The Lion and the Ox: The Winter of Our Discontent

Gary Corseri: In this winter of our discontent, the war clouds gather and austerity miseries grind the souls of those who have no homes, or broken homes. We’re in a poisoned mine shaft and the canaries are singing. … Can we interpret their varied notes in time?

Anthony Weiner Hands Republicans a Twofer

andrew breitbart

Joseph Palermo: The credibility of Anthony Weiner’s loud liberal voice in the House of Representatives, who recently showed the temerity to take on Justice Clarence Thomas for his conflict of interest in Citizens United, is now toast

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.

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

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.

Friday Feedback: Divestment Is the Answer

Single Payer is by far the best path, actually the only path. The pitch and claim for the Public Option is “Keeping the insurance companies honest.” Really? If I break the law I get prosecuted, fined, and jailed, that simple – do the crime – pay the time or the fine. That should keep them honest. Congress passes laws, and if they violate those or cheat they are out of the game.

The Continuing Disaster of Wall Street, One Year Later

Zombie-Bankers

Let’s be clear: Wall Street today is up to the same tricks it was playing before its near-death experience: Derivatives, derivatives of derivatives, fancy-dance trading schemes, high-risk bets. “Our model really never changed, we’ve said very consistently that our business model remained the same,” says Goldman Sach’s chief financial officer.

Sorry Folks: Happy Days Are Not Here Again

stressed-banks

“Demonizing the bankers as if they and they alone created the financial meltdown is both inaccurate and short-sighted,” Citigroup chairman Richard Parsons told reporters recently. “Everybody participated in pumping up this balloon and now that the balloon has deflated, everybody has some part in the blame.” Oh no we don’t. Talk about dissembling. The truth [...]

Masters of the Universe No More

opulence

By Denis Campbell – New York City suburb, Greenwich, Connecticut, has 55 houses for sale asking $9 million dollars or more. Staff at East Hampton Airport on Long Island, a scene of private Gulfstream jet gridlock, says traffic is down 35%. Bettridge Jewelers on Wall Street sees traffic mostly selling off jewels to make mortgage [...]

Who Builds the Economy? Democratic Presidents Do!

by Richard M. Mathews – I wrote recently about how Democratic presidents create many more jobs than do Republican presidents. What about the rest of the economy? I don’t want to talk down the economy as George W. Bush’s team did when he was running for president in 2000. They insisted that the economy was [...]

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