Category Archives: Financial Reform

Restoring Economic Facts

Galleon Group LLC co-founder Raj Rajaratnam is guilty on all counts: Although Rajaratnam never testified at his trial, the jurors heard his voice on dozens of tapes, and they did not paint a flattering portrait. The tapes proved that the … Continue reading

Posted in Financial Derivatives, Financial Reform, financial regulation | Leave a comment

Morning Awful: Foreclosure Fever

At HuffPo, Shahien Nasiripour reports that active duty military members have been victims of illegal foreclosure: The GAO report, which focused on problems in the mortgage industry and the lack of federal oversight, is the first official study to feature … Continue reading

Posted in Financial Reform, financial regulation, Morning Awful | 2 Comments

The Culture Of Criminal Capital

Much to everyone’s surprise, HuffPo’s Shahien Nasiripour reports, the Financial Crisis Commission has ended its work by referring Wall Street malfeasance to prosecutors: Richard Bowen, former chief underwriter for Citigroup’s consumer-lending unit, testified that, in the middle of 2006, he … Continue reading

Posted in financial crisis, Financial Reform, financial regulation | 1 Comment

Fed: End Foreclosure Abuse

Put it in the just-like-Bush file: WASHINGTON — The Federal Reserve has reversed its opposition to new rules reining in foreclosure abuses, and will support stronger regulations on the nation’s largest banks, according to a source familiar with the matter. … Continue reading

Posted in Financial Reform, financial regulation | Leave a comment

Morning Awful: No Bailout For Democracy

From WaPo: Companies that received federal bailout money, including some that still owe money to the government, are giving to political candidates with vigor. Among companies with PACs, the 23 that received $1 billion or more in federal money through … Continue reading

Posted in Financial Reform, Morning Awful | Tagged , , , , , | 1 Comment

Where Bloggers Go Wrong, I Think

David Axelrod has been floating the idea that banks just need a little more time, is all, after banks spent the last 27 months avoiding responsibility for mortgage fraud, therefore a national foreclosure moratorium is not needed. See how that … Continue reading

Posted in financial crisis, financial meltdown, Financial Reform, firebaggers | Tagged | Leave a comment

Foreclosure Fever

The president used his “pocket veto” last Friday to strike down an ugly bill that would have let banks foreclose on homes with out-of-state notaries. This was the banks’ way of trying to deal with all the bad paperwork from … Continue reading

Posted in financial crisis, Financial Derivatives, financial meltdown, Financial Reform, financial regulation | Tagged , | 1 Comment

Media Drops Finance Reform Bombshell

The president managed to get a consumer reform bill out of Congress, and the details look good. As HuffPo tells it: The era of the $35 cup of coffee has come to an end, for most. Whhhhhaaaaah? I thought the … Continue reading

Posted in 11-Dimensional Chess, Financial Reform | Tagged , , , , , , , , | 1 Comment

Unions Pay $10 Million For Volcker Rule

Wednesday morning, the White House staff was admonishing unions for spending $10 million in a primary challenge that came within four points of unseating Arkansas’ Blanche Lincoln.  By this morning they were walking it back. Why? Because meanwhile, Lincoln’s primary … Continue reading

Posted in 11-Dimensional Chess, Financial Reform, Sen. Blanche Lincoln (D-AR) | Leave a comment

Brownback Mountain

The Senate voted yesterday to stop incentivizing mortgage fraud. Mortgage brokers and loan officers will no longer earn more for sticking a higher interest rate in the fine print, and they have to prove you can repay the loan. They … Continue reading

Posted in Financial Reform, financial regulation, mortgage crisis, Sam Brownback, veterans issues | Leave a comment

The Fannie Mae, Freddie Mac Firebreak

Can we just review one important fact about these two institutions before we have a Senate debate on them? They were both privatized in 1968 — a fact central to the story of the meltdown: In the schizoid reality of … Continue reading

Posted in financial crisis, Financial Derivatives, financial meltdown, Financial Reform, financial regulation | Leave a comment