Making Sense Curbing Wall Street

Editor’s Note: We’re publishing a series of “Making Sense” fact sheets on key economic issues to help you win the debate on the core issues facing middle-class families. Each fact […]
Zach Carter
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Bankers Broke The Economy And Got Rich Doing It

Today’s absurd William Cohan column actually argues that we don’t need consumer protections in banking—nevermind the subprime explosion, the $8 trillion dollar housing bubble or the 1.2 million foreclosures expected […]
Zach Carter
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Why Wall Street Reform Should Hammer Bank Profits

Of the universal-policy-bloggers who occasionally wade into financial waters, Matt Yglesias is generally one of the best. But sometimes he’s just flat wrong, and his post today on financial profits […]
Zach Carter
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Crony Capitalism Wall Streets Favorite Politicians

A full 90 members of Congress who voted to bailout Wall Street in 2008 failed to support financial reform reining in the banks that drove our economy off a cliff. […]
Zach Carter
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Replacing Summers Think Policy Not Politico

Larry Summers is out, and President Barack Obama now faces a critical decision. He can focus on policy, naming a replacement who wants to ease the economic strains on American […]
Zach Carter
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Wall Street Wrecked The Economy Not Big Government

Over at bloggingheads, my CAF colleague Bill Scher discusses the new international banking standards with Conn Carroll, a conservative blogger for The Heritage Foundation. Carroll actually agrees with a lot […]
Zach Carter
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Is Elizabeth Warrens New Job a Blessing or a Curse

Reports are conflicting, details are uncertain, the White House isn’t talking on-the-record, and after a confusing evening, it’s still unclear exactly what is going on with Elizabeth Warren’s next job. […]
Zach Carter
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Is Obama Selling Out Elizabeth Warren

ABC News is reporting that President Barack Obama will appoint Elizabeth Warren to a “special advisory” position to set up the Consumer Financial Protection Bureau. We don’t know the details, […]
Zach Carter
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Basel III Is Still Bonkers

It’s been two days, and the new Basel III bank regulations are still lousy. Martin Wolf slams the international banking accord here and Yves Smith agrees here, although Felix Salmon […]
Zach Carter
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Chris Dodd is Embarassing Himself

Sen. Chris Dodd, D-Conn., is grasping at straws to block Elizabeth Warren’s nomination as head of the Consumer Financial Protection Bureau. He’s making a fool of himself, and hurting his […]
Zach Carter
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Whats the Hold-up on Elizabeth Warren

Nobody seriously disputes whether Elizabeth Warren is the best-qualified candidate to head the Consumer Financial Protection Bureau. Everybody recognizes the bipartisan political appeal that Warren has with voters, and Democratic […]
Zach Carter
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New Bank Regulations Would Bless Lehmans Risk-Taking

International bank regulators have finally agreed to a new set of rules to rein in financial excess, and the reviews thus far are cautiously positive. But the new capital requirements […]
Zach Carter
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Handcuffs For Wall Street Not Happy-Talk

The Washington Post has published a very silly op-ed by Chrystia Freeland accusing President Barack Obama of unfairly “demonizing” Wall Street. Freeland wants to see Obama tone down his rhetoric […]
Zach Carter
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Citibank Will Anyone Hold Rubin And Prince Accountable

Former Citibank Chairman Robert Rubin knew about mounting subprime mortgage losses at his company, but still allowed executives to mislead to Citibank’s shareholders about those losses, according to the SEC. […]
Zach Carter
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Liveblogging the Wachovia and Lehman Brothers Hearing

3:45 Clearly the best FCIC hearing to date. Tough questions all around. Everybody comes out of it looking bad, bankers and regulators alike, as they should. *********************** 3:30 This hearing […]
Zach Carter
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Liveblogging Bernanke & Bair

1:20 All done. Lesson: Break Up The Banks. ****************** 1:00 Most of the discussion surrounding too-big-to-fail at this hearing has dealt with a relatively short period in time: the decision […]
Zach Carter
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Bernanke Admits It Too-Big-To-Fail Lives On

Last week, Federal Chairman Ben Bernanke finally acknowledged that his preferred “solution” for ending Too-Big-To-Fail is likely unworkable. When the financial crisis exploded in 2008, top Fed and Treasury officials […]
Zach Carter
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Starving The SEC Won’t Fix Wall Street

Ezra Klein has a pretty silly post up about the Wall Street regulation bill and the SEC’s funding. He argues that since the SEC failed miserably in the years leading […]
Zach Carter
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CNBC Does Not Understand How Regulation Works

A lot of CNBC anchors do not seem to understand how regulation works. In fact, it seems like the network’s anchors don’t really get how competition works. If you’ve tuned […]
Zach Carter
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Conservatives Want To Live On Monopoly Money

Do today’s economic conservatives actually want to live in a functional society, or are they striving for an economy that runs on Monopoly Money? NPR’s Planet Money recently did a […]
Zach Carter
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Foreclosure Mills: Wall Street’s Latest Fraud Scheme

Financial giants have figured out yet another way to profit from fraud. After devastating communities across the country with shady subprime loans, the mortgage industry has launched a new assault […]
Zach Carter
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Conservatives Are Clueless On Jobs

Rep. Paul Ryan, R-Wis., is the Republican Party’s latest effort at putting forward a credible economic ideologist. His recent interview with Ezra Klein reveals this effort as a complete failure. […]
Zach Carter
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There Are Zero Good Reasons To Block Elizabeth Warren

No reformers question whether Elizabeth Warren is the best candidate to head the new Consumer Financial Protection Bureau. She’s a lauded scholar, an inspiring advocate who will draw talented and […]
Zach Carter
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The Bank Lobby Smear Against Elizabeth Warren

Ezra Klein needs to stop repeating bank lobby smears against Elizabeth Warren. He’s sympathetic to the charge that Warren is “too dismissive of the benefits of financial innovation,” because, well, […]
Zach Carter
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Wall Street Reform Clears Final Filibuster

Good news: The Senate just secured 60 votes to proceed on Wall Street reform, clearing the way for the legislation’s final passage today or Saturday. The legislation garnered the votes […]
Zach Carter
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Don’t Let Goldman Sachs Off The Hook

When the nation’s most prestigious investment banks found themselves on the verge of total annihilation in the fall of 2008, the most radical and effective government response was not the […]
Zach Carter
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Do Democrats Want Toxic Campaign Cash From Goldman Sachs?

Heavy-hitting Wall Street political donors are withholding their money from the Democratic Party’s campaign coffers, according to a Washington Post report making the rounds on Capitol Hill today. In a […]
Zach Carter
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The Lying Liars At Goldman Sachs

Today, Goldman Sachs sent its second-highest-ranking officer to Washington, D.C. to tell the Financial Crisis Inquiry Commission that his company is staffed and managed by complete idiots. In an effort […]
Zach Carter
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Feingold v. Fernholz: Vote For Wall Street Reform

Sen. Russ Feingold, D-Wis., is defending his decision to vote against the Wall Street reform bill on the grounds that it is simply too weak to prevent future crises, and […]
Zach Carter
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Wall Street Reform: A Good First Step

Members of Congress finished ironing out their differences on Wall Street reform last night, and the resulting bill deserves unequivocal support from progressives and conservatives alike. But while the final […]
Zach Carter
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