All Articles on Glass-Steagall

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Will the Democratic Nominee for 2016 Take on the Moneyed Interests?
It’s seed time for the 2016 presidential elections, when candidates try to figure out what they stand for and will run on. One thing seems reasonably clear. The Democratic nominee for President, whoever she may be, will campaign on reviving the American middle class. As will the Republican nominee...
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Wall Street’s Threat to the American Middle Class
Presidential aspirants in both parties are talking about saving the middle class. But the middle class can’t be saved unless Wall Street is tamed. The Street’s excesses pose a continuing danger to average Americans. And its ongoing use of confidential corporate information is defrauding millions of...
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Republicans and Wall Street Say to Hell With Protecting the Public!
Moyers' interview with MIT Economist Simon Johnson
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Democrats Gear Up to Battle Wall Street in the New Congress
Democrats appear to have learned some lessons from their 2014 mid-term whipping. Numerous analysts said the lack of a coherent Democratic message to address the problem of stagnating wages and a stumbling economy hurt the party, especially among lower-income voters. On election day, the AFL-CIO...
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EU Showdown: Greece Takes on the Vampire Squid
Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a " Cyprus-Style prolonged ban k holiday " if they "vote wrong." But they have been bullied for too long and are saying "no more."...
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The Battle of Our Time: Breaking the Spell of the Corporate State
In late 2010, political activist John Perry Barlow tweeted: “The first serious info-war is now engaged. The field of battle is WikiLeaks. You are the troops.” In the last four years, new insurgencies have arisen from cyberspace to participate in the battle against government corruption and secrecy...
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Wall Street Had a Merry Christmas. The New Year’s Still Up For Grabs.
They’re calling it a “Christmas gift” for Wall Street. Last week the Federal Reserve announced that it’s giving U.S. banks yet another extension on the “Volcker Rule” provision in the Dodd-Frank financial reform bill. As a result of this latest decision, banks won’t have to comply until mid-2017...
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Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives
The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend. Senator Elizabeth...
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Congress to Reinstate Taxpayer Subsidies for Reckless Derivatives Trading
The New York Times called it "a textbook Washington play: use a must-pass bill, on the eve of the holidays, as a vehicle for changing unrelated policies." The liberal Senator from Massachusetts, Elizabeth Warren, called it "the worst of government for the rich and powerful." The conservative...
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Wall Street’s Democrats
In Washington’s coming budget battles, sacred cows like the tax deductions for home mortgage interest and charitable donations are likely to be on the table along with potential cuts to Social Security and Medicare. But no one on Capitol Hill believes Wall Street’s beloved carried-interest tax...
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