NEWS
By Jason Judd | March 12, 2012
If our largest banks are the "one-percenters" of American capitalism, small business is our 99. And, just as our largest corporations are ruling the roost in Washington, so too do they rule in Annapolis. In fact, Maryland's politics have become so lopsided over the last decade that support for Maryland's small businesses has degenerated into a mere talking point - "backbone of our economy," "the engine of economic growth," etc. Here's Exhibit A. In spite of all the talk from big business groups about taxes and regulation in Maryland, the top issue for small businesses is lending.
NEWS
By Andrew L. Yarrow | November 3, 2011
Going to the bank used to be sort of fun. Lollipops for the little ones. The local manager you had known for years. Depositing your paycheck with the same tellers every Friday afternoon. Such patterns provided a rhythm to daily life and also helped to create a sense of virtuous wealth-building. How different it is today. When we think of "bankers" now, we are more likely to think of bean-counting downsizers, who don't know us and never will, receiving gargantuan bonuses each year.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 3, 2011
On Capitol Hill, some lawmakers treat Elizabeth Warren as if she were Public Enemy No. 1. That's what happens when you're charged with setting up an agency whose purpose is to protect consumers on financial matters — a job that brings you up against supporters of banking interests. But in Baltimore, where the Harvard law professor spoke at a town hall meeting held by Rep. Elijah E. Cummings last week, she received rock-star treatment. In fact, she was called a "rock star" a few times and received two standing ovations from the overflowing crowd at the Enoch Pratt Free Library auditorium.
NEWS
By Ron Smith | May 1, 2009
The evidence mounts that the current economic troubles were set in motion because of systemic fraud. I keep thinking about Bernard L. Madoff's comment when F.B.I. agents were about to arrest him. Asked if he could explain what he had done in his Ponzi scheme, he replied, "There is no innocent explanation." Fact is, there is no innocent explanation for the actions of the financial elites and their bought-and-paid-for political lackeys. It's one thing for people like me to speak or write about the crimes that set this collapse in motion, but it's another and far more damaging thing to have well-placed experts in finance point the accusing finger at those responsible for the financial crisis.
BUSINESS
By Jim Puzzanghera and Walter Hamilton and Jim Puzzanghera and Walter Hamilton,Tribune Newspapers | March 27, 2009
The Obama administration is proposing the most far-reaching reforms of the financial industry since the Depression - including measures that would for the first time regulate hedge funds and give government the power to seize and dismantle companies deemed a threat to the economy. The measures, which must be approved by Congress, come in the wake of last fall's near-meltdown of the global banking system and in advance of next week's meeting of the Group of 20 economic powers. The key measures outlined by Treasury Secretary Timothy F. Geithner on Thursday include: * Giving the Federal Reserve or another agency the authority to oversee the entire economy for signs of "systemic risk."
NEWS
February 1, 2009
President Barack Obama has vowed to reform financial regulations and tighten oversight of banks to prevent a repeat of the financial crisis that has plunged the U.S. economy into deep recession. It's a promise that must be kept because it is vital to re-establishing the trust of the American people in the stability of the financial institutions that provide the lifeblood of commerce. Members of Mr. Obama's economic team are expected to propose stricter federal rules for hedge funds, credit rating agencies and mortgage brokers, and greater oversight of the complex financial instruments that have contributed to the current economic crisis.