The Federal Reserve is a hundred years old this year. There’s not a whole lot to celebrate in its century long history–the intention might have been good, but the execution has kind of been disastrous. In tonight’s film, Money for Nothing: Inside the Federal Reserve, our guest filmmaker Jim Bruce takes us through the history of the Federal Reserve System and into the current mess.
|By: Lisa Derrick Monday September 23, 2013 4:59 pm|
|By: Laura Raymond Friday September 13, 2013 2:30 pm|
As the country has been debating military intervention in Syria, the airwaves and blogosphere, conversations on the street and phone calls to Congress have rightly been filled with talk of the catastrophe caused by the Iraq War. A decade after the invasion, Iraqis and U.S. veterans are still suffering from the impacts of the war, including widespread trauma and skyrocketing rates of birth defects and cancer from the U.S.’s own use of internationally condemned weapons, such as white phosphorous, napalm-class weapons and weapons containing depleted uranium.
This week, a coalition of veterans, Iraqis and human rights groups are appealing to the United Nations Human Rights Council and the Organization of American States to urge concrete U.S. action for the devastation it has imposed.
|By: masaccio Sunday May 19, 2013 9:00 am|
A society where knowledge is irrelevant, replaced by focus-group tested slogans and canned talking points created by and for a bunch of rich people isn’t a democracy.
|By: Mike Konczal Saturday May 4, 2013 1:59 pm|
Robert Kuttner’s Debtors’ Prison ties together many of the individual fights progressives are battling over into a general argument for why our economy is broken 5 years after the Great Recession began. There are those fighting both Republicans and some Democrats on topics ranging from austerity to foreclosure relief and financial sector accountability, while there are fellow activists in Europe fighting against the European Central Bank’s policy of tight money and anti-democratic takeovers of local policy.
|By: Shahid Buttar Wednesday March 13, 2013 4:48 pm|
Last week, Senator Rand Paul (R-TX) forced a long overdue conversation in Washington about checks and balances on executive power. Yet few observers recognize the ultimate importance of his actions, or why the Senate’s confirmation of the new CIA director remained premature.
|By: Brian Sonenstein Tuesday February 26, 2013 6:43 am|
We’re happy to see the Department of Justice take Standard & Poor’s to court — but this civil suit represents just a small step in holding Wall Street accountable for the 2008 financial crisis.
|By: Jon Walker Wednesday February 20, 2013 1:40 pm|
The sequester was created in the most bipartisan way possible. It was a proposal from a Democratic President to find a way around an impasse with House Republicans that both sides each believed would eventually advance their long-term agendas. It was approved by a Republican House, a Democratic Senate and signed by a Democratic President. As a result, everyone will agree this is a truly horrible policy that will needlessly hurt the country, but no one responsible for it will probably ever pay a political price.
|By: David Dayen Monday December 17, 2012 9:05 am|
Where is Patrick Leahy on this? He has made no public statement on the HSBC case, despite being the co-author of the Fraud Enforcement and Recovery Act, which was supposed to deliver funds toward prosecuting fraudulent big bank activity (it never actually did). Grassley, a co-author, has spoken out. Why not Leahy?
|By: David Dayen Wednesday December 12, 2012 12:05 pm|
Maybe at some point, banks will face prosecution or at least fines in the Libor case. Everyone expects UBS, the Royal Bank of Scotland and several others to face some sort of sanction. But we’ve been hearing about imminent charges for months now, with nothing to show for it. Banks have individually terminated people they claim are responsible for the rate-rigging, but that internal discipline has been the only kind on offer.
|By: David Dayen Monday December 3, 2012 2:52 pm|
Late last week, the Justice Department issued a filing that attempts to reinforce the release limitations set by the foreclosure fraud settlement, stopping Wells Fargo from reimagining the deal as a broader release of liability on various mortgage claims. However, a judge will have to make the final decision.
The US sued Wells Fargo in late October over issuing insurance claims on FHA loans while knowing that the loans did not meet underwriting requirements set by the agency. Wells charged in court that these specific charges were covered under the foreclosure fraud settlement. I actually thought Wells made a fairly compelling case on that front, but the DoJ disagrees.