Liveblogging Bernanke & Bair

1:20 All done. Lesson: Break Up The Banks. ****************** 1:00 Most of the discussion surrounding too-big-to-fail at this hearing has dealt with a relatively short period in time: the decision […]
Zach Carter

Bernanke Admits It Too-Big-To-Fail Lives On

Last week, Federal Chairman Ben Bernanke finally acknowledged that his preferred “solution” for ending Too-Big-To-Fail is likely unworkable. When the financial crisis exploded in 2008, top Fed and Treasury officials […]
Zach Carter

CNBC Does Not Understand How Regulation Works

A lot of CNBC anchors do not seem to understand how regulation works. In fact, it seems like the network’s anchors don’t really get how competition works. If you’ve tuned […]
Zach Carter

There Are Zero Good Reasons To Block Elizabeth Warren

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 […]
Zach Carter

Wall Street Reform Clears Final Filibuster

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. The legislation garnered the votes […]
Zach Carter

Will The Tea Party Movement Die Out?

The following was my contribution to The Hill’s weekly “blogger face-off,” as the conservative Ace of Spades and myself answered the question “Like Sen. Graham said, will the Tea Party […]
Bill Scher

Don’t Let Goldman Sachs Off The Hook

When the nation’s most prestigious investment banks found themselves on the verge of total annihilation in the fall of 2008, the most radical and effective government response was not the […]
Zach Carter

Do Democrats Want Toxic Campaign Cash From Goldman Sachs?

Heavy-hitting Wall Street political donors are withholding their money from the Democratic Party’s campaign coffers, according to a Washington Post report making the rounds on Capitol Hill today. In a […]
Zach Carter

Feingold v. Fernholz: Vote For Wall Street Reform

Sen. Russ Feingold, D-Wis., is defending his decision to vote against the Wall Street reform bill on the grounds that it is simply too weak to prevent future crises, and […]
Zach Carter

Wall Street Reform: A Good First Step

Members of Congress finished ironing out their differences on Wall Street reform last night, and the resulting bill deserves unequivocal support from progressives and conservatives alike. But while the final […]
Zach Carter

The Bank Lobby Gets Desperate on Derivatives

Astonishingly, as Wall Street reform enters its final hours a tired, generic corporate refrain against regulation is gaining traction. As bigwig bankers and their lobbyist brethren fight to defeat tough […]
Zach Carter

A Last-Minute Wall Street Sell-Out By New Dems?

A coalition of conservative New Democrats, whose leader is being investigated by a Congressional ethics committee over Wall Street fundraising, has officially come out in favor of gutting financial reform. […]
Zach Carter

Will Wall Street Reform Be Gutted By A Technicality?

The tough derivatives overhaul proposed by Sen. Blanche Lincoln, D-Ark., has emerged as the key fight in Wall Street reform. That status is well-deserved. Despite Lincoln’s record as a stooge […]
Zach Carter

We Won’t Be Sister Souljah’d, Lanny Davis

Corporate lobbyist Lanny Davis, former legal counsel for President Clinton, is launching his own firm next week, and he is previewing his tactics with a slimy and erroneous diatribe against […]
Isaiah J. Poole

The Conference Committee Must Strengthen Wall Street Reforms

Conference Committee negotiations on Wall Street reform begin today, with several key battles still unresolved. Thanks to intense progressive pressure, those negotiations are going to be televised live. You can […]
Zach Carter

Liveblogging in AFN: Financial Reform Panel Discussion

We’re here at AFN – the America’s Future Now conference – liveblogging a session called “Curbing Wall Street: Strategies Going Forward.” It’s a subject close to our heart. The panelists […]
Richard Eskow

Warren Buffett, Rating Agencies and Corruption

Today’s Financial Crisis Inquiry Commission hearing on credit rating agencies promises to shed quite a bit of light on one of the most profitable and corrupt businesses in Corporate America. […]
Zach Carter

Scaling Back Our Bloated Financial Sector

It’s been apparent for several weeks that the largest U.S. banking behemoths will remain as big and dangerous as they are today once President Barack Obama signs off on the […]
Zach Carter

Sen. Cantwell’s Courageous Vote

The most courageous vote yesterday in the Senate was cast by Sen. Maria Cantwell, D-Wash., who refused to let the Senate sign-off on an unnecessarily weak Wall Street reform bill. […]
Zach Carter

Liveblogging The War On Wall Street Reform

UPDATE 1:00 P.M Dodd just tried to move on amendments by Sens. Snowe, R-Maine, Landrieau, D-La., Vitter, R-La., and Whitehouse, D-R.I., and then proceed to the cloture vote. Sen. Carl […]
Zach Carter

Chris Dodd, Phil Gramm, And The Legacy Of A Statesman

Few realized it at the time, but Senator Chris Dodd’s political career ended on June 12, 2008. That day, Portfolio magazine published its blistering expose on Countrywide Financial’s “Friends of […]
Zach Carter

In Defense Of The Volcker Rule

Some version of Wall Street reform is going to pass the Senate this week. The question now is how strong that reform will be. There are still three crucial battles […]
Zach Carter

The Big Bank Lobby: Too Big to Bare?

240 former legislators, bank committee staffers, and Treasury officials deployed to lobby. $600 million spent in lobbying, trade association activity and political contributions since March 2008. And that is just […]
Robert Borosage

Senate Approves Bernie Sanders’ Fed Audit

The Senate approved an amendment from Sen. Bernie Sanders, I-Vt., that would subject the Federal Reserve’s bailout operations to a one-time audit. The vote was 96 – 0 in favor […]
Zach Carter

JPMorgan Still Hates The Economy

J.P. Morgan Chase, America’s largest warehouse of arrogant financial elites, has issued yet another deceptive lobbyist smear in the guise of an “analyst report.” Yesterday, the megabank’s Chief Economist James […]
Zach Carter
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