Wall Street has quickly rediscovered the virtues of mammoth paychecks. Why hasn’t there been more financial reform? By ALAN S. BLINDER I hear Gordon Gekko is making a comeback. So is greed. They say markets are alternately ruled by greed and fear. Well, our panic-stricken
Julia Gordon of the Center for Responsible Lending testified on January 13, 2010 before the Financial Crisis Inquiry Commission. Download her testimony (PDF).
Banks are bracing for outrage, not just from the public but from their employees as well. Dan Pedrotty of the AFL-CIO shares insight in this video.
US Taxpayers spent $180 billion to bail out AIG – and bought an 80% stake in the company in the process. Sign the open letter to AIG here! As taxpayers and majority shareholders in AIG, we ask that you immediately release all emails, internal accounting
Despite unleashing havoc on the global economy, Wall Street is on track to pay out an all-time record in bonuses and compensation this year. The nation’s six largest banks alone – Goldman Sachs, JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Morgan Stanley –
For Immediate Release: Contact: Taylor Lincoln (202) 454-5197 Angela Bradbery (202) 588-7741 Public Citizen Calls for Reforms; More Than 20 Protests to Be Held Around Country WASHINGTON, D.C. – The CEOs of 10 Wall Street firms that either failed or received taxpayer bailouts were paid
The power of the people. Earlier this fall, the JOURNAL traveled to Chicago to check in with protestors outside the American Banking Association’s annual convention. This week, Bill Moyers spoke with veteran organizers Heather Booth, director of Americans for Financial Reform, and George Goehl, executive
Download this testimony as a PDF. Chairman Lincoln, Ranking Member Chambliss, and Members of the Committee, thank you for inviting me to testify before you today. The American people clearly sense that there is something deeply flawed in the current structure of our financial markets
Support Strong Derivatives Regulation Congress cannot protect the U.S. financial system without acting to regulate over-the-counter derivatives, which brought down AIG at a cost of $134 billion to taxpayers. The five biggest banks dominate the derivatives market and want to maintain the status quo, since