Vulture Capitalism: Both Parties Want to Stay on Wall Street’s Good Side

cory booker

Joseph Palermo: The evidence is mounting that the 1 percent controls both of our major political parties. And now the corporate wing of the Democratic Party is getting pissy about the “tone” that its standard bearer is showing toward vulture capitalism?

A Billionaire Comes A’Whinin’

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Joseph Palermo: Apparently for the captains of industry and high finance it’s not enough for Obama to be a faithful servant of their narrow class interests, they also want him to bend down and kiss their rings.

Greece’s Choice — and Ours: Democracy or Finance?

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Robert Reich: Greek Prime Minister George Papandreou decided in favor of democracy yesterday when he announced a national referendum on the draconian budget cuts Europe and the IMF are demanding from Greece in return for bailing it out.

Bloomberg to Treasury

michael bloomberg

Brent Budowsky: Naming Bloomberg Treasury secretary would be a bold move by Obama to seek a post-partisan truce against gridlock in Washington and to escalate an urgent bid to create jobs, revitalize housing and revive the economy.

Behind Europe’s Debt Crisis Lurks Another Giant Bailout of Wall Street

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Robert Reich: Republicans and Wall Street executives who continue to yell about Dodd-Frank overkill are dead wrong. The fact no one seems to know Morgan’s exposure to European banks or derivatives – or that of most other giant Wall Street banks – shows Dodd-Frank didn’t go nearly far enough.

“Jobs Creators” Brand Tarnished

wall street protests

Joseph Palermo: Even hardcore capitalists are displaying a lack of faith in U.S. economic leadership, compounding the legitimacy crisis that has already engulfed millions of less exalted members of the global community.

Will Obama’s Job Speech End Political Gamesmanship?

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Anthony Samad: I’ll be curious to find out how many people were hired from the CBC job fairs around the country. Or was it another “smoke and mirrors” engagement to make politicians look good?

Say It Ain’t So, O!

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Stanley Kutler: Our problems with governance lie far beyond the character of Obama, or with the Lilliputians who run Congress. Our “leaders” will not lead; worse yet, they refuse to honestly confront the nation’s interest or needs.

Obama Is Not Bobby Kennedy

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Brent Budowsky: Ronald Reagan once asked whether voters were better off than they were four years ago. If President Obama believes what Secretary Geithner said Sunday he will be telling many voters in 2012 they will not be much better off four years from now. This is not acceptable.

Can Krugmanomics Be Saved?

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Steven Hill: So according to Krugmanomics, taking on too much debt is not the problem – it’s not being able to pay the debt that is the problem. And Krugman’s solution, apparently, is to be able to depreciate your currency and/or default on your debts, leaving the creditors holding the bag.

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Treasury Slow Fixing Foreclosure Prevention Program

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Marian Wang: By the end of last year, the program had given nearly 1.5 million households “a chance” of a mortgage modification through a trial modification. For most, that chance never turned developed into permanent help.

Fearful “Liberals” Prolong the Corruption

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Jim Fuller: Rather than being genuine political liberals and/or progressives, those self-deluding, unquestioning Obama supporters are far more closely related to the members of the various Tea Party organizations than they are to anyone on the political left.

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.

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.

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.

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.

More Orly Taitz!

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No wonder even Ann Coulter — Ann Coulter! — has distanced herself from Taitz saying, in effect: “I don’t want to encourage that woman, she’s a nutjob!”

Barack Obama’s Latest Appointees

national-defense

Some have looked at the list of Obama’s latest appointees and said that Obama has thrown his supporters under the bus. Others say his selections are nothing less than masterful. We, at the LA Progressive, have decided not to weigh in. . .yet. Instead of giving you our opinion, we’ve compiled a list of the [...]

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