Relevant and even prescient commentary on news, politics and the economy.

Robert Reich and Sandy Weill

From Robert Reich on Sandy Weill: If any single person is responsible for Wall Street banks becoming too big to fail it’s Sandy Weill. In 1998 he created the financial powerhouse Citigroup by combining Traveler’s Insurance and Citibank. To cash in on the combination, Weill then successfully lobbied the Clinton administration to repeal the Glass-Steagall […]

“Fear and Loathing” of Wall Street, 2012

by Jeff McCord of The Investor Advocate “Fear and Loathing” of Wall Street, 2012 To-date, the presidential primaries have studiously avoided reference to the unfolding catastrophe brought to the American public just four years ago by the financial services industry. The political issues contested thus far bring to mind Hunter Thompson’s reporting of the 1972 […]

Interview of Mr. John Reed regarding banking fixing the game

In case you are not aware, Bill Moyers is back and he doing his best work to date concentrating on our the changing of the rules regarding the economy. This episode where he interviews John Reed, former Citi Bank CEO and current MIT chair is most telling as it relates to the issue of why […]

Johnston: Income Inequality Increases as Bank Regulation, Prosecutions Decrease

Via Taxprofblog comes David Cay Johnston’s Income Inequality Increases as Bank Regulation, Prosecutions Decrease through Reuters, The Taxpayers’ Burden, by David Cay Johnston: The accompanying graphic shows a fascinating correlation. In the years before New Deal regulation of banks and after the easing of regulations began in 1980, bank failures were quite high. So was […]

GOP wants to repeal Dodd-Frank: instead they should listen to Nassim Taleb

by Linda Beale GOP wants to repeal Dodd-Frank: instead they should listen to Nassim Taleb Nassim Taleb, the author of the book on long-tail events, suggests in a Nov. 6, 2011 op-ed in the New York Times that “it is only a matter of time before private risktaking leads to another giant bailout like the […]