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Regulators move to gut 'last line of defense' against Wall Street gambling — with the help of Democrats

In a move policy analysts and progressives warned could drastically increase the risk of another financial collapse, two Democratic regulators appointed by Senate Minority Leader Chuck Schumer (D-N.Y.) joined their GOP colleagues in pushing the Federal Reserve to weaken safeguards that limit Wall Street's dangerous gambling.

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Here are the two presidential candidates that terrify Wall Street the most

Despite his boasting about supposedly invigorating the economy, President Donald Trump has alienated many on Wall Street and in the financial industry with his erratic leadership,  his trade wars, and his opposition to immigration.

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How Steve Mnuchin’s path of destruction leads from Wall Street to Trump’s Treasury

The following is an adapted excerpt from the new book Fat Cat: The Steve Mnuchin Story by Rebecca Burns and David Dayen (Strong Arm Press, 2018), available for purchase from Amazon and IndieBound:

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Wall Street's corruption runs deeper than you can fathom

Of the myriad policy decisions that have brought us to our current precipice, from the signing of the North Atlantic Free Trade Agreement (NAFTA) to the invasion of Iraq and the gerrymandering of House districts across the country, few have proven as consequential as the demise of Glass-Steagall. Signed into law as the U.S.A. Banking Act of 1933, the legislation had been crucial to safeguarding the financial industry in the wake of the Great Depression. But with its repeal in 1999, the barriers separating commercial and investment banking collapsed, creating the preconditions for an economic crisis from whose shadow we have yet to emerge.

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Experts warn another recession could be just around the corner

The U.S. economy is growing at the fastest pace in five years, American companies are earning record profits and unemployment is at the lowest level in almost half a century.

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Another recession is inevitable - but Trump's trade war and a global growth slowdown may be speeding it along

The U.S. economy is growing at the fastest pace in five years, American companies are earning record profits and unemployment is at the lowest level in almost half a century.

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The Trump Economy Is on the Path for Another Financial Crisis - And It's Likely to Be Even Worse This Time

At summer’s end, the U.S. economy looks to be sizzling. Unemployment is low. Growth is higher than expected. Consumer confidence is soaring and Wall Street just set a record bull run.

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Hightower: It's Time for a Wall Street Sin Tax

The moneyed populace is adroit at getting Congress to shift America's tax burden to workers, consumers, small businesses -- anyone but them. Sen. Russell Long, the former chair of the finance committee, used to quote a little back-country ditty on this point: "Don't tax me, don't tax thee, tax that fellow behind the tree."       

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Robert Reich Takes American CEOs to Task for Their 'Shameful Silence' on Trump

Congressional Republicans would be more willing to stand up to Trump if their major financial backers – big business and Wall Street – had more backbone.

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Dems Team Up with GOP to Weaken Bank Rules, Which Critics Say May Lead to More Bailouts and Misconduct

On Tuesday, 16 Senate Democrats joined with 50 Republicans to advance a bill slated to roll back key financial regulations passed in the wake of the 2008 financial crisis. The bill would exempt 25 of the nation’s 40 largest banks from being subject to heightened scrutiny by the Federal Reserve. If it passes, it would be the biggest weakening of the Dodd-Frank Act since it was signed into law in 2010. The 67-32 vote in favor of a “motion to proceed” now sends the bill back to the floor for debate and possible amendments before a final vote in the coming days. We speak to Alexis Goldstein, a senior policy analyst at Americans for Financial Reform.

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Wall Street Made Bank on Trump in 2017

It’s been a very good year for Wall Street. The S&P 500 reached record highs week after week, and analysts are upgrading U.S. profit estimates at a brisk pace. The finance industry spent nearly twice the amount of any other industry on campaign contributions in the 2017-2018 electoral cycle so far, and their investment in Trump and the GOP is clearly paying off. The Wall Street wins since Trump took office are almost too numerous to count, but we’ve cataloged them in our new report. Here are some of the lowlights:

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