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Are Banks Bluffing About the Danger of Banking Regulation?
Four and a half years after the passage of TARP, one thing is abundantly clear: The American public really, really hates bank bailouts. And yet, nearly three years after the passage of the Dodd-Frank...
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Why Derivatives May Be the Biggest Risk for the Global Economy
Four years after the U.S. recession ended, the global economy is still beset by problems. The present danger comes from Cyprus – where the sea foam once gave birth to the goddess Aphrodite but now only...
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Why is Texas Governor Rick Perry in Illinois?
Like an aging rocker, Texas Governor Rick Perry is currently on the 2013 I’m Coming For Your Jobs tour across America. His first stop: California a couple months ago. This week he’s in Illinois, where...
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The Real Reason to Worry About China
The world is worried about China, but not for the right reasons. Global financial markets were roiled after the world’s second largest economy notched only a 7.7% boost to GDP in the first quarter — a...
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Why Companies Should Put Values First — And How They Can Do It Without...
Nearly five years after the U.S. financial meltdown, the soap opera continues as Wall Street, Main Street, and our government continue to grope for ways to forestall future crises. Unfortunately, the...
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CFPB Finally Fixes the “Anti-Housewife” Rule
Just in time for Mother’s Day, the Consumer Financial Protection Bureau reversed an unpopular rule that some women’s advocacy groups called “insulting”— although it still took the agency almost a year...
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China, the U.S. and a Special Relationship in the Making: 5 Shared Economic...
As President Obama and Chinese President Xi Jinping settle into conversation in California for the weekend, there’s talk of a new kind of G-2 alliance between the nations, and even a “grand bargain”...
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Will Wall Street Finally Put Clients First? Maybe Some Day — But Don’t Hold...
Newsflash: The person giving you financial advice may not have your best interest at heart. It’s been that way since before Richard Whitney stole millions from a “widows and orphans” fund in the 1930s....
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Wall Street Cop Goes After Corzine — and Derivatives Loopholes
Gary Gensler, the chairman of the Commodity Futures Trading Commission, has been the toughest cop in D.C. since the financial crisis, and the only person really willing to take on Wall Street. Although...
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20 Words That Will Make or Break Financial Reform
Correction appended: July 8, 2013, 9:46 p.m. E.T. Derivatives, those complex exploding financial securities that were at the heart of the 2008 Lehman Brothers collapse and global financial crisis, have...
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Regulatory Rumpus: The Battle Over Reinstating Glass-Steagall
Among the small number of Americans who are passionate about financial regulation, no topic raises hackles more than the so-called Glass-Steagall act. It is “so-called” because when you hear the term...
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Richard Cordray Approved as Consumer Watchdog Director: Why You Should Care
Yesterday, the Senate voted to proceed with the nomination of Richard Cordray to direct the Consumer Financial Protection Bureau (CFPB), then approved him later in the day on a 66-34 vote. The move has...
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Rewiring the Banker Brain
If you are in any doubt about how little has changed on Wall Street since 2008, check out yesterday’s front page New York Times story about how banks like Goldman Sachs and Morgan Stanley profited...
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Explaining the Financial Crisis: Why Do We Still Not Know What Happened?
Five years after the Lehman Brothers bankruptcy kicked off the largest economic dislocation in the U.S. since the Great Depression, we are still debating what needs to be done to make the financial...
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Money Talking: JP Morgan’s $11 Billion Would Send the Wrong Message
Is $11 billion a lot to pay for causing some of the mischief that caused the financial crisis? That’s what Justice Department officials in Washington are currently trying to decide. The $11 billion in...
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Foroohar: Washington Dysfunction Is Hurting GDP Growth
For the last three years, there has been much speculation over the economic cost of partisan politics. A new study has put a number on it. According to a report prepared by Macroeconomic Advisors for...
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Budget Deal Is a Tipping Point for the US Economic Recovery
Whisper it—we may be at a tipping point in the US economic recovery. The announcement that U.S. budget negotiators have reached a provisional two-year deal to avert another government shutdown (which...
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Access to Basic Banking Is a Crisis for 40 Million Americans
With nagging questions about our ability to broadly raise the financial I.Q. of most people, the global financial education movement is pivoting to a large pocket where results are near certain and the...
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What Wall Street Can Do to Avoid Overregulation
Complaints and lawsuits cannot solve the problem of overregulation, only ideas can, but for an industry built on ideas for success, Wall Street seems surprisingly short of creativity. Broadly speaking,...
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Janet Yellen Will Be a Fed Chair for the Real, Everyday Economy
Janet Yellen, vice chairman of the Federal Reserve, was confirmed Monday by the Senate to succeed Chairman Ben Bernanke as the next head of America’s central bank. Her term, which begins Feb. 1, will...
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