Wall Street Topics

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

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  • 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
  • Peterson_pyramid
    With $85 billion across-the-board spending cuts, known as "the sequestration," set to take effect this Friday, a new investigation reveals how billionaire investors, such as Peter Peterson, have helped reshape the national debate on the economy, the debt and social spending. Between 2007 and 2011, Peterson personally contributed nearly $500 million to his Peter G. Peterson Foundation to push Congress to cut Social Security, Medicare...
    February 26, 2013 | Story
  • Thumbjacklew
    Former bank regulator William Black and Rolling Stone’s Matt Taibbi join us to dissect the career of Jack Lew, President Obama’s pick to replace Treasury Secretary Timothy Geither. Currently Obama’s chief of staff, Lew was an executive at Citigroup from 2006 to 2008 at the time of the financial crisis. He backed financial deregulation efforts while he headed the Office of Management and Budget under President Bill Clinton....
    January 11, 2013 | Story
  • Thumbtaibbi
    Four years after the massive bailout that rescued Wall Street, we look at the state of the financial sector with Rolling Stone’s Matt Taibbi and former financial regulator William Black. In a new article for Rolling Stone, Taibbi argues the government did not just bail out Wall Street, but also lied on the financial sector’s behalf, calling unhealthy banks healthy and helping banks cover up how much aid they were getting. The...
    January 11, 2013 | Story
  • Ubs
    As news comes that the IRS will award whistleblower Brad Birkenfeld $104 million—the largest individual federal payout in U.S. history for exposing the biggest tax evasion scheme in U.S. history—we will speak with one of his attorneys, Stephen Kohn, executive director of the National Whistleblowers Center. Click to see our past coverage on Democracy Now! and to read columns by co-host Juan Gonzalez on how the former UBS banker went...
    September 11, 2012 | Web Exclusive
  • Bsteele
    In part two of our interview with the investigative duo James Steele and Don Barlett, they talk about the media’s failure to hold Wall Street or politicians accountable for financial crimes and mismanagement — topics covered in their new book, "The Betrayal of the American Dream." They also discuss attacks on Social Security, and campaign finance reform. [includes rush transcript]
    August 01, 2012 | Web Exclusive
  • Matt_taibbi
    In part two of our interview with Matt Taibbi, he describes recent Wall Street scandals — including a decade-long Wall Street scandal that drained money from every county and state in the United States — and notes not a single bank executive has faced individual consequences. He also explains how Republican presidential nominee Mitt Romney’s former firm, Bain Capital, and others have used private equity to raise money to conduct...
    July 30, 2012 | Web Exclusive
  • Goldman-sachs-logo
    The Oakland City Council has voted unanimously to end a contract with Goldman Sachs that locked it into a financial deal called an high interest rate swap. The city signed on with the bank in 1998 on the premise it would reduce costs of its bonds amid rising interest rates. But after the 2008 financial meltdown, the Federal Reserve cut interest rates to near zero. As a result, Goldman’s rate dropped to 0.15 percent — even as it...
    July 09, 2012 | Story
  • Button-diman
    Protesters confronted JPMorgan Chase CEO Jamie Dimon on Wednesday as he testified on Capitol Hill about how his bank lost up to $3 billion in risky bets. Lawmakers, however, gave a warmer greeting to the man described as Washington’s favorite banker. JPMorgan spent $7.6 million on lobbying last year, and Dimon has a long record of contributing campaign donations to lawmakers on the Senate Banking Committee. We speak to former investment...
    June 14, 2012 | Story