Two Decades of Wall Street Greed

http://www.lewrockwell.com/quinn/quinn30.1.html

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Why Wall Street's Generous to New Democrats in House

David Lightman and Kevin G. Hall | McClatchy Newspapers: "Members of the powerful New Democrat Coalition in the House of Representatives are among the top Democratic recipients of Wall Street campaign money this election cycle - and also among the most vocal advocates for weakening a plan to regulate complex financial instruments called 'derivatives' that helped fuel the near-collapse of the economy in 2008."

http://www.truth-out.org/why-wall-streets-generous-new-democrats-house60572

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Why Wall Street's generous to New Democrats in House

Members of the powerful New Democrat Coalition in the House of Representatives are among the top Democratic recipients of Wall Street campaign money this election cycle - and also among the most vocal advocates for weakening a plan to regulate complex financial instruments called "derivatives" that helped fuel the near-collapse of the economy in 2008.

http://www.miamiherald.com/2010/06/18/1688815/why-wall-streets-generous-to-new.html#ixzz0rLEGxKTF


From Information Clearing House

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The bank lobby: Desperate on derivatives

Our Future Blog
by Zach Carter

06/23/10

Astonishingly, as Wall Street reform enters its final hours a tired, generic corporate refrain against regulation is gaining traction. As bigwig bankers and their lobbyist brethren fight to defeat tough new rules on derivatives — the crazy casino that brought down AIG — all their sloganeers can come up with is the trite wail that serious rules will send this risky business overseas. It’d be funny if members of Congress weren’t taking it seriously. ‘Oh no; the business will go overseas!’ is the last-ditch, we’re-about-to-lose-this-one cry of despair for corporate executives in every industry. Crack down on a profitable abuse in the United States, and the entire business will move to London or Mumbai, sending jobs and tax revenue abroad — or so the argument goes. You only hear this line when CEOs know they have no case, and have to divert attention away from the real substance of the policy debate...

http://tinyurl.com/334hvj7



Battling the banksters

The Nation
by William Greider

06/30/10

Hold the applause. The president would like us to celebrate his ‘Wall Street reform,’ but the legislation is misnamed. Barack Obama did not set out as president to reform Wall Street in fundamental ways but to restore it. Judging by the largest banks’ booming stock prices and executive bonuses, he appears to have succeeded. The leading bankers expressed relief when they saw the reform package Congress cobbled together on June 25. Wall Street, loathed by citizens everywhere, dodged the bullet in Washington. Congress followed Obama’s path and rejected the sterner measures that promised to actually change things. As with healthcare reform, the White House, joined by the Treasury and the Federal Reserve, spent much of its energy opposing more aggressive ideas or bargaining small-bore compromises. The president kept a low profile, saving himself for the victory celebration...

http://www.thenation.com/article/36905/battling-banksters


Informant: Thomas L. Knapp

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Fighting Back Against the Banksters
http://www.commondreams.org/view/2010/08/04-2



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