homeowners, unlike Wall Street bankers, don't deserve to be helped.

Below the Fold: Wells Fargo Gets Picked Up On Radar

Richard Zombeck | Posted 08.28.2012 | Business
Richard Zombeck

Wells Fargo can't seem to get enough bad press these days. While working with the "any press is good press" theory may work for loud mouths like Rush Limbaugh and Glenn Beck, it's not a strategy normally employed by most consumer based businesses.

New Economic Thinking Conference To Shatter Illusion of Control

Steve Clemons | Posted 06.07.2011 | Politics
Steve Clemons

As INET Executive Director Rob Johnson said, "last year's conference punctured the mystique of market stability (not to mention real events). This year, the conference will shatter the illusion of control."

Does That Proposed Foreclosure Deal Help Main Street or Wall Street?

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

We used a five-point grading process to evaluate the administration's reported proposal. Does the punishment fit the crime?

Fannie's Scandalized, Freddie's Dead -- and the Next Financial Meltdown May Have Already Started

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

Here's an idea: Let's give hundreds of billions of dollars in government-backed guarantees to private banks so they make a fortune writing mortgages without any risk to themselves. Hey, what could go wrong?

Weekly Audit: The Real Legacy of Reaganomics

The Media Consortium | Posted 05.25.2011 | Politics
The Media Consortium

By Lindsay Beyerstein, Media Consortium blogger Sunday marked the 100th anniversary of the birth of B-movie actor-turned-conservative president, Ronal...

The F Word: Attacks On Government Workers in Tax Deal

Laura Flanders | Posted 05.25.2011 | Politics
Laura Flanders

A little-noticed provision in the "tax cut compromise" we discussed today with Bernie Sanders might well drain the states' coffers.

The Robespierre of the Hedge-Fund Revolution

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

As a deregulation romance novel, hedge-fund manager Daniel Loeb's "investor letter" is a bodice-ripper. It's the latest salvo in an ongoing war against real financial regulations that protect the American people.

Jason Linkins

I Don't Know About You, But Working At Goldman Sachs Sounds Like A Harrowing, Existential Ordeal

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011 | Business

One of the items on offer in today's "Morning Take Out" on Dealbook is a link to a speech given by Alison Mass, "co-head of financial sponsors" at Gol...

Yves Smith Doesn't Dislike All Economists, Just Some of Them

Jill Schlesinger | Posted 05.25.2011 | Business
Jill Schlesinger

I sat down with Yves Smith, author of the new book Econned for an amazing analysis from one of the financial industry's greatest critics and fans.

Blankfein Plays Dumb, But Did Tourre Just Sink Wall Street?

Martin Luz | Posted 05.25.2011 | Business
Martin Luz

How do you justify selling a security that's designed to fail, designed in fact by the guy who is betting against it?

IMF Protesters Try to Disrupt Cambridge University Address by Strauss-Kahn

Steve Clemons | Posted 05.25.2011 | Politics
Steve Clemons

IMF Executive Director Dominique Strauss-Kahn is "cool under fire", as Central European University President John Shattuck said when introducing him, and didn't break his stride during his presentation at Kings College, University of Cambridge.

Magnetar How One Hedge Fund Helped Keep the Bubble Going

ProPublica | Jesse Eisinger and Jake Bernstein | Posted 05.25.2011 | Business

Several journalists have alluded to the Magnetar Trade in recent years, but until now none has assembled a full narrative. Yves Smith, a prominent fin...

Yin/Yang at the Federal Reserve

Jason Paez | Posted 05.25.2011 | Business
Jason Paez

Consumers need a strong, independent agency that does not have inherent conflict within its core mission statement.

The F Word: Credit Where Due, Geithner

Laura Flanders | Posted 05.25.2011 | Politics
Laura Flanders

We talked about the economy today, and whether Treasury Secretary Tim Geithner deserves more credit. What he should be getting credit for, it seems...

Bloggers See Gloomy Outlook For U.S. Economy, According To New Kauffman Survey

Posted 05.25.2011 | Business

According to the Kauffman Economic Outlook, a new survey of economics bloggers, web pundits' attitude toward the U.S. economy is markedly sober, with ...

New York Fed-AIG Emails Sparking New, Bipartisan Criticism Of Geithner

Posted 05.25.2011 | Business

A batch of internal emails showing that the New York Fed, at the time led by current Treasury Secretary Timothy Geithner, urged AIG to conceal certain...

The BIGGEST Revelation From 'Too Big To Fail': AIG's Secret Stash Of Bonds: Naked Capitalism

nakedcapitalism.com | Yves Smith | Posted 05.25.2011 | Business

Perhaps there is an innocent explanation for this huge stash. However, but in all my years in financial services (and having had billionaire clients w...