Word: bankses
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The ad is paid for by the Senate campaign of Democrat Martha Coakley, but its regular-guy-against-the-rich strategy was developed months ago by top White House aides, who know their party faces a perilous election this fall. This same strategy was much in evidence at the White...
David Axelrod, Obama's top political adviser, explained the overarching Democratic campaign message during a recent interview with the National Journal. "[If] they want to stand with the insurance industry on health care and protect the status quo, then let them defend that in an election," he said. "If they...
At times, the top executives did contend that regulation might have been too loose leading up to the crisis, but they stressed that that was no longer the case. All thought that the government needed the power to resolve large troubled institutions. Brian Moynihan, CEO of Bank of America, said...
One of the more interesting exchanges came when FCIC members asked the CEOs if they thought that Wall Streeters should get a portion of their compensation in the products they were selling to customers, like mortgage bonds or stocks. In late 2008, investment bank UBS instituted such a plan. The...
Still, many believe the government needs to do more to rein in risky behavior on Wall Street. Among the proposals that have been promoted by President Barack Obama and Congress are a systemic regulator that would be on guard for markets and participants that were creating unseen risks in the...