The Financial Crisis Inquiry Commission hearings continue to be a boring mess, peppered with a few moments of significant insight. Throughout most of yesterday's hearing featuring the nation's top bank regulator, Comptroller of the Currency John Dugan, Commissioners treated their witness as a credible expert, rather than a culpable catalyst of the crash. more »
Why did Angelides wait until 3:00 to hit Dugan on preemption? He really went for it, and it was great. Angelides to Dugan: "You tied the hands of the states and then you sat on your hands." more »
The top U.S. bank regulator, John Dugan, hasn't even started testifying before the Financial Crisis Inquiry Commission, but he's already spinning deceptions. more »
Alan Greenspan's testimony before the Angelides Commission certainly provided a target-rich environment, as they say in the Pentagon. Unfortunately the Commission missed all its targets, leaving the American public as undefended from financial depradation and ruin as it was before the hearing began. It was almost anticlimactic when the power failed during the final fifteen minutes of Greenspan's appearance. The light had left the room long before then. more »
The Office of the Comptroller of the Currency (OCC) is the top bank regulatory agency in the United States. It oversees the largest banks in the country, and completely failed to regulate them effectively in the years leading up to the Great Financial Crash of 2008. more »
Robert Rubin and Chuck Prince ran the financial giant Citigroup in the years leading up to the Great Financial Crash of 2008. Together, their leadership proved so disastrous that the company was forced to beg for one of the largest bailouts in economic history. more »
I rarely accuse Paul Krugman of failing to think clearly, but I think he's missed the mark with his his argument against breaking up the U.S. too-big-to-fail financial oligarchy.
The latest letter from J.P. Morgan Chase CEO Jamie Dimon to his company’s shareholders is a deliberate effort to obfuscate his own bank’s rapaciousness and deflect attention from the enormous sums it has spent lobbying against financial reform. more »
What secrets are hidden in the Federal Reserve's trillion-dollar shadow? Economic recovery depends on confidence, and confidence requires knowledge. But senators like Chris Dodd and Judd Gregg don't want us to have that knowledge. They don't even want it themselves. more »
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