Progressive Media Advocates
RJ Eskow: Will Kamala Harris hang tough in her new lawsuit against JPMorgan Chase, the first to target individual bankers accused of defrauding the public? If so, it would be the first time in five years that executives at a major bank have personally paid a price for their misdeeds.
Robert Reich: The American people will continue to have to foot the bill for the mistakes of Wall Street’s biggest banks because the legislation does nothing to diminish the economic and political power of these giants.
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.
“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 [...]
The real scandal of AIG isn’t just that American taxpayers have so far committed $170 billion to the giant insurer because it is thought to be too big to fail — the most money ever funneled to a single company by a government since the dawn of capitalism — nor even that AIG’s notoriously failing [...]
by Gene Rothman – A new Goldilocks gauge has gripped the Guardians of Greed. Too Big to Fail (TBTF) used to be one size fits all. Big corporations would be bailed out only if they were Big Enough. But now, the fickle public has grown Leery of the Too Large. It may now be seen [...]
by Charley James – In the 1950s, “Engine” Charley Wilson – then chairman of General Motors – said “What’s good for GM is good for America.” We’re about to find out that the reverse is also true.
by John Paul Rossi – The other week, the appeal of the Big Three’’s executives for a $25 billion taxpayer bailout for their desperately ailing firms failed. Neither the fractious lame duck Congress, nor the Bush administration were willing to help.
by Carl Bloice – It is hemorrhaging fast and no end to the blood-letting seems to be in sight. No question, something has to be done about the auto industry. But what?
by John Peeler – Robert Reich, writing on the LA Progressive (November 19, 2008), calls for a “Bottom-Up Bailout,” by which he means not aiding the auto manufacturers, but rather providing direct credit and loan guarantees to small businesses and individuals, and supporting those big companies whose managers and workers are willing to put up [...]
Lauren Steiner: Please help us spread the word across Los Angeles! Come with signs that say “Bruce Karsh, please don’t sell the LA Times to the Kochs” and “Bruce Karsh, our democracy is not for sale” We are gathering Thursday, May 23 for a rally and march.
JP Sotille: Everyone is a potential target in the War on Terror’s lingering “With Us or Against Us” protection racket, and drones are the crooked-nosed enforcers that kill without remorse, without hesitation and without accountability.
Carole Bartolotto: The good news is that you can easily replace cow’s milk with almond, soy, rice, hemp or coconut milk instead. I love Trader Joe’s Vanilla Almond Milk.
PCL offers monthly Open House Events on the 2nd Saturday at 2pm and 3rd Thursday at 6pm. Click here to learn more.
Recent Comments