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The Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protection is holding a hearing today to examine policy ideas to reduce the threat to the country from the gigantic too-big-to-fail... Read More
One of the financial industry's favorite ways to weaken or kill financial reform is trying to impose an onerous cost benefit test on every rule.  They scored a major victory in July 2011 when the Federal Appeals... Read More
It's always amazing how the 99% of banks put up with the 1% of biggest banks, their oligopoly, their subsidies, and their favored treatment.  It's clear and visible everywhere and it directly hurts the other 99... Read More
60 Minutes had another blockbuster story about law breaking on Wall Street, this time focusing on the collapse of Lehman Brothers.  Unsurprisingly, the story also reports on no one prosecuting the Wall Streeters for... Read More
No rational person could deny that our campaign finance system is a disgrace and an ongoing stain on democracy.  Stories about buying and selling access to politicians from local state representatives to the White House... Read More
As detailed yesterday here and here, the SEC/CFTC passed a rule that caved to the industry on several critical provisions.  The New York Times had an article that spelled out those provisions, the ramifications of them... Read More
The SEC and CFTC adopted a final rule today that is a sellout to industry.  That's right:  it's a sellout to the very industry that - caused the financial collapse just a few years ago; - almost caused a... Read More
Almost everyone knows that the biggest banks want to kill financial reform, but the banks don't come right out and say that because people are still upset with Wall Street for ripping them off and creating the worst... Read More
This 2011 study dismantles the myth that bank equity is expensive and entails significant social costs. The study contends that the arguments bank executives have put forward... Read More
  Finally, five years after the financial crash and more than 3 years since the financial reform law was passed, on December 10, five financial regulators voted to approve the Volcker Rule to ban the high risk... Read More
The financial industry constantly complains about the cost of complying with the new financial reform rules.  But, if you think the cost of such rules is expensive, then you'll really hate the cost of the next... Read More
Goldman's most recent ex-employee is definitely famous at the moment, although he is trending to the infamous and almost certainly to the forgotten.  The pressure to denigrate and dispatch is overwhelming by those... Read More
The predictable attacks from the predictable places have already begun to rain down on the Goldman executive who resigned today via a NYT's Op Ed.  But everyone should take his views very, very seriously for all the... Read More
An executive at Goldman Sachs for 12 years announced his resignation today in a New York Times' Op Ed, saying it was due to a "toxic and destructive" culture that is built around greed and ripping clients off... Read More
FT is reporting that "US Bank Dividends Set to Double.'  That's because the Fed is supposed to release the results of the latest stress tests this week.  This most telling line in the story is "no... Read More
An editorial in today's New York Times perfectly captures what is really going on with a package of bills moving quickly through Congress with bipartisan support: "House Republicans, Senate Democrats and President... Read More
Former Citigroup Chairman John Reed explain to Bill Moyers how the lifting of Glass-Steagall led to creation of the creation of the megabank and sowed the seeds for the 2008 financial crisis. Reed eloquently... Read More
The Economist recently reviewed the economic data for the advanced economies and found that the financial crisis has resulted in a lost decade of wealth, growth, income, etc. It's a must read.  The conclusion is... Read More
The financial industry and its allies claim that regulators can't pass any rules that cost them too much money to implement.  Of course, their definition of "too much money" is very, very small.  That... Read More
The financial industry constantly complains about the cost of complying with the new financial reform rules.  But, if you think the cost of such rules is expensive, then you'll really hate the cost of the next... Read More

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