Why S&P Has No Business Downgrading the U.S.

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Robert Reich: S&P’s intrusion into American politics is also ironic because, as I pointed out recently, much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown.

Politics, Reality Show Style

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Tina Dupuy: For the last two and a half years politics has been trash television. We’ve had right-wing stars staying relevant through mudslinging and shamelessness. The tea party wouldn’t be satisfied with just one Snooki. We’ve had fake stings by phony pimps and ideology-driven hoaxes. Astroturf is being sold as organic outrage.

Wall Street: Oliver Stone’s Das Kapital-ist

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Ed Rampell: Oliver Stone’s Wall Street: Money Never Sleeps is a bold, visually stunning movie and the best critique of the capitalist system and its 2008 financial meltdown since Michael Moore’s Capitalism: A Love Story.

After Massachusetts: What Is to Be Done?

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Jules Siegel: Rahm Emanuel must make an accommodation with Dean. Otherwise, 2010 is going to be a repeat of Massachusetts, and Barack Hussein Obama will probably be a one-term president. The most troubling aspect of Massachusetts is that the GOP now has a viable presidential candidate and his name is Scott Brown. This is not Sarah Palin. This is a very astute politician who looks like a Ken Doll and can talk like a sane person when he wants to.

Progressives Mobilize to Save Obama, Democratic Party

Clockwise from top: Nancy Pelosi, Jed Lewison, Howard Dean and Jane Hamsher.

Republicans thought the “just say no” strategy that killed the Clinton plan would also work in 2009. But they forgot that this strategy now lacks the element of surprise, and that the Internet now prevents the corporate media from entirely controlling the debate.

Does the Obama Plan for Reforming Wall Street Measure Up?

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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 […]

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