Majority Still Wants Less Corporate Influence

Gallup Organization released a study showing Americans, by a large majority, want less corporate influence in the U.S.  Unfortunately they aren't getting it.  Corporate influence is at an all time high. See Fox, Hen House, Economic Advisors and Nice to Advise the King for examples.  The last Congressional election was the most expensive so far, … Continue reading Majority Still Wants Less Corporate Influence

Lobbyists and Banks

From Michael Perelman: Lobbyists and Crises “The International Monetary Fund recently found that banks that spent more to influence policy over the last decade were more likely to take more securitization risks, have larger loan defaults and experience sharper stock falls during crucial points of the crisis.” Cyran, Robert and James Pethokoukis. 2010. “Formidable Lobbyists.” New … Continue reading Lobbyists and Banks

Why GM’s CEO is out, but no bank CEO is gone

Yesterday the Obama admin forced GM CEO Rick Waggoner to resign as a condition of continued support for GM's restructuring.  Yet, the administration has not yet demanded any of the banks change management (except AIG & Fannie last Sept), despite the banks using 18-20 times as much bailout money. Several folks have asked me why? … Continue reading Why GM’s CEO is out, but no bank CEO is gone