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Wall Street Republicans Would Be Happy With Hillary

Wall Street Republicans Would Be Happy With Hillary

This will not sit well with Democratic primary voters, and is one of the driving forces behind the effort to get Elizabeth Warren to run. Politico reveals how Wall Street likes Chris Christie and Jeb Bush, but if neither of them run, or even if they do and lose to Hillary Clinton, big business will [...]

Establishment Republicans Desperate To Find Viable Contender

Top Republicans are desperately trying to find a replacement for Chris Christie, who was the leading choice of Wall Street and the moneyed right to take the GOP presidential nomination in 2016. Christie was the early favorite. More than half a dozen billionaire investors, including hedge-fund managers Paul Singer and Daniel Loeb, had rallied around [...]

Filibuster Reform Will Help Regulate Wall Street

From Ryan Cooper in the WaPo: With Democrats on the D.C. Circuit Court, the rules in the Dodd-Frank financial reform bill (both existing and ones yet to be finalized) will have a much greater chance of surviving frivolous court challenges. The success of financial regulation is crucial to the success of the Democratic Party in [...]

JPMorgan Chase Faces Criminal Charges On Madoff Scam

Did JPMorgan Chase create Bernie Madoff and his ponzi scheme? No, they didn’t. But if Preet Bharara, U.S. attorney here in New York City, gets his way — and he just might — the bank will be forced to admit criminality in not reporting its suspicions about Madoff well before the fraudster was officially discovered [...]

Elizabeth Warren Isn’t Playing, Drops Hammer

Senator Elizabeth Warren (D-MA) is not just the serial tormentor of Wall Street (with good reason, certainly); she hates incompetence and complicity wherever it lies. And now, she’s going after the federal agencies who should be tossing Wall Streeters in the pokey for their deeds leading up to the financial crisis, but are instead happy [...]

Sell, Sell, Sell: Greenspan Is Bullish On Stocks

The Dow is up well over 100% since Barack Obama took office. Nowadays, there is constant hand-wringing among financial types, worries that QE and other sustained policies have created a bubble in equities. In other words, there’s a sell-off coming, and it’s going to be non-trivial. Enter Alan Greenspan, whose economic prognostications over the last [...]

BREAKING: Bank Of America Guilty of Fraud

This afternoon, Bank of America was found liable for fraud, for actions taken by its Countrywide mortgage unit. The conviction stems from a system at Countrywide called “Hustle”, wherein flimsy mortgage packages were sold to Fannie Mae and Freddie Mac. The bank was convicted on one charge of civil fraud. Penalties are not yet known, [...]

Venture Capitalists to CNBC: Obamacare is a Godsend

Lost in the funhouse rhetoric of anti-ACA fanatics is an irrefutable fact; lots of aggressive capitalists, hardly the sort to embrace socialism, are going to make a mint from the law’s proliferation. Over at CNBC, Cadie Thompson corrals a sampling of mercenary sugar-daddies (and mommies), and discovers that the venture community can’t believe its good [...]

Self-Destructing FreedomWorks Shows Why It’s Self-Destructing

We’ve seen persuasive reports that FreedomWorks, the Tea Party advocacy group best known for frittering away millions of dollars on crucial initiatives like high-rolling Las Vegas entertainment and sponsorship of Glenn Beck’s The Blaze, is in danger of imminent bankruptcy. Certainly FreedomWorks’ financial troubles aren’t related to the acumen of its management. Of course not, [...]

Wall Street: GOP Antics Tanking Economy

First, the good news: A Federal Reserve report on economic conditions released Wednesday offered a cautiously optimistic outlook. Consumer spending is up, car sales continue to be strong, business spending and payrolls are rising, manufacturing activity is growing, the travel and tourism sector has expanded in most areas, and residential construction is continuing to increase [...]

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