The central bank specializes in not following laws meant to restrain Wall Street.
banking
Posted inEconomic Policy
The Best Protection Against Financial Crises Is Being Destroyed
When Wall Street blew up the economy, they were forced to cut back on risky borrowing. Now those restraints are being ripped away.
Posted inMoney, Politics, and Power
Sen. Wyden Report: Banks Systematically Ignored Jeffrey Epstein’s Crimes
The report shows how employees at Bank of America, Deutsche Bank, and JPMorgan helped to hide Epstein’s activities because he was a load-bearing part of their ‘wall of cash.’
Posted inPolitics
Ferdinand Pecora: The Greatest Senate Investigator Ever
How Sicilian immigrant Ferdinand Pecora upended the rule of the bankers and ushered in FDR’s radical reforms of capitalism
Posted inTechnology
Crypto Boosters See a Lack of CLARITY
After spending hundreds of millions on Congress to advance their market structure bill, the CLARITY Act, the crypto industry faces one giant obstacle: Donald Trump’s corruption.
Posted inMoney, Politics, and Power
The Project Crypto Scheme
Forget deregulatory legislation; the SEC and CFTC are already working diligently to eliminate regulatory oversight of crypto at the behest of their president.
Posted inEconomic Policy
Greenspan Was the Creator of His Own Disaster
The former Fed chair, who died at the age of 100 this week, deliberately engineered financial markets to be faster and looser. Then they blew up.
Posted inEconomic Policy
Crypto Industry Gets Its Way on GENIUS Act Rulemaking
The primary federal regulators of stablecoins are finalizing their rules for GENIUS Act implementation and, much to the chagrin of the banking industry, crypto firms are getting everything they want.
Posted inMoney, Politics, and Power
‘Magic Pill’ or Placebo?: Black Politicians and the Crypto Lobby
Young Black congresspeople are winning their seats with support from the crypto industry. But can investing in crypto help close the racial wealth gap?
Posted inTAP
Trump’s Bait and Switch on the Top Intelligence Job
Jay Clayton’s appointment as director of national intelligence is not much of an improvement over Bill Pulte.