Category Archives: financial regulation

A Thank You Note To Mitch McConnell

Senator, Thank you so much for achieving your 41-vote filibustering minority. You have reminded all of America which side you are on at the very instant the Obama administration has begun an offensive against Wall Street — starting with Goldman … Continue reading

Posted in Financial Derivatives, Financial Reform, financial crisis, financial regulation | 3 Comments

Shelby Is Chaff

My Senator (he says with a sigh) is planning to “run out the clock” on financial reform. The American Banking Association calls it good strategy: “And from the Republicans’ point of view, every week that passes is, say, Senator Shelby, … Continue reading

Posted in Financial Reform, Richard Shelby, financial regulation | 1 Comment

Consumer Financial Protection Bureau

Yes, firebaggers, Dodd has killed the CFPA after all…and replaced it with a CFPB that has authority to rewrite all lending rules. Elizabeth Warren loves it, but I’m sure someone can explain to me how it’s still a sellout because … Continue reading

Posted in 11-Dimensional Chess, Financial Reform, financial crisis, financial meltdown, financial regulation | Leave a comment

Dodd Breaks w/GOP on CFPA

Chris Dodd’s decision to cut off negotiations with Republicans on a consumer finance protection agency has shocked Washington. Nasiripour suggests that Dodd’s decision was likely influenced by the outcry from progressives and other pro-reform groups who argued that Dodd, a … Continue reading

Posted in Financial Reform, financial regulation | Leave a comment

Failure to Disclose

Via Shahien Nasiripour at HuffPo: The examiner in charge of investigating the bankruptcy of venerable Wall Street investment house Lehman Brothers, the most expensive bankruptcy in U.S. history, said in a report publicly released Thursday that senior officials failed to … Continue reading

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

Finally, Some Interest In CDOs

Remember those Collateralized Debt Obligations that nearly destroyed the world just fifteen months ago? The government is just getting around to an investigation thereof: In a letter dated Oct. 22, the SEC sent what amounts to a questionnaire to a … Continue reading

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

Could Major Financial Reform Pass on a Voice Vote?

This got me thinking: Lobbyists and committee staffers expected that the amendment — which would mandate that banks essentially could not lend out or invest more than 12 dollars for every dollar they keep in reserve — would only get … Continue reading

Posted in Banks, Financial Reform, Gold Standard, credit crunch, financial regulation | Leave a comment

Sachs Socialism, Mind Bullets

Compelled by a headline about Goldman Sachs CEO Lloyd Blankfein saying that he does “God’s work,” I pored through this article from UK TimesOnline and discovered a scheme to horrify the Ayn Rand set: collective rewards! The idea of teamwork … Continue reading

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

Teabagging Financial Reform

The teabagging of financial reform has begun, and the White House is calling bullshit early: Larry Summers, the top White House economic adviser, on Friday accused financial lobby groups of using “death panel” type scare tactics to try to block … Continue reading

Posted in Kulturkampf, Producerism, financial regulation | Leave a comment

Michael Moore On Leno

I am so glad I watched this last night. Michael Moore has it exactly right: in order to change the way America distributes wealth, progressives need to take ownership of populist resentment over the bank bailouts and talk in the … Continue reading

Posted in financial regulation, michael moore | 2 Comments

Obama Versus Wall Street

It was a rare agreement yesterday morning as Robert Reich and Pat Buchanan discussed the year-old financial crisis: The exchange tells us once again how very bipartisan the issue remains. Meanwhile, in New York, President Obama was declaring the days … Continue reading

Posted in financial crisis, financial regulation, wall street bailout | Leave a comment