Here we go again. According to a piece in Politico Magazine former Secretary of State and likely 2016 presidential candidate Hillary Clinton had some harsh words related to progressives in her $400,000 speeches for Goldman Sachs and friends. Clinton decided to use her speaking opportunity before the super rich to attack those criticizing Wall Street and its numerous criminal practices.
|By: DSWright Thursday December 12, 2013 8:41 am|
|By: DSWright Tuesday December 10, 2013 11:05 am|
The Volcker Rule has been formally approved by the FDIC, Federal Reserve and SEC. The Volcker Rule, named after former Fed Chairman and advocate Paul Volcker, was passed as part of the Dodd-Frank reform act in 2010 and is meant to prevent or limit large Wall Street banks from proprietary trading – trading on their own account.
|By: DSWright Friday November 8, 2013 9:30 am|
Is there anyone left who doesn’t think Wall Street has a culture of corruption? Even the President of the New York Federal Reserve William Dudley, a former Chief Economist at Goldman Sachs, has now critiqued Wall Street’s open contempt for the rule of law. Dudley claimed the banksters have displayed “deep-seated cultural and ethical failures.”
|By: masaccio Sunday October 20, 2013 10:30 am|
Let’s hope that the trend of defeats for the rich and their neoliberal trolls will reach the public at large, and that things will gradually change for the better.
|By: DSWright Wednesday October 16, 2013 10:35 am|
The New York Federal Reserve was not content with just firing Carmen Segarra for taking on Goldman Sachs now they are trying to have her lawsuit sealed. The NY Fed’s justification for sealing the documents and parts of the complaint is the accusation that Segarra stole the documents she is using in her case. In other words, the Fed is continuing its long tradition of secrecy and opacity
|By: Cynthia Kouril Sunday October 13, 2013 4:00 pm|
So, my neighbor made this video about why gasoline prices are so high when demand is down and supply is up. You should watch this.
You are not going to like the answer.
|By: Peterr Saturday October 12, 2013 12:40 pm|
Back in 2009, law professor and former banking regulator Bill Black excoriated the internal corporate culture of the Federal Reserve when it comes to banking regulatory oversight. For a very specific illustration of what Black was talking about, just take a look at the complaint filed by former banking regulator Carmen Segarra against her former employer, the Federal Reserve Bank of New York. She was hired and assigned to investigate problems at Goldman Sachs, and when she and her team discovered some major problems, she was pressured to downplay them and back off. When she refused, she was terminated and Goldman Sachs was given a clean bill of health by the folks that fired her.
You’re shocked, I know. But the details, along with the documentation, are the truly shocking part of all this. Not about Goldman Sachs, but about their pals at the Federal Reserve Bank of New York.
|By: DSWright Friday October 11, 2013 8:40 am|
Former New York Federal Reserve Bank Examiner Carmen Segarra has a filed a wrongful termination lawsuit against the New York Federal Reserve. In the suit Segarra claims that while acting as a bank examiner for the NY Fed she was told to falsify findings on Goldman Sachs, when she refused was fired.
|By: DSWright Thursday September 26, 2013 8:35 am|
So, Wall Street, what have you learned the last five years? What is the lesson?
|By: DSWright Tuesday September 24, 2013 8:35 am|
The National Credit Union Administration (NCUA), a government regulator, has filed a lawsuit against Morgan Stanley, Barclays, JPMorgan, Credit Suisse, Royal Bank of Scotland Group, and UBS for selling fraudulent mortgage-backed securities to credit unions. The sales of these securities amounted to $2.7 billion. Goldman Sachs, Wachovia, Wells Fargo, and Ally Securities also allegedly sold faulty securities according to one of the credit unions involved in the lawsuit.