Filling the Crater Left by the Financial Crisis Bomb

By: Saturday November 3, 2012 9:00 am

The latest jobs report is out, painting a picture of an economy slowly climbing out of a major crater. As the Financial Crisis Inquiry Commission said right at the top of their final report, things did not have to be this way. This was an avoidable crisis, and it was exacerbated by risky and illegal business practices, regulatory failures, and systemic problems related to oversight and accountability.

While the top race on next Tuesday’s ballot will surely affect how things move forward next year, it’s the lower level races that have the potential for really moving things in a new direction in DC. There’s a big crater that still needs to be filled, and getting local officials in office who are willing to scream for accountability, for regulation, and for good government that addresses the needs of the people is probably the most direct way I can help.

 

The Democratic Platform’s Nonsense on Banks

By: Tuesday September 4, 2012 3:17 pm

The Democratic Platform seems to have missed the central point of the banking mess: the Obama administration did not investigate the disaster, and didn’t indict anyone for the crimes that led to the Great Crash. In fact, the administration specifically refused to follow up on criminal referrals from the Financial Crisis Inquiry Commission regarding one of the Goldman Sachs mortgage deals, saying as it always does, that it stinks, but isn’t a crime.

Angelides: Why No Prosecutions From Clayton Holdings Data?

By: Friday March 2, 2012 9:55 am

I want to turn back to Phil Angelides’ op-ed in the New York Times this morning, because in addition to making the case for bank accountability as a deterrent to future crimes, he says that the relevant authorities have had smoking gun evidence in their hands for two years.

Financial Crisis Commission Referred Criminal Securities Fraud Violations to Justice Department a Year Ago

By: Monday January 30, 2012 12:40 pm

Douglas Holtz-Eakin, a Republican commissioner on the FCIC who did not sign onto the final report, made some statement to the media about how the FCIC already investigated the areas of inquiry concerning the crash of the housing bubble and found no criminal wrongdoing. But the Chair of the FCIC, Phil Angelides points to the FCIC’s report noting there were criminal referrals, and that was a year ago.

Republican FCIC Commissioners Shared Internal Documents with Outside Operatives

By: Wednesday July 13, 2011 3:00 pm

When Darrell Issa took over the House Oversight Committee, Democrats were nervous that he would use it as a launching pad to pummel the White House with frivolous investigations. It hasn’t really worked out that way. And now, he’s covering investigations up.

Statute of Limitations for Securities Fraud Burns, US Attorney for SDNY Fiddles

By: Friday February 18, 2011 2:30 pm

Preet Bharara, the US Attorney for the Southern District of New York, is letting the statute of limitations run on securities fraud related to sales of real estate mortgage-backed securities. He’s very busy with insider trading cases and partying with his buddies at the law firms that got reich creating teh deals and then coping with the fall-out.

Huffington-AOL Deal: Asking Tough Questions Not a Matter of Left or Right

By: Monday February 7, 2011 1:20 pm

Whether the even richer Arianna Huffington and her new venture represents the public remains to be seen, but in asking these questions thus far, it most certainly has. And there is an army right behind her if she fails to continue.

Why Aren’t Geithner And Holder Acting On Failure To File Suspicious Activity Reports On Mortgage Fraud?

By: Saturday February 5, 2011 11:50 am

The Final Report of the Financial Crisis Inquiry Commission talks about Suspicious Activity Reports, but doesn’t connect the dots. Neither did FinCEN, the federal agency responsible for handling them, or Timothy Geithner, who is in charge of FinCEN, or Eric Holder, the AG, charged with prosecuting mortgage fraud and failure to file SARS, among other things.

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