Why Conservatives Want to Break Up the Banks, Too
March 16, 2013
Why conservatives want to break up the banks, too.
What We Mean When We Say “Bids Wanted in Competition.”
February 26, 2013
What we mean when we say, “Bids Wanted in Competition.”
Your New Landlord Works on Wall Street
February 12, 2013
Hedge funds are snatching up rental homes at an alarming rate—and a new bubble may be forming.
The Trouble with Wall Street
February 04, 2013
Twenty five years ago I quit a job on Wall Street to write a book about Wall Street.
Why Brandeis Matters
June 29, 2010
Louis D. Brandeis: A Life By Melvin I. Urofsky (Pantheon, 955 pp., $40) I. In 1916, Herbert Croly, the founder and editor of The New Republic, wrote to Willard Straight, the owner of the magazine, about the Supreme Court nomination of Louis Brandeis. Croly enclosed a draft editorial called “The Motive of Class Consciousness,” and also a chart prepared by a lawyer in Brandeis’s office showing the overlapping financial interests, social and business connections, and directorships of fifty-two prominent Bostonians who had signed a petition opposing Brandeis’s nomination.
June 17, 2010
Did Obama just dump his best friend on Wall Street?
The Rise Of Naderite Conservatives
May 04, 2010
Conservatives continue to insist that stepped-up financial regulation is actually a huge favor to Wall Street. Here's the normally-sensible Christopher Caldwell in the Weekly Standard: [E]very time the president accuses Republicans of trying to “block progress” or of defying “common sense,” as he did that night, he is executing a dangerous tightrope walk. His party’s electoral fortunes depend on his making forceful calls for reform of our banking laws.
Should We Care About the "Big" in "Too Big To Fail"?
November 10, 2009
Oftentimes when you debate a skeptic of structural reform on Wall Street, the skeptic will say something like: "Why are you so worked up about 'too big to fail'? Lehman was far from the biggest bank on Wall Street, but it caused plenty of damage." If anything, "too-interconnected-to-fail" is the real issue, they'll say--implying that this makes addressing the problem utterly futile, since severing interconnections is a lot harder than limiting bank size. In my experience, this can temporarily wrong-foot you long enough for the other person to seize the rhetorical advantage.
Mike Huckabee Makes Up With the Economic Right
November 09, 2009
... or not. In the Ben Smith piece Mike cited earlier, Huckabee has some choice words for Pat Toomey: Huckabee met in the spring with Pat Toomey, then the president of the Wall Street-backed Club for Growth, which had attacked him during the 2008 campaign for raising taxes in Arkansas. “It wasn’t very productive,” he said of the meeting. “I realized then that these guys are just what I thought they were — they’re pay for play, and they do it anonymously on behalf of people who don’t want to be known as the funders of these hit operations.
The Great Recession and Inequality
November 06, 2009
Amid the dark clouds of the Great Recession, more than a few people have identified a possible silver lining--reduced inequality in America. Job losses on Wall Street, and talk of reining in executive pay and raising taxes on the wealthy, suggest at least a temporary end to rapid growth of salaries at the highest end of the market--a trend which produced the highest share of income on record for the nation’s top 10 percent of families in 2007. But this is short-term thinking at best.