Corporations are funneling money to anti-consumer, anti-worker, anti-environment, right-wing governors who work against the interests of their customers and employees.
AIG's lawsuit, which featured testimony from two former Treasury secretaries, is giving the American people some hard lessons in the workings of the bailout process and the shortcomings of our current economic system.
Carmen Segarra was appointed to oversee a sleazy and disreputable institution with a record of bad behavior for which it had recently paid a record fine. That's important to remember when you hear her tapes.
Undoubtedly there are positives to Eric Holder’s tenure as attorney general, but one really big minus is his decision not to prosecute any of the Wall Street crew whose actions helped to prop up the housing bubble.
A campaign by National People's Action is mobilizing grassroots political support for robust Consumer Financial Protection Bureau rules that will rein in the payday lending industry, in anticipation of well-funded pushback.
On Monday, a day after an estimated 300,000 to 400,000 people participated in the People’s Climate March in New York, a smaller group of activists set out to shut down Wall Street.
Six years ago, Wall Street's giants were falling like dominoes. Henry Paulson and Tim Geithner told Congress that failing to bail them out would lead to a second Great Depression. It was nonsense then. It's even greater nonsense now.
Two little-known rules on executive pay are currently being reviewed by the Securities and Exchange Commission. While they have received almost no press coverage, they may have far-reaching consequences.
Are We the People the boss of the corporations, or are the corporations the boss of We the People? The Securities and Exchange Commission (SEC) needs to be reminded which way that question is supposed to be answered.
The much-lamented lack of transparency around private equity deals makes it difficult to figure out the precise returns to the pension funds and other limited partners in the Bain and Blackstone funds.
Everyone is talking about a favorite Wall Street trick called stock buybacks. But what are they and what do they mean to you? Business expert William Lazonick answers with a clarion call for changing the way America does business.
We hear a lot of big talk about how Dodd-Frank has made the financial system safer. It's supposed to protect us from another financial crisis like the one in 2008. But does anybody really believe it? The bank regulators sure don’t.
The numbers that accompany these deal announcements always seem impressive. Compared to the wealth that bank fraud has taken from American households, these settlements are a drop in the ocean.
If the private equity industry wants to be seen as a force for good, it's going to have to stop engaging in the kind of financial engineering that weakens companies but still assures a handsome payday for a few owners.
This deal with Citigroup is being trumpeted as a major win for the American people. It’s not. The money’s not enough, the wrong people are paying, and there will be no prosecutions.
It was good to hear President Obama say that reining in Wall Street’s high-risk behavior is an “unfinished piece of business.” It would be even better if this observation were quickly followed by action.
You would think that seeing House Majority Leader Eric Cantor fall off his perch would cause his fellow House Republicans to approach their handling of Wall Street interests with a new level of sobriety. Not this week.
On "The Big Picture," a vision of a Federal Reserve that serves the interests of ordinary people and not just bankers, and a look at the latest shooting incident involving right-wing extremists.
The president has an opportunity to make the Fed more democratic, in a way that would be economically transformative and politically popular. It’s also what the law requires.
Economists Amir Sufi and Atif Mian in their latest book challenge many of the assumptions behind how elected officials responded to the 2008 recession. Sufi explains the crucial mistake policymakers made.
"The Pillow Book of Sei Shōnagon" is considered an invaluable record of a pampered and long-vanished Japanese imperial court. Someday we may look at former Treasury Secretary Tim Geithner's memoir "Stress Test" the same way.
Two economists make a convincing case that the 2009 recession wouldn't have been any more harmful than previous ones if financial decision-makers had rescued homeowners, rather than only concentrating on bankers.
Former Sen. Ted Kaufman, one of the great heroes in the fight for financial reform, doesn’t pull any punches in reacting to a report highlighting a lack of zeal in prosecuting Wall Street foreclosure fraud.
A star on the hit "The Walking Dead" and four other film stars collaborate with director David Yates on a short film that takes viewers into a future in which a financial transaction tax is a reality.
With one in four American households underserved by the current banking system, and with the U.S. Post Office in search of more revenue, why not use the postal system to offer banking services to lower-income households?
How did Tuesday night’s State of the Union speech resonate on Wall Street? Sometimes the old saying is literally true: Silence is golden. Perhaps that’s not surprising. But the nation deserved better.
A new Toronto-based campaign is aiming to change the global conversation on CEOs, workers and labor's real value, certifying enterprises that pay their top execs no more than eight times their lowest-paid workers.
Politico reported recently that "Washington went to war against big Wall Street banks" and "Washington won in a blowout." If the banks are losing a war, every conqueror since Genghis Khan would be glad to do the same.
In 2010, the Heritage Foundation ranked Ireland in the top 10 of its "Economic Independence Index." Four years later, conservative austerity policies have wrecked Ireland's economy and other European economies.
Business should be here to serve American needs, not control us and commercialize everything that we do. We must shift the power back to actual people. Only then can we stop the cycle of putting profit before people.
The Equal Employment for All Act is an admirable and important bill which deserves our support. It also gives us an opportunity to have a broader discussion about the kind of society we hope to become.
... introduces a very useful piece of legislation. Now, employers may very well find ways to use this information anyway. But at least it's a consciousness raising exercise that could affect some corporations. This is good stuff.
If you haven't been able to get a raise in your low-wage job, or if you've had a hard time getting a job at all, those stock buybacks could be a major reason why.
Regulators want to start making banking boring again. Today, five different regulatory agencies are expected to adopt the Volcker Rule, which would redraw a line between regular banking and Wall Street gambling.
For a lot of people, government is seen as a simple tool to take their money and give it to people who don't "deserve" it. That's how these ideas are sold to the people --- by appealing to their baser natures.
Four and a half years after the "recovery" began, economic pain remains widespread. Yet the Washington/Wall Street tell Americans, "Have patience." Now, Larry Summers suggests a core economic assumption of the American elite might be dead wrong.
On Tuesday, the Justice Department announced that JPMorgan has agreed to a $13 billion dollar settlement over the fraudulent sale of mortgage backed securities. But, that settlement is a fraud in and of itself.
Beneath the Tea Party-generated gridlock in Washington, continued mass unemployment and growing inequality are confounding the old economic consensus. Heresies sounded in the temples of the old faith suggest the debate on reform has only begun.
Sen. Elizabeth Warren says progressive Davids can win against the banking Goliaths and rebuild the wall between retail banking activities and the kind of high-risk financial bets that contributed to the 2008 financial crisis.