When it comes to Wall Street, many of us suffer outrage fatigue and cynicism that nothing will ever be done to stop these abuses. The question is whether the unfolding Barclays scandal will provide enough energy to finally force a change.
The system that made Mitt Romney's fortunes at Bain Capital is the same one largely responsible for the greatest concentration of the nation’s income and wealth at the very top since the Gilded Age of the nineteenth century.
The main regulator of derivatives (bets on bets), wants to extend Dodd-Frank regulations to the foreign branches and subsidiaries of Wall Street banks. But JPMorgan CEO Jamie Dimon would greatly prefer this not happen.
MItt Romney offers a prescription for the ailing US economy that hews to Republican principles. But it also has some unorthodox differences. Well-off Americans could get fewer government benefits and pay more for Medicare.
JPMorgan Chase bank chief Jamie Dimon explained his bank's $2 billion trading loss to Congress, revealing a lesson in not being complacent about risk management – a difficult task in a complex world of diffuse risks.
Fairness isn’t inconsistent with growth; it’s essential to it. The only way the economy can grow and create more jobs is if prosperity is more widely shared.