The biggest banks have successfully — perhaps too successfully — staved off meaningful financial reforms.
The biggest banks have done an excellent job of delaying and undermining the Dodd-Frank financial overhaul law and staving off criminal investigations into wrongdoing. Maybe, just maybe, they’ve been too successful. Senators Sherrod Brown, Democrat from Ohio, and David Vitter, Republican from Louisiana, introduced a bill last week that
The Freddie Mac’s corporate offices are seen in McLean, USA. (Photo Pablo Martinez Monsivais/AP/file) Freddie Mac, the taxpayer-owned mortgage giant, made it harder for millions of Americans to refinance their high-interest-rate mortgages for fear it would cut into company profits, present and former Freddie Mac officials disclosed in recent interviews. In closed door meetings, two […]
Freddie Mac, the taxpayer-owned mortgage giant, made it harder for millions of Americans to refinance their high-interest-rate mortgages for fear it would cut into company profits, present and former Freddie Mac officials disclosed in recent interviews. In closed door meetings, two Republican-leaning board members and at least one executive
In this Sept. 25, 1998 file photo, provided by Domino’s Pizza, Thomas Monaghan, founder and chairman of Domino’s Pizza, Inc., left, and Mitt Romney, managing director of Bain Capital, Inc., sign an agreement for Monaghan to sell a «significant portion» of his stake in the company to Bain Capital, in New York. (AP Photo/Domino’s Pizza, […]
It was one of the "quickest big hits in Wall Street history," as the Wall Street Journal put it at the time. In 1996, an investment group including Bain Capital, the firm then run by Republican presidential candidate Mitt Romney, sold the consumer credit information business Experian to a British retailer, making a $500 million profit. Bain and
A man checks a stock exchange monitor in Milan, Italy, Monday, May 14, 2012. (AP Photo/Antonio Calanni) By Jesse Eisinger and Jake Bernstein As ProPublica has been detailing for two years, Wall Street banks and the hedge fund Magnetar worked together to build mortgage-backed deals that the hedge fund also bet against. The more than $40 […]
By Jesse Eisinger and Jake Bernstein As ProPublica has been detailing for two years, Wall Street banks and the hedge fund Magnetar worked together to build mortgage-backed deals that the hedge fund also bet against. The more than $40 billion of deals helped fuel the crash of 2008. Now, recently collected emails from bankers and a Magnetar