The Bank Lobby Gets Desperate on Derivatives

Astonishingly, as Wall Street reform enters its final hours a tired, generic corporate refrain against regulation is gaining traction. As bigwig bankers and their lobbyist brethren fight to defeat tough […]
Zach Carter
  • 0

A Last-Minute Wall Street Sell-Out By New Dems?

A coalition of conservative New Democrats, whose leader is being investigated by a Congressional ethics committee over Wall Street fundraising, has officially come out in favor of gutting financial reform. […]
Zach Carter
  • 0

Will Wall Street Reform Be Gutted By A Technicality?

The tough derivatives overhaul proposed by Sen. Blanche Lincoln, D-Ark., has emerged as the key fight in Wall Street reform. That status is well-deserved. Despite Lincoln’s record as a stooge […]
Zach Carter
  • 0

The Conference Committee Must Strengthen Wall Street Reforms

Conference Committee negotiations on Wall Street reform begin today, with several key battles still unresolved. Thanks to intense progressive pressure, those negotiations are going to be televised live. You can […]
Zach Carter
  • 0

Liveblogging The Rating Agencies Hearing

Buffett is already defending Moody’s with statements that appear to be reasonable, but are in fact completely incoherent. Here’s what he says about the top brass at bailed out banks: […]
Zach Carter
  • 0

Warren Buffett, Rating Agencies and Corruption

Today’s Financial Crisis Inquiry Commission hearing on credit rating agencies promises to shed quite a bit of light on one of the most profitable and corrupt businesses in Corporate America. […]
Zach Carter
  • 0

Scaling Back Our Bloated Financial Sector

It’s been apparent for several weeks that the largest U.S. banking behemoths will remain as big and dangerous as they are today once President Barack Obama signs off on the […]
Zach Carter
  • 0

Sen. Cantwell’s Courageous Vote

The most courageous vote yesterday in the Senate was cast by Sen. Maria Cantwell, D-Wash., who refused to let the Senate sign-off on an unnecessarily weak Wall Street reform bill. […]
Zach Carter
  • 0

Liveblogging The War On Wall Street Reform

UPDATE 1:00 P.M Dodd just tried to move on amendments by Sens. Snowe, R-Maine, Landrieau, D-La., Vitter, R-La., and Whitehouse, D-R.I., and then proceed to the cloture vote. Sen. Carl […]
Zach Carter
  • 0

Chris Dodd, Phil Gramm, And The Legacy Of A Statesman

Few realized it at the time, but Senator Chris Dodd’s political career ended on June 12, 2008. That day, Portfolio magazine published its blistering expose on Countrywide Financial’s “Friends of […]
Zach Carter
  • 0

In Defense Of The Volcker Rule

Some version of Wall Street reform is going to pass the Senate this week. The question now is how strong that reform will be. There are still three crucial battles […]
Zach Carter
  • 0

Senate Approves Bernie Sanders’ Fed Audit

The Senate approved an amendment from Sen. Bernie Sanders, I-Vt., that would subject the Federal Reserve’s bailout operations to a one-time audit. The vote was 96 – 0 in favor […]
Zach Carter
  • 0

Liveblogging The Paulson-Geithner Hearing

2:20 I agree in theory with just about everything that Tim Geithner said over the past two hours. The trouble is, his solutions– a systemic risk regulator, giving regulators more […]
Zach Carter
  • 0

Liveblogging the Bear Stearns Hearing

9:00 Here we go. Bill Thomas is offering a very silly analogy between the automobile and the financial system. Both were simple 40 years ago, then both got complicated, and […]
Zach Carter
  • 0

JPMorgan Still Hates The Economy

J.P. Morgan Chase, America’s largest warehouse of arrogant financial elites, has issued yet another deceptive lobbyist smear in the guise of an “analyst report.” Yesterday, the megabank’s Chief Economist James […]
Zach Carter
  • 0

Audit The Fed!

Despite all of the attention heaped on the Treasury Department and the Troubled Asset Relief Program, the Federal Reserve served as the chief bank bailout engine in the U.S. economy […]
Zach Carter
  • 0

Stand Up To Wall Street Today

Today is the big day: thousands of people will march on Wall Street this afternoon to protest big bank abuses. After watching Wall Street stack the economic deck against, well, […]
Zach Carter
  • 0

Liveblogging The Goldman Sachs Hearing

10:00 Goldman Sachs CEO Lloyd Blankfein won’t appear before Levin’s committee until this afternoon, but his written testimony is here: http://hsgac.
Zach Carter
  • 0

Republicans Filibuster Our Financial Future

Last night, Senate Republicans proved beyond any doubt that when it comes to the economy, they stand with Wall Street and against everybody else. Joined by lone Democrat Sen. Ben […]
Zach Carter
  • 0

Larry Summers Is Lying About Big Banks

Last week, Larry Summers, the top economic adviser to President Barack Obama, gave a startlingly dishonest interview with PBS Newshour’s Jeffrey Brown. When asked directly why the White House was […]
Zach Carter
  • 0

Make Congress Live Up To Obama’s Reforms

President Barack Obama identified five major problems on Wall Street in his speech at Cooper Union today. Unfortunately, the solutions he has proposed to these problems either will not work, […]
Zach Carter
  • 0

How To Fix The Dodd Bill

Despite strong rhetoric against aggressive Wall Street lobbying and deceptive Republican attacks, President Barack Obama appears ready to declare victory on a tepid and ineffective financial reform bill. The aims […]
Zach Carter
  • 0

The Real Lehman Lesson: Break Up The Banks

Tuesday’s hearing on Lehman Brothers’ now infamous Repo 105 scam was only tangentially related to the megabank’s accounting deceptions and subsequent collapse. That story is simple: Lehman almost certainly committed […]
Zach Carter
  • 0

Liveblogging The Lehman Brothers Hearing

11:05 Rep. Anna Eshoo is laying out the case against Lehman. The company engineered a host of sham transactions to temporarily reduce the company’s massive leverage levels. Top-level management knew […]
Zach Carter
  • 0

‘The Hill’ Goes to Bat for Payday Lenders

The Hill published a truly outrageous op-ed yesterday by a payday lending front group, and didn’t bother to tell their readers their publication was providing a platform for a predatory […]
Zach Carter
  • 0

Phony Bipartisanship Won’t Fix Wall Street

I generally find Andy Kroll to be both a rigorous and persuasive journalist. He knows what he’s talking about on Wall Street reform, and he routinely pens informative yet approachable […]
Zach Carter
  • 0

Wall Street Showdown: Take Action!

The next few weeks will be crucial for the effort to rein in the Wall Street casino and hold the bailout barons accountable. Here’s a list of major Wall Street […]
Zach Carter
  • 0

Democrats Show Some Backbone on Wall Street Reform

The political battle over Wall Street reform is finally being engaged in earnest. Senate Minority Leader Mitch McConnell (R-KY) has formally thrown in his party’s lot with the nation’s largest […]
Zach Carter
  • 0

WaMu: Rampant Fraud and Financial Collapse

There are two types of financial outrages: acts that are outrageously illegal, and acts that are, outrageously, legal. Yesterday’s Senate hearing on the rise and fall of Washington Mutual was […]
Zach Carter
  • 0
1 2 3 4