What Influence Does Wall Street Have Over Candidates Clinton and Sanders?
Clinton plays with figures to understate her degree of Wall Street campaign support, and that ignores past support to the Clinton Foundation.
Read more...Category Archives: Banking industry
Michael Hudson: The IMF Changes its Rules to Isolate China and Russia
How the West is deploying the IMF to fight the nightmare scenario of US geopolitical strategists: foreign economic independence from the US.
Read more...The Fed’s New “Operation Twist”: Twisted Logic for Bank Profits at the Expense of the Real Economy
How did Janet Yellen and the Federal Reserve justify their rate increase now, despite strong signs that there is little economic basis for doing so?
Call this an exercise in twisted logic, plain and simple.
Read more...Bill Black: A “Jihadist” Against the Banks?
More proof that the Department of Justice is working for Big Finance: it tried to discredit Bill Black’s testimony by calling him a “jihadist”.
Read more...The Continuing Fight Over Fannie and Freddie, and the Real Problem of US Mortgages
How understanding the history of Fannie and Freddie, as well as how unnatural US mortgages are, helps explain why the fight over the future of the GSEs continues.
Read more...Debunking “The Big Short”: How Michael Lewis Turned the Real Villains of the Crisis into Heroes
How Michael Lewis’ The Big Short, whether for profit or by accident, has denied the public the truth about what really causes the crisis.
Read more...Even Bank Supporters Arguing for Restoration of Glass Steagall
John Dizard, who perhaps by virtue of being one of the Financial Times’ most original and insightful columnists, is relegated to its weekend “Wealth” section, has written a particularly important pair of articles. Note that Dizard’s ambit is not policy wonkery but apt and often cynical observations about behavior and trading patterns in less visible […]
Read more...German Financialization and the Eurozone Crisis
German financialization and input on the eurozone’s financial architecture promoted deficits, increased systemic risk, and facilitated the onset of Europe’s subsequent crises.
Read more...Banks to Have Fed Dividends Clipped to Pay to Fill Potholes; JPMorgan, Bank of America the Biggest Losers
Banks suffer a symbolically important loss as Congress plans to whack their dividends from the Fed.
Read more...CalPERS Staff, Scandal-Ridden Fiduciary Counsel Argue to Weaken Board Oversight by Reducing Number of Board Meetings
CalPERS CEO and its tainted fiduciary counsel Robert Klausner try to sell the CalPERS board on giving up even more power, when CalPERS clearly needs more, not less, oversight.
Read more...On the Lack of Courage in Regulators
Robert Jenkins, a former banker, hedge fund manager, and regulator, points out that regulatory reform has fallen short on multiple fronts, and perhaps the most important is courage.
Read more...Join Occupy the SEC in Urging the Congress to Oppose H.R. 4002 (“Criminal Code Improvement Act of 2015”)!
Support Occupy the SEC in opposing a bill that would give white collar criminals a new, improved “get out of jail free” card.
Read more...Hillary Clinton Appeal to 9/11 to Defend Wall Street Donations Was Bad, But This Was Worse
Hillary Clinton, is taking some heat for oddly deciding to relate her campaign donations from Wall Street to aiding Lower Manhattan after 9/11. This seems to be what the Gang of 500 has decided on as a gaffe, and it definitely has that odor. But I actually think Clinton said something even more egregious and revealing Saturday night. The problem is that the commentariat has deemed it some brilliant insight.
Read more...To Fix Inequality and Steady the Economy, Think Radically
Originally published at the Institute for New Economic Thinking website Adair Turner, Chairman of the Board of the Institute for New Economic Thinking and former Chairman of Britain’s Financial Services Authority (2008-13), is the author of a new book that takes aim at economic and political orthodoxies, Between Debt and the Devil: Money, Credit, and […]
Read more...10 Economic Facts that Power the Sanders Insurgency
Why are so many drawn to the Sanders message? It’s because so many of us want to stop our entire society from crumbling beneath the destructive power of runaway inequality.
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