The J.P. Morgan Chase JPM -0.68% & Co. unit whose wrong-way bets on corporate credit cost the bank more than $2 billion includes a group that has invested in financially challenged companies, including LightSquared Inc., the wireless broadband provider that this month filed for Chapter 11 bankruptcy protection.
The full details of JP Morgan’s trading strategy aren’t known, but Wallace Turbeville, a former Goldman Sachs investment banker and currently a fellow with public policy think-tank Demos, doesn’t buy the bank’s explanation that it was simply hedging. “How can you possibly lose that kind of money on a hedge?” he asks. “The answer is, they weren’t off setting risk.
It's no secret that Facebook's IPO will feed one of the most troubling trends in America today: the extreme concentration of wealth in the hands of a tiny elite.
New York— Today, leaders in the House of Representatives introduced a bill that would dramatically expand Americans’ fundamental freedom to vote: the Voter Empowerment Act of 2012 (VEA). The far-reaching reforms reflect the importance of cutting through the needless red tape that is restricting too many eligible Americans’ ability to register and vote. Demos applauds the goals of co-sponsors Reps. John Lewis, James Clyburn, Steny Hoyer, John Conyers, Robert Brady, and Keith Ellison, among others.
Boston, MA – Citing clear evidence that the Secretary of the Commonwealth and the Massachusetts Department of Transitional Assistance (DTA) have violated their federally-mandated responsibilities to offer tens of thousands of public assistance clients opportunities to register to vote, a Massachusetts citizen and two community groups filed suit today for violations of the National Voter Registration Act of 1993 (NVRA).
It’s hard to imagine that an industry that has spent over $28 million on federal and state campaign contributions this election cycle alone would be victimized by government regulation, but that is the cry coming from the oil and gas industry. Well, more accurately, that is the cry coming from politicians in the pockets of those industries.
New York, NY - On May 5 2012, the Connecticut Senate passed legislation introduced by Governor Dannell Malloy, and Secretary of the State Denise Merrill to enact Same Day Registration and online voter registration, effective July 2013 and January 2014, respectively. The bill, HR 5024, had been previously passed by the state House. It now heads to the governor’s desk for his signature, expected later this month.
Attorneys from Demos, Project Vote, and the Lawyers' Committee for Civil Rights Under Law sent a pre-litigation notice letter on Monday to the Pennsylvania Secretary of the Commonwealth charging that the state is failing to provide low-income residents with a legally-mandated opportunity to register to vote.
A coalition of national voting rights groups have secured a landmark settlement with the State of Georgia to ensure that voter registration is offered to all public assistance applicants.
New York – With millions of Americans in danger of being disenfranchised this fall by new and unneeded voter identification laws, a report issued today outlines how state and local organizations can stand up for democracy by helping voters secure the necessary ID.
The derivatives industry is squeezing Washington like a python. Desperate to control the tone and thrust of derivatives regulation, industry lobbyists have been swarming over the Commodity Futures Trading Commission and the Securities and Exchange Commission, each of which is writing derivatives rules as mandated by the Dodd-Frank reform law.
By now it's pretty clear that Mitt Romney's recent claim about female job losses during the Obama presidency has more to do with selective number fudging and electoral pandering than factual accuracy.
Here we go again. Another round of the game we call Congressional Creep. After months of haggling and debate, Congress finally passes reform legislation to fix a serious rupture in the body politic, and the president signs it into law. But the fight’s just begun, because the special interests immediately set out to win back what they lost when the reform became law.