Tax code favors debt over equity, fattening bank profits and weakening the financial system.
Aided and abetted by Congress, the Securities and Exchange Commission deregulates as if the financial crisis never happened.
In an effort to wind down the bank bailout program, the government is trying to sell its preferred stock holdings of the remaining smaller banks, but the potential losses from the auctions could be in the hundreds of millions of dollars.
About The Trade
Recent Stories by Jesse Eisinger
- The Fed Hates To Burst Your Bubble
- The Sorry State of Bank Apologies
- Big Investors Push for Auditors to Sign Financial Statements
- Mary Jo White was Supposed to Turn Around the S.E.C. She Hasn’t.
- Does Valeant’s Cost-Cutting Go Too Far?
- BlackRock Doesn’t Need A Scarlet Letter
- The Justice Department’s Foreign Aggression