Obama must now prime the pump to get us out of a multi-pronged mess left over from the Bush crowd and seven years of Republican control. Republicans chose to look the other way and ignore the financial chicanery going on right in front of them, while the income gap between the very wealthy and average [...]
Filed in Essays, News Blurbs
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Also tagged Al Franken, Banking, Capitalism, Debt, Deficit, Economy, Financial Sector, Free Market, Jobs, Middle Class, Obstructionism, Reform, Republicans, Safety Net, Trickle Down, Unemployment
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Thursday, February 4, 2010
The 325-page report by the Permanent Subcommittee on Investigations, which will conduct a hearing on Thursday, sheds new light on how banks like Citigroup, Wachovia and Bank of America unwittingly shifted hundreds of millions of dollars on behalf of African politicians, their relatives and associates.
The banks ended up closing or restricting the accounts and cooperated [...]
Filed in News Blurbs
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Also tagged Bailouts, Bank of America, Banking, Carl Levin, Citigroup, Corporatism, Corruption, Financial Sector, Fraud, Money Laundering, PEP, Shell Corporations, Wachovia
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As the President continues to work on immediate job creation, he discusses his proposal for a new fee on the largest financial institutions to ensure that every cent of taxpayer assistance gets paid back. Saying that, “we’re not going to let Wall Street take the money and run,” he goes on to discuss the ongoing [...]
Filed in News Blurbs
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Also tagged Banking, Barack Obama, Corporatism, Corporatists, Disaster Capitalism, Financial Sector, Haiti, IMF, Poverty, Shock Doctrine, Wall Street, World Bank
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Wednesday, January 6, 2010
The reformed policy, which Salazar announced earlier today, will require more detailed reviews before leases are issued, will allow for more public involvement in developing master leasing and development plans, and will shift the focus of new drilling toward areas already being developed. The reforms also create an Energy Reform Team to identify and implement [...]
Now if the aerospace lobby had told us after the 1986 Challenger disaster that the key to better performance was to turbocharge the engines and quit performing preflight inspections, everyone would have agreed that they were crazy. Yet that’s essentially what the finance lobby has done over the past decade, and in some weird way [...]
Sunday, November 29, 2009
Sen. Maria Cantwell wants to use state gambling laws to regulate parts of Wall Street, saying someone needs to police financial markets, where “casino capitalism” involving highly speculative trades she likens to sophisticated betting, continue unabated and threaten to create yet another financial crisis.
“She’s going for their jugular,” Michael Greenberger, a University of Maryland law [...]
Wednesday, November 25, 2009
The nation’s bankers have much to be thankful for as they sit down to their turkey dinners on Thursday.
At this time last year, the American financial system was near collapse, rescued only by hundreds of billions of taxpayer dollars. Now the system has stabilized, and the industry is on the verge of a coup that [...]
Filed in News Blurbs
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Also tagged AFSA, Alan Grayson, Bailouts, Bank of America, Banking, Barney Frank, Bill Hempler, Bob Corker, CFPA, Chris Stinebert, Christopher Dodd, Citigroup, Congressional Black Caucus, Consumer Protection, Evan Bayh, Financial Sector, Goldman Sachs, JP Morgan Chase, Lobbyists, Michael Bennet, Reform, Richard Shelby, Ron Paul, TARP, Tim Johnson, Wells Fargo
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“They shouldn’t be handing out bonuses. They should he handing out warrants for arrests. … If you have money in any of these banks that took TARP money, take the money out. Take the money out of those banks. Don’t reward them. Don’t ever trust your money with these people again. Put it in a [...]
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