D-Day For Public Employees

wisconsin protestWhat we need is a party that vigorously defends the role of government in society and the working people government serves. Most importantly, this new Democratic/Labor Party would be willing to fight rather than compromise on core principles.

Every time a Democratic politician (including Barack Obama) embraces the false premises of Reaganomics, it undermines the hard work progressives across the country are engaged in every day to push back against the assault on working people and their livelihoods.

Wall Street showed us in 2008 that the white collar crooks that run the “securities” racket are willing to take our society over the cliff if it allows them to pocket a piece of the proceeds as it goes down. Now these same moneyed interests are fighting tooth and nail against the mild regulations of the Dodd-Frank bill. Their puppets in the Congress, like Representative Spencer Bachus (R-Alabama), who chairs the most powerful financial committee in the House, wants to defund the regulators and bank examiners that are part of the desperately needed re-regulation of Wall Street.

joseph palermoSo there you have it. There won’t be enough government regulators to provide adequate oversight to head off the next meltdown and bailout. Wall Street wins, and public employees, who had nothing to do with creating the catastrophe, are paying the price.

Joseph Palermo

Joseph A Palermo

Published by the LA Progressive on February 19, 2011
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About Joseph Palermo

Joseph Palermo is Professor of History, California State University, Sacramento. Professor Palermo's most recent book is The Eighties (Pearson 2012). He has also written two other books: In His Own Right: The Political Odyssey of Senator Robert F. Kennedy (Columbia, 2001); and Robert F. Kennedy and the Death of American Idealism (Pearson, 2008). Before earning a Master's degree and Doctorate in History from Cornell University, Professor Palermo completed Bachelor's degrees in Sociology and Anthropology from the University of California, Santa Cruz, and a Master's degree in History from San Jose State University. His expertise includes the 1980s; political history; presidential politics and war powers; social movements of the 20th century; the 1960s; and the history of American foreign policy. Professor Palermo has also written articles for anthologies on the life of Father Daniel Berrigan, S.J. in The Human Tradition in America Since 1945 (Scholarly Resources Press, 2003); and on the Watergate scandal in Watergate and the Resignation of Richard Nixon (CQ Press, 2004).