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September 9, 2009 | By Nancy Cleeland | Events[watch event video below] A handful of financial institutions that grew enormous through leveraging and the use of complex derivatives were at the heart of the U.S.
September 9, 2009 | By Nancy Cleeland | Economic SnapshotEconomic Snapshot for September 9, 2009 by Nancy Cleeland Total assets held by the nation’s banks have grown dramatically in recent years, from $8.4 trillion at the end of 2002 to $13.3 trillion as of the end of June 2009.
August 14, 2009 | By Nancy Cleeland | Analysis and OpinionThe Obama administration’s proposal to fund a consumer financial protection agency with fees charged to big banks is smart on two counts: Economically, it helps temper the advantages enjoyed by financial institutions considered too big to fail, thereby discouraging their growth to dangerous levels; and politically, it goes a long way toward securing the support of smaller banks that have staunchly opposed a consumer agency on the grounds that it would further disadvantage them.
July 15, 2009 | By Nancy Cleeland | EventsThe second in a series of forums presented by the EPI Bailout Analysis Project This forum examined the Federal Reserve’s role in addressing the financial crisis, its exploding balance sheet, and its penchant for secrecy — which is now coming under increasing fire.
June 10, 2009 | By Nancy Cleeland | Eventsclick here to view video (Flash) click here to download high-res Apple QuickTime (426 MB) Small Enough to Fail: Community Banks in the Bailout On Wednesday, June 10, 2009, EPI hosted the first of a series of forums on the financial crisis.
June 3, 2009 | By Nancy Cleeland | Economic SnapshotEconomic Snapshot for June 3, 2009 by Nancy Cleeland While federal agencies devote trillions of dollars to keep major banks afloat on fears that their failure could unravel the global financial system, small banks that serve local communities—and account for the vast majority of the nation’s 8,000 banks—are feeling the full brunt of the financial crisis.
May 7, 2009 | By Nancy Cleeland | Analysis and OpinionThere is plenty to be skeptical about in the bank stress test results being released today, but one positive development should not be overlooked: The Treasury Department and Federal Reserve have made an unprecedented show of transparency in naming banks deemed to be undercapitalized.
July 15, 2008 | By Nancy Cleeland | CommentaryOpinion pieces and speeches by EPI staff and associates. [THIS PIECE ORIGINALLY APPEARED ON THE HUFFINGTON POST SITE ON JANUARY 15, 2008.] Don’t Wait to Boost the Economy by Nancy Cleeland Almost overnight, the conversation in Washington has moved from placing odds on a future recession to the likelihood that one is already here.
July 14, 2008 | By Nancy Cleeland | CommentaryOpinion pieces and speeches by EPI staff and associates. [THIS PIECE ORIGINALLY APPEARED ON THE HUFFINGTON POST SITE ON JANUARY 11, 2008.] Reinventing Myself in a Changing Journalistic Landscape by Nancy Cleeland Six months ago, I took a buyout from a shrinking Los Angeles Times and wrote about it here.
July 14, 2008 | By Nancy Cleeland | CommentaryOpinion pieces and speeches by EPI staff and associates. [THIS PIECE ORIGINALLY APPEARED IN THE THE LONDON OBSERVER ON MARCH 16, 2008.] The view from America: Down but not downhearted by Nancy Cleeland These are gloomy times for typical Americans, who never fully recovered from the recession of 2001.