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Ben White, who writes Politico's Morning Money, reports on two stories this morning.  One is Blackstone co-founder Steve Schwarzman's 2011 paycheck of $213.5 million and the other is about bankers struggling to... Read More
The latest government settlement of foreclosure crimes"is an epic failure of law and a triumph for bank attorneys," according to Barry Ritholz in his Washington Post column today. I have been saying this for some... Read More
“You must understand, anyone who was worried [about risky trading and investments on Wall Street] was fired long ago and is not in this room,” confessed a bank manager privately in 2007 as the housing market... Read More
While it is often said that the US and the world is suffering from the worst recession since the Great Depression of the 1930s, too often it is said in passing, without detail and without dwelling.  After all, who wants... Read More
Anyone who cares about reporting excellence, the state of the world and being intelligently and comprehensively informed about that world has to be sad at the loss of New York Times' foreign correspondent Anthony Shadid... Read More
JP Morgan Chase CEO Jamie Dimon is constantly running around railing about financial reform generally and the Volcker Rule in particular, usually in such hyperbolic terms that it should self-discrediting.  One example... Read More
No one says it better or more cogently than Paul Krugman, as he does again today "Same Net, More People Falling": "James Kwak and Larry Mishel, in slightly different ways, make a point I was planning to... Read More
The banks are all whining about how complex and long the Volcker Rule is, but it's really pretty simple.  While you're welcome to read our entire comment letter, this short, straightforward introduction tells... Read More
Gotta love this.  The very same people who claim to be the smartest and most sophisticated financial geniuses in the world also claim that they can't tell the difference between prop trading and market making, i.e... Read More
The goal of financial reform is to protect taxpayers, our treasury and our economy from suffering a repeat of the 2008 collapse by making our financial system safer, sounder and more stable. The cornerstone of financial... Read More
First the banks committed massive fraud in originating and packaging mortgages, leaving the country littered with millions of little mortgage time bombs set to explode in the years after they lined their pockets and made... Read More
"Let me help a few victims I created by ripping them off and illegally throwing them out of their homes by false court filings that I swore were true."  That's what the so-called mortgage settlement talks... Read More
I can barely write this as tears for the poor picked-on Wall Street bankers fill my eyes as they are comforted by Obama's campaign manager, who reportedly met yesterday with his big donors on Wall Street. Until we fix... Read More
The documentary "Inside Job" crystallizes the systemic corruption throughout Wall Street that led to a near collapse of the U.S. economy in the fall of 2008. Director Charles... Read More
Zero Hedge, per usual, does a great job of showing where the money is really going:  
The "blog at Better Markets is a must-read for anyone who cares about financial regulatory reforms," according to a column in the New York Times today.  Read the full column here.  To understand why,... Read More
There are too many too-big-to-fail megabanks in this country that only exist because the government supports them with guarantees of unlimited taxpayer money.  They are the biggest Wall Street behemoths like Goldman, JP... Read More
The Brits have decided to impose a Draconian sanction on the former head of the Royal Bank of Scotland (RBS), the bankrupt bank that had to be nationalized.  It's beyond brutal in British terms:  they are... Read More
I can hear Jamie Dimon crying now, "When, when, when will the unjustified, Draconian punishment of noble bankers end?"  The former boss of the Royal Bank of Scotland, Fred Goodwin is the recipient of the... Read More
The UK, Canada, Japan and reportedly other countries are complaining about the Volcker Rule.  They are saying that it might -- MIGHT -- result in the trading in their sovereign debt being less liquid.  Tellingly,... Read More