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Wall Street’s Favorite Senator

He’s Democrat Cory Booker of New Jersey. [Booker]“received $1.87 million from the securities and investment industry, making him the top recipient of Wall Street money this election cycle,” NPR reports. “Booker also received more money from real estate groups than any other member, as well as more from the entertainment and tech industries, accountants, and […]

How The Rich Get Away With It

This is a depressing story about Paul Bilzerian, convicted securities fraudster: But 25 years after Mr. Bilzerian became a Wall Street felon, the Securities and Exchange Commission is quitting the fight, winding down its quest to collect a $62 million civil judgment against him for securities fraud. The tally from a court-appointed SEC receiver: about […]

Eric Cantor may have lost his job as House Majority Leader but he’s gained employment with the Wall Street firm Moelis & Co., the firm announced on Tuesday. The firm will be based in the New York office of the global company and will soon open an office in Washington. Politico reports: “Eric has proven […]

Robert Reich points out that Wall Street banks are helping to prop up Vladimir Putin and asks the question: “Is there anything Wall Street banks won’t do to make more money?” Hidden behind economic sanctions against Russia is the role of Wall Street banks in propping up Putin. Morgan Stanley, for example, earned an estimated […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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