Dan Bluemel: Upset with Wells Fargo’s foreclosure practices, protesters held a demonstration on May Day that briefly shut down one of the bank’s branches in downtown Los Angeles.
Lauren Windsor: Apparently the good life does not extend to Wal-Mart’s workers–half of the company’s one-million American hourly employees earn less than $10 per hour.
Robert Reich: If any three people are most responsible for the failure of financial regulation, they are Greenspan, Larry Summers, and my former colleague, Bob Rubin. In 1999 they advised Congress to repeal the Glass-Steagall Act, which since 1933 had separated commercial from investment banking. By 1999, Wall Street was salivating over such a repeal because it wanted to create financial supermarkets that could use commercial deposits to place bets in the financial casino. That would yield the Street trillions.