Nomi Prins

Nomi Prins

Nomi Prins, a former investment banker at Goldman Sachs, Bear Stearns and Lehman Brothers, is a senior fellow at the public policy organization Demos and the author of "Other People's Money: The Corporate Mugging of America."

 

Articles by this author

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Monday, February 1, 2016 - 8:30am
Democracy of the Billionaires
Speaking of the need for citizen participation in our national politics in his final State of the Union address , President Obama said, “Our brand of democracy is hard.” A more accurate characterization might have been: “Our brand of democracy is cold hard cash.” Cash, mountains of it, is...
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Monday, November 30, 2015 - 8:30am
The American Hunger Games
Fact: too many Republican candidates are clogging the political scene. Perhaps what’s needed is an American Hunger Games to cut the field to size. Each candidate could enter the wilderness with one weapon and one undocumented worker and see who wins. Unlike in the fictional Hunger Games for which...
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Thursday, October 1, 2015 - 9:30am
Trumpocrisy: How 'The Donald' Became a Billionaire and What That Means for the Rest of Us
The 2016 election campaign is certainly a billionaire’s playground when it comes to “establishment candidates” like Hillary Clinton and Jeb Bush who cater to mega-donors and use their money to try to rally party bases. The only genuine exception to the rule this time around has been Bernie Sanders...
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Tuesday, June 23, 2015 - 10:30am
All In with Jeb: The Bush Family Goes for Number Three (With the Help of Its Bankers)
[ This piece has been adapted and updated by Nomi Prins from her book All the Presidents' Bankers: The Hidden Alliances That Drive American Power , recently out in paperback (Nation Books). ] It’s happening. As expected, dynastic politics is prevailing in campaign 2016. After a tease about as long...
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Thursday, May 7, 2015 - 10:30am
The Clintons and Their Banker Friends
The past, especially the political past, doesn’t just provide clues to the present. In the realm of the presidency and Wall Street, it provides an ongoing pathway for political-financial relationships and policies that remain a threat to the American economy going forward. When Hillary Clinton...
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Thursday, December 19, 2013 - 8:30am
Volcker Rule Made Meaningless by Abundant Exemptions
The subject of heated debate in financial circles, the Volcker Rule, which was originally passed as part of the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act, was finally approved by regulators. It will begin taking effect in April 2014 with full compliance required by July 2015...
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Tuesday, November 9, 2010 - 9:27am
Wall Street Wins Again
The Republicans may have stormed the House, but it was Wall Street and the Fed that won the election. Regardless of party power plays and posturing, there are two constants that remain unaltered after the election. First, Wall Street will continue on with business as usual while shifting its campaign and lobbying dollars to the new winning team. And second, the Fed will keep on pretending to prop up the economy by buying more U.S. debt, thereby keeping interest rates low, the dollar weak and money cheap for the banking system to inhale.
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Friday, January 22, 2010 - 9:15am
Obama's Half-Baked Bank Reform
Seeing Paul Volcker, former Fed Chair and chairman of the Economic Recovery Advisory Board, lord over President Obama yesterday as he made his proposal to limit the scope and size of financial institutions, it was easy to imagine him saying "I told you so." Volcker, after all, has been a long time advocate of slicing up banks and prohibiting them from the majority of speculative activities.
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Thursday, December 3, 2009 - 9:24am
Ten Reasons Bernanke Should Hit the Road
If Ben Bernanke’s predecessor as Federal Reserve chairman, Alan Greenspan, could be dubbed the Maestro, Bernanke surely deserves to be called the Magician. His mastery of illusion and deflection is impeccable. Bernanke, who goes before the Senate Banking Committee on Thursday in a bid to be confirmed to a second term, still wants us to believe he “done good” by cleaning up the financial mess that was created on his watch. But here are 10 reasons Bernanke shouldn’t be reconfirmed:
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Tuesday, December 1, 2009 - 8:09am
Worse Than Enron?
Enron was the financial scandal that kicked off the decade: a giant energy trading company that appeared to be doing brilliantly-until we finally noticed that it wasn't. It's largely been forgotten given the wreckage that followed, and that's too bad: we may be repeating those mistakes, on a far larger scale.
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