After the severe bank crash of 2008, in order to guard against future such crashes, Congress passed the Dodd-Frank law, which enacted regulations that the Senate would now weaken. The CBO says the “Bank Lobbyist Act” raises the risk of a banking system crash.
Haplocanthosaurus, where it belongs. Cleveland Museum of Natural History Since U.S. states abandoned their old laws that curb corporate power, many corporations have become dinosaurs — huge beasts that have outlived their time, but that keep on stomping through the…
In September last year, the Bush regime left behind its old refrain that “the fundamentals of the economy are strong,” and went to Congress for a quick $700B to bail out collapsing banks stuck with toxic assets.x60x61 Then-Treasury Secretary Henry…
The big news story of the past week was that New York Governor Eliot Spitzer had been patronizing prostitutes, and, in the glare of the media spotlight, quickly gave up his office.x40 But evidence points to a bigger story —…