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The Real Lehman Lesson: Break Up The Banks

Tuesday’s hearing on Lehman Brothers’ now infamous Repo 105 scam was only tangentially related to the megabank’s accounting deceptions and subsequent collapse. That story is simple: Lehman almost certainly committed fraud, regulators failed to stop...

Tough Times for the Tea Party?

We are a fickle people, ruled by a fickle media. It’s astonishing how much national opinion can change in just a week or two. And if you don’t believe me, just ask the Tea Party. They’ve had a rough couple of weeks. To summarize just some of the...

Liveblogging The Lehman Brothers Hearing

11:05 Rep. Anna Eshoo is laying out the case against Lehman. The company engineered a host of sham transactions to temporarily reduce the company’s massive leverage levels. Top-level management knew the transactions were totally meaningless, but engaged in them...

‘The Hill’ Goes to Bat for Payday Lenders

The Hill published a truly outrageous op-ed yesterday by a payday lending front group, and didn’t bother to tell their readers their publication was providing a platform for a predatory hatchet-woman. The post is here. It’s an open assault on the very idea...

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