Tag Archive | financial crisis
Housing Crisis – Can We Do Something Already?
As an update to an earlier post that is continued below, there are more minds examining eminent domain and our real estate collective action problem. It has been shown that when the value of a home falls below the value of the mortgage debt — when it is underwater — a person is much more […]
Financial Regulators Crush Small Fry and Feed Big Whales
The Securities and Exchange Commission has taken the decades-old, stereotypical criticism of useless federal government regulators and owned it. Time and time again the agency has chosen not to enforce rules against the most powerful institutions, has turned a blind eye as the institutions continue fraudulent behavior and has codified the injustice of an economically-elite […]
Mortgage Fraud Task Force PR Campaign
Why the noisy public relations campaign for the mortgage fraud task force? Thankfully, main street has not stopped demanding accountability. As Politico reports, Members of the liberal activist group CREDO Action have made more than 3,000 calls since March to the White House and Obama’s Chicago campaign headquarters urging the administration to assign more investigators […]
Press Release by Invertebrate Schneiderman on Law Day
UPDATE: As I covered in a previous post, Schneiderman penned an Op-Ed article in which he used phrases like “attacking the foreclosure crisis” and “working aggressively to provide accountability”, in describing the mortgage fraud task force. Below, in another post, I suggested that any new press releases for this ‘force-to-be-reckoned-with’ should include indictments. Unfortunately, another […]
Dodd-Frank Compliance = Building Panama Canal Every Year
The quantity and complexity of financial reform into the Dodd-Frank bill simply is not necessary. Two years after the bill was signed into law, regulators have written only 185 of 400 new rules totaling 5,320 pages. The subcommittee on financial institutions and consumer credit predicts it will take the private sector some 24 million hours […]
Other 99% vs. 1%: All Banks vs. Wall St’s Biggest Banks
Guest post by Better Markets Originally published at Better Markets It’s always amazing how the 99% of banks put up with the 1% of biggest banks, their oligopoly, their subsidies, and their favored treatment. It’s clear and visible everywhere and it directly hurts the other 99% of banks, yet the 99% just takes it. For […]
Straw Man Schneiderman and Hypnotist Holder
I’m still trying to recover from the over-the-top Hollywood-style movie script that The American Prospect published with protagonist NY AG Eric Schneiderman playing the role “The Man The Banks Fear Most.” That slap in the face left a handprint on my cheek! Clearly the objective facts, the track record, of the federal government demonstrate that […]
The Wall Street-Washington Financial Complex
Guest post by Jeff Harding. Originally published at The Daily Capitalist Larry Summers worked for hedge fund D. E. Shaw for one day a week for a year and received $5,200,000. Assuming they gave him a couple weeks off, that’s 50 days of work. $104,000 per day is pretty good work if you can get […]
