What Is The Fed’s ‘Quantitative Easing’ Policy?

A new poll shows that one of the Federal Reserve’s most high-impact policies is poorly understood by the American people.

Frederick Reese
By Frederick Reese

On Wednesday, Federal Reserve Board Chairman Ben Bernanke announced the first reduction, or “tapering,” in the Fed’s monthly security purchase plan, known as “quantitative easing.” Wall Street has forecasted that the cutback will amount to $10 billion out of the Fed’s current $85 billion Treasury and mortgage-backed security purchase per

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New Capital Requirements Would Make Big Banks More Responsible For Their Investments

Many in Washington are desperate to find a way to safeguard the economy from the recklessness of the “too big to fail” banks.

Frederick Reese
By Frederick Reese
Protesters Richard Hanzel, left, Brendan Hutt, and Richard Shavzin, right, of the Screen Actors Guild, dressed as wall street bankers, march from Goldman Sachs' office to a rally in Federal Plaza demanding Wall Street reform, Wednesday, April 28, 2010, in Chicago. (AP Photo/M. Spencer Green)

The Great Recession, which was caused by the largest financial collapse since the Great Depression, has left many in Washington and elsewhere desperate to find a solution that will protect the economy from the recklessness of the “too big to fail” banks. On Monday, the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office

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Governor Christie Slams Third Veto On Foreclosure Assistance Bill

The law would have essentially created a state-run program to buy foreclosed properties and turn them into affordable housing.

Katie Rucke
By Katie Rucke

A piece of legislation in New Jersey that would have essentially created a state-run program to buy foreclosed homes and properties and turn them into affordable housing has been vetoed by Republican Gov. Chris Christie -- for the third time. Christie vetoed the Residential Foreclosure Transformation Act on Monday and told state lawmakers they

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Low-Wage Workers Get Pinched As Banks Impose Fees On Payroll Cards

Companies can save thousands of dollars by switching to a paperless prepaid card option while banks collect fees from card users.

Martin Michaels
By Martin Michaels

Millions of low-wage workers are being hit with fees just to access their paychecks. It’s an increasingly common trend at companies that are turning to prepaid cards instead of paper paychecks or direct deposit to distribute wages.  Walgreens, Taco Bell and Wal-Mart have already adopted the prepaid cards for most employees, and many other

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Despite Regulations, Banks Continue To Flaunt National Housing Rules

The nation’s largest banks are violating the $25 billion settlement that was supposed to end the practices that led to mass foreclosures.

Martin Michaels
By Martin Michaels

A report published this week shows that four of the nation’s largest banks are continuing to violate the $25 billion National Mortgage Settlement, which was supposed to end the unscrupulous practices that contributed to the wave of home foreclosures after the 2008 financial crisis. The Washington Post reports that at least 60,000 consumer

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Protesters Clash With Police Ahead Of G-8 Summit

Anti-capitalist and environmentalist demonstrations against the summit of the Group of Eight major nations are already underway.

Martin Michaels
By Martin Michaels
Britain G8 Protests

Police raided and arrested 57 protesters Tuesday ahead of the summit of the G-8 group of major industrial nations next week in Northern Ireland. The raids could be a harbinger of much larger protests by environmental and anti-poverty groups, in keeping with the widespread protests these meetings have drawn in previous years. The Guardian newspaper

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