DOJ-JPMorgan settlement was negotiated by former WaMu attorney

The final terms of JPMorgan’s mortgage fraud settlement with the Department of Justice was announced yesterday. It is not all that it is cracked up to be, but that has not stopped reporters from touting the deal as a record settlement and the result of a tough negotiation. One particularly extreme example is the front …

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Who’s who at Cuomo’s Buffalo fundraiser

Andrew Cuomo is in Buffalo today for a $1000-per-head fundraiser that is expected to raise $500,000 for the governor’s war chest, which at $28 million is much, much larger than that of any other gubernatorial candidate in the country. Cuomo will be met by an anti-fracking protest. …

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Geithner does the Rubin Shuffle

The cooling-off period is over for former Treasury Secretary Tim Geithner, who is joining the private equity firm Warburg Pincus as president and managing director. Geithner had initially joined the Council on Foreign Relations as a senior fellow after leaving the Treasury Department early this year. He had taken several plum speaking engagements at Wall …

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Stink Tanks Exposed

This week the Center for Media and Democracy released a new report exposing the corporate backing and extreme right wing agenda of the State Policy Network, a coalition of state policy think tanks. The inspiration for the organization came from Ronald Reagan, who suggested to South Carolina businessman Thomas Roe that there should be organizations …

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Who funds the suicide caucus?

The shutdown prompted some interesting analyses of the ascendant right-wing fringe. Tom Lind, Doug Henwood, and Bill Black have all weighed in with takes on the country’s bizarre political dynamic, and certainly there is more to come. One way to gain some more insight into what’s going on: follow the money and look at where …

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JPMorgan negotiates through the revolving door

It is quickly becoming clear that JPMorgan’s tentative $13 billion settlement with the Department of Justice is not the massive, overly-punitive sanction that some press reports have made it out to be. The weaknesses in the deal may be explained in part by the fact that in arranging the settlement, JPMorgan was negotiating through the …

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Dudley’s daybook goes dark

In the wake of a report from ProPublica that the New York Fed fired a senior bank examiner for challenging inadequacies in Goldman Sachs’ management of conflict of interests, I thought it would be interesting to take a look at the daily schedules of the New York Fed’s president, William Dudley, a Goldman alum. Dudley …

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The Committee to Frack New York?

New York State governor Andrew Cuomo has gotten a major assist during his first year and a half in office from an outside lobbying group known as the Committee to Save New York, a coalition of corporate elites that advocates for austerity policies and specializes in taking to the airwaves to heap praise on the …

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The Summers “Aura of Wrongness”

Larry Summers, former Obama economic adviser and a leading candidate for World Bank president, neatly sums up the problem of regulatory capture in Washington, reflecting on his time at the Clinton Treasury: It was the practice of the Treasury to take advice from investment banks on bond market issues from others with a stake in …

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