Are We the People the boss of the corporations, or are the corporations the boss of We the People?
In a poll last year, nearly half of the senior bankers polled acknowledged a willingness to break the law to make money.
President Obama signed the Dodd-Frank financial reform law in July 2010, hailing it as an overhaul to prevent the kind of crisis that hit the world economy in 2008 and one of the signature achievements of his first term. Almost three years later, much of the big stuff the law calls for is on hold, under legal and legislative assault, or still working its way through the regulatory intestines.
Minds are changing on Too Big to Fail. A month ago, it was just something in the air. <strong>Now, it looks like we're headed for a real legislative confrontation.
There is a new report out this morning once again reminding us of the greatest disappointment progressives have in the Obama administration: the lack of toughness in regards to Wall Street. <a href="http://www.campaignforfairsettlement.org/obama_legacy_threatened" target="_hplink">The report</a>, issued by the Campaign for a Fair Settlement (full disclosure: this is a coalition I have helped in various ways since their founding), is probably the most harshly critical analysis yet by a coalition aligned with traditional progressive Democratic groups. The report opens with this damning list of hard to dispute facts, and then just goes on from there.
Progressive organizations based in DC have historically focused most of their attention and political muscle on fighting legislative fights, getting Congress and the President to get new legislation passed or stop legislation they don’t like from passing.
Matt Taibbi does it again, catching Wall Street undermining Dodd-Frank. Rolling Stone's Matt Taibbi, who has done more than just about anyone to keep Wall Street perfidy in the public spotlight, points out their latest successful effort to
Bill talks with financial expert Sheila Bair about the lawlessness of our banking system and the prognosis for meaningful reform. Bair was appointed in 2006 by President George W. Bush to chair the FDIC. During the 2008 meltdown, she
JPMorgan Chase CEO Jamie Dimon has been one of the most outspoken critics of the Volcker Rule, a section of the Dodd-Frank Act that aims to keep the banks in which you deposit your money from gambling it on their own sometimes-risky investments...
Former Execs: JPMorgan Chase Gambling Even More Heavily On High-Risk Derivatives ... At Jamie Dimon's Direction
What on earth could possibly go wrong with one of the world's largest banks betting heavily on high-risk derivatives? Originally, that was supposed to be banned under Dodd Frank with the Volcker Rule. But lobbyists made sure it was just a hollow
- 1 of 2