The Treasury Dept.'s mortgage relief program isn't just failing, it's actively funneling money from homeowners to bankers, and Treasury likes it that way.
The existing $75 million cap on damages for offshore drilling companies is a bailout every bit as disgusting as those recently bestowed upon Wall Street.
Zach Carter, Nouriel Roubini, AlterNet. May 18, 2010.
The prominent economist explains why the model of the financial supermarket is a disaster, and why it's so dangerous that Wall Street is back to business as usual.
In a market where 70 percent of all trades are executed by computer algorithms via High Frequency Trading, Goldman Sachs has the power to make the market crash or rise at will.
If the Senate Democratic Leadership can resist the snake oil of a bipartisan deal, the bill will probably get stronger as it works its way through Congress.
Zach Carter, Simon Johnson, AlterNet. April 17, 2010.
The progressive economist talks about the fight to reform Wall Street, what Robert Rubin should do with his money, and why Jamie Dimon is the most dangerous man in America.