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David Paul: With Wall Street Shorting the Dollar, It is Time for Congress to Pursue Fundamental ChangeDavid Paul With Wall Street Shorting the Dollar, It is Time for Congress to Pursue Fundamental Change What's Your Reaction? Just imagine how angry the American public would be if they knew the whole story. For months, we have listened to the whining from Wall Street. U.S. banks are ...
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2 weeks ago
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Wall Street Journal Supports Break-Up Of Big BanksThe editorial was mostly an assault on Democratic proposals described as offering "unlimited taxpayer funds" to bail out "just about anyone... engaging in finance of one kind or another" in a way that "would entrench moral hazard (and cheaper funding costs for the likes of Goldman Sachs) even ...
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2 weeks ago
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U.S. lawmakers consider credit card reform proposalsA Congressional panel huddled on Wednesday to consider legislation that would curb high credit card fees and penalties by many banks that have benefited from the federal government's bailout program. The bill, which would mean sweeping changes for banks that issue cards, is an important test of ...
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8 months ago
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Changing the Rules of the Blame Game | CommonDreams.orgby Bill Moyers & Michael Winship A cartoon in the Sunday comics shows that mustachioed fellow with monocle and top hat from the Monopoly game -- "Rich Uncle Pennybags," he used to be called -- standing along the roadside, destitute, holding a sign: "Will blame poor people for food." Time to ...
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8 months ago
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Hedge Fund Paid Summers $5.2 Million in Past YearTop White House economic adviser Lawrence Summers received about $5.2 million over the past year in compensation from hedge fund D.E. Shaw, and also received hundreds of thousands of dollars in speaking fees from major financial institutions. A financial disclosure form released by the White ...
Giorgio Bertini
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9 months ago
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The Magic Circle - First Read - msnbc.comIn the midst of the congressional outrage over bonuses and bailouts, many of the very firms who benefitted from TARP funds are still making political donations. And the politicians are still taking them. According to the latest F.E.C. data for February, several members of Congress who have been ...
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9 months ago
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History Belies Republican Claims that "No one could have seen this current financial crisis coming" - CONGRESS PASSES WIDE-RANGING BILL EASING BANK LAWS - The New York TimesCongress approved landmark legislation today that opens the door for a new era on Wall Street in which commercial banks, securities houses and insurers will find it easier and cheaper to enter one another's businesses. The measure, considered by many the most important banking legislation in 66 ...
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9 months ago
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Senator Sanders Blocking Key Obama Nomination—By Ken Silverstein (Harper's Magazine)I reported back in February on the case of Gary Gensler, the former Goldman Sachs employee and derivatives cheerleader who President Obama nominated to head the Commodity Futures Trading Commission (CFTC). Gensler’s nomination sailed through the Senate Agricultural Committee but Senator Bernie ...
lynn-ecg
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9 months ago
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Obama to Consider Impact of Bonus Tax on Credit, Gibbs Says - Bloomberg.comMarch 21 (Bloomberg) -- President Barack Obama will weigh the impact on credit flows before deciding whether to support a measure to impose new taxes on employee bonuses at companies that receive taxpayer aid, according to his spokesman. Obama will balance assuaging “taxpayer anger and ...
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9 months ago
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Bernanke Calls for Scrutiny of Financial Pay - NYTimes.comFed Chief Calls for Scrutiny of Executive Pay Policies Amid public outrage over employee bonuses at troubled firms like Merrill Lynch and the American International Group , the Federal Reserve chairman, Ben S. Bernanke , called on Friday for executive pay policies created with a ...
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9 months ago