On February 2, Sen. Bernie Sanders spoke at the 2017 Sister Giant Conference in Washington D.C. In his speech, he voiced his harshest criticism of the Democratic establishment since his presidential campaign. “Let me suggest to you, and some will disagree with me and that’s okay, too. But let me suggest to you that what […]
Trump Signs Executive Order Scaling Back Dodd-Frank, Fiduciary Rule…
President Donald Trump signed an executive order Friday scaling back the sweeping 2010 Dodd-Frank financial regulatory framework enacted under Obama…
Orders Makes Wall Street More Dangerous…
The Reason the Fed is Raising Rates, and Why It Won’t Work by Mike Whitney…
Why is the Fed creating incentives for US corporations to destroy themselves? Why is the Fed pushing insurance companies and retirement funds into bankruptcy? Why is the Fed raising interest rates when inflation is still well below its 2 percent target? Things are not always what they seem. In theory…
Eight Years After an Epic Banking Crash, America’s Biggest Threat Is Still Its Banks…
In 1934 the U.S. had 14,146 commercial banks holding insured deposits. By 1985, that number had barely budged, standing at 14,417. Then came the Bill Clinton administration in the 1990s and its reckless and unprecedented banking deregulation which allowed the giant Wall Street banks to swallow up, or drive out of business, thousands of banks […]
Whistleblower Vindicated: Massive Trading Firm Knight Capital Charged With Abusing “Naked Shorts”…
Back in September, I wrote a seven-part series at The Intercept chronicling how former Wall Street trader Chris DiIorio, determined to figure out how he lost a small fortune on a penny stock, came to the conclusion that gigantic market-making firm Knight Capital, now known as KCG, repeatedly violated federal regulations meant to…
Why the Massive Expansion of “Money” Hasn’t Trickled Down to “The Rest of Us”…
If anyone wonders why this monumental expansion of “money” hasn’t sparked generalized wage inflation maybe one factor is that very little of this new money has trickled down to the bottom 95%. This is why I contend that If We Don’t Change the Way Money Is Created and Distributed, We Change Nothing (December 24, 2015)…
How Did a Nation Crippled by Wall Street Billionaires End Up With Them Running the Country?…
Donald Trump is increasingly looking like Wall Street’s back up plan in the event that the Wall Street Democrats didn’t triumph in the 2016 election. Trump has appointed two Goldman Sachs alumni and the current President of Goldman Sachs to top posts in his administration. On Monday, Trump announced…
Is Wall Street Trying to Rig Trump’s Business Advisory Panel?…
President-elect Trump’s ‘Business Advisory Panel’ is ‘a disparate cacophony of voices from wildly different businesses ranging from Boeing, a commercial jet manufacturer, to the Cleveland Clinic with no representation at all from labor or consumers, the panel has an outsized representation from the financial sector with one particularly curious member…
Why We Need a New Democratic Party by Robert Reich…
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