The key question after yesterday's Swiss-bank hearings.
The Scientology advertorial that ran on Atlantic.com was embarrassing and sloppy, but was it unethical?
Hardly anything could have been more damaging to Mitt Romney’s perpetual quest to relate to the average American than the recent revelations in Vanity Fair that he maintains personal finances in a sophisticated network of institutions across Europe and North America. Among the entities that Romney relies upon is a limited liability corporation in Bermuda and a “blocker” entity in the Cayman Islands.
Bloomberg has an absolutely terrific piece of reporting out today about how the big banks have mobilized to water down the Volcker Rule—the reform measure designed to prevent federally-backed banks from placing bets for their own bottom line. Here’s the gist: To make their case in Washington, banks and trade associations have been pressing a coordinated campaign to get regulators from five federal agencies to scale back the draft of the proprietary-trading rule issued in October, according to public and internal documents and interviews.
Of all the different industry groups scrambling to shape climate policy in Washington--from electric utilities to Detroit automakers--one stands out as a bit unexpected: Wall Street. Financial giants like Goldman Sachs and JP Morgan have enlisted, all told, more than 100 lobbyists to roam the Capitol and influence the debate over how to curb greenhouse gases. There’s a reason for that: Any cap-and-trade bill that puts a limit on emissions and allows polluters to buy and sell permits will create a vast carbon market.
Sitting in her lawyer's office at South Brooklyn Legal Services, her hands folded calmly in her lap, Sandra Barkley describes how she became the first person in her family to buy a home. The 52-year old single mother begins by speaking in a relaxed southern drawl, but as she comes to recount her experiences more fully, her voice rises, and her cool breaks. In the winter of 2002-2003, an acquaintance of Barkley's put her in touch with United Homes, a New York City-based company that specialized in fixing up and reselling homes purchased at foreclosure auctions and distress sales.