House members who plan to vote for these bills have no fear whatsoever of being so obviously in Wall Street’s pocket. The bill is exposed as being written by Wall Street lobbyists and no one cares? Then again, perhaps Wall Street writing the bills is so commonplace in DC that such a revelation is in no way surprising or worth further consideration by members of Congress.
|By: DSWright Tuesday October 29, 2013 12:50 pm|
|By: DSWright Thursday July 11, 2013 11:10 am|
The SEC is back to its old tricks, putting aside the public interest for private concerns. The latest maneuver involves lifting the ban on allowing highly risky investment vehicles known as hedge funds to advertise publicly for the first time. Yes, even in the bubblemania of the 1990s this was not done for fear people would lose their money in the riskiest part of the Wall Street casino.
|By: Jeff Connaughton Saturday April 13, 2013 1:59 pm|
Edward Luce’s book has been widely praised as carefully balanced and filled with evocative analysis and reportage. With a cast of dozens of academic, business and governmental thinkers, it wrestles with America’s relative economic decline, how the global economy is increasingly siphoning away America’s ability to innovate and manufacture, and a wide range of U.S. policy failures from education to healthcare to reinventing government. Too often Internet-entranced readers like me look for distillations to digest quickly, rather than dwell on the fascinating interviews, anecdotal treasure chest, and hard-nosed analyses in Mr. Luce’s detailed yet highly entertaining book.
|By: DSWright Tuesday January 22, 2013 5:00 pm|
The farm belt has been facing one of the severest droughts in its history and recent forecasts conclude that the next 3 months are going to make a bad situation worse. The situation has deteriorated to the point where hundreds of counties are being labeled disaster areas due to drought.
|By: DSWright Tuesday January 22, 2013 6:40 am|
The farm belt has been facing one of the severest droughts in its history and recent forecasts conclude that the next 3 months are going to make a bad situation worse. The situation has deteriorated to the point where hundreds of counties are being labeled disaster areas due to drought. Meanwhile back on Wall Street, Goldman Sachs has been harvesting mighty profits from food shortages.
|By: BevW Sunday November 18, 2012 1:59 pm|
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: Maureen Tkacik Saturday June 23, 2012 1:59 pm|
Charles Ferguson is a former Clinton Administration policy consultant and Brookings Institution senior fellow with a lifetime membership in the Council on Foreign Relations and a political science PhD from MIT. What enabled a guy with such impeccable establishment bona fides to make a documentary as comprehensively censorious of The System as Inside Job, the Academy Award-winning 2010 documentary about How It All Went To Hell is, I suspect in part, because he has also done considerable time in Silicon Valley, having founded the company that developed the web software Front Page before selling out to try his hand at filmmaking.
|By: David Dayen Monday April 2, 2012 3:30 pm|
Yves Smith points us to a nice takedown of the woeful JOBS Act, which should get signed into law this week. Chris Hayes had Bill Black and Alexis Goldstein of Occupy the SEC on to talk about it, with Rep. Carolyn Maloney making a (weak) defense. It really was no contest.
|By: David Dayen Wednesday March 28, 2012 1:10 pm|
The House may not have been able to pass a transportation bill yesterday to enable the smooth functioning of two million construction jobs, but they did find the time to kill a bunch of investor protections and deregulate the securities markets while passing the bill to deregulate potentially fraudulent investment practices.
|By: David Dayen Tuesday March 27, 2012 1:15 pm|
After both houses of Congress passed it, the White House is finally recognizing that the deregulatory bill they proposed and pushed is distasteful to liberals who have actually looked at it for longer than two seconds. Reportedly it’s part of the left over legacy of Bill Daley, but why did no one in the White House realize the problem?