The inexorable march to another big financial crisis takes another baby step every day. The banks, hey, they just keep spreading their muscle and graft everywhere to make sure that nothing changes. To wit.
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Jonathan Tasini's Ruminations on Work, The Economy, and PoliticsTag Archive | "Dodd-Frank"
Wall Street Turning On Obama–Showing The World How Greedy They Truly Are
Posted on 30 September 2011.
It is always a good thing to start the morning with a strong cup of black coffee (no milk, no sugar, thank you) and a good, loud belly laugh. Absurdity is often the root of a good laugh. Exhibit #1 today: Wall Street is now unhappy with the president and some of those characters […]
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The Rescue That Missed Main Street
Posted on 29 August 2011.
What has been extraordinary to watch over the past 30-40 years is the way in which, when economic crisis strikes, the political and economic leadership of the country leaps into the breach to lend a hand–not to the regular people who suffered the most but, rather, to the very institutions and economic elites who […]
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Wall Street Just Doesn’t Give Up–While 25 MILLION Have No Work
Posted on 29 July 2011.
I find myself laughing at this–part in disgust and part in admiration for a group of people who have no shame and just do not care what happens to regular people in the country. On the one hand, we have a monumental jobs catastrophe underway. And, on the other hand, you have the people […]
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Financial Reform Rules DELAYED–Is Derailment Next?
Posted on 15 June 2011.
Look, it isn’t surprising. The entire financial community wants nothing to do with stronger oversight–even though stronger oversight would help prevent another meltdown, though, if you are a CEO of a bank or a big financial institution, the lesson you’ve learned from the last go-around is that you won’t suffer personally… So, they’ll […]
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Clueless Jamie Dimon Is Great For A Big Laugh
Posted on 09 June 2011.
I mean, this is pretty funny–except it’s pathetic, bizarre and, ultimately, gives all of us a great window on the "they haven’t learned anything" culture on Wall Street and the business world in general. Jamie Dimon, CEO of J.P. Morgan (and the Ten of Hearts in the 52 deck-of cards Audacity of Greed), is […]
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BREAKING: White House/Treasury Undercutting Dodd-Frank
Posted on 30 April 2011.
Earlier today I wrote about the plan by the European Commission to launch an anti-trust investigation into the credit default swaps market. I thought I was done for the day but now comes word that our own government appears to be going the other way: weakening important rules for derivatives that were part of […]
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Regs Don’t Hurt Wall St Profits–But Still They Work To Kill Rules
Posted on 23 April 2011.
Interesting juxtaposition, I think, in these two press reports. First, the financial industry is doing all it can to neuter the rules imposed in what I thought was the relatively meak Dodd-Frank changes: Wall Street and the financial industry spent more to lobby Washington in the first quarter of this year than a year […]
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