Bye Bye American Pie

obama uaw

Robert Reich: Although the nation is now producing more goods and services than it did before the slump began in 2007, we’re doing it with six million fewer people.

The Root of Economic Fragility and Political Anger

wealth

Robert Reich: We’re back to the same ominous trend as before the Great Recession: a larger and larger share of total income going to the very top while the vast middle class continues to lose ground.

Gulf Oil Spill: The Importance of Presidential Indignation and Explanation

bp oil spill

Robert Reich: Respectful disagreement is virtuous in a democratic society, but so is appropriate indignation. Indignation signals to the public that social responsibilities have been breached, and thereby lends credence and authority to all those who are working toward them. Franklin D. Roosevelt had no hesitancy blaming the “economic royalists” – the rich bankers and executives who stood in the way of the New Deal.

The Housing Crisis and Wall Street Shame

Housing Crisis

The $75 billion federal program designed to bribe banks to modify mortgages has been a bust. No one knows the exact number of mortgages that have been modified (that will be reported next month) but housing experts I’ve talked with say it’s a tiny fraction of the number of homeowners in trouble. Seems that the big banks can’t be bothered.

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