Shadow Banking System: Collateral Damage

ben bernanke

Ellen Brown: The Fed could avoid collateral damage to the shadow banking system without curtailing its quantitative easing program by taking the novel approach of directing its QE fire hose into the real market.

QE Infinity: What Is It Really About?

The Federal Reserve

Ekkeb Brown: Insolvent banks should be put through receivership and bankruptcy before the government takes them over. That would mean making the creditors bear the losses, standing in line and taking whatever money was available, according to seniority.

Ben Bernanke, Bill’s Daughters and the Fed’s “Hard Won Credibility”

ben bernanke

Charley James: Chairman Bernanke may well be boxed in by the Fed’s much-to-cautious ruling board of bank presidents but there’s no reason why he cannot use his very public platform to jawbone the governors into action.

Pulling Back the Curtain on the Wall Street Money Machine

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Ellen Brown: We are indentured to a Wall Street money machine that creates our money and lends it back to us at interest, money our sovereign government could be creating itself, with full democratic oversight and accountability to the people.

Think Occupy Is Dead? Think Again

occupy la

Tim Gatto: We are now receiving major headlines in the mainstream media, and the frightened pawns of the corporate world are fighting back.

Perry Compares Civil Rights Movement to Tax Cuts for Billionaires

David Love: It is not surprising that Perry — whose Texas board of education erased black and Latino civil rights leaders and their accomplishments from the history books — would try to turn the narrative of the civil rights movement into a fight over tax breaks. But it is outrageous, nonetheless.

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Read Our Lips: No New Texans

rick perry pray

Michael Sigman: With Bachmann having no chance to win the nomination, it’s shaping up as a race to the bottom between Romney and Perry, fantasies of a deus ex machina notwithstanding.

Jamie Dimon’s Bizarre Idea About Why Recovery Stalled

jamie dimon

Robert Reich: According to JPMorgan Chase CEO Jamie Dimon, the recovery has stalled because of strict banking regulation. I’m not making this up.

The Wageless Recovery

wall street inflation

Robert Reich: The question on everyone’s mind: Will the Fed signal it’s now more worried about inflation than recession?

America’s Two Economies: Why One Is Recovering and the Other Isn’t

Robert Reich: Inhabitants of the Big Money economy are celebrating Republican wins last week. They figure financial regulations will be rolled back, environmental regulations will be canned, the Bush tax cut will be extended to the top 1 percent, and it will be harder for workers to form unions.

Why There’s An Enthusiasm Gap: An Illustration

wealthy

Robert Reich: Super-rich financiers on Wall Street and top corporate executives have grown richer, though most Americans are getting poorer.

Time to Cut Goldman Sachs and Pals Down to Size

Joseph Palermo: In 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown , Simon Johnson and James Kwak point out that in September 2008 the high-flying masters of the universe were at their weakest point and had no choice but to do whatever the government demanded of them. Never mind the supreme irony of Wall Street bankers who claimed government had no place interfering in the miracles of the market begging the government to save them, it was at that time when we should have cut them down to size.

End the Filibuster and Pass a Lot of Stuff

Joseph Palermo: The Democrats must pass a lot of legislation before the midterms or they’re going to be very sorry. Soon enough, given the Supreme Court’s recent 5-4 ruling in Citizens United v. FEC, we’re going to see campaigns where our choice for U.S. Senator will be between the “Doritos Nacho Cheese Tortilla Chips” candidate and the “Pepsi/Pizza Hut/KFC/Frito Lay/Taco Bell” candidate. Former President George W. Bush is raking in the bucks speaking at the National Grocers’ Association. First he defiled the presidency by getting John Yoo to turn the Justice Department into a law factory for monarchical presidential powers, now he shares the stage as an inspirational speaker with Terry Bradshaw. Our elections are about to become a satirical skit that Stephen Colbert of the Colbert Report did a long time ago.

British Iraq Inquiry Ours Too

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Joseph Palermo: What the United Kingdom is dealing with is the hangover of the crimes of George W. Bush, crimes that have been conveniently swept under the rug on this side of the pond. Blair was Bush’s poodle and now he finds himself in the hot seat defending the actions of his former master. Seeing a former Prime Minister grilled is a wonderful thing. We’d never see a U.S. president in a similar predicament because, ironically, the president is now more of a monarch than any executive in Britain.

How the U.S. Empire Contributed to the Economic Crisis

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A few—and only a few—prescient commentators have questioned whether the U.S. can sustain its informal global empire in the wake of the most severe economic crisis since World War II. And the simultaneous quagmires in Iraq and Afghanistan are leading more and more opinion leaders and taxpayers to this question. But the U.S. Empire helped […]

Media Tries to Undermine Obama Agenda

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Barack Obama has been President for eight weeks, and much of the traditional media remains incapable of making sense of his agenda. In one corner we have hosts like Hardball’s Chris Matthews, who appears to be compensating for pro-Obama campaign comments by giving excessive voice to the president’s critics. Or we have CNN’s John King, […]

If They’re Too Big To Fail, They’re Too Big Period

by Robert Reich – According to Treasury Secretary Hank Paulson, the biggest Wall Street banks now getting money from the government are just “too big to fail.” Fed Chairman Ben Bernanke uses a different euphemism – he calls them “systemically critical.” The point is that if any of them goes down, it could take the […]

Paulson, Bernanke, Try Hustling Congress

Wimpie

Here we go again. As the Bush administration did with the Patriot Act and Iraq War resolution, Henry Paulson and Ben Bernanke spent today trying to hustle Congress into new territory using the familiar administration tactic of hysteria. Fortunately, this time it looks as if more than a few members have read the fine print […]

Congress: Look Before You Leap on the Proposed Wall Street Bailout

I urge you to oppose any bailout for Wall Street firms or investment banks, unless and until they completely open their books to examination by all Americans. President Bush, Treasury Secretary Henry Paulson, and Federal Reserve Board Chair Ben Bernanke appear to be rushing in to accept obligations of unknown size without Congressional authorization and […]

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