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

A New Yardstick for Greed in the Suites?

The lackluster financial reform bill now nearing a floor vote in the U.S. Senate includes a surprising provision that could help reframe and revitalize the struggle against outrageously excessive CEO […]

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

Bank Profits Soar

President Obama got it exactly right when he said that we couldn’t go back to an economy in which the banks captured 40% of corporate profits. We needed an economy […]
Robert Borosage

Trump: Tax China, Create Jobs in America

      Donald Trump knows a few things about making money. The first step: You need a job. But a job is something more than 17 million of America’s […]
Tula Connell

Governor McDonnell’s “Do-Overs”

We entered a truly surreal political realm during the presidential election, when it fell to Peggy Noonan to serve as a voice of reason among conservatives. That job has since […]
Terrance Heath

Tax Tricks

How many ways can people be tricked about taxes? Here are a few tricks I have come across. * The rich already pay most of the taxes. You hear variations […]

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

Was Bernie Madoff the Exception Or the Rule?

Were the big banks all knowingly running Ponzi schemes? That’s the question that arises from the stunning hearings held this week by the Senate Permanent Committee on Investigations, chaired by […]
Robert Borosage

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

Trade Deficit Grows

Where I previously wrote that some things were getting worse more slowly, the trade deficit is just getting worse again. The US Trade Deficit Widened in February ‎by 7.4 percent […]

Hu Knew

Hu knew. Chinese president Hu Jintao knew that upon coming to Washington for Obama’s nuclear security summit he would have to have a serious chat about currency with President Obama […]
Steven Capozzola

Tax Audits: IRS Gives Big Corporations a Pass

Big corporations still get away with it. A stunning new analysis by the Transactional Records Access Clearinghouse (TRAC) at Syracuse University shows how the IRS targets smaller corporations, while larger […]

Heritage Foundation and the “Luck” of the Irish

You wouldn’t know it from the Heritage Foundation’s 2010 Index of Economic Freedom, but the economic "luck of the Irish" ran out in 2008. Not only did the "Celtic Tiger" […]
Terrance Heath

URGENT: Stop CNN From Airing Deficit Propaganda

This weekend, CNN is giving four hours of free airtime to the leading propagandist fanning the flames of deficit hysteria, Pete Peterson, along with his lackeys.  Bloggers and online activists […]
Roger Hickey

Liveblogging the Fannie Mae Hearing

2:00 FCIC Commissioners today have been much more aggressive than they’ve been in any hearing thus far. Watching Bill Thomas go after Fannie Mae exec Robert Levin on lobbying was […]
Zach Carter

Why Is It So Hard To Hold Wall Street Accountable?

The Financial Crisis Inquiry Commission hearings continue to be a broad, boring failure, peppered with a few moments of significant insight. Throughout most of yesterday’s hearing featuring the nation’s top […]
Zach Carter

U.S. Trade deficits with China since 2001

In 2005, China incrementally budged its currency after heavy pressure from the U.S. The move was expected to “trim the trade gap” between the two countries. Unfortunately, that didn’t happen, […]
Steven Capozzola

Break up the Big Banks

Naked Capitalism posts a great blog from George Washington of the Washington Blog arraying the authorities who have now come out for breaking up the big banks. Everyone from small […]
Robert Borosage

Finally! The SEC Charges a Big Bank With Fraud

Finally! Nearly two years after one of the worst financial crashes in history—and nearly three years after the crisis broke out—the SEC has charged a major bank with accounting fraud. […]
Zach Carter
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