A coalition of groups – calling for a closure of California nuclear power plants – will target the Japanese Embassy in downtown Los Angeles Friday (June 22) to protest the re-opening of the nuclear power reactors in Japan.
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.
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.
Seth Hoy: While Governor Brewer’s opening remarks meltdown is at least understandable, her inability/refusal to defend controversial anti-immigrant statements—which has become the centerpiece of her re-election platform—is not.
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.
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 [...]
As the White House unveils its long-awaited proposals to prevent another Wall Street meltdown in the future, keep a lookout for three essentials. Without them the Street will revert to its old ways as soon as the coast clears. In fact, now that the government has bailed out the Street, the biggest banks will take [...]
A few—and only a few—prescient commentators have questioned whether the U.S. can sustain its informal global empire in the wake of the most severe economic crisis since World War II. And the simultaneous quagmires in Iraq and Afghanistan are leading more and more opinion leaders and taxpayers to this question. But the U.S. Empire helped [...]
It’s difficult to make the case that the first $350 billion bailout of Wall Street — so-called “TARP I” — fulfilled its goals, unless one argues that the Street would have imploded without it, which is pretty much what Hank Paulson is saying these days. And since it’s impossible to prove a counter-factual, especially when [...]
by Robert Reich – The government is doing a lousy job helping distressed homeowners. And according to John Dugan, the Comptroller of the Currency, the little that’s been done has had surprisingly little effect. Nearly 36 percent of homeowners holding mortgages whose terms were adjusted to give them more leeway defaulted on payments within three [...]
Here we go again. As the Bush administration did with the Patriot Act and Iraq War resolution, Henry Paulson and Ben Bernanke spent today trying to hustle Congress into new territory using the familiar administration tactic of hysteria. Fortunately, this time it looks as if more than a few members have read the fine print [...]