Wall Street Gets It

I don’t know why people, even smart people, keep saying that bankers and the rest of the Wall Street crowd don’t get it. Dana Milbank, writing in The Washington Post, said it just the other week after Lloyd Blankfein, the Goldman Sachs chairman, testified...

Record Bank Profits and the American Dream Foreclosed

JP Morgan Chase launched the 2010 Wall Street Bonus Sweepstakes last month. The bank is still losing money on consumer services, but well-heeled investors and financial traders more than made up the difference. The bank announced $11.7 billion in profits and $26.9...

Robbing Grandma to Reward Wall Street

When I grew up in Texas, the dance we all learned was the Texas two-step. But times have changed. The next big dance these days could be called the Social Security double shuffle. A good number of senators are waltzing to the music of the “let’s cut Social...

Stop the Merger Merry-Go-Round, We Need to Get Off

What may be the dumbest corporate merger of all time—the $165 billion deal that saw AOL gobble up Time Warner a decade ago—ended just before the holidays, when AOL formally spun off into a totally separate company. That AOL-Time Warner merger had been a disaster for...