Weekly Audit: Deficit Reduction = Selling Out to Wall Street

By: Tuesday June 8, 2010 9:33 am

by Zach Carter, Media Consortium blogger

In the fall of 2008, decades of finance-first, bankers-know-best economic policies coalesced to create one of the worst economic crises in history, one that the banks themselves could not survive without staggering levels of government support.

Financial reform: It’s the Derivatives, Stupid.

By: Thursday March 18, 2010 5:39 pm

Fussing about whether U.S. Sen. Chris Dodd’s financial reform legislation contains an independent Consumer Financial Protection Agency is like worrying about whether you’ll lose your tool shed as a conflagration consumes your home. Preserving the economy requires limiting, regulating and exposing derivative trading. That’s because derivatives – those credit default swaps – took down Wall Street — not consumer loans.

Can We Tell Geithner What Loans and Securities We Don’t Want?

By: Sunday March 22, 2009 7:07 pm

This is inspired by Prof. Galbraith’s post about auditing loan tapes.

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