After a marathon hearing that wrapped up in the wee hours of Wednesday morning, the City Council of Richmond, Calif., voted to allow the use of eminent domain to seize underwater mortgages, becoming the first city in the nation to take such a concrete step toward the novel and risky strategy for

President Obama met with the nation’s top financial regulators last week, to urge for rulings associated with the Dodd-Frank Wall Street Reform law passed more than three years ago. It was the first time the president convened a sit down with each regulator since 2011. According to a White House

On Friday, Paul Krugman dealt with financial market price bubbles, focusing specifically on emerging markets. He takes on the issue of bubble creation as a result of aggressive Fed loose money policy of the recent past. He correctly points out that the emerging markets situation is really one of a

The post-recession party line at the American Bankers Association (ABA) is something like, “Hey Jane/Joe Briefcase. We're just as mad at gosh darn Wall Street as anyone. But only some bankers are evil. A lot of us are honest and work hard, just like you.” Maybe. But this isn’t a reason to lose track

The huge trading losses suffered by JP Morgan last year—and the cover-up of those losses—stand as just one example of that giant bank's long record of excess, criminality, and deception. And when you think of who should be held accountable for the London Whale fiasco, one name comes to mind. It's a

The National Center for Missing and Exploited Children (NCMEC) has, ironically, found that exploiting children turns a profit. It has been doing so since its creation in 1984 under Ronald Reagan, who created the quasi-governmental agency. It enjoys liberal funding from the Department of Justice and

Picking a new chairman of the Federal Reserve may be the most important nomination a president can make. The next Fed chair will play an instrumental role in determining the future trajectory of America’s straggling recovery, and determining how financial regulation gets implemented.

It is a myth that we are helpless to do anything about the state of the economy.

How financial market practices not only risk catastrophic systemic failure like 2008, they constitute a massive extraction of value from the real economy by the financial sector.

Financial markets, now heavily dependent on technology, need to be safeguarded against cyberattacks, natural disasters and the more prosaic scourge of human error that can cause massive disruptions, according to experts and a federal panel.