The Financial Crisis Inquiry Commission examines the collapse of Bear Stearns, the Wall Street brokerage firm that ended up being merged with JPMorgan Chase during the heart of the financial crisis. Bear Stearns argues that unsubstantiated rumors precipitated its collapse, but commissioners help make the case that it was Bear Stearns own business practices, forged in a deregulated environment, that laid it low.
The financial services reform bill is on the Senate floor this week. The recently announced criminal investigation of Goldman Sachs, the bumbling testimony of Goldman's "Fabulous Fab" and the rocking Wall Street protest last Thursday show that momentum is with reformers. more »
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 banks, and to their credit, Democrats appear to be pushing back, both on politics and policy. more »
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 company was forced to beg for one of the largest bailouts in economic history. more »
I rarely accuse Paul Krugman of failing to think clearly, but I think he's missed the mark with his his argument against breaking up the U.S. too-big-to-fail financial oligarchy.
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 sums it has spent lobbying against financial reform. more »
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