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
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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
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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
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The Big Bank Lobby: Too Big to Bare?

240 former legislators, bank committee staffers, and Treasury officials deployed to lobby. $600 million spent in lobbying, trade association activity and political contributions since March 2008. And that is just […]
Robert Borosage
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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
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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
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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
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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
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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
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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
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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
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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
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Is Big Oil Standing Down On The Climate Bill?

While playing hardball seems to be working to maximize the chances for decent Wall Street reform, the finesse game appears to be working in the climate debate. On the heels […]
Bill Scher
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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
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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
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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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Labor Exec Shows How To Demolish Banking Industry Facade

The banking lobby, as corporate lobbies are wont to do, can build a wonderful Potemkin village of consumer delights, where a defanged government beholden to business interests smiles as unfettered […]
Isaiah J. Poole
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Wall Street Rules: The Bernanke Reappointment

The reappointment of Ben Bernanke as Chairman of the Federal Reserve — cleverly timed to defuse the news of burgeoning federal deficits — was preordained. The “markets” demanded it, and […]
Robert Borosage
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