Just how did Shkreli get busted? The Cardinal Sin. He screwed other rich people.
The images this morning of uber post-modern mega-bro/libertarian Frankenstein’s monster Martin Shkreli being carted away in cuffs elicited reactions running the gamut from childlike bliss to sexual...
View ArticleUnderwhelmed. A weak response from Bernie's team.
I am a big Bernie supporter. That’s why I’m fretting. If I'm going to be brutally honest, I would have to admit that I don't think that Bernie's surrogates are very exciting OR very articulate. I...
View ArticleSenior bank execs must be prosecuted says Financial Crisis Inquiry...
Well, you can’t say Bernie’s candidacy has had no impact.Phil Angelides was state treasurer of California for a number of years*, and in 2006 he ran for governor against Arnold Schwarznegger. In 2009,...
View ArticleThis isn't because I'm a Conservative. It's because I'm an asshole.
This image comes from facebook.com/patriotpost a piece of shit Cheap Labor Regressive website spreading the common breed of right wing lies, myths, falsehoods, and propaganda we expect today but thick...
View ArticleIt's the Oligarchy Stupid!
When Bill Clinton was campaigning for the presidency for the first time, he made the refrain, “It's the economy stupid”, which was correct, however the economy he was referring too, wasn't the one...
View ArticleIs it Deja vu All Over Again?
Little tidbits of news here and there make it sounds like we are going back to those (not so) thrilling days of yesteryear.First we have the Neo Cons sounding like they want to get the band back...
View ArticleFin Crisis Commission referred Robert Rubin to DoJ for prosecution in 2010....
Fortune has the story: Robert Rubin Was Targeted for DOJ Investigation by Financial Crisis CommissionIn late 2010, in the waning months of the Financial Crisis Inquiry Commission, the panel responsible...
View ArticleDiary slamming Sanders betrays deep ignorance of financial crises and...
There’s a diary published yesterday which reaches various conclusions from Bernie’s interview with the editorial board of the NY Daily News. I believe those conclusions are largely wrong.Let me start...
View ArticleWells Fargo settles for $1.2 billion, admits they deceived U.S. government...
Right over the weekend, just out of the news cycle, Wells Fargo & Co reached a “record breaking” $1.2 billion settlement with the U.S. Department of Justice.The settlement with Wells Fargo, the...
View Article5 our of 8 biggest banks fail 'bailout test'—meaning we would have to bail...
The “Living Will” requirements, stipulated by the Dodd-Frank Wall Street reform bill, are meant to access the viability of our financial institutions for the specific purpose of not having to spend...
View ArticleThis President Saved The Country From An Economic Disaster. When Will The...
American history has enjoyed some remarkable instances of exactly the right person appearing at exactly the right time. Franklin Roosevelt comes to mind. George Washington. George S. Patton. George...
View ArticleWhy did nobody go to jail for the financial crisis? I have a new book that...
Well hello, people of Daily Kos. It’s been a long, long time. I spent many of my formative years in the political world here, but I haven’t written in this space in a while.You see, I’ve been busy.I’ve...
View Article5 banks are getting sued for the rigging of $9 trillion market
Bank of America, Credit Agricole SA, Credit Suisse Group AG, Deutsche Bank AG, and Namura Holdings Inc. are being sued for colluding in a bond market worth $9 trillion.The lawsuit filed in Manhattan...
View ArticleMichael Lewis: The Book That Will Save Banking From Itself
Michael Lewis is one of the best USA writers living. His first book, Liar's Poker: Rising Through the Wreckage of Wall Street (1989), was about his time as a rookie bond salesman at Salomon Brothers,...
View ArticleBank of America won't have to pay $1.27 billion judgement against them for fraud
When Bank of America isn’t trying to seize an elderly widow’s home while forgetting to tell her that her loan was insured, they are out defrauding everybody else. After having the largest settlement...
View ArticleHillary Slams Donald
xYouTube VideoApparently Donald Trump was rooting for the 2008 housing crisis, so he could make a lot of money when the bubble burst. In fact Trump did aquire real estate assets at fire sale prices,...
View ArticleElizabeth Warren demands FBI Director's new commitment to transparency to...
Sen. Elizabeth Warren is a one-woman Wall Street wrecking ball, and she's not afraid to stand up to anyone protecting the banksters at the cost of Main Street. That includes FBI Director James Comey....
View ArticleFive questions with David Dayen about foreclosure fraud, activism, and hope
David Dayen (dday to old-timers at Daily Kos) has been the most single most dogged journalist digging into the massive fraud perpetuated on American homeowners in the last decade, the fraud that almost...
View ArticleElizabeth Warren asks FBI why $14 trillion lost isn't of "Intense Public...
..enough interest to warrant hearings — that is. I was drawn back to this story because of the analysis done by Daily Kos Armando concerning FBI Director James Comey's behavior (especially the...
View ArticleURGENT: A Kossack & Her Pooties Need Your Help - Update
This morning I posted a very long diary to ask for help because I am in a crisis situation, and so are the two “pooties” you see in this picture. So far, the response has been amazing and heartening,...
View ArticleDeutsche Bank Liquidity Woes May Test New Rules On Too Big To Fail
It looks like Deutsche Bank (DB) could be in the early stages of a death spiral and the implications for the world's financial system are, once again, enormous. The stock, which was already at 30-year...
View ArticleMorgan Stanley back in deep water as it's charged with 'dishonest and...
Massachusetts’ top securities regulator charged Morgan Stanley with “dishonest and unethical conduct.” The charge says that Morgan Stanley has been running high-pressured sales contests, creating an...
View ArticleThe Shortage Of Safe Assets And Now Dollars
The global shortage of safe assets has been a recognized problem since the financial crisis. It has resulted in below average and even negative interest rates. And the inability of politicians to...
View ArticleNecessary Trouble: Five questions with Sarah Jaffe
Sarah Jaffe is one of the best labor journalists working in the United States today. She’s brought her fearless, blunt voice and thoughtful eye to the Nation, Salon, In These Times, Washington Post,...
View ArticleReflections on the Obama Presidency (2) The Politics of Gridlock
(The second of a series of four reflections observing the Obama presidency in real time; for the first, see ‘The gap between promise and performance’[i])It was never going to be easy to govern America...
View ArticleWall Street Still Trying To Avoid Paying For Fraud That Created Great Recession
We are over eight years out from the financial crisis and we are still waiting for Wall Street to be brought to even reasonable account for their actions. And, even to this day, Wall Street firms are...
View ArticleMoody's Is Latest Wall Street Criminal To Pay Fine And Avoid Prosecution
The first rule of the kleptocracy we currently live in is clearly "heads I win, tails you lose". In another classic Friday announcement before a long holiday weekend, Moody's announced that it has...
View ArticleGoldman Sachs to bankrupt USA
A few years ago Rolling Stone had a great article up on Goldman Sachs and how they’ve basically caused every financial crisis since the Great Depression.Now, Trump wants to install six of them into our...
View ArticleMagic money working magic on 401(k)s
A top policy expert isn’t buying reports of a private-sector retirement “crisis.”In an article, Andrew Biggs not only rejected the gloom but offered a striking counter-narrative. He cited figures...
View ArticleJeremy Corbyn can teach us a thing or two about messaging.
This little video is a master class in messaging that speaks directly to voters. It’s a message that will resonate, it does not equivocate and it cuts to the heart of the issues. We could all learn...
View ArticleNext on the agenda: Carving up the nation's post-recession financial reforms
During those last weary gasps of the George W. Bush administration, the world was rocked by a financial crisis so severe that economists struggled to come up with a sufficiently dire name for it. It...
View ArticleEMERGENCY-- Wells Fargo done goofed, and I have to clean up the mess!
Once again, I want to thank you all for pulling through and sending me enough money that I could pay my tuition. I could not have done that without you!But, sadly and unexpectedly, I’m going to need...
View ArticleCartoon: Senator squish and senator stalwart
The dozen or so Senate Democrats who voted to roll back the meager financial protections in Dodd-Frank could benefit from a Highlights for Children “Goofus and Gallant” to tell them how to vote if they...
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MA-Sen: Sen. Kamala Harris (D. CA) Helps Elizabeth Warren (D) Defeat Trump's...
Received this e-mail today from U.S. Senator Kamala Harris (D. CA) in support of her colleague, U.S. Senator Elizabeth Warren’s (D. MA) re-election campaign:Sen. Elizabeth Warren (D. MA)It was just a...
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Minneapolis Plan: This Federal Reserve Bank's brilliant plan to end...
PROGRESSIVES, please listen and take note! Experts at the Federal Reserve Bank of Minneapolis have released a plan on how improve financial sector regulation. This is the reform we’ve been waiting for....
View ArticleOcasio-Cortez calls for a 21st Century New Deal to correct massive wealth...
Update: Visit the Ocasio2018 website to learn about AOC’s stance on other important issues:It’s Time for a Political Revolution- Alexandria Ocasio-Cortez is running for Congress to create an America...
View ArticleNot since just before the Great Depression has 1% controlled this much...
Via MarketWatch, a news group considered to be one of the most prominent in today’s financial industry, Karl Paul reports that in the last 20-30 years, the disparity between the rich and more as grown...
View ArticleRyan proud of getting his party ‘to recognize debt,’ after GOP added $1...
When hypocrite and loyal Trump minion Paul Ryan is gone from Congress, it will be a glorious day for America—and thankfully, this will be happening soon. Just feast your eyes on this...
View ArticleWhat They Mean When They Say: "Limited Government"
Democrats running for President should offer bold public policy solutions to important problems. But they must also be prepared to respond to the rhetoric of “limited government” that forms the core of...
View ArticleBank CEO dismisses Warren, Bernie and AOC. Gets the clapback he deserves.
On Thursday, Sen Warren and Rep. Jesus “Chuy” Garcia sent a letter to a bank CEO:Senator Elizabeth Warren blasted Jamie Dimon for reviving a policy that pushes JPMorgan Chase & Co.’s credit-card...
View ArticleIn the Last Financial Crisis International Cooperation Saved the US. In the...
The global slowdown has arrived in America. The yield below the three-month treasury is above the yield on the ten-year treasury. Every time that’s happened since the 1970s, a recession followed. Most...
View ArticleWalls, Pipes and Water
Big Bad DonMaybe the Big Don wants his Big Wall boondoggle because he thinks the Presidency is a bigger, better than reality TV show. Maybe he thinks it’s also the ultimate game show. I wonder.Does he...
View ArticleThe Republican Party is ideologically incapable of getting us out of this...
It was March 2008, and the American economy was in free fall. The George W. Bush administration was frozen, relying on token measures of the Federal Reserve to try to stem the bleeding caused by a...
View ArticlePandemic fallout includes handout to rich retirees
The coronavirus pandemic is worlds apart from the financial meltdown of 2008-09. Even so the government’s response was identical in one telltale way. Congress once again gave a special dose of tender...
View ArticleMoral Hazard is its own Systemic Risk - A Dig on the Kid Glove Treatment of...
Moral Hazard is its own Systemic RiskMany of us were introduced to the ideas of moral hazard and systemic risk both as individual terms and as competing concepts with the 2007-2008 financial crisis....
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Psuedo-president Trump lying, lying, lying
What follows is part of a long screed with members of my family in advance of the 2020 presidential election illustrative of the torturous dialog that did and will continue to exist when truth lovers...
View ArticleThe student loan crisis is about more than numbers. Show the human side with...
Student debt has become an extremely profitable industry over the past quarter century. It’s also devastated a generation-and-a-half due to predatory terms and practices that the government has...
View ArticleBiden Administration vs Trump - Don't fund mortgages on $1 million homes
Is anyone else troubled by the fact that government sponsored agencies will fund mortgages on $1 million homes? See this article, which says that Fannie Mae and Freddie Mac will be allowed to increase...
View ArticleDaily Mail shocked to learn Americans value money more than patriotism
The Daily Mail is shocked to learn from a recent WSJ and University of Chicago poll that U.S. respondents reporting patriotism as an important value have declined from 70% to 38% since 1998 while those...
View ArticleQuick note on real cause of 2008 financial collapse
The irony of the 1999 banking reform is that its repeal of Glass-Steagall prohibitions on risky bank investments did NOT blow us up. They might have, given time. But they didn't.It was Gingrich's...
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