Despite continued failures in the industry, the Fed decided to take orders from bank CEOs.
financial industry
Posted inTAP
Powell Reluctantly Relents
Today on TAP: After long delay and needless economic damage, the Fed chair commits to cutting interest rates.
Posted inEconomic Policy
Collapsing Mortgage Securities. Broken Processes. No Accountability. Sound Familiar?
Faulty credit ratings were a cause of the 2008 crisis. One whistleblower complaint argues that the same dynamic is happening again.
Posted inMoney, Politics, and Power
What We Talk About When We Talk About the Revolving Door
Bringing tech and finance executives into government because they are ‘the country’s smartest and hardest-working people’ is faintly ridiculous.
Posted inEnergy and the Environment
Florida Invests in Catastrophe
The Sunshine State is putting public pension money into risky bonds that transfer risk away from insurance companies.
Posted inEconomic Policy
Will Panic on Wall Street Convince Jerome Powell to Do His Job?
The Federal Reserve should have cut rates months ago. Now it might be too late.
Posted inMoney, Politics, and Power
Wall Street Hits the Locker Room
Private equity firms are maneuvering to invest in college athletes, their schools, and the conferences they play in. The deals could add risk to the whole system.
Posted inMoney, Politics, and Power
Escape From the Box
New technology and old tactics have made buying a car a death march of deception. Jase Patrick, who spent 15 years in the business, reveals the dealer secrets.
Posted inEconomic Policy
The Fed Covers for Big Banks Amid Growing Stress
The central bank weakening the penalties for failing a living will plan is bad in theory. In practice, with commercial real estate defaults rising, it’s even worse.
Posted inMoney, Politics, and Power
Built by AI Hype
As it dominates the market for AI chips, Nvidia was briefly the most valuable company on Earth. How it got there is the subject of a Justice Department investigation.