Would Re-establish Key Provisions of the Glass-Steagall Act—Limiting Risk Taking by Commercial Banks, Requiring Investment and Insurance Spin-offs, Ending Era of 'Too Big to Fail' Washington, DC — Today, Senators Cantwell (D-WA) and McCain (R-AZ) introduced the Banking Integrity...
As Congress Takes Up Sweeping Financial Reform, Report Urges Fundamental Change of Ratings Agency Model Washington, DC — With the House of Representatives and a key Senate committee poised to vote on sweeping financial industry reforms, a new report by Demos finds that the proposed remedies...
Ten years ago last November, a Republican-led Congress and a Democratic White House rolled out the red carpet for a new age of global, “full service,” too-big-to-fail financial institutions. The move repealed the Glass-Steagall Act of 1933, a set of reforms responsible for the longest crisis-free...
Ten years after the capstone of financial industry deregulation — the Financial Modernization, or Gramm-Leach-Bliley, Act — the United States is facing the worst economic crisis since the Great Depression. The following policy brief outlines six key principles for comprehensive and meaningful...
Reform Agenda Should Limit Speculative Investment Activity by Banks, Preventing Risk-taking from Undermining Household Economy Washington, DC — Ten years ago this Thursday, a Republican-led Congress and a Democratic White House ushered in an era of global, "full service," too-big-to-fail...
Washington, DC — Today, thousands of Americans are gathering on the streets of Chicago to march against financial service industry excess that has cost the American taxpayers trillions of dollars, destabilized the economy and undermined the stability of millions of US households. In response...
Last week, Goldman Sachs released its second-best set of quarterly earnings ever, putting the firm on track to paying its highest bonuses ever. Reacting to suggestions that this was somehow wrong, Goldman Sachs Chief Financial Officer David Viniar said, "We are focused on the economic climate. We...
Treasury Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke have announced that the recession is over. Now that the Dow Jones Industrial Average has broken the 10,000 mark, we'll surely be hearing assurances that economic growth is here to stay. But the credit markets are in much...
Visit msnbc.com for breaking news, world news, and news about the economy MSNBC's Morning Meeting
Banks are gouging cash-strapped consumers with record high-interest rates, with a quarter of consumers paying rates over 20%. Lou Dobbs Tonight