If recent resistance by IBEW and UNITE HERE members are any indication, the Times’ BreakingNews folks and corporate America have a long way to go before convincing workers that it is they, rather than their high-paid, amply-bonused bosses, whose compensation should be downsized.
What’s happening to the lives of the legions out of work – particularly the young men and women – has to take second place to the fortune of the President and his party. The human crisis would be real regardless of who is in the Oval Office and is what should move the President and the Congress to do the right thing.
Obama Trapped Behind Wall of Mideast Containment: It’s the Iranians, Stupid. In reality, Obama’s troubles are not caused primarily by “the bad guys,” nor by Israel’s supposed power or that of the domestic “Israeli lobby,” nor even, as some critics charge, his own tendency to vacillate. Instead, he’s trapped in the conundrum that’s built into […]
The public doesn’t know what’s going on because the national media would rather report on the sexual escapades of famous people or social trends or high finance (a recent Pew study of economic reporting shows the vast majority of stories about the Great Recession have focused on Wall Street rather than Main Street).
The 30-year class war the rich launched against the working people in this country (and reached its apogee during the George W. Bush years), has left the middle class reeling and wounded. Only bold federal action that puts something concrete in the palms of middle-class Americans can begin to turn these dire social conditions around.
It is up to us to defend and improve our democracy more effectively than the Germans of 80 years ago. This implies not only vigilance and willingness to do political battle, but as important, a willingness to acknowledge and respond to the real concerns of honest conservatives who might otherwise be seduced by Rush Limbaugh and his colleagues.
In a word: No. The plan doesn’t stop stop bankers from making huge, risky bets with other peoples’ money. It does increase capital requirements and oversight, but it doesn’t require bankers to take their pay in long-term stock options or warrants, and it doesn’t even hint that banks should go back to being partnerships instead […]