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

Audit The Fed!

Despite all of the attention heaped on the Treasury Department and the Troubled Asset Relief Program, the Federal Reserve served as the chief bank bailout engine in the U.S. economy […]
Zach Carter

Stand Up To Wall Street Today

Today is the big day: thousands of people will march on Wall Street this afternoon to protest big bank abuses. After watching Wall Street stack the economic deck against, well, […]
Zach Carter

Republicans Filibuster Our Financial Future

Last night, Senate Republicans proved beyond any doubt that when it comes to the economy, they stand with Wall Street and against everybody else. Joined by lone Democrat Sen. Ben […]
Zach Carter

Larry Summers Is Lying About Big Banks

Last week, Larry Summers, the top economic adviser to President Barack Obama, gave a startlingly dishonest interview with PBS Newshour’s Jeffrey Brown. When asked directly why the White House was […]
Zach Carter

Phony Bipartisanship Won’t Fix Wall Street

I generally find Andy Kroll to be both a rigorous and persuasive journalist. He knows what he’s talking about on Wall Street reform, and he routinely pens informative yet approachable […]
Zach Carter

Wall Street Showdown: Take Action!

The next few weeks will be crucial for the effort to rein in the Wall Street casino and hold the bailout barons accountable. Here’s a list of major Wall Street […]
Zach Carter

Is Big Oil Standing Down On The Climate Bill?

While playing hardball seems to be working to maximize the chances for decent Wall Street reform, the finesse game appears to be working in the climate debate. On the heels […]
Bill Scher

Democrats Show Some Backbone on Wall Street Reform

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 […]
Zach Carter

WaMu: Rampant Fraud and Financial Collapse

There are two types of financial outrages: acts that are outrageously illegal, and acts that are, outrageously, legal. Yesterday’s Senate hearing on the rise and fall of Washington Mutual was […]
Zach Carter

Liveblogging the Washington Mutual hearing

4:25 Levin is ripping Killinger on option-ARM delinquencies. WaMu performed a study concluding that option-ARMs were about to default like crazy, and right after that study, WaMu started pushing option-ARM […]
Zach Carter

Labor Exec Shows How To Demolish Banking Industry Facade

The banking lobby, as corporate lobbies are wont to do, can build a wonderful Potemkin village of consumer delights, where a defanged government beholden to business interests smiles as unfettered […]
Isaiah J. Poole

Wall Street Rules: The Bernanke Reappointment

The reappointment of Ben Bernanke as Chairman of the Federal Reserve — cleverly timed to defuse the news of burgeoning federal deficits — was preordained. The “markets” demanded it, and […]
Robert Borosage
1 7 8 9