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Wall Street Topics

Democracy Now! stories, posts and pages that relate to Wall Street

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  • Creditsuisseflickr.comdalenapier
    European banking giant Credit Suisse has pleaded guilty to helping American clients avoid paying taxes by concealing assets in illegal, undeclared bank accounts — becoming the largest bank to plead guilty to a criminal charge in 20 years. As part of the plea deal, Credit Suisse will pay about $2.6 billion in penalties and hire an independent monitor. But the bank will not be required to turn over the names of the Americans who used the...
    May 20, 2014 | Story
  • Matttaibbi
    Award-winning journalist Matt Taibbi is out with an explosive new book that asks why the vast majority of white-collar criminals have avoided prison since the financial crisis began, while an unequal justice system imprisons the poor and people of color on a mass scale. In "The Divide: American Injustice in the Age of the Wealth Gap," Taibbi explores how the Depression-level income gap between the wealthy and the poor is mirrored by...
    April 15, 2014 | Story
  • 978-0-8129-9342-4
    Read part of "The Divide: American Injustice in the Age of the Wealth Gap," by Matt Taibbi, who joined us to examine one of the "greatest challenges we face in contemporary American life: surviving a system that devours the lives of the poor, turns a blind eye to the destructive crimes of the wealthy, and implicates us all."
    April 14, 2014 | Web Exclusive
  • Rentalhouselandgrab
    The Blackstone Group, a private equity firm, is now the largest owner of single-family rental homes in the country. In one day alone, Blackstone bought up 1,400 houses in Atlanta. And as private equity firms gobble up huge swaths of the housing market, they are partnering with big banks to bundle the mortgages on these rental homes into a new financial product known as "rental-backed securities," reminiscent of the...
    April 10, 2014 | Story
  • Allpresidentsbankerscover
    Read an excerpt of "All the Presidents’ Bankers: The Hidden Alliances that Drive American Power," by reporter, Nomi Prins, who joined us Tuesday to discuss the hundred-year interdependence between the White House and Wall Street.
    April 07, 2014 | Web Exclusive
  • Wallstreet
    With U.S. inequality at its highest point since 1928 and Wall Street bonuses hitting pre-2008 levels, we look at the 100-year history of secret collusion between Washington and the financial industry. In her new book, "All the Presidents’ Bankers: The Hidden Alliances that Drive American Power," financial journalist Nomi Prins explores how a small number of bankers have played critical roles in shaping a century’s worth...
    April 08, 2014 | Story
  • Homeless1
    The Dow Jones Industrial Average and the S&P 500 both hit record highs on Thursday while the NASDAQ surged to its highest level in over 13 years. The year-end rally is expected to add a boost to the massive bonuses Wall Street is preparing to hand out this year. The largest Wall Street firms have reportedly set aside more than $91 billion for year-end bonuses. In response, an activist group called The Other 98% has launched a petition...
    December 27, 2013 | Story
  • Detroitprotests1
    A federal judge has approved Detroit’s bid to qualify for bankruptcy, putting the city on a path to financial recovery — but threatening the livelihoods of thousands of city workers. In a landmark decision that could harm retiree benefits nationwide, Federal Judge Steven Rhodes ruled that federal bankruptcy law can override state laws that protect public pensions. That clears the way for Detroit to make major cuts to the health and...
    December 04, 2013 | Story
  • Foreclosure2
    In the largest banking settlement in U.S. history, the banking giant JPMorgan Chase is set to pay a record $13 billion fine to settle investigations into its mortgage-backed securities. Five years ago, the bank’s risky behavior helped trigger the financial meltdown, including manipulating mortgages and sending millions of Americans into bankruptcy or foreclosure. JPMorgan’s preliminary settlement with the U.S. government may end up...
    October 28, 2013 | Story
  • Taibbi2
    In his latest article for Rolling Stone, Matt Taibbi reports that Wall Street firms are now making millions in profits off of public pension funds nationwide. "Essentially it is a wealth transfer from teachers, cops and firemen to billionaire hedge funders," Taibbi says. "Pension funds are one of the last great, unguarded piles of money in this country, and there are going to be all sort of operators that are trying to get their...
    September 26, 2013 | Story