When you see a Wall Street economist offering analysis on cable news or the op-ed pages, you figure you know where they're coming from -- whatever will profit Wall Street. When you see an economist identified as being from Harvard, Yale, Princeton, or Stanford, do you assume that it's a different story?
...Wall Street leaves taxpayers on the hook for municipal swaps
Just another round of taxpayer billions tossed into the plutocratic sinkhole.
Bloomberg, in terrific (although terrifying) piece of in-depth explanatory reporting:
Wall Street Collects $4 Billion From Taxpayers as Swaps Backfire
By Michael McDonald
For more than a decade, banks and insurance companies convinced governments and nonprofits that financial...
Democrats Begin Drive to Push Through Priorities Before Elections
Filed under: Senate, House, Democrats, Republicans, The Capitolist, 2010 Elections, Congress, Harry Reid, Mitch McConnellDemocrats face a tough political environment as they begin a big push to get their legislative agenda through Congress before the N...
Americans for Financial Reform: Major loophole in Wall Street Reform
HuffPo's Shahien Nasiripour obtained an e-mail sent to the Senate Banking Committee by Americans for Financial Reform, alerting them to a major loophole, "wide enough to undermine the whole effort to reform a part of the financial market -- those derivatives traded between financial firms, like AIG, outside of any government oversight -- that's...
Are “Synthetic CDOs” Innovation? Or Merely Fraud?
On Monday, Devilstower went through some of the ins and outs of the Goldman Sachs / Paulson / Magnetar deals, including discussion of that latest of Wall Street "innovations" to have nearly brought down the world economy. You know, the one that might or might not represent criminal fraud...
Now we start...
Kaptur: More Agents Needed for Financial Prosecutions
Americans for Financial Reform, a coalition of 200 groups ranging from AARP to the Service Employees International Union, has decided to back Rep. Marcy Kaptur's bill, H.R. 3995, the “Financial Crisis of 2008 Criminal Investigation and Prosecution Act of 2009.”
The bill, introduced last November, and referred to the Committee on the...
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