Civic-Minded Plutocrats

joseph palermo

Joseph Palermo: Wouldn’t it be something if the Bin Ladens of the world funneled untraceable cash into Republican candidates’ coffers because they know they can count on the GOP to continue the wars in Iraq and Afghanistan, two of their greatest recruiting vehicles?

Halliburton and the Upcoming Election

oil well explosion

Robert Reich: Next Tuesday Americans will be deciding whether to hand over even more of our government to corporations that have been plundering America – such as Goldman Sachs, JP Morgan Chase, Citibank, Wellpoint insurance, Massey Energy, and Halliburton, the giant oil services company.

What Happened to Our Money? Oliver Stone Returns to Wall Street

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Robert Brent Toplin: More than any other current Hollywood director, Robert Stone has dramatized American political, social, and economic history of the past fifty years.

Wall Street’s Global Race to the Bottom

Robert Reich: So the race to the bottom is now official. Wall Street will set up its casino wherever financial gambling is least regulated.

President John McCain’s First 18 Months in Office

ted vaill

Ted Vaill: President McCain has urged that the United Nations move its headquarters out of the U.S., and he has proposed that the U.S. leave the UN, which he calls “useless and corrupt”. He also has refused to meet with most foreign leaders in the White House, or to travel abroad, except for heavily guarded and secret trips to Iraq and Afghanistan.

New Finance Bill: Mountain of Legislative Paper, Molehill of Reform

Lloyd Blankein, Goldman Sachs

Robert Reich: The American people will continue to have to foot the bill for the mistakes of Wall Street’s biggest banks because the legislation does nothing to diminish the economic and political power of these giants.

Movies Ignore Corporate Wrongdoers, Populist Messages

Angelina Jolie’s Salt

Randy Shaw: Many believe that Hollywood films provide escapist entertainment, and should not be seen as sending political messages. We are told that studios are about making money, and that they would make tribute films to Karl Marx if that were good for the box office. Well, the historic record and the films of 2010 say otherwise.

The Other Lincoln

Robert Illes: But thank you Madame Lincoln for the clarity of the political landscape, and the Democratic Party. This insane healthcare debate is when we knew the “60-vote majority” was useless.

San Francisco Values

Lombard Street

H. Scott Prosterman: In some parts of the country, the words “Nancy Pelosi” and “Barbara Boxer” are dirty words. They symbolize divisiveness, alienation, big government, taxes. All over the country people are giving Tea Parties so they can socialize over crumpets and vent their anger about Pelosi and Boxer and their San Francisco values.

Poison Populism: Rand Paul’s Tea Party Brew

rand paul

Bill Londrigan: While some observers have attempted to portray the Tea Party as a populist uprising against the prevailing powers, traditional populist movements support workers’ right to organize. Questions about where the Tea Party stands on workers’ right to organize and collectively bargain for better wages and benefits have now been put to rest – and they are far from any notion of populism!

LA Progressive Articles: June 13 to 19, 2010

Articles by Berry Craig. Tina Dupuy. Michele Waslin. Lawrence Wittner. Ron Wolff. Robert Reich. Anthony Samad. Kamala Lopez. Randy Shaw. Georgianne Nienaber. T. Christian Miller. Andrea Nill. Natasha Minsker. Steve Hockstadt. Mike Price. Tracy Emblem. David Love. Lydia Howell. Blair Fox, Tom Degan, David Love, Seth Hoy, Gary Corseri, Walter G. Moss, Ivan Eland, Joseph Palermo, Georgianne Nienaber, Jim Fuller, Andrea Nill, Michael Sigman

Marcy’s Response to Jane Harman: You’re in the Bubble

marcy winograd rally

Marcy Winograd: my JOBS, NOT WARS campaign against Jane Harman in today’ Democratic Party primary centers around connecting the dots between the trillions we spend on war and the money denied for sustainable job creation, affordable housing, strong public education, and quality health care for all.

Yes on Prop 15: One Small Step for Democracy

Jesse Unruh and Willie Brown, former Democratic Speakers of the California Assembly

Michael Sigman: Californians can do something about time-consuming fundraising, nefarious corporate influence, and obscene personal spending in American politics on Tuesday, June 8. A victory for Proposition 15, the California Fair Elections Act, will mean that the race for the Golden State’s Secretary of State will be a “clean money election” in 2014 and 2018. A small step, but a necessary one.

Wall Street’s Political Poison Still Catnip for Many Incumbents

Robert Reich: Today’s quiz: At a time when California’s Republican gubernatorial candidate Meg Whitman is losing ground to her Republican rival in the primary because of her ties to Wall Street…when Wall Street is political poison, why are politicians still so intent on doing its bidding?

Financial Reform Too Small to Succeed

wall street reform

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.

The White House Should Stop Pandering to the Street; Support Three Critical Banking Reforms

Goldman Sachs

Robert Reich: The White House dismisses all three of these three measures “populist,” as if that adjective is the equivalent of “irresponsible.” But in fact, these amendments are necessary in order to restore trust in our financial system. They would reduce Wall Street’s tendency to take huge risks, pocket the wins, and fob off the losses on the public.

No Goldman at the End of the Rainbow?

goldman sachs

Michael Sigman: Marxist socialism may be dead, but perhaps what Marx called capital’s internal contradictions, illustrated beautifully by the desperation of Goldman and other mega-corporations for short-term profits may, by strengthening the case for fundamental financial reform, bring us closer to a more livable world.

The Rebirth of Regulation

Regulation

Robert Reich: What do oil giant BP, the mining company Massey Energy, and Goldman Sachs have in common? They’re all big firms involved in massive plunder. BP’s oil spill is already one of the biggest and most damaging in American history. Massey’s mine disaster, claiming the lives of 29 miners, is one of the worst in recent history. Goldman’s alleged fraud is but a part of the largest financial meltdown in 75 years.

Friday Feedback: Fighting Over Scraps

Friday Feedback: I saw a great sign downtown today in the Immigration Reform March, “Jose didn’t take your job — Goldman-Sachs did.” It is time that those who are having a hard time began to show the courage to blame the ones who have really trampled on them: Goldman-Sachs, Lehman Brothers, Bank of America, Chase, Exxon, BP, and the filthy rich who didn’t get that way by doing the work

The Importance of Getting Wall Street Out of Washington, and Washington Out of Wall Street

Goldman Sachs Bets Against America

Robert Reich: If Washington knew what was good for it and the nation, it would sever its financial connections with the Street. Better yet, it would enact legislation seeking to limit the impact of private and corporate money in politics. That goal is made more difficult to achieve by the grotesque recent Supreme Court decision (Citizens United vs. Federal Election Commission) holding that corporations, including financial firms, have the right to spend unlimited amounts on political campaigns. But there are ways around this, such as more generous public funding for candidates that choose not to take private contributions. Hopefully as well, the president will nominate Supreme Court justices who understand the importance of public trust in democratic institutions, and the difference between companies and people.

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.

Fraud on the Street

Wall Street Bears

Robert Reich: It’s now clear Lehman Brothers’ balance sheet was bogus before the bank collapsed in 2008, catapulting the Street and the world into the worst financial crisis since 1929. The Lehman bankruptcy examiner’s recent report details what just about everyone on the Street has known since the firm imploded – that Lehman defrauded its investors. Even Hank Paulson, in his recent memoir, referred to Lehman’s balance sheet as bogus.

Taking Money Out of Politics: A Grassroots Effort for Clean ElectionsTaking Money Out of Politics: A Grassroots Effort for Clean Elections

town-hall

Paul Loeb: Nothing makes us feel more powerless than the corruption of our democracy by money. It undermines progress on every issue we face. If America is ever to deal with our critical problems, we’re going to need to sever the links between wealth and politics, a task made more challenging by the recent Supreme Court decision that overturned a hundred years of precedent to increase still further the influence of companies like Exxon, United Health and Goldman Sachs.

From “Fired Up and Ready to Go” to “Tired Out and Staying Home”

Barack

Joseph Palermo: During the Reagan-Bush-Clinton-Bush years the center of American politics was pushed about a hundred degrees to the Right. Obama gets elected and tries to move it about a half degree leftward and all we hear are screams of “socialism!”

One Free Market System for Wall Street, Another for Main Street

Upsidedown-mortgages

Robert Reich: Rather than defending the outsized paychecks of Dimon, Blankfein, and the rest of Wall Street as part of the free market system, the President needs to demand that Wall Street help homeowners on Main Street. The Obama White House should have made this a condition of getting the giant bailouts in the first place. The least it can do now is to is to make the free market system work for everyone.

Democratic “Accomplishments” Not Nearly Enough

Democratic spine

Joseph Palermo: Unless the Congress moves some progressive legislation quickly there’s going to be trouble this fall because any political party that is stupid enough to allow a couple of shmucks like Joe Lieberman and Ben Nelson, or the outcome of a special election in New England, to unravel its governing coalition doesn’t deserve to be in power.

Who’s Killing Financial Reform?

Senator Chris Dodd

Robert Reich: Congress isn’t doing a thing about Wall Street because it’s in the pocket of Wall Street. Dodd’s outburst at the Street is like the alcoholic who screams at a bartender “how dare you give me another drink when all I’ve done is pleaded with you for one!”

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.

Mister Obama, Do You Believe Us Now?

More-Bailouts

Tim Gatto: There’s one way to stop this coup on democracy, and that is for Congress to introduce a law specifying campaign limits and while they are at it, take corporate “personhood” and throw it in the trash bin where it belongs.

Defiant Wall Street Welfare Kings Come to Washington

Lloyd Blankfein

Joseph Palermo: The Democrats ensconce themselves in huge amounts of Wall Street campaign money and in exchange they pursue the short-sighted prerogatives of a bunch of rich guys who have already been bailed out and have shown the world that they’re nothing but a gang of white-collar crooks.

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