Progressives have every right to harbor a seething contempt toward the Wall Street wing of the Democratic Party. Democrats controlled both houses of Congress in the last two years of George W. Bush’s presidency as Wall Street blew itself up and Congress passed the massive taxpayer bailout of the Wall Street mega banks. (Democrats held […]
A Decade After the Financial Meltdown, the SEC Still Hasn’t Passed Executive Compensation Rules…
Almost everyone got on board the reform train after the 2008 financial crisis. However, big business, and in particular the biggest banks, slammed the brakes on reforms that threatened to separate senior executives from their money that critics said incentivized excessive risk taking before the crisis. Almost all of the mandatory provisions of the law […]
Nomi Prins on the Banks That Run the World (Audio and Transcript)…
In this week’s episode of “Scheer Intelligence,” host and Truthdig Editor in Chief Robert Scheer talks with Nomi Prins about her latest and, in Scheer’s words, “most ambitious” book, “Collusion: How Central Bankers Rigged the World.” The two discuss the 2008 financial crisis and the disconnect between governments and the governed, as well as Prins’ […]
Wall Street Admits Curing Diseases Is Bad for Business…
Goldman Sachs has outdone itself this time. That’s saying a lot for an investment firm that both helped cause and then exploited a global economic meltdown, increasing its own wealth and power while helping to boot millions of Americans out of their homes. But now Goldman Sachs is openly saying in financial reports that curing […]
Mega-Banks Blow 100% of Earnings on Share-Buybacks & Dividends, Crimp Lending, Constrain Economy…
When tighter regulations were imposed on the banks after the Financial Crisis, the largest among them, the very ones that threatened to bring down the financial system, began squealing. Those voices are now being heard by Congress, which is considering deregulating the banks again. In particular, they claim that current capital requirements force banks…
What’s Neoliberalism? And How It’s Killing You!…
Dore explains ‘Neoliberalism’ what the Democratic Party is really all about these days. He states Neoliberalism ‘include[s] extensive economic liberalization policies such as privatization, fiscal austerity, deregulation, free trade, and reductions in government spending in order to increase the role of the private sector in the economy and society’…
U.S. Quietly Drops Bombshell: Wall Street Banks Have $2 Trillion European Exposure
According to a report quietly released by the U.S. Treasury’s Office of Financial Research less than two weeks before Christmas, another financial implosion on Wall Street can’t be ruled out…
Here’s Why Russia Wasn’t Behind WikiLeaks Emails Leak…
If Russia had really wanted to interfere in the U.S. elections and tilt the playing field against Clinton, who was promising an Obama third term and with Obama traveling around the country campaigning for her, it would have scooped up all of the emails from 2008 in which Citigroup executive, Michael Froman…
If Elizabeth Warren Wants to Probe Worker Abuse on Wall Street, Start With the Unprecedented Rash of Deaths and Suicides…
If Senators Warren, Sanders, Merkley and Brown genuinely want to change their party’s jaded image as Wall Street Democrats, they will use this timely opportunity to demand that the OCC turn over its records on the profits flowing to Wall Street from these untimely deaths of young people…
Fed Monetary Policy Is Being Held Hostage by Wall Street Banks…
American banking has now evolved from too-big-to-fail to too-big-to-prosecute to too-big-and-dangerous-to-return-to-normal-monetary-policy…
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