National Counterterrorism Head Michael Leiter Resigns, Undermining Claimed Rationale for Mueller Extension

By: Friday June 10, 2011 8:55 am

National Counterterrorism Center head Michael Leiter resigned yesterday. After all, we spent most of Wednesday morning, during Robert Mueller’s confirmation hearing for an unusual two-year extension, talking about the importance of continuity


Robert Mueller: Anna Chapman and Mohamed Mohamud Are Bigger Threats than Lloyd Blankfein

By: Wednesday June 8, 2011 5:15 pm

In spite of his concession that the banksters’ “massive corporate frauds … weaken the financial system and victimize investors, homeowners, and ultimately taxpayers,” Mueller seems to think that a hapless teenager framed by the FBI represents a bigger threat to our country than Goldman Sachs crashing our entire economy.

Why Can’t the Department of Justice Investigate as Well as the Hapless Senate?

By: Saturday May 14, 2011 7:52 am

What does that say about DOJ, then, that the Senate is doing such a better job at investigating crimes? In just one month’s time the Senate has produced two investigations that have left DOJ–and the SEC and FEC–looking toothless by comparison.

NYT Speculates on Departure of Goldman Sachs’ Blankfein; Ignores Criminal Referral

By: Monday April 18, 2011 7:20 am

The New York Times has what I assume to be a bizarre form of beat sweetener on Goldman Sachs today. It spends most of 1,300 words speculating on who might replace CEO Lloyd Blankfein if he were to step down, exploring three possible candidates in depth. But the Times ignores one of the big reasons Blankfein might be eyeing the door.

Banker Pay Is Pretty Good – The Price of Destroying the Economy

By: Sunday January 30, 2011 7:00 pm

A few months ago, I offered my services — only half facetiously — to British Petroleum as CEO after I had read about and watched bits of Tony Hayward’s testimony before Congress. He’d acted like the Sergeant Schultz character (I know nothing, nothing!) on the old sitcom Hogan’s Heroes; I figured I could do at least as good a job as Hayward for a lot less money. Win-win all the way around for everyone!

Letter from Nigeria Goldman

By: Tuesday January 18, 2011 8:45 am

Can you really tell the difference between Nigerian phishing spam and Goldman Sach’s Facebook offering?

FDL Book Salon Welcomes Bethany McLean and Joe Nocera, All The Devils Are Here: The Hidden History of the Financial Crisis

By: Saturday January 8, 2011 1:59 pm

There are a plethora of books written, and yet to be written, about what lead up to the 2008 financial crisis, but even so, All the Devils are Here stands out. Co-authors, Bethany McLean (co-author of the bestselling, documentary-inspiring book on the Enron scandal, The Smartest Guys in the Room) and Joe Nocera (Award winning New York Times business columnist), expertly weave a narrative that captures not just the elements, but the characters of the crisis; the human flaws, choices and repercussions perpetrated by a small, dispersed collection of very dangerous people.

Why Do Conservatives Loathe Keynes?

By: Sunday August 1, 2010 10:30 am

Keynes thinks that financial markets aren’t efficient. The entire conservative economic world view rides on the Efficient Market Hypothesis. Therefore, Keynes is a commieislamofascist who hates America.

Lloyd Blankfein’s AAA Bridge He Wants to Sell You

By: Saturday May 1, 2010 1:45 pm

Blankfein claimed that he “never thought” of the fact that AAA ratings were important to sales and that some buyers only buy AAA rated products.

Goldman’s Blankfein, Tourre Come Before Senate Investigative Committee

By: Tuesday April 27, 2010 7:40 am

Carl Levin, in his statement, said that while Goldman and other investment banks, when they act properly, play a valuable role in the economy. “But in looking at this crisis, it’s hard not to echo the conclusion of another congressional committee, which found, ‘The results of the unregulated activities of the investment bankers … were disastrous.’ That conclusion came in 1934, as the Senate looked into the reasons for the Great Depression. The parallels today are unmistakable.”

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