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A First Republic Bank sign.
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First Republic and Our Undemocratic Bailout System

Regulators with no democratic accountability keep bailing out banks and big depositors — at the cost of billions to taxpayers.
Chuck Schumer talks to reporters.
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Democrats Have Been Right to Insist on a Relief Package that Helps Average Americans

In times of crisis, it has often been the wealthy who get bailed out.
Zoology plate of parasitic worms.

Is Finance a "Parasite"?

Tracing financial capital—from J. P. Morgan to BlackRock.
The Tontine Building, Wall Street, New York, 1797.

From “Boring” to “Roaring” Banking

On the mechanics of Wall Street’s influence on key institutions of American democracy, from the New Deal to today.
The Federal Reserve building under ominous black clouds.

The Federal Reserve Exists to Protect The Economic Status Quo

What is the Federal Reserve, and who put it in charge? Is there no other way to fight inflation? Just what the hell is going on here?
Bank of England.

The Invention of Money

In three centuries, the heresies of two bankers became the basis of our modern economy.
Crowd at New York's American Union Bank during a bank run early in the Great Depression.

Rewarding Risk

Federal deposit insurance and the 1980s bank crisis.

The 2008 Crash: What Happened to All That Money?

A look at what caused the worst economic crisis since the Great Depression.

Ten Years After the Crash, We Are Still Living in the World It Brutally Remade

A seismic reading of the financial earthquake and its aftershocks, including those that still jolt us today.

How Obama Destroyed Black Wealth

The nation's first African-American president was a disaster for black wealth.
Six-panel illustration of debtors' prisons.

I.O.U.

What replaced imprisonment for debt was something that has become a mainstay of American life: bankruptcy.
Protesters and tenants facing displacement hold placards as they attend a rally against private equity-backed firm Greenbrook Partners in Brooklyn, New York on October 15, 2021.

Shared Terrain

The neoliberal order has been exposed as fraudulent, inefficient, and inequitable. Yet it hardly lies in the dustbin of history.
Oil painting of two storm-tossed ships on a churning sea.

Startup Imperialism: Venture Capital and the Age of Exploration

A re-examination of the Age of Exploration may have more than a little to teach us about modern venture capitalists.
Artwork featuring a backhoe at a residence, a burning hundred dollar bill, and a padlocked storefront.

The Kingdom of Private Equity

The 2007–2008 crisis was an epic clusterfuck. The rise of private equity has only made things worse.
Art depicting Jimmy Hoffa pulling the lever of a slot machine.

What Happened in Vegas

The Teamsters and Jimmy Hoffa—with a little help from the mob—built Las Vegas as we know it today.
Aerial view of a combine harvester in a grain field.

Abolish the Department of Agriculture

The USDA has become an inefficient monster that often promotes products that are bad for consumers and the environment. Let’s replace it with a Department of Food.
Children's coloring sheets of overturned police cars.

Magic Actions

Looking back on the George Floyd rebellion.
President Biden in a warehouse
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Government Has Always Picked Winners and Losers

A welfare state doesn't distort the market; it just makes government aid fairer.
Comic with Donald Trump at the head of a White House conference room.

The End of the Businessman President

Donald Trump’s catastrophic tenure will be the nail in the coffin of the worst idea in politics: that the government can be run like a corporation.

The Depression-Era Book That Wanted to Cancel the Rent

“Modern Housing,” by Catherine Bauer, argued—as many activists do today—that a decent home should be seen as a public utility and a basic right.
Federal Reserve building.
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The Fed Could Undo Decades of Damage to Cities. Here’s How.

The bond market has fueled vast inequities between cities and suburbs — especially in smaller locales.
Entrance to CitiBank branch.

Nationalization Is as American as Apple Pie

Nationalization may seem like an alien idea in the hyper-capitalist United States. But the country has a long history of nationalizing all sorts of industries.

After the Financial Crisis, Wall Street Turned to Charity—and Avoided Justice

Giving in millions has a way of erasing harm done in billions.
Fannie Mae sign.

Fannie, Freddie, and the Destructive Dream of the 'Ownership Society'

Unwinding the mortgage giants won't cure Americans of their desire to own a home, whether they can afford it or not.
Trucks and cars moving on the highway

Keep on Truckin’

The road to right-wing deregulation began on our nation's highways.

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