Break Up the Big Banks?
Washington — Battling across Iowa ahead of the first-in-the-country vote on Monday, Hillary Clinton and Bernie Sanders are dueling on fertile populist ground: resentment against Wall Street, bailed-out big banks and a financial system seen as rigged. Their rhetoric is pungent. The contenders for the Democratic nomination are running neck-and-neck in polls before the caucuses, and the stakes are high. Sanders, the socialist independent...
Consumer Confidential: A Big Political Battle Over Dodd-Frank Financial Reforms Is Coming in 2016
Forgive and forget. Or just pretend that banks’ greedy and reckless behavior never happened. That seems to be the sentiment behind what’s certain to be one of the biggest political battles in 2016: whether we should roll back financial reforms put in place after the financial meltdown that nearly brought the global economy to its knees. At issue is what’s known as Dodd-Frank, aka the Dodd-Frank Wall Street Reform and Consumer...
Chinese Firms Ride Stock Market Roller Coaster
When the Chinese advertising firm Shanghai Longyun — whose name means dragon rhyme — went public on March 24, the stock market was on fire. The company was a family affair. The chairman, Duan Peizhang, and his wife, Fang Xiaoqin, who studied Chinese medicine and worked at a provincial food and drug bureau, held more than half the shares. Other direct and indirect investors included Duan’s brother, nephew, sister-in-law and some other...
