Lehman Brothers
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Secrets and Lies of the Bailout
The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come
- Politics
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A Rare Look at Why the Government Won't Fight Wall Street
The great mystery story in American politics these days is why, over the course of two presidential administrations (one from each party), there’s been no serious federal criminal investigation of Wall Street during a period of what appears to be epic corruption. People on the outside have speculated and come up with dozens of possible […]
- Politics
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Goldman Non-Prosecution: AG Eric Holder Has No Balls
I’ve been on deadline in the past week or so, so I haven't had a chance to weigh in on Eric Holder’s predictable decision to not pursue criminal charges against Goldman, Sachs for any of the activities in the report prepared by Senators Carl Levin and Tom Coburn two years ago. Last year I spent […]
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Taibbi on Spitzer: Wall Street Regulators Let the Big Guys Off Easy
Matt Taibbi dropped by Eliot Spitzer's Current TV show, Viewpoint, last night to discuss the subject of his latest Taibblog post – how the Securities and Exchange Commission, the government's cop on the Wall Street beat, looks the other way while the big banks bend and break the law. He cites Lehman Brothers as a particularly […]
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SEC: Taking on Big Firms is 'Tempting,' But We Prefer Picking on Little Guys
Wall Street did the crime -- but not the time. And here's why.
- Politics
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Hank Paulson's Crony Capitalism
Crony capitalism isn't usually this bald. But, then again, this is Hank Paulson we're talking about.
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Jon Stewart on Jon Corzine's Debt Problem
Jon Stewart has found a way to explain "the corporate-government-industrial complex in all its clusterfuck-itude" to ordinary Americans: the tale of former New Jersey governor and Goldman Sachs head Jon Corzine, who recently resigned as head of financial firm MF Global after it declared bankruptcy. Corzine had leveraged the firm's equity at a rate of […]
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Why Mitt Romney's Entitlement-Privatization Plan Is Crazy
David Brooks, the [gratuitous insult deleted], wrote this this morning entitled "Mitt Romney, the Serious One." In it, he explained how Romney’s recent decision to unveil a plan for reforming the entitlement system "demonstrates his awareness of the issues that need to define the 2012 presidential election." Romney grasped the toughest issue – how to reform […]
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The $2 Billion UBS Incident: 'Rogue Trader' My Ass
Making insanely irresponsible decisions with other peoples’ money is exactly what Wall Street does.
- Politics
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