Must-Read Investigative Report Highlights Wall Street's Latest Lobbying to Avoid Key Financial Reforms
Reuters' Charles Levinson has written a must-read investigative report on Wall Street's latest scheme to avoid critically important financial reforms: change a few words in their derivatives contracts and pretend that they are not guaranteeing their overseas affiliates.
The top Democrat on the Senate Banking Committee criticized Germany's handling of the Greek crisis.
The growth of the U.S.'s bigger and broader productive economy has been stunted by bad policies and bank bailouts benefiting rent-seeking financiers siphoning off an outsized percentage of the nation's gross domestic product (GDP).
Neel Kashkari is a former Goldman Sachs Golden Boy who left that infamous organization to join the Treasury Department, where he was responsible for overseeing $700 billion in bailouts to his former employer and other Wall Street firms. Now he wants to run for governor of California on that record.
I didn't hear Treasury Secretary Jack Lew on TV yesterday, but I read this morning that he was asked "how come the Obama administration bailed out the banks but isn't talking about doing so for Detroit?"