Banks Are an Oligarchy

Bill Moyers Journal: "Moyers and economists James Kwak and Simon Johnson wonder whether the financial powers are more profitable, and more resistant to regulation than ever. How did Big Finance grow so powerful that its hijinks nearly brought down the global economy - and what hope is there for real reform with Washington politicians on Wall Street's payroll?"


Titan Over Wall Street

Eugene Robinson: "The politics of financial regulatory reform are simple. After the meltdown and the bailout, many Americans - perhaps most Americans - are inclined to see Wall Street as predatory and all-devouring. Striding into the lion's den and calling the beast to heel, as President Obama did Thursday, was a move without a downside."


Obama's Warnings About a Looming Financial Crisis Come Back to Haunt Bernanke

Jason Leopold, Truthout: "For those accustomed at looking into the memory hole, President Barack Obama's pitch to Wall Street bankers Thursday on backing a tough financial reform package currently winding its way through Congress shouldn't come as a surprise."


Senator Specter Takes On Wall Street Bankers

Greg Gordon, McClatchy Newspapers: "Sen. Arlen Specter said Thursday that he'd hold a hearing next month to examine Wall Street firms' potential conflicts of interest when they secretly bet against products similar to those they sold, and into whether investment banks were being penalized too lightly for their roles in wrecking the economy."


Corporate Reform Is Long Overdue: Am I Missing Something Here?

Jack Lohman, Truthout: "Perhaps I'm biased. I bought $25,000 of stock in a corporation that I thought had a good idea. Little did I know that the CEO also had a second idea: to drain the shareholder value through high salaries and bonuses, and then put the company belly up. My money went down the tubes, as did many others, though the CEO and executives made out very well."


How the Game Is Rigged: Computerized Front Running and Financial Fraud

By Ellen Brown

How a Computer Program Designed to Save the Free Market Turned Into a Monster.

Mortgage Madness

Let The Fleecing Begin

By Mike Whitney

The market's in a shambles, decimated by years of fraud and perfidy. What was once a booming industry is now a shriveled, abscess-ridden corpse that buyers are avoiding like the plague.

Six Banks Control 60% of Gross National Product

Is the U.S. at the Mercy of an Unstoppable Oligarchy?

By Bill Moyers

The big banks became stronger as a result of the bailout. That may seem extraordinary, but it's really true. They're turning that increased economic clout into more political power. And they're using that political power to go out and take the same sort of risks that got us into disaster in September 2008.


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