Bailed-Out Banks Finance Predatory Payday Lenders

American taxpayers bailed out the big banks. Now many of those banks are returning the favor by extending credit to payday lenders who sucker consumers into a spiraling debt trap. […]
Mary Bottari

Welcome Home Tire Jobs

Today the US Trade Representative (USTR) Ron Kirk filed two complaints with the World Trade Organization (WTO). The first alleges that China is keeping American credit and debit card companies […]

China’s Currency Manipulation Flipping Off America

China is disrespecting America. The Asian giant is an international trade outlaw, and U.S. manufacturers and workers are its crime victims. China illegally subsidizes its export industries and unlawfully manipulates […]
Leo Gerard

Is Elizabeth Warrens New Job a Blessing or a Curse

Reports are conflicting, details are uncertain, the White House isn’t talking on-the-record, and after a confusing evening, it’s still unclear exactly what is going on with Elizabeth Warren’s next job. […]
Zach Carter

Is Obama Selling Out Elizabeth Warren

ABC News is reporting that President Barack Obama will appoint Elizabeth Warren to a “special advisory” position to set up the Consumer Financial Protection Bureau. We don’t know the details, […]
Zach Carter

Boehner and McConnell Flunk Math

The Republican leaders in both houses of Congress are getting clearer what their alternative economic strategy is: Giant tax cuts for multimillionaires minus slashed public services for the middle-class minus […]
Bill Scher

Basel III Is Still Bonkers

It’s been two days, and the new Basel III bank regulations are still lousy. Martin Wolf slams the international banking accord here and Yves Smith agrees here, although Felix Salmon […]
Zach Carter

Appeasing China on Currency Will Doom Our Economy

Congress may be poised to pass legislation to penalize China unless its government plays by agreed-upon rules of international trade and stops manipulating its exchange rate. This currency manipulation, which […]

China Currency Battle Heating Up

Since China joined the World Trade Organization (WTO) our country’s balance of trade has gotten worse and worse and we have lost jobs and jobs (and money and money). Between […]

SS On The Table But BS Not

The President has a commission looking at ways to reduce the budget deficits which were caused by tax cuts for the rich and military spending increases. Social Security – which […]

Fairy-Tale Social Security Policy

Lots of kids believe in Santa Claus. This is because people repeat the fable to kids over and over, telling them that Santa Claus will deliver presents to them if […]

Chris Dodd is Embarassing Himself

Sen. Chris Dodd, D-Conn., is grasping at straws to block Elizabeth Warren’s nomination as head of the Consumer Financial Protection Bureau. He’s making a fool of himself, and hurting his […]
Zach Carter

Whats the Hold-up on Elizabeth Warren

Nobody seriously disputes whether Elizabeth Warren is the best-qualified candidate to head the Consumer Financial Protection Bureau. Everybody recognizes the bipartisan political appeal that Warren has with voters, and Democratic […]
Zach Carter

Job One For Congress Respond To The Jobs Emergency

The House of Representatives, which returns from its summer recess today, and the Senate, which returned Monday, really only has one legislative priority it should be focused on before members […]
Isaiah J. Poole

New Bank Regulations Would Bless Lehmans Risk-Taking

International bank regulators have finally agreed to a new set of rules to rein in financial excess, and the reviews thus far are cautiously positive. But the new capital requirements […]
Zach Carter

Handcuffs For Wall Street Not Happy-Talk

The Washington Post has published a very silly op-ed by Chrystia Freeland accusing President Barack Obama of unfairly “demonizing” Wall Street. Freeland wants to see Obama tone down his rhetoric […]
Zach Carter

Declare a Jobs Emergency on September 15

Sometimes job cuts have a way of sneaking up on you — a few teachers here, a police officer there and another fire department that is not open when you […]
Mary Bottari

Lets Help Rush Limbaugh Pack His Bags

Did you hear the big news? Yesterday on his show, Rush Limbaugh vowed that he would leave the country if health care reform passes! LIMBAUGH: I’ll just tell you this, […]
Brian Dockstader

Way Past Time For Symbolism On Climate Crisis

The White House has agreed to meet with 350.org climate activist Bill McKibben about his quest to get the White House to bring back the solar panels that President Jimmy […]
Bill Scher

Deficit Death Panel

I know the conservatives want to cut “entitlements” but literally killing off old people seems extreme even for them. But they seem to think that the elderly are being profligate […]

Citibank Will Anyone Hold Rubin And Prince Accountable

Former Citibank Chairman Robert Rubin knew about mounting subprime mortgage losses at his company, but still allowed executives to mislead to Citibank’s shareholders about those losses, according to the SEC. […]
Zach Carter

The Chamber of Commerce Without Shame or Sense

The Chamber of Commerce is rolling out its “jobs and economy” political initiative today. As Politico reports, the blitz is “designed to drive voters toward ‘5 Questions to Ask Your […]
Robert Borosage

Liveblogging the Wachovia and Lehman Brothers Hearing

3:45 Clearly the best FCIC hearing to date. Tough questions all around. Everybody comes out of it looking bad, bankers and regulators alike, as they should. *********************** 3:30 This hearing […]
Zach Carter

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

The Obama Speech in Cleveland

President Obama traveled to Cleveland to deliver an address on the economy designed to highlight the “differences in governing philosophy” between his view and that of the Republican opposition. (A […]
Robert Borosage
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