Consumer Post Prospect Has Democrats in Knots
Democrats agonized Monday over whether President Barack Obama should pick Harvard Law School Professor Elizabeth Warren to be the nation's first consumer-finance regulator, an indication of the intense fight to come.Ms. Warren is one of at least three finalists for the post created by legislation overhauling financial regulations, and the ...
Goldman Shares Up; SEC Announces Settlement
NEW YORK -- Shares of Goldman Sachs Group Inc. (GS) surged after the close of trading as the Securities and Exchange Commission announced it would settle a fraud lawsuit against the investment bank. Earlier Thursday, in the regular trading session, shares of the investment bank rose after the SEC said ...
Bank Stocks Rally As Financial Reform Comes Together
Financial stocks rallied after Congress passed a key hurdle--rather painlessly--in its effort to reform the U.S. financial regulatory structure, paving the way for President Obama's signature in the coming weeks."There was a big political component to this, and the fear on Wall Street was that this bill would be a ...
Wall Street dodges bullet on derivatives
NEW YORK -- It's a brave new world for the derivatives market. Or is it?Congress' efforts to reshape this murky corner of the nation's financial system may have little impact on the Wall Street firms that dabble in these complex financial investments. As part of the financial regulatory reform bill ...
BP to defend spill as Obama pitches greener U.S.
(Reuters) - President Barack Obama will outline a plan to reduce the country's addiction to oil on Tuesday after U.S. lawmakers say BP's cost-cutting culture caused the worst spill in U.S. history. A day after BP shares fell 9 percent in London and New York, U.S. lawmakers will ask its ...
Who Has It Worse? BP or Goldman Sachs?
The nation is transfixed by the pictures of oil spilling into the Gulf of Mexico. Of course, it wasn’t too long ago that the nation’s angst was focused on Goldman Sachs Group and the SEC’s civil suit against the Wall street investment bank. Naturally, the questions arises, who has it ...
Ask Goldman Sachs to Give It Back!
Sometimes when you explain to people that some of the most complicated financial transactions in the country were just side bets, they don't really believe you. They think it's an oversimplification. We couldn't have wrecked the global economy because some people made side bets. These are sophisticated bankers with sophisticated ...
JPMorgan faces angry homeowners
Angry homeowners protested outside JPMorgan Chase’s annual meeting in New York on Tuesday as Jamie Dimon, the bank’s chief executive, defended its record in modifying mortgages for hard-pressed borrowers.At one point, a protester, Bruce Marks, who runs the Neighborhood Assistance Corporation of America, which provides loans to low-income people, attempted ...
Criminal probe targets 6 Wall Street firms: source
Prosecutors are conducting a broad criminal investigation of six major Wall Street banks, including JPMorgan Chase & Co and Citigroup Inc, to determine if they misled investors, a person familiar with the matter said on Thursday.The others are Deutsche Bank AG, UBS AG, Morgan Stanley and Goldman Sachs Group Inc, ...
Fabrice Tourre’s New Street Cred
While Main Street vilifies Goldman Sachs, and the federal government widens its probe into the bank’s selling of mortgage securities, an unlikely folk hero is emerging on Wall Street: Fabrice Tourre, the 31-year-old Goldman employee named in the Security and Exchange Commission's suit. Already, Fabulous Fab—as he calls himself in ...
Criminal Probe Looks Into Goldman Trading
Federal prosecutors are conducting a criminal investigation into whether Goldman Sachs Group Inc. or its employees committed securities fraud in connection with its mortgage trading, people familiar with the probe say.The investigation from the Manhattan U.S. Attorney's Office, which is at a preliminary stage, stemmed from a referral from the ...
AP source: Criminal probe of Goldman under way
WASHINGTON – The U.S. attorney's office in Manhattan is conducting a criminal investigation of Goldman Sachs over mortgage securities deals the big Wall Street firm arranged, a knowledgeable person said Thursday.The person said the probe stems from a criminal referral by the Securities and Exchange Commission. The source spoke on ...
Goldman may face Justice Department review
The Securities and Exchange Commission has referred its investigation of Goldman Sachs to the Justice Department for possible criminal prosecution, less than two weeks after filing a civil securities fraud case against the firm, according to a source familiar with the matter. Any probe by the Justice Department, if underway, ...
New York marchers protest Wall Street, big banks
NEW YORK, April 29 - Several thousand demonstrators marched through the New York financial district on Thursday in a protest led by labor unions, saying Wall Street's biggest banks must account for record profits while average Americans still suffer financially. Spearheaded by the AFL-CIO, the march made its way through ...
Judd Gregg and Ben Nelson: More Socialism Please
As we find our economy subsisting on massive government spending and no-strings-attached bailouts, borrowed, of course, from future generations, what solutions do the same leaders who got us into this mess offer? You already know the answer -- more government handouts.The latest gambit?Politicians like Judd Gregg and Ben Nelson are ...
Legislators suggest fraud, request Goldman inquiry
WASHINGTON - A group of 62 House lawmakers is asking the Justice Department to conduct a criminal investigation of Goldman Sachs Group Inc.Rep. Marcy Kaptur (D., Ohio) said Wednesday that a letter from the group to Attorney General Eric H. Holder Jr. requested an immediate opening of a criminal probe."On ...
Kaptur Presses for Wall Street Probes
The pressure on federal investigators to bring financial fraud cases showed up on literally on the Justice Department’s doorstep today.Rep. Marcy Kaptur (D., Ohio), showed up with an entourage to deliver a letter signed by 62 members of Congress to urge the department to investigate Goldman Sachs and other Wall ...
"Nobody on Wall Street is too big for jail"Rep. Marcy Kaptur (D-OH) announced a letter addressed to Attorney General Eric Holder asking for a criminal investigation of Goldman Sachs immediately after the SEC announced fraud charges against Goldman.The Progressive Change Campaign Committee, a 400,000-member organization, spearheaded grassroots mobilization around the ...
Aaron Bartley is Executive Director of People United for Sustainable Housing (PUSH).
April 28th, 2010
PUSH Buffalo Joins the Showdown on Wall Street
In the nearly two years since the biggest banks precipitated a devastating economic meltdown and then exploited the moment to win billions in taxpayer bailouts and billions more in free money from the Federal Reserve, not a single public demonstration of significance has darkened the doors of the Wall Street ...
Protesters Launch Showdown With the Monster Banks, Demand Wells Fargo to End Predatory Lending
"We are many and they are few -- and today they have to deal with us!" yelled an organizer at a San Francisco march and rally on Tuesday afternoon aimed at calling out Wells Fargo for its predatory lending practices. A crowd of a few hundred pissed-off consumers responded boisterously ...
Goldman Sachs CEO Lloyd Blankfein did his best to explain the firm's controversial trades in the mortgage market, but Senator Carl Levin and the other members of the Permanent Subcommittee on Investigations weren't buying it. The issue, laid out in a civil fraud suit by the SEC, is whether Goldman ...
Blankfein Says Firm Doesn’t Need to Disclose Position
Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein told a Senate panel that market-makers have no obligation to tell clients about their own position in a security. Blankfein, responding to questions from Senator Carl Levin, chairman of the Permanent Subcommittee on Investigations, said the nature of the principal business ...
Levin, quoting Goldman e-mail, drops repeated s-bombs
UPDATED at 11:44 a.m.: The Senate's Permanent Subcommittee on Investigations, headed by Sen. Carl Levin (D-Mich.), is taking it to Wall Street megabank Goldman Sachs and its role in the sub-prime mortgage securitization crisis. The SEC has charged Goldman with fraud for its role in creating a 2007 investment vehicle ...
Democrats push bank controls; GOP delays action
WASHINGTON – Undaunted by a Senate setback, Democrats appeared increasingly confident Monday they will be able to take advantage of Americans' anger at Wall Street and push through the most sweeping new controls on financial institutions since the Great Depression.The Senate, in a 57-41 vote, failed to get the 60 ...
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January 17th, 2012
STOP SOPA: Why MichaelMoore.com Will Be Blacked Out Wednesday, January 18th
My websites MichaelMoore.com and Mike's High School Newspaper will both be going dark for 24 hours starting at midnight tonight in protest of the Stop ...
December 30th, 2011
75 Years Ago Today, the First Occupy
On this day, December 30th, in 1936 -- 75 years ago today -- hundreds of workers at the General Motors factories in Flint, Michigan, took ...
December 28th, 2011
Click here to donate to the congressional campaign of Flint's own Dan Kildee I have many things I'm planning to do in the New Year ...
December 24th, 2011
A Little Christmas Gift for You to Download
Thanks for all the wonderful comments regarding the short story about my mom from HERE COMES TROUBLE that I sent you a few days ago. ...
December 20th, 2011
Here's a New Free Chapter from HERE COMES TROUBLE
Thank you to the tens of thousands of you who have read HERE COMES TROUBLE and helped to make it a New York Times bestseller ...
December 18th, 2011
LAST CALL: Signed First Editions Will Be Gone by Tomorrow! ORDER TODAY, RECEIVE BY XMAS
My publisher has informed me that they are down to their last crate of the first printing/first editions of HERE COMES TROUBLE -- the ones ...
December 17th, 2011
A Man in Tunisia, a Movement on Wall Street, and the Soldier Who Ignited the Fuse
It's Saturday night and I didn't want the day to end before I sent out this note to you. One year ago today (December 17th), ...
September 11th, 2010
If the 'Mosque' Isn't Built, This Is No Longer America
OpenMike 9/11/10 Michael Moore's daily blog I am opposed to the building of the "mosque" two blocks from Ground Zero. I want it built on ...
December 14th, 2010
Why I'm Posting Bail Money for Julian Assange
Yesterday, in the Westminster Magistrates Court in London, the lawyers for WikiLeaks co-founder Julian Assange presented to the judge a document from me stating that ...
May 12th, 2011
Some Final Thoughts on the Death of Osama bin Laden
"The Nazis killed tens of MILLIONS. They got a trial. Why? Because we're not like them. We're Americans. We roll different." – Michael Moore in ...
November 22nd, 2011
Where Does Occupy Wall Street Go From Here?
This past weekend I participated in a four-hour meeting of Occupy Wall Street activists whose job it is to come up with the vision and ...
September 22nd, 2011
A STATEMENT FROM MICHAEL MOORE ON THE EXECUTION OF TROY DAVIS
I encourage everyone I know to never travel to Georgia, never buy anything made in Georgia, to never do business in Georgia. I will ask ...
December 16th, 2010
Dear Swedish Government: Hi there -- or as you all say, Hallå! You know, all of us here in the U.S. love your country. Your ...
November 2nd, 2010
This letter contains (almost) no criticisms of how the Democrats have brought this day of reckoning upon themselves. That -- and where to go from ...
Home Front: Portraits from Sheikh Jarrah
Mike, was the triple overtime Outback Bowl come-from-behind win the greatest Spartans game ever?
Yes -- or at least it will be until their appearance in next year's Rose Bowl, a game which... Continue Reading
Michael Moore on Conan, 12/7/11
Michael Moore on The Last Word with Lawrence O'Donnell, 11/21/11
Michael Moore on Countdown with Keith Olbermann, 11/15/11
Michael Moore on The Last Word with Lawrence O'Donnell, 11/9/11
