Tag Archives: wall

Elizabethan Drama

Clarification Appended: June 30, 2011 Here’s some good news for consumers who feel themselves trampled by soulless banking and credit giants: on July 21, a new consumer-protection agency will open its doors in Washington, with the mission of making everything from mortgage documents to credit statements fairer and easier to understand and generally giving the little guy more power against the financial corporate juggernauts. Here’s the bad news: it’s not clear that President Obama will be able to appoint anyone to run it

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Deficit Deal? The Gang of Six Ain’t Talking

One of the more depressing and outrageous revelations of the massive Wall Street scandal was the news that the previously Olympian ratings agencies, Moody’s and Standard & Poor’s, were incompetent at best; at worst, they were in bed with the investment banks whose bonds they were supposed to be evaluating. Both agencies, for example, bestowed AAA ratings — the highest possible — on laughably flimsy mortgage-backed bond contraptions, whose demise almost sank the global economy

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