President Barack Obama and Congressional Republicans are ready to mortgage the American economy to billionaires in exchange for a few months of unemployment benefits. This deal is easily the gravest economic outrage of the Obama presidency to date, and signals that other political assaults on the economy are ahead. more »
There’s been plenty of recent media attention to the prospect of investor lawsuits over fraudulent mortgages and mortgage securities. But investor lawsuits against mortgage servicers could be even more damaging than these other lines of legal inquiry. more »
I attended two big economic gatherings this week, one on financial reform organized by finance blogger Mike Konczal for The Roosevelt Institute, another on the economic outlook, presented by the more »
Most of the discussion surrounding too-big-to-fail at this hearing has dealt with a relatively short period in time: the decision to bailout a firm, and what happened right after that decision.
This is an important part of the issue, but it's by no means the whole story. more »
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.
Today, President Barack Obama will sign into law the first serious effort to regulate Wall Street in decades. The bill has much to be said for it, but the unfortunate truth is that it ducks several of the most critical reforms needed to protect our economy from banker abuse. more »
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. more »
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