FDL Book Salon Welcomes Sheila Bair, Bull by the Horns: Fighting to Save Main Street From Wall Street and Wall Street From Itself

By: 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.


Man Wins Small Claims Case Over HAMP Abuse

By: Wednesday January 5, 2011 8:30 am

The Federal Reserve is trying to roll up a key law that allows borrowers to challenge predatory lending. Under “rescission” rules, if a borrower can prove that a mortgage loan was created in a predatory way, they can basically nullify the bank’s right to foreclose. Under the Fed’s new proposal, borrowers would have to pay off the balance of the predatory loan before the bank loses the right to foreclose, which renders a rescission judgment virtually meaningless. The entire point is to void out a fraudulent mortgage.

Liz Warren Tells Only Half the Story

By: Wednesday December 29, 2010 4:30 pm

At FDL News, David Dayen covers an article on Elizabeth Warren in which she argues, correctly, that if the new Consumer Financial Protection Bureau had been up and running years ago, much of the banking/mortgage fraud could/would have been prevented.

That’s fine as far as it goes. But there’s something missing from the polite Ms. Warren’s telling.

“Inside Job” – The Heist of Our Lives

By: Saturday October 9, 2010 4:15 pm

Charles Ferguson has made a documentary that must be seen if you want to understand why the same people who let the housing bubble and the 2008 financial meltdown happen are still in charge. But if you can’t go out and see Inside Job right away (it opened in New York and Los Angeles Friday), read Ferguson’s article, “Larry Summers and the Subversion of Economics,” summarizing his case in the Chronicle of Higher Education.

Audit the Fed Gets More Robust, Ongoing in FinReg Conference Committee

By: Thursday June 17, 2010 8:55 am

The details are still being worked out, and we have to wait and see the language, but it does appear that the House did secure more disclosure, on an ongoing basis, for the Fed’s activities. Late yesterday, at the conference committee, lead Senate negotiator Chris Dodd announced that his side would accept several provisions that would add transparency to the Fed.

Ron Paul Says Sanders “Switched and Watered Down” Audit the Fed (Video and Transcript)

By: Friday May 7, 2010 6:05 am

Good for Ron Paul for telling Rahm and his little pro-bank whip operation to get stuffed. He’s seizing a moment of transpartisan anger at the banks and he’s pointing it straight at the Wall Street apologists. It will be interesting to see how far he can take it.

Bernie Sanders Helps Obama Shield Fed and TBTF Banks From Scrutiny

By: Thursday May 6, 2010 2:34 pm

Unable to whip the votes against Audit the Fed in the Senate, the White House prevailed upon Bernie Sanders to limit the audit to only going back to 2007, and Bernie complied.  What does that mean?  Scarecrow: The key is not when they audit, it’s what the get to audit. They’ve excluded the workings of [...]

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