Category: Financial Reform

The New Bottom Line, one of the organizations leading the \”move your money\” movement and the national \”Bank Transfer Day\” on Saturday, announced today that nearly $50 million had been removed from Bank of America and other Wall Street banks. With that as a start, the movement has set a new goal: $1 billion withdrawn…

Sometimes, even an institution that is \”too big to fail\” is not too big to be influenced by energized citizens on a quest for basic fairness. With a national \”move your money\” day coming up on November 5 and facing the prospect of losing tens of thousands of customers, Bank of America announced today that…

One of Wall Street\’s most brazen disinformation campaigns ever on behalf of a naked money grab from consumers comes to a head on the Senate floor this afternoon, in a vote that will force senators to choose between protecting consumers and legalizing extortion. Sen. Jon Tester, D-Mont., has introduced an amendment to the Economic Development…

Bankers. The red carpet\’s still being rolled out for them in Washington, but if there\’s a stain on it they\’ll pout for days. Jason Linkins documents the latest set of cheap white whines from very wealthy white men. (Discrimination lawsuits are a routine part of their legal troubles, too.) This time they\’re upset because nobody…

Peter J. Wallison has a bright future … as a surrealist author.. He and the other Republicans on the Financial Crisis Inquiry Commission tried to undermine that group\’s work by attempting to ban phrases like \”Wall Street\” from its final report. Now he\’s trying to rebut news reports about their behavior. His response is a…

A sleeper cell of four Republicans struck the Financial Crisis Inquiry Commission this week, escalating what had been previously been a campaign of covert obstruction into an overt act of sabotage. That act should be seen for what it is: A \”denial of service attack\” on bipartisan cooperation and public deliberation, designed to destroy the…

From \’Single Mom\’: \”I lost everything, I am now losing the roof over our heads, my 30 year history of good credit, my self-respect. I cried at night, sobbed really, about how I had destroyed my life, how I can\’t look my son in the face now sometimes, for fear he will see how I…

Here\’s something the administration may want to take to heart: Trust is a lot like money. If you spend more than you earn, it could be gone when you need it the most. Consider the Attorney General\’s highly-touted announcement of a \”crackdown\” on financial fraud. Americans have been waiting for this ever since bank crimes…

In 2008, Barack Obama said this: \”I think Ronald Reagan changed the trajectory of America in a way that Richard Nixon did not …\” He might want to rethink that statement, especially now that he seems to be promoting policies that are opposed by large majorities of the voting public. Obama needs to channel his…