Joseph Palermo: The financial reform legislation currently winding its way through the Congress is a step in the right direction but it retains too much of the status quo that brought down the economy in the first place. The key problem, as many economists have been telling us, is that the top financial institutions remain “too big to fail.” Congress can enact all the regulations it wishes but even the best written rules won’t be enough to prevent another financial meltdown.
Carl Bloice–September is four months away and one thing is certain: the public is not be adequately alerted to the seriousness of the situation and mobilized to do anything about it. We would know far less about how critical things are in the schools had not students in California – where thing are really rough – set off nationwide protests about the cutbacks. And, as soon as that happened, on cue, voices popped up to declare that the protesters were deficient because they had no real analysis of the cause of the crisis and offered no solutions. The obvious response was: so what? Isn’t it the job of professionals in politics and government to provide those things?