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Despite near-record levels of economic inequality, many politicians and pundits still don't think this widening chasm is much of a problem in a country supposedly dedicated to egalitarian ideals. Inequality, the logic goes, is a natural result of different degrees of work and creativity. Some people

For all the talk about the need for voter-identification laws, you’d think millions of Americans were impersonating dead people to get their candidates elected, or casting multiple ballots after breakfast, lunch, and dinner. Not even close.

Without your consent, approval, or even awareness, large for-profit credit reporting companies know an awful lot about you. TransUnion, Experian, Equifax and their smaller competitors know the credit limit on your AmEx card, how much you still owe in student loans, and all about that time you made

One of the big questions environmentalists struggle with is whether there should be a price on nature. For some things, like the cost savings that are realized through cleaner air or water, there is a rote calculation that can be done to price out environmental and health benefits. But, if you think

David Callahan posted a terrific blog yesterday that outlined HSBC’s outrageous behavior as catalogued in a 350-page report by the Senate’s Permanent Committee on Investigations.

Today we got a concrete sense of why, exactly, the banks fought so hard to kill the Consumer Financial Protection Bureau: Because, among other things, this is an agency that can slap the banks with huge fines and force them to alter their business practices by legal fiat.

Tonight, critical legislation that would shine a light on the dark money dominating our democracy was defeated on the Senate floor. To be clear, it received a majority of votes, but failed to overcome a filibuster from Senator McConnell.

After years of scandals and abuses, it's hard to be surprised by the criminal behavior of major banks. Typically, though, exposes of bank wrongdoing have focused on their financial shenanigans. But yesterday, thanks to the dogged work of Senate investigators, we learned that the criminality of some

At a campaign stop in Ohio yesterday, President Obama said the following:

What does the acronym, “LIBOR,” stand for? The “London Inter-bank Offered Rate.” What does LIBOR represent? LIBOR is promoted as representing the average interest rate that large banks can borrow from one another. LIBOR is not the interest rate on any single loan. Rather it is an index intended to