Tag Archives: banking

Labor Union Threatens To Support Progressive Challenger To Key Democrat Over CEO Pay

WASHINGTON — The nation’s largest labor union on Friday threatened to challenge the powerful chairman of the Senate Banking Committee in the 2014 elections, if he allows a key set of new executive pay regulations be weakened. Continue reading

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Simon Johnson: Timothy Geithner Headed ‘In The Wrong Direction’

In a major speech earlier this week to the American Bankers Association’s international monetary conference, Treasury Secretary Timothy F. Geithner laid out his view of what went wrong in the financial sector before 2008, how the crisis was handled 2008-10 and what is needed to reform the system. As chairman of the Financial Stability Oversight Council and the only senior member of President Obama’s original economic team remaining in place, Mr Continue reading

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Alan Greenspan: U.S. Debt ‘Scared’ Me Into Supporting Tax Increases

Former Federal Reserve chairman Alan Greenspan is afraid, but not of unemployment, nor a stagnating economy. Continue reading

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Curtis Roosevelt: Why Obama Should Play the Blame Game — Like FDR

When I write about Franklin Roosevelt, my grandfather, I generally avoid comparing him to President Obama. Continue reading

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Dylan Ratigan: Obama’s Moment: Will He Tell Us to Keep Shopping?

It’s hard, even today, to really remember the carnage of 9/11, the sense of piercing fear in what had been a placid lake of prosperity. Continue reading

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House Republicans Amplify Attacks On Elizabeth Warren, Consumer Protection

WASHINGTON — In a hearing marked by openly hostile questioning from House Republicans, consumer advocate Elizabeth Warren made her highly anticipated first appearance before Congress as a member of the Obama administration, emphasizing the need for stronger oversight of big banks and small mortgage firms. Warren, who is currently tasked with setting up the new Bureau of Consumer Financial Protection, was subjected to two and a half hours of inquiry before a Financial Services subcommittee regarding her role at the emerging agency and the scope of its powers. In her testimony, she focused on the need for easily-understood consumer lending terms and stronger enforcement of predatory lending regulations Continue reading

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Robert Scheer: Home Sweet Wall Street

A most dastardly deed occurred last Friday when the Obama administration issued a 29-page policy statement totally abandoning the federal government’s time-honored role in helping Americans achieve the goal of homeownership. Instead of punishing the banks that sabotaged the American ideal of a nation of stakeholders by “securitizing” our homesteads into poker chips to be gambled away in the Wall Street casino, Barack Obama now proposes to turn over the entire mortgage industry to those same banks. Continue reading

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David Coates: Obama and Housing – Is Anybody Home?

You may not know it, if you watch only Washington beltway politics, but we are currently in the midst of a housing crisis of monumental proportions. It is a housing crisis initially caused by the inadequate regulation of private sector mortgage lending when George W. Continue reading

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Pearl Korn: Just Whose Economic Recovery Is It, Anyway?

After hearing the SOTU speech, no-one can have any doubts about where our President’s political proclivities lie. Fully on display were his elitist credentials as a conservative and pro-business president who is all too willing to throw “ordinary people” – a/k/a hardworking and struggling Americans – under the bus. Continue reading

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Paul Blumenthal: The revolving door shouldn’t spin again for William Daley

President Obama has selected former Commerce Secretary and current JPMorgan Chase executive William Daley as his next chief of staff. The Daley selection, which has been hailed by banks, would plant an official emissary from Wall Street into one of the most important jobs in Washington. Continue reading

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