Financial Reform
J.P. Morgan’s loss is Dodd-Frank Act’s gain (The Business Journals)
May 13, 2012
By Kent Hoover Memo to Jamie Dimon: Thanks for your leadership in pointing out the flaws in the Dodd-Frank Act, but your services are no longer needed. That’s probably what opponents of the financial reform legislation are thinking after Dimon’s J.P. Morgan Chase reported a $2 billion loss from trades meant to hedge the megabank’s [...]
JPMorgan’s $2B mistake aids those seeking stronger rules (USA Today)
By Adam Shell, Matt Krantz and John Waggoner JPMorgan Chase’s $2 billion blunder not only fanned the fires of tighter bank regulation, it led Monday to the resignation of the bank’s chief investment officer, Ina Drew. Those fighting for stricter rules to curb excessive risk-taking by big U.S. banks now have 2 billion more reasons [...]
Are megabanks too big to manage? (CNN Money)
May 11, 2012
By Jennifer Liberto WASHINGTON (CNNMoney) — JPMorgan Chase’s $2 billion hedging blunder is adding fuel to those who think the megabanks are just too big. JPMorgan Chase (JPM, Fortune 500) is in no danger of failing, thanks to much larger capital cushions mandated by the Dodd-Frank Act. But its mistake could have outsized repercussions in [...]
Chase’s $2 Billion Trading Loss Bolsters Calls for Regulation (In These Times)
By Lindsey Kratochwill JPMorgan Chase’s disclosure yesterday that it has lost $2 billion in the last six weeks through a failed hedging strategy has sparked renewed calls for tougher financial regulation. Senator Bernie Sanders (I-Vt.) released a statement today calling the loss a debacle that needs to be prevented by breaking up the power of [...]
Bernie Sanders to Banks: It’s Time to Break Up (Bloomberg News)
By Sophia Yan Washington’s anti-Wall Street crowd just got really, really lucky. JPMorgan Chase & Co.’s announcement yesterday of a $2 billion trading loss from a steep bet it made is giving congressmen like Senator Bernie Sanders a renewed boost in their crusade against big banks. Sanders is taking JPMorgan’s slipup to “reaffirm” his view to Americans that the [...]
Here we go again (MSNBC)
Watch Bernie talk about fighting Wall Street greed on MSNBC’s Ed Show.
“I think the lesson to be learned here is that these guys have learned nothing since their greed & recklessness & illegal behavior drove this country into the worst recession since the 1930s, causing so many people to lose their jobs & their homes & their savings. These guys have learned nothing.”
Audio: Welch, Sanders Rally Around Student Loan Issue (VPR News)
May 9, 2012
Current and former college students in the U.S. now owe more than $1 trillion in student loan debt. And interest rates on federally-subsidized Stafford Loans are set to double on July 1st, from 3.4 to 6.8 percent, unless Congress takes action. Vermont’s congressional delegation is speaking out against the planned rate increase. On Tuesday, Senate [...]
May 8, 2012 No Thanks Close The Daily Caller Social Experience Let your friends help you discover the best news, features and videos on TheDC. Publish what you read and maintain full control. Login with Facebook Subcommittee to consider bills to end or amend the Fed (The Daily Caller)
May 7, 2012
By Michael Bastasch A House subcommittee is scheduled to hold a hearing on proposals to reform or end the Federal Reserve System, Texas Republican Rep. Ron Paul announced last Friday. The Domestic Monetary Policy and Technology Subcommittee will hear testimony from economists and lawmakers Tuesday morning on Capitol Hill. “More and more people are beginning [...]
Bernie talks about Senate block of “Buffett Rule” bill (MSNBC)
April 18, 2012
On MSNBC, Bernie talks about the recent defeat of the “Buffett Rule” in the Senate.
“I think our Republican colleagues here are pretty much wedded to a marriage with the wealthiest people in this country & the largest corporations and they’re doing their best to protect those interests. I think that that is really unfortunate and I don’t think that’s what the American people want.”
Power to the shareholders: Bernie Sanders cheers Citigroup CEO salary backlash (CurrentTV)
Bernie talks with CurrentTV’s Eliot Spitzer about Citigroup’s shareholders’ rebuke of outrageous CEO pay.
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