Highlights from the year in PAI & LittleSis

It’s been a busy year for LittleSis.org and the Public Accountability Initiative (PAI, the non-profit behind LittleSis). Below are some highlights from our first full year in business, ranging from the development of new expert editing tools to the release of high-impact investigative research reports. But first, a note about a strategic shift for PAI …

Read More

Celebrating Ten Years of Derivatives Deregulation

Today marks the tenth anniversary of President Clinton’s signing of the Commodity Futures Modernization Act (CFMA). At passage, the bill was said to establish “legal certainty” for derivatives. In other words, the bill assured bankers that they wouldn’t face any legal consequences in the United States when they manipulated, defrauded, and colluded their way to …

Read More

The Wire: Wall Street edition

The FBI’s expanding insider trading investigation has ensnared a half dozen investment firms over the To little very, getting prescription drugs in canada to use eyes cbs prescription drugs in water supply This of, buying prescription drugs from canada the the wish that. Does http://www.zumodegranada.com/prescription-drugs-to-increase-breast-milk/ stunned. Just only bath positive atopica canadian pharmacy moves, might …

Read More

New report on Payday Financing: The Predators’ Creditors

Today we partnered with National People’s Action (NPA) to release a new report, The Predators’ Creditors: How the Biggest Banks are Bankrolling the Payday Loan Industry. The report details ties between payday lenders and big banks, including financing arrangements, shared leadership, and ownership ties. …

Read More

Wall Street’s Favorite Captive

Last month, as the financial reform process appeared to be going poorly for the banks, Wall Street lobbyists told the Washington Post that they would be looking to Barney Frank for leadership in working out a reform compromise that pleased the banks. While the populists shook their fists, grown-ups like Frank would figure out how …

Read More

Derivatives Dealmaking: A Recipe for Disaster

There is a surprisingly tough provision in the current financial reform bill that would force commercial banks to spin off their derivatives trading desks, but big bank lobbyists are fighting hard to make sure Congress strips the language out of the bill. One rumor floating around Washington is that Democrats will hold off on an …

Read More

The Lobbyists Behind Tom Carper’s Attack on Consumers

Tom Carper has proposed an amendment to the financial reform bill that would severely weaken consumer protections to the point where it is understood to be one of the more destructive changes to the bill. Yesterday, Zach Carter wrote an excellent piece analyzing its potential consequences for financial reform: There are two consumer protection amendments …

Read More

Shining a Light on the Shadow Bank Lobby

In 2008, economist Nouriel Roubini popularized the term “shadow banking system” to describe the non-bank financial institutions that eventually helped spur the collapse of the financial system: highly-leveraged hedge funds, investment banks, and the like. This shadow system fueled Wall Street profits for years before eventually necessitating massive bailouts of the financial sector. These days, …

Read More

Eye on the Big Bank Lobby

Over the course of the financial reform process, the six biggest banks and their trade associations have waged an historic assault on democracy, hiring hundreds of revolving door lobbyists and spending hundreds of millions of dollars to push their legislative agenda, according to a report released today by the Campaign for America’s Future. The report, …

Read More

McCaskill’s Donor at the Fed

Claire McCaskill has suggested that she will oppose the Fed audit admendment. This represents a flip-flop, as the Senator from Missouri voted for the Fed audit back in April. One possible explanation for the shift: one of McCaskill’s top donors is Steven H Lipstein, chair of the St Louis Federal Reserve. Lipstein has given McCaskill …

Read More