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India and America, Two Peas in a Pod
Keywords:
Friedman compares the anti-corruption movements in India and the U.S., the world's two largest democracies. The Occupy Wall Street anti-corruption movement in the U.S. focusses on the excessive influence of banks on lawmakers, regulators, and the government, through the use of campaign money, revolving door for government officials and regulators to join banks, and intense lobbying. The anti-corruption movement focusses on corruption in government at higher levels, such as the handling of government licenses, and at the basic levels of needing to bribe officials for something as simple as getting a birth certificate or other government document. Both have pernicious effects, in the U.S. excesssive bank influence leads to taking excessive risk for higher bonuses, putting the entire financial system at risk and creating a crisis in housing that delays the economic recovery. And in India the corruption leads to retarded progress, as funds to invest in infrastructure and development are siphoned off, business and entrepreneurs are required to pay bribes at each step, and ordinary people face the need to pay bribes for the most routine interactions with government officials. In the process this creates more unequal societies by skewing the distribution of benefits from wealth created to groups that are better equipped to game the system. The economic system once distorted in these ways has tendencies to take talent away from productive activity and innovation which create wealth, and direct it towards speculative activities.
Friedman on the Anti-Corruption Movement in India and the Occupy Wall Street movement in the U.S.
04/10/2009
Grouped Articles
India and America, Two Peas in a Pod
New York Times 11/08/2011
New Indian Party Shakes Up Politics
Wall Street Journal 12/02/2013
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Corruption Mars Image of Change in India Elections
Wall Street Journal 04/10/2009
Upstart Party Scores Victory in India State Elections
Wall Street Journal 02/11/2015
Anna Hazare and India's anti-corruption movement- 2011-2012
04/10/2009
Grouped Articles
âAn Uncertain Glory,â by Jean Drèze and Amartya Sen
New York Times 09/06/2013
New Indian Party Shakes Up Politics
Wall Street Journal 12/02/2013
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Corruption Mars Image of Change in India Elections
Wall Street Journal 04/10/2009
Defying Expectations in India, Modi Begins Key Trip to U.S.
New York Times 09/25/2014
Indian State in Mourning After Graft Conviction
New York Times 10/04/2014
Corruption in iron ore mining in India
04/10/2009
Grouped Articles
Indian PM slams anti-corruption activist as protests over arrest spread - The Washington Post
Washington Post 08/17/2011
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Corruption Mars Image of Change in India Elections
Wall Street Journal 04/10/2009
China’s Slowdown Hits Price of Iron Ore
Wall Street Journal 12/01/2014
Upstart Party Scores Victory in India State Elections
Wall Street Journal 02/11/2015
Indiaâs Widening Iron Ore Scandal Hurts Stocks
New York Times 08/01/2011
India- corrupton of public officials and the Congress government
11/06/2010
Grouped Articles
Anti-corruption protests in India: No modern-day Mahatma
Economist 08/27/2011
Washington Post 06/09/2013
Big Indian States Deal Poll Setback to Congress Party
Wall Street Journal 03/07/2012
Poll Suggests Crushing Loss Awaits India’s Governing Party
New York Times 02/26/2014
India's Congress Party Firmly Routed
Wall Street Journal 05/17/2014
After Modi's big win, is the Gandhi political dynasty over in India? - The Washington Post
Washington Post 05/18/2014
India: corruption and fraud investigations 2010-14
04/10/2009
Grouped Articles
Indian PM slams anti-corruption activist as protests over arrest spread - The Washington Post
Washington Post 08/17/2011
India Seeks to Overhaul a Corporate World Rife With Fraud
New York Times 08/15/2013
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Behind a Real-Estate Empire, Ties to India's Gandhi Dynasty
Wall Street Journal 04/18/2014
Corruption Mars Image of Change in India Elections
Wall Street Journal 04/10/2009
India Allocated Coal Fields to Private Companies Illegally, Top Court Rules
New York Times 08/25/2014
The Lokpal bill in India for an anti-corruption agency with powers
04/10/2009
Grouped Articles
Indian PM slams anti-corruption activist as protests over arrest spread - The Washington Post
Washington Post 08/17/2011
New Indian Party Shakes Up Politics
Wall Street Journal 12/02/2013
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Corruption Mars Image of Change in India Elections
Wall Street Journal 04/10/2009
Indian State in Mourning After Graft Conviction
New York Times 10/04/2014
Upstart Party Scores Victory in India State Elections
Wall Street Journal 02/11/2015
Frank Rich on the lobbying industy and its activities which aim at gutting most of the U.S. President's reform proposals.
07/24/2009
Is this a bad omen for the lobbyists or the Obama administration, or both, asks Rich in this NYT piece. Rich comments on a series of Washigton post articles showing the cooperation of lobbyists and senior members of Congress and the Obama administration. The Republicans too have the same pattern. In this context see Brooks article about the coming culture wars that cut across party lines and are based on values.
Grouped Articles
Banks' Lobbyists Help in Drafting Financial Bills
New York Times 05/23/2013
Obama's Health Expert Gets Political
Wall Street Journal 07/24/2009
New York Times 10/04/2009
New York Times 10/19/2009
No Walk in the Park: For Obama One Year Later, It’s the Slog of Governance
New York Times 11/04/2009
In House, Many Spoke With One Voice: Lobbyists’
New York Times 11/15/2009
Lobbying by the U.S. pharmaceutical and healthcare industry.
06/25/2008
Grouped Articles
Obama's Health Expert Gets Political
Wall Street Journal 07/24/2009
Wall Street Journal 06/25/2008
Drug Industry Adapts to Democrats' Mounting Clout
Wall Street Journal 10/24/2008
William Daley Brings Management Experience as Chief of Staff
New York Times 01/06/2011
India and America, Two Peas in a Pod
New York Times 11/08/2011
White House visitor logs show lobbying going strong - The Washington Post
Washington Post 05/21/2012
Solyndra management, lobbying, loan guarantees and waste in U.S. stimulus spending
01/16/2009
Grouped Articles
New York Times 09/06/2011
Wall Street Journal 09/16/2011
Dark Times Fall on Solar Sector
Wall Street Journal 12/27/2011
Solyndra employees: Company suffered from mismanagement, heavy spending - The Washington Post
Washington Post 09/22/2011
Wall Street Journal 09/24/2011
New York Times 09/23/2011
Accountablility of Financial Regulators
08/24/2009
Prof Kane at Boston College and Judge Rakoff point to the lack of accountability of financial regulators.
Grouped Articles
Stern Words for Wall Streetâs Watchdogs, From a Judge
New York Times 12/16/2013
Economist 06/13/2015
Facts and the Financial Crisis
New York Times 09/20/2009
BofA Ruling Questions an SEC Weapon
Wall Street Journal 09/16/2009
At Long Last, BofA Shareholders Find a Friend
Wall Street Journal 09/14/2009
Wall Street Journal 09/15/2009
Challenging the embedded thinking on Wall Street and in the City of London.
09/24/2009
The unregulated functioning of free markets is a result of regulators and the banking community both believing that the uninhibited operation of free markets is the best way to generate economic growth. This makes it easy for regulators to be coopted and falling asleep on the job. Turner Adair of Britain's FSA, and other leaders, who are trying to bring fresh thinking to regulatory reforms.
Grouped Articles
On Wall St., A Culture of Greed Won't Let Go
New York Times 07/15/2013
New York Times 12/27/2011
Britain’s Top Financial Regulator Takes On Banks
New York Times 09/24/2009
British Banks Will Face Tougher Liquidity Rules
New York Times 10/06/2009
The U.K.'s Tough Line on Liquidity
Wall Street Journal 10/07/2009
A Lack of Fiscal Fitness Is Weighing on the Pound
Wall Street Journal 10/14/2009
Executive compensation on Wall Street: Assuaging public anger or the real thing
02/04/2009
Its not clear whether these controls on pay practices are adequate, or too little too late. With bills being watered down in Congress on derivatives trading and other risk prevention measures. The intense lobbying of the financial industry against prudent regulation. The voices of wiser minds like Volcker and Mervyn King of the Bank of England calling for strong action. And the jobless numbers going the other way. Most recently at the Barr Trucking Company in Indiana, where 500 resumes were received for a $13 an hour assistant position.
Grouped Articles
New York Times 12/27/2011
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
S.E.C. Proposes Greater Disclosure on Pay for CEO's
New York Times 09/18/2013
A Better Way to Compare C.E.O. Pay
New York Times 09/21/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
Lighter banking regulation in the U.S. compared to the stricter regulation proposed in Britain- 2011-2012
04/07/2011
The structural separation of investment banking and trading activities of banks from deposit taking activity, that is proposed by the Independent Commission on Banking in Britain. This is different from the Volcker Rule in the U.S., which sets rules banks are required to follow to constrain risktaking activity by the trading arm of banks. In practice only a lighter form of the Volcker Rule has been adopted in the U.S., and the rules are not clearly defined. Ring fencing of risk taking activities at banks is an important part of British regulation, an approach also adopted by Germany.
Grouped Articles
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
British Bank Proposal Expected to Include Stiff Rules
New York Times 04/07/2011
British Bank Panel Suggests Changes to Limit Risk
New York Times 04/12/2011
Big Banks in U.K. Dodge Breakup
Wall Street Journal 04/12/2011
After the reforms: Safer, but not yet safe enough
Economist 05/21/2011
The perverse effects of lobbying in damaging the public interest.
04/10/2009
Finance industry lobbying, with $300 million alone spent to repeal the Glass Steagall Act which kept banks from getting involved in the securties business, is having the effect of making changes without the due diligence and care necessary for changing legislation that had deep reason embedded in experience during the Great Depression. Citigroup's failure is a result of its involvement in the securities business, and it was a principal backer for the repeal. Similar situation is playing out in the U.S. health-care area which has overtaken the finance industry in money spent for lobbying. Lobbying of this magnitude is having distortional effects on national priorities on necessary regulation, and on creating sustainable economical systems for health care in health care laws.
Grouped Articles
Banks' Lobbyists Help in Drafting Financial Bills
New York Times 05/23/2013
New York Times 04/10/2009
Finance Lobby Cut Spending as Feds Targeted Wall Street
Wall Street Journal 07/02/2009
New York Times 07/20/2009
New York Times 07/20/2009
Doctors' Payments Snag Health Bill
Wall Street Journal 07/20/2009
The wreckage in society, communities, arts, and culture, that failures in character of leaders in finance, industry and government leave behind- the global financial crisis 2009-2011
04/03/2009
The wreckage and devastation that failures in character, or failures in leadership, leave behind. Flint, Michigan, the arts and cultural scene in Israel, communities in Latin america depending on money transfers of immigrants in the US. Failures in regulation by leaders in government. Failures in policy overseas. In diverse and multiple ways this seeps through societies and communities.
Grouped Articles
Finance and economics: What's wrong with finance
Economist 05/09/2015
President Obama clears way for federal aid in Flint, Mich., water crisis - The Washington Post
Washington Post 01/17/2016
Hillary Clinton just seized the political moment on Flint, Mich. - The Washington Post
Washington Post 01/18/2016
How government officials failed the people of Flint, Mich. - The Washington Post
Washington Post 01/21/2016
Scathing independent report blames state officials for Flint water crisis - The Washington Post
Washington Post 03/24/2016
New York Times 04/03/2009
The watering down of banking reforms in Congress.
10/15/2009
Not allowing states to regulate banks risks repeating some of the mistakes made in the events leading to the mortgage related global financial crisis,
Grouped Articles
Trench Warfare: Send In the Deputies
New York Times 04/16/2010
New York Times 04/18/2010
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
Compromise Bill Could Block States on Bank Rules
New York Times 10/22/2009
Obama Promises Butchers No New Financial Regulations
Unknown 10/25/2009
A Citigroup restructuring plan, and bank restructuring plans that were never developed by Treasury Secretary Geithner for President Obama
01/02/2009
Ron Suskind documents the making of key economic decisions in the Obama White House from 700 hours of interviews in his new book released in Sept 2011: "Confidence Men: the Obama White House, Wall Street and the Education of a President." In the book he says Obama asked Geithner to develop a plan for restructuring Citigroup after the bailout of Citi. A month later he followed up in a meeting, and was told by Romer at a meeting Geithner did not atttend, that no plan had been developed. The President's response was "it better be." Geithner says he was asked to do so but "fortunately there was never a need to put them in place."
Grouped Articles
New York Times 05/16/2010
A Conflict in Geithner's New Job- Not Exactly
New York Times 11/18/2013
Charlie Rose Talks to Robert Reich
BusinessWeek 10/21/2010
A Stress Test for the Latest Bailout Plan
New York Times 02/14/2009
Citigroup Hits 'Penny Stock' Realm
Wall Street Journal 03/06/2009
Obama, Geithner Get Low Grades From Economists
Wall Street Journal 03/11/2009
$52 billion of government money to go through AIG to banks and in turn to hedge funds for betting against the housing market.
01/19/2009
The Financial Products Group's 370 person staff at AIG earns bonueses of $400 million for AIG insurance sold at "fractions of a penny for every dollar covered, less than $10 million for $1 billion of insurance" (WSJ). It costs the government $52 billion to take care of this and $165 million in bonus check go out for retention incentives with binding contracts to these staffthe same week. Thats the kind of financial innovation that has exacerbated the turmoil and created acrisis of condfidence for financial markets in the USA by March 2009.
Grouped Articles
BusinessWeek 04/01/2010
Hedge Funders Are All a Little Nuts
Wall Street Journal 08/27/2013
In New Books, a Look at People and Places That Innovate
New York Times 09/04/2010
Hank Greenberg Still in the Ring at 90, Battling A.I.G. Charges
New York Times 04/30/2015
Wall Street Journal 06/16/2015
In A.I.G. Case, Surprise Ruling That Could End All Bailouts
New York Times 06/15/2015
Bank analyst Mike Mayo and the problems with bank ratings
11/05/2011
Mayo worked as a bank analyst for two decades. He describes the problems he faced in giving banks a negative rating in an environment where only 3% of bank ratings are negative. His new book is - "Exile on Wall Street
Grouped Articles
Why Wall Street Can't Handle the Truth
Wall Street Journal 11/05/2011
India and America, Two Peas in a Pod
New York Times 11/08/2011
On Wall Street, Some Insiders Express Outrage
New York Times 12/01/2011
Banks' Ratings Reliance Nears End
Wall Street Journal 12/08/2011
The culture at the investment banking operations of Swiss bank UBS, Societe Generale, and other banks
02/02/2008
Grouped Articles
Former UBS Official Is Arrested in Tax Probe
Wall Street Journal 10/21/2013
How to Lose $7.2 Billion: A Trader's Tale
Wall Street Journal 02/02/2008
A Trader’s Secrets, a Bank’s Missteps
New York Times 02/05/2008
At UBS, Itâs the Culture Thatâs Rogue
New York Times 09/23/2011
There are no rogue traders, there are only rogue banks - The Washington Post
Washington Post 09/25/2011
UBS Shareholders Push for Deeper Changes
Wall Street Journal 09/26/2011
Bill Keller on the Anti-Corruption Movement in India
04/10/2009
Bil Keller talks to Kiran Bedi of the Anti Corruption Movement.
Grouped Articles
New York Times 10/30/2011
India and America, Two Peas in a Pod
New York Times 11/08/2011
New Indian Party Shakes Up Politics
Wall Street Journal 12/02/2013
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Corruption Mars Image of Change in India Elections
Wall Street Journal 04/10/2009
Defying Expectations in India, Modi Begins Key Trip to U.S.
New York Times 09/25/2014
Corruption and business initiative in India
04/10/2009
Grouped Articles
Indian PM slams anti-corruption activist as protests over arrest spread - The Washington Post
Washington Post 08/17/2011
New Indian Party Shakes Up Politics
Wall Street Journal 12/02/2013
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Corruption Mars Image of Change in India Elections
Wall Street Journal 04/10/2009
Defying Expectations in India, Modi Begins Key Trip to U.S.
New York Times 09/25/2014
Indian State in Mourning After Graft Conviction
New York Times 10/04/2014
Gaps in perception of India's anti-corruption movement as seen in the U.S. media and by Indian public opinion
04/10/2009
India's Congress government version of events presents it an issue of constitutional sovereignty. Indian public opinion sees it as truly an issue of controlling widespread corruption. Freedom of the press and freedom of assembly are guaranteed in India by the constitution and is exercized continuously since 1947. Corruption at all levels in India in the delivery of public services and in the development of infrastructure has to be experienced to be fully grasped. It acts as a perpetual tax on the middle class and the poor. One has to carefully read the draft of the anticorruption bill drafted by the Congress government, and understand how things function locally today, to realize that it is designed to make little difference in the current state of things. Designed that way because it is a silent but no less explicit intent of the government, political parties, the bureaucracy and interests that have advantages with the existing system, to preserve the status quo. Activist Hazare's bill is designed to give the anti corruption body called a Lokpal the powers it needs to be effective. The prime minister could be exempted but the bureaucracy at all levels and members of parliament and state legislatures if immune to this kind of oversight, would in a developing country with the local conditions of India, render it meaningless. Because this is where the corruption resides. Limits of overreach by the Lokpal come from the body simply acting as a referral system which sends the cases to the judiciary. In doing so constitutional powers are actually vested in the judiciary and the Supreme Court as the final arbiter. India's system of government does not confer sovereignty to parliament- as the Congress government contends- but divides powers between the President, Parliament, and the Judiciary, with a system of checks and balances as in the U.S. Because the current system has delivered a high rate of growth there may be even a tolerance for corruption as a necessary evil as practiced in China. Conditions are differen
Grouped Articles
Indian PM slams anti-corruption activist as protests over arrest spread - The Washington Post
Washington Post 08/17/2011
India's Main Opposition Party Names Candidate for Prime Minister
Wall Street Journal 09/13/2013
Campaign for Prime Minister in India Gets Off to Violent Start
New York Times 09/17/2013
New Indian Party Shakes Up Politics
Wall Street Journal 12/02/2013
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Big Indian States Deal Poll Setback to Congress Party
Wall Street Journal 03/07/2012
India- lack of transparency and fairness in auctions of telecommunications bandwidths.
04/10/2009
2008 auctions were rigged according to the Auditor-General's report. The loss to the governmet of $38 billion. The department of Telecommunications is described as failing miserably to do the due diligence. Adds to the general sense of corruption in the handling of governmental affairs.
Grouped Articles
Indian PM slams anti-corruption activist as protests over arrest spread - The Washington Post
Washington Post 08/17/2011
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Corruption Mars Image of Change in India Elections
Wall Street Journal 04/10/2009
China Slips in Corruption Perceptions Report
New York Times 12/02/2014
Upstart Party Scores Victory in India State Elections
Wall Street Journal 02/11/2015
India Auction for Cellphone Spectrum Was Rigged, Report Says
New York Times 11/16/2010
Protests against corruption and calls for government action in India
04/10/2009
Grouped Articles
Indian PM slams anti-corruption activist as protests over arrest spread - The Washington Post
Washington Post 08/17/2011
A Quick Guide to the Lokpal Bills
Wall Street Journal 08/24/2011
India Supreme Court Bars Felons From Legislatures
Wall Street Journal 07/12/2013
New Indian Party Shakes Up Politics
Wall Street Journal 12/02/2013
Indian Parliament Passes Bill Forming Anticorruption Agency
New York Times 12/18/2013
Corruption Mars Image of Change in India Elections
Wall Street Journal 04/10/2009
Financial regulatory reform and lobbying by the U.S. financial industry.
01/02/2009
The extensive influence of lobbyists for the banking industry in the Obama administration The cozy relationship of bankers at Chase and Goldman with Rahm Emmanuel, White House chief of staff, and Geithner, the Treasury Secretary.
Grouped Articles
Banks' Lobbyists Help in Drafting Financial Bills
New York Times 05/23/2013
New York Times 12/27/2011
Trench Warfare: Send In the Deputies
New York Times 04/16/2010
New York Times 04/18/2010
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Lobbying by the U.S. oil and gas industry
10/03/2011
Grouped Articles
The Cronyism Behind a Pipeline for Crude
New York Times 10/03/2011
India and America, Two Peas in a Pod
New York Times 11/08/2011
White House visitor logs show lobbying going strong - The Washington Post
Washington Post 05/21/2012
New York Times 03/20/2013
Pharmaceutical company and industry lobbying in the U.S. Congress
06/25/2008
The influence on legislation and federal regulation that the pharmaceutical companies and industry associations are seeking, with $168 million spent on lobbying in 2006. As a result pricing of pharmaceutical products and healthcare services is the major unsolved problem in the U.S.
Grouped Articles
Wall Street Journal 06/25/2008
Health-Care Firms Have Supported Lawmakers Debating Reform
Washington Post 07/21/2009
Dana Milbank - Washington Sketch: GOP's Steele Couldn't Have Said It Better Himself
Washington Post 07/21/2009
Obama's Health Expert Gets Political
Wall Street Journal 07/24/2009
New York Times 08/02/2009
As Congress Goes on Break, Health Lobbying Heats Up
Wall Street Journal 08/05/2009
Steve Bartlett of the U.S. Financial Services Roundtable
07/15/2011
Bartlett heads the lobbying efforts to make changes to the Dodd-Frank financial reform legislation.
Grouped Articles
Banks' Lobbyists Help in Drafting Financial Bills
New York Times 05/23/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
Wall Street Lobbyist Aims to 'Reform the Reform'
New York Times 07/15/2011
A Dodd-Frank Retreat Deserves a Veto
Wall Street Journal 07/20/2011
2008 global financial crisis and the incomprehensible- Are the old faces that put the whole financial system at risk, now the new faces trying to fix it?
01/15/2009
Sir James Crosby is the old face of HBOS bank which needed $17 billion of British government money, he has also been Deputy Chairman of the Financial Services Authorty since 2006. Has part of the problem been that regulatory agencies have been run by the very people they were supposed to regulate. In the process has the regulatory mindset which is supposed to have conservative instincts and to be skeptical of newly contrived schemes and ever vigilant, been destroyed or replaced with something foreign to the task of regulation.
Grouped Articles
Obama's Pick to Head SEC Has Record Of Being a Regulator With a Light Touch
Wall Street Journal 01/15/2009
Schapiro Pledges Vigilance as SEC Chief
Wall Street Journal 01/16/2009
SEC Chief Pledges Effort To Bolster Enforcement
Wall Street Journal 02/07/2009
SEC Expected to Name Khuzami Enforcement Director
Wall Street Journal 02/09/2009
Top Enforcer at the S.E.C. Steps Down
New York Times 02/10/2009
British Regulator Quits as Accusations Mount in Banking Crisis
New York Times 02/12/2009
Dysregulation Nation
06/14/2010
Judith Warner's phrase and description for the cultural phenomena facing America in 2010 captures the nature of the problems needing attention.
Grouped Articles
New York Times 06/14/2010
Warner Music Nears a Sale to Access
New York Times 05/05/2011
After the reforms: Safer, but not yet safe enough
Economist 05/21/2011
Reregulation: A dangerous embrace
Economist 05/22/2011
Wall Street Journal 08/04/2011
Time Warner Reports Double-Digit Revenue Increase, Expects More
New York Times 08/03/2011
Lack of prosecutions by U.S. government agencies after the financial crisis of 2008
01/20/2010
A record of few prosecutions of senior executives of the companies that engaged in practices that led to the financial crisis of 2008. Various reasons are cited - the fragility of the financial system in 2009, the lack of cooperation from regulatory agencies, lack of funding for the FBI and the Justice Department to assign special staff for the effort.
Grouped Articles
Stern Words for Wall Streetâs Watchdogs, From a Judge
New York Times 12/16/2013
SEC-Citi Pact Rejected by Judge Rakoff
Wall Street Journal 11/28/2011
New York Times 09/29/2014
In Financial Crisis, No Prosecutions of Top Figures
New York Times 04/14/2011
Federal Agencies' Responses on Enforcement Actions
New York Times 04/14/2011
As Wall Street Firms Grow, Their Reputations Are Dying
New York Times 04/27/2011
Revolving door for officials in U.S. government and regulatory authorites, the S.E.C., the Federal Reserve, and the large banks.
01/28/2009
Orszag, budget director in the Obama administration, joins Citigroup. A senior official at the New York Fed's regulatory department joins Goldman Sachs. Another Fed official joins Morgan Stanley as chief economist. S.E.C. enforcement chief leaves Deutsche Bank for the S.E.C. and leaves the S.E.C. for a position in the financial industry. The nominee for S.E.C. chief in 2013, Jo White, represented JP Morgan Chase in her work at a law firm. The nominee for Treasury Secretary Jacob Lew, worked at Citigroup for a short period. A similiar situation exists in the UK and in other EU countries.
Grouped Articles
New York Times 12/27/2011
SEC's Top Cop Oversaw Deutsche CDOs
Wall Street Journal 04/24/2010
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
SEC Deals With Turnover at the Top
Wall Street Journal 08/20/2013
SEC Tries to Rebuild Its Reputation
Wall Street Journal 09/12/2013
SEC 'Revolving Door' Under Review
Wall Street Journal 06/16/2010
The right incentives for banking regulators to prevent local regulatory capture.
10/01/2009
The need for financial incentives ad better pay. And the importance of letting supranational institutions handle banking oversight.
Grouped Articles
Economist 10/01/2009
The Other Plot to Wreck America
New York Times 01/10/2010
India and America, Two Peas in a Pod
New York Times 11/08/2011
In Hunt for Securities Fraud a Timid S.E.C. Misses the Big Game
New York Times 12/15/2011
Doubts Greet Plan for Euro Zone Bank Regulator
New York Times 07/01/2012
The Free Market System in the U.S. in 2010-2011
12/20/2010
Free markets, regulation, perceptions of what it is or should be, the reality and aspirations for individual freedom in a system where government provides the rules by which business operates.
Grouped Articles
Wall Street Journal 12/20/2010
What caused the financial crisis? The Big Lie goes viral - The Washington Post
Washington Post 11/07/2011
India and America, Two Peas in a Pod
New York Times 11/08/2011
The state attorneys general in the U.S. and the subprime lending and foreclosure crises and mortgage settlements.
12/08/2009
Federal regulators and the Bush and Obama administrations failed miserably to help homeowners achieve loan modifications. This with the false belief that putting homeowners out of their homes would actually speed up a recovery, considering the huge scale of foreclosures in the USA , the high unemployment and other problems hitting the economy. Feldstein's consistent arguments for homeowner relief throughout 2008 and 2009- considering the large number of homeowners under water- as the mortgage crisis unfolded, were ignored by the Bush and Obama administrations. See the comparisons to Japan's lost decade, as the lack of recovery in housing adds to problems with job losses. The lawsuits, legal action and mortgage settlements facing banks as they make their way through the mortgage mess.
Grouped Articles
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
Banks Keep their Mortgage Litigation Reserves a Secret
New York Times 01/16/2014
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
BP’s Cuts May Wound Portfolio Recovery
Wall Street Journal 02/04/2015
Geithner's close contacts with Goldman, Chase, Citigroup and BlackRock.
01/02/2009
Grouped Articles
New York Times 05/16/2010
A Conflict in Geithner's New Job- Not Exactly
New York Times 11/18/2013
Obama, Geithner Get Low Grades From Economists
Wall Street Journal 03/11/2009
New York Times 04/01/2009
Geithner's Plan: Loopholes Galore
BusinessWeek 04/01/2009
Book Review: 'Stress Test' by Timothy F. Geithner
Wall Street Journal 05/12/2014
Bank Cleanup Options of bad bank, guaranteeing assets, and nationalization reviewed in the 2008 financial crisis
01/17/2009
Economist, NYT and experts look at the options for cleaning up the bad debt at banks.
Grouped Articles
Irreversible Damage: Why Little Action on Banking Can Do Great Harm.
New York Times 04/30/2010
New York Times 03/06/2009
New York Times 04/01/2009
New York Times 01/19/2009
Wall Street Journal 01/20/2009
New York Times 01/21/2009
Conflict of Interest and appointments in the Obama White House and the Obama administration
01/06/2011
With recent government support for US banks and heavy lobbying by the banks against reform legislation, the appointment of William Daley- who heads lobbying at Chase JP Morgan- to White House Chief of Staff, creates conflict of interest say columnists.
Grouped Articles
Book portrays dysfunction in Obama White House - The Washington Post
Washington Post 09/17/2011
Banks' Lobbyists Help in Drafting Financial Bills
New York Times 05/23/2013
William Daley Brings Management Experience as Chief of Staff
New York Times 01/06/2011
Reich Disappointed in Obama the Centrist
New York Times 01/07/2011
Obamaâs Top Aide a Tough, Decisive Negotiator
New York Times 01/07/2011
Daley Résumé Blends Politics, Business
Wall Street Journal 01/07/2011
Soul searching about the lack of changes to make the financial system safer after the 2008 global financial crisis
01/15/2010
Soul searching at the IMF, Britain's Financial Services Authority and among experts about the lack of serious changes or reforms in the financial system after the global financial crisis of 2008. Bondholders did not take a haircut in Ireland, and large banks are still "too big to fail." A sense that this could happen again.
Grouped Articles
Wall Street's Giants Try 'Flow Monster' Formula
Wall Street Journal 05/20/2013
GE Capital, AIG to Get More Government Oversight
Wall Street Journal 07/09/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
After a Financial Flood, Pipes Are Still Broken
New York Times 09/14/2013
Bill Keller and Thomas Friedman on the Anti Corruption Movement in India and Occupy Wall Street in the U.S.
10/30/2011
Linked Articles
India and America, Two Peas in a Pod
New York Times 11/08/2011
New York Times 10/30/2011
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