Wall Street Wrecks Academia

By: Monday December 30, 2013 4:22 am

Academia is supposed to be a place of scholarship, an environment free of conflicting interests and only dedicated to the search for knowledge. But according to a report by The New York Times Wall Street has weaseled their way into the ivory tower to slant the scholarship in their favor. Those academics who play ball [...]

Volcker Rule Approved By FDIC, Federal Reserve, And SEC

By: Tuesday December 10, 2013 10:35 am

The Volcker Rule has been formally approved by the FDIC, Federal Reserve and SEC. The Volcker Rule, named after former Fed Chairman and advocate Paul Volcker, was passed as part of the Dodd-Frank reform act in 2010 and is meant to prevent or limit large Wall Street banks from proprietary trading – trading on their [...]

House Votes To Rollback Wall Street Regulations

By: Friday November 1, 2013 5:59 am

A mere five years after the 2008 financial crisis the United States House of Representatives has voted to virtually guarantee another one. With bipartisan support, the House voted to rollback provisions of the Dodd-Frank bill and allow Too Big To Fail banks to trade derivatives in units that are guaranteed by the federal government – [...]

House Set To Pass Bills Written For And By Wall Street This Week

By: Tuesday October 29, 2013 10:52 am

Another day, another embarrassment for the republic at the hands of Wall Street and their toadies in government. While the Justice Department is winning judgements against Bank of America and negotiating – albeit oddly – with JPMorgan for a record settlement, the House of Representatives has taken it upon itself to further empower and enrich [...]

U.S. and U.K. Regulators Say Too Big To Fail Banks Can Be Broken Up

By: Monday October 14, 2013 11:01 am

Under the Dodd-Frank Act banks that are “systemic threats” to the financial system or Too Big To Fail are supposed to be dismantled to avoid the necessity for taxpayer bailouts and subsidies. The law has a provision under Title I known as the “Financial Stability Act of 2010″ which created the Financial Stability Oversight Council [...]

JPMorgan Pays Small Fine For Lying To Regulators And Manipulating Market

By: Thursday September 19, 2013 8:58 am

You had to see this coming. After lying to regulators, manipulating the market, and putting out fraudulent documents JPMorgan will pay a relatively small fine and move on. Because when the powerful repeatedly break the law the consequences are never very severe. If we stopped these Wall Street banksters from making criminal profits they might stop [...]

Wall Street Sees Trade Deals As Opportunity To Further Gut Dodd-Frank

By: Thursday June 6, 2013 11:06 am

Despite Wall Street kicking the crap out of reformers in Congress and in the regulatory bodies, they want more. The banksters demand to have what they have had historically – complete domination. Therefore, they are looking for other avenues to eviscerate what little is left of financial reform and seemed to have found another one [...]

Wall Street Lobbyists Literally Writing Bills In Congress

By: Monday May 27, 2013 9:59 am

I try to be cynical, but I can’t keep up. Not only is Congress punting rulemaking to captured and compromised regulators, Wall Street lobbyists are now actually drafting the bills. “Wall Street writes its own laws” used to be a useful polemic, now it’s a statement of fact. Bank lobbyists are not leaving it to [...]

Wells Fargo Forecloses On Homeowner For Making Early Mortgage Payments

By: Wednesday May 22, 2013 11:15 am

As Occupy Our Homes demonstrates at the Department of Justice the fraudclosure crisis continues unabated. A Florida family man who not only made his mortgage payments on time but made payments early faces foreclosure by Wells Fargo. The explanation for initiating the foreclosure proceedings by Wells Fargo is nothing short of amazing and offers a [...]

CFTC Caves To Wall Street, Will Continue To Allow Cartel To Control Derivatives Market

By: Friday May 17, 2013 7:59 am

Behold the power of finance capital. Despite shitting the bed and making us all clean it up, Wall Street will remain essentially the same as the Commodities Futures Trading Commission (CFTC) caved to the banksters and will continue to allow a cartel to control the derivatives market. Under pressure from Wall Street lobbyists, federal regulators [...]

House Moves To Gut Derivatives Regulations Again

By: Tuesday May 7, 2013 10:32 am

Noted Wall Street ski buddy and House Financial Services Chairman Jeb Hensarling is moving to re-deregulate derivatives by gutting the Dodd-Frank Act. Apparently one financial crisis this century is not enough for Hensarling and friends as the House today is marking up a slew of bills to help Wall Street avoid derivatives oversight. The Committee [...]

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