Richard Eskow: As members of the House Financial Services Committee, the “Hedge Fund 13″ all voted for a Wall Street-backed bill with an Orwellian name: the “Investment Advisers Modernization Act.”
Ellen Brown: As Aristotle told this ancient Greek tale, Midas died of hunger as a result of his vain prayer for the golden touch. Today, the Greek people are going hungry to protect a rigged $32 trillion Wall Street casino.
Randy Shaw: Successful movements must be flexible enough to change tactics in the face of roadblocks, and activists’ camping in public spaces is not strategically necessary for the Occupy movement’s success.
Joseph Palermo: Prosperity never “trickles down.” And people are finally catching on. The housing bubble went too far. It destroyed too many lives and livelihoods to go unquestioned and unpunished, as Wall Street (and Washington) would like it.
Shamus Cooke: Because both parties simply threw money at the banks and hedge funds instead of punishing them, a condition of “moral hazard” was created, meaning, that banks would assume another bailout would come their way if they destroyed the economy again — too big too fail, remember?
Robert Reich: The perfect storm: An unprecedented concentration of income and wealth at the top; a record amount of secret money flooding our democracy; and a public becoming increasingly angry and cynical about a government that’s raising its taxes, reducing its services, and unable to get it back to work.
Ron Wolff: I can’t help wondering how much more I (and millions of other Americans) could be earning from our stock portfolios if the billions of dollars paid in executive compensation (based on rationale that is marginal at best) were distributed to the shareholders.
The latest economic news isn’t pretty. Price inflation is raging everywhere, yet in most housing markets, sales are weak and prices are still in near free-fall. Crude oil and gasoline prices are at record levels and still climbing, despite my recent prediction that oil prices would fall (be patient, they will).