Bull by the Horns is the story of financial calamity seen from the perspective of this public servant, rendered from detailed notes. We learn with whom she met, what was said, what decisions taken, and how things turned out. She begins with the battles over deregulation of the banks (Basel II), with the gathering sub-prime storm, and proceeds through the disaster: WaMu, Wachovia, Citigroup, Bank of America, AIG, Citigroup again. And then the battles of the aftermath, over among other things Dodd-Frank, Basel III and the robosigning frauds. This is a book for aficionados of infuriating detail.
|By: BevW Sunday November 18, 2012 1:59 pm|
|By: masaccio Friday November 16, 2012 6:22 am|
Bankers big and small don’t understand why people hate them. And will continue to hate them. Hint: it’s the fraud and corruption.
|By: ThirdandState Sunday October 7, 2012 7:00 pm|
As we’ve explained before — and as the U.S. military, U.S. Congress, and former President George W. Bush have all agreed — payday loans are a debt trap that further impoverishes low-income families, driving more of them into bankruptcy. Pennsylvania should leave in place the strong regulations that make use of payday loans much less common here than nationally.
|By: Dean Baker Saturday October 6, 2012 1:59 pm|
David Cay Johnston has given us another great book full of fascinating accounts of how corporations profit not by delivering a better product or being a more efficient producer but by gaming the system. This is not a pretty picture.
|By: David Dayen Saturday September 22, 2012 1:59 pm|
I believe this is former Special Inspector General of TARP Neil Barofsky’s 206th media appearance in support of Bailout. He has tirelessly criss-crossed the media landscape to tell the story of his time in Washington and offer a warning about a government captured by Wall Street.
|By: SouthernDragon Tuesday June 26, 2012 4:45 am|
A variety of links to articles/interviews/speeches on current topics that may be of interest.
|By: Jerome Armstrong Sunday June 24, 2012 1:59 pm|
The system is designed to split us, and we are the ones who have to engage in education and conversation in order to come together to reform the political structure.
|By: Gar Alperovitz Saturday May 26, 2012 1:00 pm|
It’s time to put the taboo subject of public ownership back on the progressive agenda. It is the only way to solve some of the most serious problems facing the nation. We contend that it is possible not only to talk about this once forbidden subject but to begin to build a serious politics that can do what needs to be done in key sectors.
|By: ThirdandState Wednesday May 9, 2012 5:25 pm|
|By: David Dayen Friday February 17, 2012 11:00 am|
In the aftermath of the foreclosure fraud settlement, and as we look ahead to the working group on securities fraud co-chaired by Eric Schneiderman, one of the best people to look to for answers on how this whole thing could have gone – how it could still go – is William K. Black. The author of The Best Way to Rob a Bank is to Own One, and a central figure in exposing fraud among both financial executives and members of Congress during the S&L scandal, Black has been relentless on exposing the lax nature of regulation and prosecution during the past decade and more. His latest scoffed at the new task force on securitization fraud.