RJ Eskow: Many financially sophisticated investors and bankers will say privately that they agree that it’s only a matter of time until the next crisis comes.
RJ Eskow: Dimon isn’t the cause of our economic problems. He’s merely a symptom. He’s no more responsible for the wreckage he leaves behind than a surfer is responsible for the undertow of the wave he’s riding. Dimon may lack moral sensitivity, but then, that’s the character that got him where he is today.
Richard Eskow: Simpson and Bowles, those two hired pitchmen for budget-cutting hysteria, are still hawking an economy-killing product called “austerity economics,” a product that’s designed to benefit their wealthy patrons at everybody else’s expense.
Richard Eskow: The president and his fellow Democrats have agreed to a series of reckless budget-cutting measures instead of fighting for jobs and protecting the social contract, which has deepened and lengthened the lingering recession.
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.
Richard Eskow: So, yes, repeal the sequester. Repeal deficit babble, from the President or anyone else. Repeal the Visigoth Party’s right to ruin the economy. And repeal Tom Friedman too, just on general principle.
Richard Eskow: Here’s the truth: Most minimum-wage workers are adults, the majority of them are women, and many are parents who are trying to raise their children on poverty wages.
RJ Eskow: But the killing ended there. The people of Boston walked the next mile, the 27th Mile. And after the smoke cleared they chose to walk it together, not alone. They looked into that handful of dust and saw hope, not fear.
RJ Eskow: Today’s new corporate-sponsored cost-cutting craze is merely the latest policy designed to enrich a powerful few at the expense of the many, and today’s anti-tax agenda is being used to make sure it succeeds.
RJ Eskow: And when the next crisis comes, “147 people” will react to it exactly the same way they reacted to the last one. You can almost hear them now, can’t you? You can’t blame us, they’ll say. Nobody could’ve seen this coming. How do we know that?
RJ Eskow: We’ve been saying for years that JPMorgan Chase is fundamentally a criminal enterprise, that “Obama’s favorite banker” Jamie Dimon is a fraud, and that “America’s best bank” is a nest of venality and criminality.
RJ Eskow: Politicians and regulators serve criminal banks for the very same reason that Willie Sutton robbed them: That’s where the money is. If these senators don’t figure that out pretty soon, they’re going to have to go to the people to raise money.
Richard “RJ” Eskow: There’s no quicker way to become completely untethered than to read economic reports, including the latest one from the Congressional Budget Office, and then watch the political debate go on as if reality didn’t even exist.