On Wednesday, the Federal Reserve proposed a major rollback of bank liquidity requirements imposed on Wall Street after the 2008 financial crisis. The bankers are getting everything they want, like they always … Continue reading Wall Street Moves to Gut Post-Crisis Rules
International Monetary Fund chief Christine Lagarde has been convicted over her role in a controversial €400m (£355m) payment to a businessman. French judges found Ms Lagarde guilty of negligence for failing to … Continue reading Christine Lagarde convicted: IMF head found guilty of criminal charges over massive government payout
Since the collapse of Lehman Brothers, we have pumped the water out of the ship without patching the holes. If we don’t do the latter—particularly now while we have some breathing room—then … Continue reading Four Lessons (Not) Learned From The Financial Crisis
The aftermath produced a lost decade for European economies and helped lead to the rise of anti-establishment political movements here and abroad. Blunder after under after blunder, and we’re headed towards repeating … Continue reading The Real Cost of the 2008 Financial Crisis
After the Lehman Bros. collapse, Bernanke argued to lawmakers that we faced a catastrophic collapse of the financial system and a second Great Depression. That wasn’t true. It was a way to … Continue reading The bank bailout of 2008 was unnecessary. Fed Chairman Ben Bernanke scared Congress into it
Capitalism’s near-death experience was a golden opportunity for progressives. But they blew it, says the Guardian’s economics editor Larry Elliott Yep. Maybe the young will finally stand up and fight the status … Continue reading Ten years after the financial crash, the timid left should be full of regrets
Email transcripts released by the US Department of Justice (DOJ) show RBS bankers joking about destroying the housing market before the 2008 crash. And they are not the only bank that knew … Continue reading Emails show RBS bankers joked about crashing the US housing market before 2008
In the final hours of Tuesday night, the Senate voted to nullify a rule that would’ve allowed customers of banks, credit-card companies, and other financial institutions to join together in class-action lawsuits … Continue reading Congress’s Late-Night Vote to Protect Banks From Lawsuits
The EU’s proposal to split up retail and investment banks is buried. So much for reigning in these “too big to fail” banks. As the article states: The withdrawal of the … Continue reading Banks Win as EU Scraps Proposal to Split Up Retail and Investment Banks
The Federal Reserve chair rejected assertions from President Trump and top aides that regulators have gone too far and that the rules should be rolled back. Source: Yellen rejects Trump approach to … Continue reading Yellen rejects Trump approach to Wall Street regulation, says post-crisis banking rules make economy safer
The bank earned $26.5 billion over the past 12 months, the most ever by any major U.S. bank. While trading results reported Friday were worse than analysts expected, second-quarter net income set … Continue reading JPMorgan Just Had the Most Profitable Year in the History of Banking – Bloomberg
Wonder why repealing the Glass-Steagall act was a bad thing? Just look at the chart below! Talk about bank consolidation and the concept of “too big to fail!” Great graphic from @BetterMarkets. … Continue reading Why repealing the Glass-Steagall act was bad
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