I run an online business that accepts payments via Paypal. It’s a subscription model, so people are billed every month. One of my customers got caught up in one of the giant hacks at Target or Home Deport, or whatever. In response to her card getting stolen, the bank challenged every single charge on her …
Here are the documents regarding the hearings about the role of investments bankers (e.g. Goldman Sachs) leading to the Great Recession.
So even if the Tea Party folks saw the light, what can ordinary Americans do?
That’s the question I want to put to my guests, Simon Johnson and James Kwak. They have written this new book, 13 Bankers: The Wall St. Takeover and the Next Financial Meltdown. It’s a must read – already a best seller — and it couldn’t have come at a better time. This book could change the debate over financial reform by tipping it in favor of the public.
Nomi Prins is a senior fellow at the public policy center Demos and she published a story today on Alternet about how Wall Street fatcats are raking in stacks of cash and up to their old tricks again while they lobby Congress to not regulate them. So far it looks like the Democrats are kind …
Nobody outside of Wall Street elites and the White House inner sanctum knows what’s really going on with the alleged economic recovery. What you do know is that Goldman Sachs is going to be handing out $23 billion in bonuses this year and record profits. You also know that without the hundreds of billions of taxpayer money, Goldman Sachs wouldn’t be rolling in piles of cash while its competition was left to fail (e.g. Lehman Brothers). And if you’ve been reading the newspaper, you know the Obama administration doesn’t care.
Most people, including myself, have no idea what financial institutions do. Whatever it is they do do, it sounds like a sweet gig, especially now that any competition that may have existed before the crash of 2008, is now gone. Goldman Sachs and JPMorgan Chase are running wild with taxpayer money, no regulation and no competition.
The Nation’s Katrina Vanden Heuvel wrote today: “These next few months are a time of reckoning.
Every so often in American political history, a window for change opens, and the combination of crisis, leadership, and political movement makes big, positive reforms possible.”
The Huffington Post published an investigative story on how the Federal Reserve controls what economists think, write and missed the obvious housing bubble burst.