A full 90 members of Congress who voted to bailout Wall Street in 2008 failed to support financial reform reining in the banks that drove our economy off a cliff. more »
Larry Summers is out, and President Barack Obama now faces a critical decision. He can focus on policy, naming a replacement who wants to ease the economic strains on American households, or he can focus on politics, naming a candidate who appeases the corporate executive class and their backers in the Republican Party. The choice should be obvious. more »
ABC News is reporting that President Barack Obama will appoint Elizabeth Warren to a "special advisory" position to set up the Consumer Financial Protection Bureau. more »
Ezra Klein has a pretty silly post up about the Wall Street regulation bill and the SEC's funding. He argues that since the SEC failed miserably in the years leading up to the crisis, it's absurd to see them getting more funding in its aftermath. more »
A lot of CNBC anchors do not seem to understand how regulation works. In fact, it appears that the network's hosts don't really grasp how basic economic competition works. If you've tuned into the business channel this summer, chances are you've heard its star reporters pushing the ridiculous bank lobbyist mantra that new consumer protections will actually make life harder for consumers. more »
Of all the accomplishments Elizabeth Warren has amassed during her lifetime, one of the most impressive is also one of the least well-known to the general public. Warren was a co-founder of Credit Slips, a very technical, influential blog on banking and bankruptcy. more »
No reformers question whether Elizabeth Warren is the best candidate to head the new Consumer Financial Protection Bureau. She's a lauded scholar, an inspiring advocate who will draw talented and dedicated reformers to the new agency and she came up with the whole idea for creating the CFPB in the first place. more »
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 »
Wall Street reform passed Congress today, with three Republicans voting "yes," among them Scott Brown of Massachusetts. But Brown's vote came with a high price tag: he insisted on both hammering ordinary citizens with new taxes, instead of imposing them on the financial behemoths that jeopardize our economic stability. more »
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