Mark Dempsey: Why does the Finance, Insurance, Real Estate sector, whose frauds caused the current economic meltdown, get trillions at the drop of a hat, and social safety net programs and revenue sharing with states, whose needs are far more modest, get the “one-finger salute”?
The City of LA’s ongoing budget crisis has allowed a triage mentality to permeate throughout City Hall, framing the ongoing debate over our future in the negative and conditioning the public to focus on what they can give up rather than what they want. Each year the Mayor’s office gathers with neighborhood council representatives to […]
Tina Dupuy: Let’s talk news. And where the majority of Americans – as in over 50 percent (by most estimates) – still get their news – from their local nightly news show. Any discussion about how unaware Americans are when it comes to news needs to have its finger pointed at the proper culprit: Your local broadcast.
TEd Vaill: The Republicans should remember that the vote in the 2010 elections, especially in Middle America, was not a vote of support for them, as their approval rating is worse than the Democrats, but it is a sign of huge discontent: a house that is underwater, with no relief from their crushing mortgage debt in sight, a job that has vanished or is in danger of being shipped overseas, diminishing hope that they will be able to afford to send their kids to college, and a feeling that their government has turned a blind eye to their problems.
Jim Fuller: For the first time in the 50-plus years I’ve been paying close attention to the securities markets and banking and looser attention to commodities markets — most of those years covering such businesses for newspapers and magazines — I am close to concluding that the only place for the modest savings of the average Jane or Joe is a tightly sealed jar buried in the garden or an envelope under a mattress. Maybe in a mixture of currencies.
Ten years ago, the story dominating the headlines was Y2K. In 2009, according to Yahoo, the story that dominated in terms of searches online was — wait for it — Michael Jackson’s death! Not the economic meltdown, not the healthcare debate, not even the inauguration of the first black president of the United States!
The public doesn’t know what’s going on because the national media would rather report on the sexual escapades of famous people or social trends or high finance (a recent Pew study of economic reporting shows the vast majority of stories about the Great Recession have focused on Wall Street rather than Main Street).
In a word: No. The plan doesn’t stop stop bankers from making huge, risky bets with other peoples’ money. It does increase capital requirements and oversight, but it doesn’t require bankers to take their pay in long-term stock options or warrants, and it doesn’t even hint that banks should go back to being partnerships instead […]
It’s the kind of thing I expect to hear from deficit hawks and chicken littles — from the self-described “fiscally responsible” right, from the scolds Ross Perot and Pete Peterson, from my former cabinet colleague Bob Rubin. But yesterday I was shown slides developed by the putatively liberal Center for American Progress intended to make […]