Post Tagged with: "lobbyists"
William K. Black on MF Global
Bill Black was on Capital Account talking to Lauren Lyster about MF Global. As usual, Capital Account delves deep into the real issues. Black never disappoints. Video below
Iceland’s Fair Value Vultures
The country is now suffering a second round of economic and financial distress stemming from the collapse of its banking system in October 2008. That crisis caused a huge loss of savings not only for domestic citizens but also for international creditors such as Deutsche Bank, Barclay’s and their institutional clients
Who’s Fool?
Legislation to modify debit-card interchange fees cannot compete with celebrity gossip. It is not surprising that lobbying efforts have changed the minds of 19 senators who formerly aligned themselves with consumers and small banks (to which the lower fees do not apply.) The legislators have now hopped in bed with Too-Big-to-Fail Banks. That is politics as we know it
Stiglitz: Of the 1%, By the 1%, and for the 1%
The following video talk is based on a must-read piece Professor Stiglitz wrote in Vanity Fair on inequality in the United States
Corporatism and the Boston Tea Party
From Wikipedia (section to discuss underlined and bolded): Though the Company was becoming increasingly bold and ambitious in putting down resisting states, it was getting clearer that the Company was incapable of governing the vast expanse of the captured territories. The Bengal famine of 1770, in which one-third of the local population died, caused distress
U.S. Policies Undermining Community Banks
According to Louis Hernandez, U.S. government policy is geared toward the too big to fail banks and this undermines community banks and Credit Unions which serve small and medium sized businesses. His contention is that there is a vast difference between ‘main street banking’ which serves local communities and SMEs and ‘wall street banking’ geared
Jamie Dimon: Don’t call it a comeback
I have been reading the press accounts on the William Daley appointment as President Obama’s Chief of Staff. Bo Cutter is impressed and says "the new Obama Team will get things done" because "Bill Daley can build bridges" to big business. On the other hand, Ryan Chittum has a different take. Ryan calls Daley the
Net Neutrality
By Doug Hornig Today, the Federal Communications Commission acts on so-called “Net Neutrality,” and given the commissioners’ predicted 3-2 party line vote, it would be a shocker if they rejected it. What happens next is anyone’s guess, because the exact text of the ruling will not be known until those contesting the order have had
Google CEO Schmidt: “The laws are written by lobbyists”
Of course they are. Watch this clip of Eric Schmidt to hear what he says in this regard. Is his experience in the telecom and technology space any different than what happens in the financial services space? The other quote that I found interesting was Schmidt’s declaration that "Washington is an incumbent protection machine." This
The phony Senate health care reform bill
I will limit my comments in this post since I am so thoroughly disgusted with Washington’s giveaways to special interests. But I have to bring up health care reform and its likely non-impact on improving American’s economic situation in this time of economic insecurity. I have argued in the past that it is a moral
Why is Barney Frank allowing lobbyists to gut financial reform?
That is the question Newsweek asked of the Democratic Congressman from Massachusetts in charge of banking reform efforts in the U.S. House of Representatives in an interview. Rather than answer the question fairly, Frank attacked the reporter and eventually ended the interview. Don’t expect anything serious on financial reform from Congress. So, we have a