Not Even Wall Street Wants Larry Summers at the Fed

By: Monday July 29, 2013 7:59 am

One of the few potential justifications for President Obama picking Larry Summers to head the Federal Reserve, despite the strong opposition to him from many liberals, was that Wall Street preferred him. According to a CNBC poll, though, this is not the case. Summers is even less popular with Wall Street than he is with [...]

Justice Department Must Do More for Victims of the Financial Crisis Than Just Sue Standard & Poors

By: Monday February 25, 2013 12:02 pm

We’re happy to see the Department of Justice take Standard & Poor’s to court — but this civil suit represents just a small first step in holding Wall Street accountable for the 2008 financial crisis. Many people are still unsatisfied about the lack of prosecutions against Wall Street fraudsters. We need to make sure the [...]

Mayor Bloomberg Proudly Stands With Goldman Sachs

By: Friday March 16, 2012 9:48 am

Apparently Mayor Michael Bloomberg thinks one of the world’s most powerful corporations needs to be protected from a single former mid-level employee saying mean things about it. From Bloomberg Businessweek: New York City Mayor Michael Bloomberg visited Goldman Sachs Group Inc. (GS)’s headquarters in Manhattan in a show of support after a departing employee publicly [...]

This Is Your Defense of Goldman Sachs and Wall Street?

By: Thursday March 15, 2012 10:38 am

I found the Bloomberg editorial response to Greg Smith’s resignation letter from Goldman Sachs to be so terrible that ironically I think it is a more damning criticism of the current destructive culture on Wall Street than Smith’s original piece. The editors at Bloomberg basically try to paint Smith as naive and stupid, then conclude [...]

Obama: Middle Class Should Pay Some of the Costs to Fix Mess They Didn’t Cause

By: Friday July 22, 2011 5:19 pm

I’m reading President Obama op-ed in USA Today about the deficit. If I’m not mistaken, it contains the strange message that he wants the middle class to pay a significant portion of the cleanup costs for a mess they didn’t create. That’s why people in both parties have suggested that the best way to take [...]

Would Obama Violate Constitution and Actively Damage Wall Street?

By: Wednesday July 6, 2011 12:36 pm

Perhaps the best way to look at the possibility of President Obama using the 14th amendment to declare the debt ceiling unconstitutional, is not to wonder if Obama has the will to use it, but question whether he has the resolve it would take not use it.

Largest Mortgage Firms Profit from Crime, Kill Moral Hazard for All of Wall Street

By: Tuesday March 29, 2011 9:14 am

I truly fear the next financial collapse, which indeed will happen, because over the past three years, both Republican and Democratic administrations haven’t just killed moral hazard for the larger financial sector, they have dragged its corpse down Wall Street in an elaborate funeral procession for all to see. The latest example of comes from [...]

Reasonable Peterson Reasonably Suggests Reasons to Balance Budget on Backs of Working Class While Preserving Reasonable Tax Breaks for Reasonably Affluent

By: Monday August 2, 2010 10:44 am

I notice that the Daily Beast decided to do a long PR ad for an interview with Peter Peterson, which tried to make clear just how reasonable the man is. Many of his cheerleaders quickly hailed it as persuasive proof. The problem is that on the issue of the deficit, Peterson is a self-serving hypocrite. [...]

Wall Street Buys Itself a Primary Challenger: Reshma Saujani

By: Thursday July 8, 2010 8:55 am

Apparently controlling the Federal Reserve, funding their bonuses with billions in taxpayer dollars and quite nearly bringing down the global economy with their degenerate gambling habits isn’t enough. Wall Street now wants to punish any Democrat who lifts a hand against them, and they’re willing to fund primary challenges to do it. Carolyn Maloney worked [...]

Money for Nothing? Wall Street Punishes Dems for Appearing to Tackle Financial Regulation

By: Tuesday July 6, 2010 1:59 pm

If you are upset that the new financial reform bill is too weak, does not fundamentally change a broken system and will not prevent another meltdown, perhaps you should take a look at this: Wall Street is unhappy that Democrats have been slightly mean to them, so it has closed its huge campaign-donation spigot. From [...]

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