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Who Are Banking Regulators Hearing From?
The Los Angeles Times has a good piece on financial reform today. The lede: Having failed to block financial reform, Wall Street is now focused on the next best thing: ensuring that the law is loosely...
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WikiLeaks and BoA
Forbes' big news was old and incomplete, but still . . . . Yesterday Bank of America’s stock plunged after a Forbes interview with Wikileaks founder Julian Assange republished allegations that Assange...
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WSJ: SEC in Talks With Banks to End Probe
60 Wall Street; J.P. Morgan HQ The Wall Street Journal floats a story today that the Securities and Exchange Commission is “in talks” with several big banks on a possible settlement to the regulators’...
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Operation Broken Trust?
Eric Holder U.S. Attorney General Eric Holder announced a giant sweep of scammers today during a noon press conference at the Department of Justice. More than 500 people have been charged in various...
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We Can’t Even Print Money Right
In these days of “quantitative easing” and stimulus spending (NOT printing money, insists Federal Reserve Chairman Ben Bernanke), the U.S. dollar’s much-diminished world stature is best exemplified by...
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Unemployment Insurance Is Still 99 Weeks Max
The unemployment extension negotiated by President Obama in exchange for giving tax breaks for people earning more than $250,000 per year is not—repeat, not—an extension of unemployment benefits beyond...
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Goldman’s Big Squeeze
Sen. Carl Levin released some e-mails yesterday by Goldman Sachs boys showing how the firm tried to manipulate markets in the spring of 2007. The WSJ buried the story and mis-headlined it. (HT CJR) But...
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It Was All Liar’s Loans
My friend William Black has an excellent (if badly proofread and edited) analysis of our economic situation here at HuffPo (via Benzinga). He explains how the liar’s loans—those no-documentation,...
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HAFAssed
Short sales are about to get a bit easier for scammers intelligent real estate entrepreneurs of all kinds, and the federal government will pick up the tab. That’s my conclusion, anyway, from a series...
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The Atlantic Monthly Goes Galt to a Fault
Finally got around to “The Rise of the New Global Elite,” Chrystia Freeland’s telling profile of the Asshole Class in the January/February Atlantic Monthly. Freeland is among the media elite It’s hard...
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The Official Report of What Happened
The Financial Crisis Inquiry Commission Report is published. Get yours here. I’m going to take my time and read it, but in the meantime, check out what Bill McBride at Calculated Risk says. He saw this...
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Krugman Needs a Weatherman
The Times’ Paul Krugman had a boffo column yesterday on the link between high global food prices and global warming. “Boffo” because it’s sure to piss off the global warming deniers and so get lots of...
View ArticleEducation to Win the Future!
So if we’re gonna “win the future” (in the president’s winning phrase) we’re all gonna need s’more book-learnin’, according to just about all the important economists in the United States. Just a few...
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The Hacks (Part One)
Economist David Laibson wants it known that he had nothing to do with it As an uncredentialed observer of the politics of macroeconomic policy, I have often wondered just how transparently cheesy the...
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Sachs Appeal
Twenty years ago he was counted (incorrectly, he maintains) among the neoliberal shock doctrine folks. Now he’s a raving lunatic (by Manhattan/Washington, D.C., standards, anyway). Here’s Jeffrey Sachs...
View ArticleForeclosing on the Bank
Come the revolution, this guy will be leading legions. Try to picture that.
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Financial Meltdown Caused by Subversion, Pentagon Contractor Supposes
The Washington Times reports that a man whose job is finding outside threats to national security has located one—in the current near-depression. Apocalypse Mao? Kevin D. Freeman concluded in a 2009...
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Enron E-mails Teach Reading Machines
The New York Times has a story Saturday about computer programs that not only read, but analyze millions of documents to determine the relationships between the folks mentioned in them and even the...
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Insanity and its Malcontents
I keep doing the same basic post over and over, hoping something will change. I know what that makes me, so this is one of the last posts I’m going to do in this blog (though you can still find me over...
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Taylor Bean Criminal Trial Underway
Many words have been written about the alleged fact that “nobody goes to jail” for the giant theft perpetuated on us all. But one guy—Taylor Bean and Whitaker founder Lee Farkas—is now on trial for...
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