Four years later, we have not seen a systematic dismantling of the conditions that created the crisis. We’ve seen trillions in emergency support thrown at the banks that survived the crash, all of whom have grown bigger and more indispensible, even more “Too Big to Fail” than before. We’ve seen cosmetic regulatory changes, many unrelated to the crash at all, which have not yet been tested and in many not yet implemented. And the core problems of a massive financial sector have not been resolved.
|By: David Dayen Monday September 17, 2012 2:55 pm|
|By: David Dayen Friday May 25, 2012 7:32 am|
The Securities and Exchange Commission has ended their probe of Lehman Brothers without making any enforcement actions. It’s only the latest in a series of investigations that have either turned up empty or resulted in what amounts to a slap on the wrist.
|By: SouthernDragon Thursday March 1, 2012 4:45 am|
A variety of links to articles/interviews/speeches on current topics that may be of interest.
|By: masaccio Sunday September 25, 2011 11:00 am|
All of our financial elites are Oh! So Innocent! Eric Holder and Barack Obama agree.
|By: Dean Baker Sunday July 3, 2011 1:00 pm|
It really is incredible to see such a concerted effort to rewrite history in front of our faces. There is not much ambiguity in the story of the housing bubble. The private financial sector went nuts. They made a fortune issuing bad and often fraudulent loans which they could quickly resell in the secondary market. The big actors in the junk market were the private issuers like Goldman Sachs, Citigroup, and Lehman Brothers. However, George Will and Co. are determined to blame this disaster on government “compassion” for low-income families.
|By: Peterr Saturday October 16, 2010 9:00 am|
Watching the MOTUs as their financial services universe shakes and shudders around them reminds me of the five stages of death and dying. There’s lots of denial and anger coming out of the MOTUs, and hints of bargaining, but little sign of depression and acceptance. But it’ll come . . .
|By: masaccio Thursday September 23, 2010 4:00 pm|
Repo 105? What’s that? It’s immaterial, and besides, Ernst & Young says it’s great. And we told you we were screwing around with our balance sheet. So go away, silly investor. We took your money fair and square.
|By: masaccio Sunday September 19, 2010 10:30 am|
The Lehman Brothers bankruptcy case grinds along. Their financials sucked, it’s JPMorgan’s fault, and they screwed thousands of Hong Kong residents. No one is responsible for anything.
|By: masaccio Monday May 31, 2010 1:19 pm|
The bankruptcy estate of Lehman Brothers sued JPMorgan for the actions JPMorgan took in the weeks prior to bankruptcy. Lehman alleges that JPMorgan sucked up all its assets to be held as collateral, forcing it into a disorderly bankruptcy that caused unsecured creditors massive losses. Why? For money and business opportunities. What better way to grow than to eat a competitor?
|By: masaccio Sunday May 30, 2010 10:30 am|
The bankruptcy estate of Lehman Bros. claims that JPMorgan forced Lehman into a sudden bankruptcy, to save itself money it might have had to pay Lehman on derivatives. It’s another example of the wolves of Wall Street eating their own.