Consumer  advocate Harvey Rosenfield posts weekly: subscribe
The Great Tsunami of 2010
I believe a political tsunami of vast proportions is heading towards Washington, D.C. You wouldn’t know it from its inhabitants, who seem to be unaware of what is coming their way. But unless they wake up and take action to redirect the energy of the approaching wave, we’re going to see a cataclysmic change in Washington next year.





How Wall Street and Washington 
Betrayed  America 
from Essential Information / CEF
Baseline Scenario
Credit Slips



Hidden Cost of Trafficking in Toxic Swaps: $6 Billion

Local government officials bought complex investments they didn't understand. Now taxpayers will pick up the tab, Bloomberg reports.

AIG Promised to Return Bonuses - But Didn't

The Nation's Greg Kaufman recounts the nightmare on Wall Street.

Do We Need Big Banks?

Baseline Scenario examines some of the arguments in favor of "too big to fail' banks and finds that they don't really hold up.

WATCH: Hidden History of Financial Collapse

Frontline airs "The Warning," focusing on how powerful government officials chose to ignore warnings about unregulated derivatives.

How Reckless Strategies Wrecked a Bank

Seattle Times digs into Washington Mutual's demise in a tough, two-part series.

From Watchdog to Pussycat

Though President Obama and the Democrats promise a fierce financial watchdog, what they’re delivering looks like a pretty tame pussycat.

There’s a disconnect between the Democrats’ tough rhetoric about the need for financial reform and the legislation that’s actually making it’s way through Congress.

Look at what just happened to the Consumer Financial Protection Agency during its sojourn through the House Financial Services Committee, under the guidance of its chairman, Rep. Barney Frank.

"My friends, there is good news and bad news. The good news is that the full faith and credit of the FDIC and the U.S. government stands behind your money at the bank. But the bad news is that you, my fellow taxpayers, stand behind the U.S, government."

L. William Seidman, former head of the FDIC

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WOM Editor

Martin Berg posts

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© Consumer Education Foundation 2009

Troubled Finance Firm Seeks Billions More in Aid

If authorities grant GMAC's wish, the government would have a major stake in the company, reigniting debate over the administration's role as a major investor in corporations, NYT reports.