Robert Reich: So it must be that he’s counting on public pressure — especially from the GOP’s patrons on Wall Street and big business — to force Republicans into submission.
Worrying about government debt is like worrying about the monster under the bed. The issue isn’t debt, it’s power.
Robert Reich: S&P’s intrusion into American politics is also ironic because, as I pointed out recently, much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown.
Tina Dupuy: Their real goal is the pyrrhic victory of making the President fail because they think the GOP will rise from the country’s ashes.
Robert Reich: Tea Partiers have almost as much contempt for big business and the Street as they do for government. After all, the Tea Party was born in anger over the Wall Street bailout. This is the heart of the civil war in the GOP.
The two most important features of the administration’s plan to help homeowners are, first, its support for amending bankruptcy laws to allow judges to modify mortgages. This will give homeowners bargaining leverage with mortgage servicers (and give the servicers more leverage with securitized creditors on up the line) to get better terms; and, second, a […]
by Robert Reich — This is not the Great Depression of the 1930s, but nor is it turning out to be merely a bad recession of the kind we’ve experienced periodically over the last half century. Call it a Mini Depression.