Zach Carter

Former Goldman Sachs Banker Revving Up Smear Campaign Against Elizabeth Warren

Wall Street Journal editorial writer who has been closely involved with the paper's recent attacks on Elizabeth Warren is a former Goldman Sachs banker. The same editorial writer, Mary Kissel, is readying another piece critical of Warren and the new consumer agency, according to a source familiar with the coming article.

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A Vast Right-Wing Digg Conspiracy Expose Shows JournoList Scandal to Be a Lot of Conservative Hot Air

Finally, a real media conspiracy! After weeks of right-wing bloviating about the JournoList non-scandal, we finally have evidence of a secretive plot to hijack the media in pursuit of an ideological agenda. But the scandal has nothing to do with JournoList-- a superhyped non-event about liberal journalists emailing each other. Instead, an investigative report written by oleoleolson published on AlterNet Thursday exposed that a cadre of conservatives, including multiple journalists, has been abusing Digg's social media platform to bury stories with a progressive bent.

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4 Bogus Attacks Bankers and Their Political Puppets Are Using to Attack Elizabeth Warren

No reformers question whether Elizabeth Warren is the best candidate to head the new Consumer Financial Protection Bureau. She's a lauded scholar, an inspiring advocate who will draw talented and dedicated reformers to the new agency and she came up with the whole idea for creating the CFPB in the first place. Nominating a dedicated reformer like Warren will send a clear signal to the entire world that the U.S. government is serious about regulating the banks that drove the global economy off a cliff. Nominating anybody else will send a clear signal that bankers still have veto power over key political appointments.

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Wall Street Is Laundering Drug Money and Getting Away with It

This piece originally appeared at Campaign for America's Future. It has been expanded for this publication.

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How the Sneaky Hands of the Big Banks Are Working Overtime to Rip You off

After living through the Great Financial Crash of 2008, just about everybody recognizes that megabanks screwed the economy hard and were rewarded with big bailouts, which further screwed over, well, everybody, in the name of banker bonuses. But Big Finance has been waging its war on the middle class for decades, and many of its most destructive practices don't actually put the financial system in jeopardy. These tactics work because they are so effectively predatory. Banks gouge consumers and get rich—they don't create risks for the financial system, because they result in pure, risk-free profit, converting hard-earned middle-class wages into quick and easy bonuses.

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Inaction by Congress Deepens the Jobs Crisis

After months of modest gains, the U.S. economy lost 125,000 jobs during June. That’s the worst jobs-related news this year. Without serious action soon, the struggling U.S. economy is going to get even uglier. Unfortunately, President Barack Obama’s economic team was slow to recognize the severity of the jobs crisis, and now seems unable to get Congress to actually do something about it.

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10 Ways to Force the Stinking Rich to Share Their Wealth

For all the moaning from deficit hawks, the U.S. budget is simply not in crisis. If investors were losing confidence in our nation's ability to pay off its debts, we'd see a major reduction in demand for U.S. Treasury bonds. And we do not, in fact, see any such reduction. Last week the Treasury sold $21 billion in 10-year bonds, and investors were clamoring for them in such droves that the government had to turn away nearly 80 percent of them. If investors were really worried about the U.S. paying back its debt, they'd demand a very high interest rate from the government to compensate them for the risk they were taking. But in fact, interest rates are remarkably low. That 10-year bond currently fetches a yield of around 3.9 percent. For entire years of President George H. W. Bush's reign, the yield was above 8 percent, often eclipsing 9 percent.

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Alan Greenspan and the New York Times Are Gunning for Your Social Security

With health care reform finally signed into law, a new policy battle over Social Security is quietly but unquestionably building momentum. Make no mistake -- Wall Street is now doing its best to gut Social Security, and as a front-page article in yesterday's New York Times makes clear, the media is not ready to challenge them on it.

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Will Weak Wall Street Reforms Wreck the Economy Again?

Senate Banking Committee Chairman Chris Dodd (D-CT) unveiled his latest financial reform proposal on Monday, and the stakes for the new legislation couldn’t be higher. After consumer groups raised a major ruckus, Dodd has dropped one of his most egregious concessions to the bank lobby—cutting enforcement authority from the proposed Consumer Financial Protection Agency (CFPA). That’s good news: Without a major regulatory overhaul, the U.S. economy’s destructive boom and bust cycle will start all over again.

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How Did A Bank Lobbyist Score The Top Bank Regulator Job?

Of all the architects of last year's financial crash, John Dugan remains the most obscure, despite his stature as one of the most influential. While regulatory errors have made Larry Summers, Robert Rubin and Alan Greenspan household names, most people have never heard either of Dugan or his agency, the Office of the Comptroller of the Currency. But as the chief regulator for the largest US banks, Dugan and his staff are one of the most powerful engines of economic policy in the world.

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