Bank Eat Bank: Bailout Encourages Mergers

By  Danielle Ivory  Lagan Sebert on Nov 21, 2008

With newfound bailout money in their wallets, big banks have been rushing to gobble up smaller ones. At the center of these mergers is the Treasury Department, led by Goldman Sachs alums Henry Paulson and Neel Kashkari. While neglecting struggling homeowners they have created major incentives for widespread bank consolidation, which could lead to a host of new problems. And, as members of Congress recently noted, Treasury officials seem to be making the rules up as they go

Follow Danielle's reporting on twitter.

Follow Lagan's reporting on twitter.

Foreclosed Mother Keeps Home... For Now

By  Steven Greenstreet on Oct 22, 2008

Last week, ANP reported on the foreclosure of Jocelyn Voltaire in Queens Village, NY and the impending auction of her house. Since the report aired, a national grassroots effort to save her home was launched. In this piece, we report on the outcome of said initiative and delve deeper into a connection between Jocelyn's mortgage company and Goldman Sachs.

Foreclosed Home Front: One Mother’s Struggle

By  Steven Greenstreet on Oct 17, 2008

Today Jocelyn Voltaire will lose her home . . . unless bloggers and activists can intervene.  On Wednesday, ANP reported on the economic plight of people in Hempstead, NY, the location of the third and final presidential debate between Barack Obama and John McCain.  Jocelyn's story in particular inspired an outpouring of support on the web.   Jocelyn fell victim to a predatory loan that ANP has traced back to Goldman Sachs, the Wall Street firm whose CEO, Lloyd Blankfein, made over $70 million last year.  We will continue following this story.

Byron Dorgan’s Crystal Ball

By  Lagan Sebert on Oct 01, 2008

Many experts point to the 1999 Financial Modernization Act as a cause of our current financial crisis. Senator Byron Dorgan opposed the act then and predicted our current crisis. More recently he has questioned the $700 billion bailout plan.

VIDEO ESSAY: The End Of Free-Market Fundamentalism?

By  Nick Penniman on Sep 25, 2008

Amid the chaos and chatter about this week's financial bailout, one clear theme emerged in some quarters: The era of free-market fundamentalism is over. But is it, really?