Congratulations are in order to the Federal Housing Finance Agency, which has managed to bring a case to trial against Nomura Holdings and the Royal Bank of Scotland, two foreign banks with little U.S. reputational risk. This relatively obscure agency oversees Fannie Mae and Freddie Mac. Considering they have nowhere near the power of our federal regulators and prosecutors at our… [Read More]
Bernie Sanders Knocks Wall Street’s Casino-Style Gambling Tactics
Senator Elizabeth Warren applauds Bernie Sanders’ presidential bid, and says, “I think that Bernie Sanders is going to play out a vision for America and that it is important for people to hear what he has to say.” Progressive Democrats have been urging Senator Warren to make a bid for the presidency as well. However,… [Read More]
Why Are Wall Street Bankers Taking Government Jobs?
In letters delivered to the Securities and Exchange Commission (SEC) this last month, Citigroup, Goldman Sachs, and Morgan Stanley are seeking exemption from a shareholder proposal, filed by the AFL-CIO labor coalition, which would force them to identify all their executives who are eligible for awards for entering government service, as well as the specific amounts in question…. [Read More]
How Wall Street Foils Truth, Trust, Transparency and Democracy
Headlines recently focused on Citigroup and its blatant power over government with the inclusion of a Citi-written provision in year-end funding legislation that guts part of Dodd-Frank’s restrictions on banking. It seems that while we were paying attention to, as Senator Elizabeth Warren (D-Mass.) labeled it, Wall Street institutions’ extraordinary influence in Washington’s corridors of… [Read More]