Review: ‘The Big Short’ Hilariously Depicts Crash of American Economy
With an incredible ensemble of actors, director Adam McKay transforms the tragedy of the collapse of the American economy in 2007 into a hilarious, informative, and mesmerizing tale of how it all unfolded. The film is based on Michael Lewis’ best-selling nonfiction book of the same title and follows a set
JPMorgan Facing Criminal Probe For Pre-Crash Mortgage Securities Fraud
On Tuesday, WSJ reported JPMorgan and RBS are facing criminal probes for selling fraudulent mortgage-backed securities that led to the 08 crash.
Too Big To Fail AIG Refuses To Break Up
AIG executives are refusing to consider a plan created by shareholder activist Carl Icahn to break up the massive “Too Big To Fail” corporation.
Former Fed Chair Bernanke Says Bankers Should Have Been Jailed For ’08 Crash
Former Federal Reserve Chairman Ben Bernanke, who engaged in his own questionable conduct while head of the Fed, has now said that individuals should have gone to jail for engaging in the financial crimes that led to the 2008 financial crisis. Bernanke’s statement came last week during a book promotion
Film Review: ’99 Homes’ Is Compelling Tale Of Corruption Around Home Foreclosures
Ramin Bahrani’s “99 Homes” depicts corruption in the housing market in Florida through compelling characters shaped and affected by this underworld.
Appealing Treasury Department’s FOIA Response On Hank Paulson AIG Records
The following letter was mailed today to the Treasury Department’s Freedom of Information Act (FOIA) division. It is a response to a two year old FOIA request that asked for records concerning former Treasury Secretary Henry Paulson’s communications during a period that included the AIG bailout. The Treasury Department claimed, amazingly, that no official records could be found and gave me 35 days to appeal the no records response.
Student Loan Crisis Driven By For-Profit Colleges, Report Shows
Brookings Institution found that “most of the increase in default is because of an upsurge in the number of borrowers attending for-profit schools and, to a lesser-extent, community colleges and other non-selective institutions whose students had historically composed only a small share of student borrowing.”
Treasury Department Claims Paulson Never Officially Discussed AIG Bailout
In August, the US Treasury Department responded to a 2013 Freedom of Information Act (FOIA) request for records of former Treasury Secretary Henry Paulson’s communications during the 2008 bailout of American International Group (AIG) by claiming that the agency could not find any records. Here’s how you can help us respond.
Almost One-Third Of Children Live In Poverty In ‘The Richest Nation In The World’
The financial collapse of 2008 and the absence of true economic recovery in the years since has left millions more children in poverty than before the recession. About 22 percent of American children live in poverty, and even that figure may not fully account for all those who are struggling.
Report: Cost Of Financial Crisis Reached $20 Trillion
Last month, the nonpartisan financial reform organization Better Markets put out a report claiming that the total cost for the 2008 financial crisis and resulting recession reached$20 trillion. The number comes from an estimate of how much of a toll the crash put on the gross domestic product with high unemployment/underemployment and the hollowing out of the middle class through foreclosures, deferred education, and bankruptcies.