Joseph Palermo: Even before we’ve had a chance to recover from the Great Recession caused by their earlier malfeasance, the usual suspects among Wall Street’s “too big to fail” banks continue to plunder our society by artificially driving up commodity prices.
OCCUPY TO SAVE A 79-Year-Old Retired School Teacher’s HOME As Senator and Council Ask for Responsible Banks, Occupy LA Focuses on Foreclosures* Los Angeles – Wednesday, members of Occupy LA will be occupying the foreclosed South Central home of Mrs. Faith Parker, a 79-year-old retired school teacher, who fights eviction as a result of Bank [...]
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.
But with White House Chief of Staff Rahm Emanuel bullying the Senate to cut a deal – any deal – just to save face, the pressure proved too much. Those who hoped Obama would use Rahm to strong-arm a liberal agenda were wrong. If the President really cares about “change,” he wouldn’t have his henchman dampen progressive spirits.
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 [...]