Blogs: Curbing Wall Street

Every day we rise and tell ourselves this will be a good day, free of that unique combination of predation, self-pity, mediocrity and disingenousness which characterizes the modern bank executive. And every day somebody proves us wrong. more »

More »»

Every day we rise and tell ourselves this will be a good day, free of that unique combination of predation, self-pity, mediocrity and disingenousness which characterizes the modern bank executive. And every day somebody proves us wrong. more »

More »»

Originally posted at Capital Gains and Games. more »

More »»

Originally published in The San Francisco Chronicle.

Money laundering. Price fixing. Bid rigging. Securities fraud. Talking about the mob? No, unfortunately. Wall Street.

These days, the business sections of newspapers read like rap sheets. GE Capital, JPMorgan Chase, UBS, Wells Fargo and Bank of America tied to a bid-rigging scheme to bilk cities and towns out of interest earnings. ING Direct, HSBC and Standard Chartered Bank facing charges of money laundering. Barclays caught manipulating a key interest rate, costing savers and investors dearly, with a raft of other big banks also under investigation. Not to speak of the unprecedented wrongdoing that precipitated the financial crisis of 2008.

Evidence gathered by the Financial Crisis Inquiry Commission clearly demonstrated that the financial crisis was avoidable and due, in no small part, to recklessness and ethical breaches on Wall Street. Yet, it's clear that the unrepentant and the unreformed are still all too present within our banking system.

More »»

In the annals of Mitt Romney's days at Bain Capital, one story seems to have escaped our collective memory. It involves Bain's acquisition of a New York City drug store chain during Mitt Romney's tenure there, and the hiring of a new president who would turn out to have pronounced criminal tendencies.

more »

More »»

Wow. Boehner must have had a few too many Merlots before he went on Greta Van Susteran's show on Wednesday:

VAN SUSTEREN, FOX News: People think of him as hawkish on the budget, on expenses, but he voted for TARP. He voted for the auto bailout, voted for two stimulus in '08, voted against the '09 -- February '09 President Obama stimulus. How does -- I mean, how does he explain those, or I mean, how does -- politically, how does he sell that?

BOEHNER: I mean, I think that he's a practical conservative. He's got a very conservative voting record, but he's not a knuckle-dragger, all right? He understood that TARP, while none of us wanted to do it, if we were going to save -- save our economy, save the world economy, it had to happen. I wish we didn't have to do it, either, but he understood that.

So those who were against the TARP are knuckle-draggers? How interesting. Howie gives us this reminder today: more »

More »»

Did Republicans work to help our President fix the economy and the country after he took office, in the midst of two wars, a financial crisis, and an economic emergency? This is a question every American should consider. The month President Obama took the oath of office the country lost another 815,000 jobs. What did Republicans do to help him and us? more »

More »»

Paul Ryan's looks are often compared to an actor's, and that's no accident: He's being groomed for the role of a lifetime. more »

More »»

Paul Ryan's looks are often compared to an actor's, and that's no accident: He's being groomed for the role of a lifetime. more »

More »»

Yesterday the Justice Department announced that once again it's not going to pursue evidence of Wall Street crimes which has been sent its way. It has already failed to act on information sent to it by sources whose investigators are apparently more dogged than its own, including several other government agencies and the Financial Crisis Inquiry Commission. more »

More »»