Liveblogging the Washington Mutual hearing

4:25 Levin is ripping Killinger on option-ARM delinquencies. WaMu performed a study concluding that option-ARMs were about to default like crazy, and right after that study, WaMu started pushing option-ARM […]
Zach Carter
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Liveblogging the Fannie Mae Hearing

2:00 FCIC Commissioners today have been much more aggressive than they’ve been in any hearing thus far. Watching Bill Thomas go after Fannie Mae exec Robert Levin on lobbying was […]
Zach Carter
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Why Is It So Hard To Hold Wall Street Accountable?

The Financial Crisis Inquiry Commission hearings continue to be a broad, boring failure, peppered with a few moments of significant insight. Throughout most of yesterday’s hearing featuring the nation’s top […]
Zach Carter
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Finally! The SEC Charges a Big Bank With Fraud

Finally! Nearly two years after one of the worst financial crashes in history—and nearly three years after the crisis broke out—the SEC has charged a major bank with accounting fraud. […]
Zach Carter
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10 Questions For John Dugan and John Hawke

The Office of the Comptroller of the Currency (OCC) is the top bank regulatory agency in the United States. It oversees the largest banks in the country, and completely failed […]
Zach Carter
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10 Questions for Robert Rubin and Chuck Prince

Robert Rubin and Chuck Prince ran the financial giant Citigroup in the years leading up to the Great Financial Crash of 2008. Together, their leadership proved so disastrous that the […]
Zach Carter
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Paul Krugman is Wrong About the Big Banks

I rarely accuse Paul Krugman of failing to think clearly, but he’s missed the mark with his his argument against breaking up the U.S. too-big-to-fail financial oligarchy. Here’s Krugman’s core […]
Zach Carter
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Jamie Dimon’s Assault on the Economy

The latest letter from J.P. Morgan Chase CEO Jamie Dimon to his company’s shareholders is a deliberate effort to obfuscate his own bank’s rapaciousness and deflect attention from the enormous […]
Zach Carter
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Will Weak Reforms Bring On Another Crisis?

Senate Banking Committee Chairman Christopher Dodd, D-Conn., unveiled his latest financial reform proposal on Monday, and the stakes for the new legislation couldn’t be higher. After consumer groups raised a […]
Zach Carter
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The Rising Toll Of Wall Street’s Global War

WEEKLY AUDIT The Global Economic Crisis Over the past thirty years, Wall Street has waged a steady war against governments around the globe, convincing policymakers of various ideological stripes that […]
Zach Carter
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Don’t Let Citizens United Wreck Our Economy

In a landmark decision last week, the Supreme Court ruled that corporations could spend unlimited funds to influence American elections, overturning a century of legal precedent. The Court’s ruling in […]
Zach Carter
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The Weekly Audit: Why Accountability Matters

With workers all over the globe trudging through a catastrophic recession, it’s almost a given that governments will be battling the economic slide for a long time. Part of the […]
Zach Carter
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