Nomi Prins is a senior fellow
at Demos, a nonpartisan
public policy think tank. Before becoming a journalist, she served as
a managing director for Goldman Sachs in New York. She is the author of
Other People's Money: The Corporate Mugging of America, Jacked: How "Conservatives" Are Picking Your Pocket and It Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals From Washington to Wall Street. She is a frequent commentator on CNBC and the BBC.
If banks were people, here's what the full $17.5 trillion bailout would look like.
Instead of facilitating mergers, we should be reregulating the banking industry and enforcing real transparency.
The Treasury Secretary's decision to buy equity stakes in banks still fails to address the fundamental flaws in the system.
Rather than cap CEO pay, link compensation to the systemic risk that permeates our financial system.
The subprime crisis was not just caused by lending run amok, but by
unrestrained trading that made a precarious situation even worse.
OK, market forces control oil prices. But market forces--with a lot of push from Republicans--are driving down the price of gas. And you can be sure they'll rise again after the election.