Goldman Sachs

The End Of The Affair
December 08, 2011

Jon Corzine's testimony before the House agriculture committee may mark the definitive end to the Democratic party's love affair with Wall Street. Once upon a time, Wall Street bankers were Republicans. Not terribly ideological, they preferred whenever possible a minimum of taxation, regulation, and government in general, but they didn't make a fetish of it. As the GOP moved right starting in the mid-1960s the east coast Republican establishment began to crumble, and by the late 1980s it was mostly gone.

Why the SEC Will Soon Be Prosecuting More Cases Against Big Banks—And Losing
December 01, 2011

On Monday, a single, ringing court decision gave hope that Wall Street will finally be held to account for its role in causing the financial crisis. Federal District Court Judge Jed Rakoff’s opinion may soon force the SEC, the federal government’s investment regulator, to take big banks to court, rather than continuing to come to terms with them in out-of-court settlements.

How Lobbyists Are Undermining Dodd-Frank: A Case Study
October 06, 2011

On October 18 the Commodity Futures Trading Commission (CFTC) will vote on a proposed rule to limit the percentage of contracts in a given commodity that any individual trader can own.

The Republican Theory of Our Current Economic Woes
July 18, 2011

[Guest post by Matthew Zeitlin] According to both Republican politicians and conservative opinion-writers, the problem with our economy is not a shortfall of demand. If they thought this was the problem, you would not see the calls for massive reductions in spending right now, you would not see Paul Ryan describing a payroll tax holiday as a “sugar high,” and you would not see Fred Barnes totally dismissing stimulus as a way to grow the economy. Problem being, as Jon has pointed out before, everyone from Ben Bernanke to Goldman Sachs thinks that large, immediate cuts would retard growth.

Stop Blaming Wall Street
July 14, 2011

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Stop Blaming Wall Street
July 13, 2011

As the U.S. economy fails to recover, there is a growing fear that the United States has entered a phase of long-term decline. Conservatives blame “big government” for throttling entrepreneurship; liberals tend to take aim at Wall Street.

Tim Geithner: Why He’s Hurting the Economy and Obama
June 08, 2011

Secretary of the Treasury Timothy Geithner deserves some of the blame for the administration’s political problems during its first two years and for the weakness of financial reform. In 2009, Geithner argued against the administration throwing the full weight of the law against those banks and bankers, and related institutions, that had committed fraud. Doing so would have erased or at least countered the impression that the Obama administration was a tool of Wall Street.

Is Goldman Sachs On the Take?
February 24, 2011

A Goldman Sachs study found that the House Republican plan to cut the budget would cause slower economic growth. National Review's Lou Dolinar waxes populist: Speaking of crony capitalists in bed with the administration, Goldman Sachs continues to clarify the “Too Big To Fail” issue I wrote about yesterday. Witness its release of a “study” today... Goldman Sachs is one of President Obama’s strongest backers, second perhaps only to JPMorganChase.

The Escape Artist
February 10, 2011

How Timothy Geithner survived.

2011--The Year of the U.S. Economic Comeback?
January 14, 2011

Jim O’Neil, an economist at Goldman Sachs and the man who coined the acronym “BRICs” (standing for Brazil, Russia, India, and China) and thereby promoted those countries to the forefront of U.S. and European consciousness, is now saying that the year 2011 is “the year of the U.S. comeback.” Now, it’s true, analysts at investment banks make a lot of lousy predictions. And as our last “MetroMonitor” showed and as everyone in touch with reality already knows, the U.S. economy is still struggling.

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