After watching "The Big Short" and talking to viewers, it’s hard to argue against Democratic presidential candidate Bernie Sanders’ demands to increase taxes on the billionaires and break up the banks.
"Under my administration, Wall Street CEOs will no longer receive a get-out-of jail free card," Sanders says just blocks from Wall Street. "Big banks will not be too big to fail. Big bankers will not be too big to jail."
Martin Shkreli, the former hedge-fund manager turned pharmaceutical CEO who was arrested last week, has been described as a sociopath. In reality, he’s a brasher version of what others in finance and corporate suites do all the time.
With a Republican Congress, every budget battle is about ratcheting down the things our government does to make our lives better. This year was no exception. But We the People got some things out of the bargaining.
In the last Democratic debate, Hillary Clinton accused Bernie Sanders of impugning her integrity by raising her support from Wall Street bankers. But it isn't Bernie who is doing the impugning, it's her Wall Street donors themselves.
What does a banking law passed 75 years ago and repealed 16 years ago have to do with the 21st century economy? As it turns out, a lot – and thus it became a major issue in Saturday's Democratic presidential debate.
As long as the big corporations, Wall Street banks, their top executives and wealthy shareholders have the political power to do so, they’ll keep redistributing much of the nation’s income upward to themselves.
We have millions of "unbanked" Americans. The U.S. Postal Service needs to expand its services. Postal banking is an idea whose time has come, and Bernie Sanders is highlighting his support.
Which Democratic candidate will take on the banks? They all have proposals that increase regulation and likely break up the biggest banks. But will their administrations enforce those as well as existing regulations if elected?
The driving motivation of a bill with the innocuous title of the ""Financial Product Safety Commission Act" is not "financial product safety," but the crippling of the Consumer Financial Protection Bureau.
Several groups are sounding the alarm about new nominees to the U.S. Postal Service Board of Governors. One is a notorious privatizer, another a payday lender lobbyist.
This week's statement that the Justice Department will seek prosecutions of individual bankers engaged in fraud promises to reverse its greatest strategic failure against elite white-collar crime.
Paying to get good behavior would reward bad behavior, completely absolving CEOs and wealthy shareholders of their guilt in creating today’s gross inequality.
Former right-wing senator Phil Gram seems to have developed a new empathy for people who are demonized. He turned up on Capitol Hill recently, wailing that overpaid corporate chieftains are actually — get this — victims of public bigotry.
"Symphony" is a chat system that claims it would would prevent government spying for Wall Street. This is why it's important to ask exactly what that means.
America’s parasitical oligarchs are masters of public relations. One of their favorite tactics is to masquerade as defenders of the common folk while neatly arranging things behind the scenes so that they can continue to plunder unimpeded.
Because Congress won’t let Puerto Rico declare bankruptcy, the island’s creditors need to come to terms with the futility of austerity and accept that their money is not coming back.
Hillary Clinton has opened a "conversation" about what she calls "quarterly capitalism," the perverse incentives that lead corporations to focus on the short-term over the long. Her reforms, however, don't match her rhetoric
While Republicans do everything they can to cripple regulators, the Consumer Financial Protection Bureau knows no restraints. As a result, it actually does its job.
The SEC’s pay-ratio disclosure rules have been held up by commissioners who believe CEO pay has nothing to do with the financial crisis. This could not be farther from the truth.
The say-on-pay provision in the Dodd-Frank financial reform bill is not having the impact its advocates had hoped for. Five years later, executive pay packages are the highest they have ever been.
Dodd-Frank was an attempt to make sure executives could not profit from cooking the books, but unless the SEC cracks down on accounting fraud, executives still have every incentive to fire up their burners.
Today is the fifth anniversary of the passage of Dodd-Frank, the complicated legislation designed to reform Wall Street after it blew up the economy. With finance still bloated, much more needs to be done.
The Greek debt crisis offers another illustration of Wall Street’s powers of persuasion and predation, although the Street is missing from most accounts. The crisis was exacerbated years ago by a deal with Goldman Sachs.
The story of one borrower from a payday lender shows why it's important, at least as a first step, for the Consumer Financial Protection Bureau to implement tougher regulations to protect consumers.
A House hearing reveals that Republican lawmakers still can’t seem to grasp what exactly caused the last financial crisis and are mistaken about the threats facing the U.S. economy today.
Loan sharks, in the form of payday lenders, claim more victims each minute than aquatic sharks do in a year. But unlike the shark attacks you see on Discovery Channel, there are surefire ways to prevent getting bitten.
A petition launched today calls on President Obama and Congress to urge the European Central Bank to support the Greek banking system while negotiations continue toward "a fair agreement" for the Greek people.
The lender is supposed to evaluate risk and say no if the borrower is irresponsible, not complain later about the borrower being irresponsible. Are Greece's lenders bad at their job?
The Project on Government Oversight has called on Securities and Exchange Commission chair Mary Jo White to step down, in the wake of a scathing critique from Sen. Elizabeth Warren.
Despite the fact that 760 banks were important enough to be bailed out by taxpayers in 2008, the Senate Banking Committee approved legislation that would remove the "too big to fail" designation from all but six.
Sen. Elizabeth Warren has issued a stinging 13-page indictment of the leadership of SEC Chair Mary Jo White. The financial lobby howled its outrage, which should tell the rest of us that Warren got it right.
The truth is that payday lenders trap their customers in a vicious cycle of debt. The Consumer Financial Protection Bureauhas begun writing a series of new rules to prevent the worst abuses of the industry.
The repercussions of the latest Justice Department deal with felonious big banks were limited to a few headlines and some scattered protestations. That’s not enough. Our financial system is corrupt by design.
An Inspector General's report outlines how post officies could provide essential services to some 68 million Americans who don't have a bank account or depend on check-cashing and payday lending outfits.
The congressional Middle Class Prosperity Project went to Baltimore this week to examine the impact financial deregulation had on Baltimore's low-income neighborhoods.
This week marks the fifth anniversary of the Flash Crash; when the stock market lost almost 9 percent of its value from its opening level, within 5 minutes. The market quick recovered, but the crash revealed its extraordinary instability.
We know what changes we need to make financial markets work better. The key steps aren’t hard. It just takes political courage and a strong demand from the public to complete the unfinished business of financial reform.
This tax season, America’s billionaires are toasting you, the ordinary taxpayer. That’s because you’re the one picking up the tab for our nation’s ailing infrastructure of roads, bridges, and rail transport, among other things.
Why does the SEC continue to refuse to require corporations to disclose to shareholders how much of their money they are throwing into elections?
Democracy and Rights
The effort to return government power to the people and safeguard the rights of all citizens