Ellen Brown: The Goldman Sachs coup that failed in America has nearly succeeded in Europe—a permanent, irrevocable, unchallengeable bailout for the banks underwritten by the taxpayers.
Steve Hochstadt: What does matter in 2011 is that mainstream libertarians and conservatives think a film that portrays Jews as evil monsters bent on world domination is worth showing, praising, and promoting. After decades of retreat, the antisemitism of Ford and Coughlin, and of the Nazis, is back, on a screen near you.
Marian Wang: At the center of the ethics controversy enveloping Rep. Maxine Waters, a California Democrat, is OneUnited, the nation’s largest African-American-owned bank.
Robert Reich: The American people will continue to have to foot the bill for the mistakes of Wall Street’s biggest banks because the legislation does nothing to diminish the economic and political power of these giants.
Joseph Palermo: In 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown , Simon Johnson and James Kwak point out that in September 2008 the high-flying masters of the universe were at their weakest point and had no choice but to do whatever the government demanded of them. Never mind the supreme irony of Wall Street bankers who claimed government had no place interfering in the miracles of the market begging the government to save them, it was at that time when we should have cut them down to size.
Tom Hall: There has been a campaign to politicize loyalty. Those who hate government are loyal. Those who cling to old fashioned ideas that politics should be “of the people, by the people, and for the people” are disloyal. Those who question no-bid contracts for inadequate body armor, unsafe housing for our troops in war zones, or Bush’s $7++ billion gift to Wall Street bankers, are enemies of freedom.
Joseph Palermo: During the Reagan-Bush-Clinton-Bush years the center of American politics was pushed about a hundred degrees to the Right. Obama gets elected and tries to move it about a half degree leftward and all we hear are screams of “socialism!”
This institution deserves the full force of anti-trust law deployed against it. Maybe in open court we’ll get a glimpse into the real workings of this unworthy amalgam of greed and arrogance.
Last week, Senator Jeff Sessions (R-AL) weighed in to express his outrage at the lack of government control which led to the AIG bailout scandal. This isn’t the first time that Sessions has expressed outrage over wasteful spending and lack of government control. Back when the Iraq war was young, news broke that Paul Bremer […]
The election of Barack Obama has generated speculation that he can—and will—emulate the presidency of Franklin D. Roosevelt in the manner in which he manages the problems that overwhelmed George W. Bush in his second term. In The Politics Presidents Make, Stephen Skoronek argues that presidents who come into office opposed to an existing vulnerable […]
Former Treasury Secretary Hank Paulson said last October that the taxpayers shouldn’t fret about putting $250 billion in the nation’s banks: “This is an investment, not an expenditure, and there is no reason to expect this program will cost taxpayers anything.” But a draft report from the Congressional Oversight Panel for the TARP says Paulson […]
It’s difficult to make the case that the first $350 billion bailout of Wall Street — so-called “TARP I” — fulfilled its goals, unless one argues that the Street would have imploded without it, which is pretty much what Hank Paulson is saying these days. And since it’s impossible to prove a counter-factual, especially when […]
Lots of talk this week about the proposed stimulus. One high priority ought to be the most vulnerable members of our society. The safety net created in the 1930s to protect Americans from extreme poverty is in tatters. Now that we’re in the worst downturn since the Depression, that safety net needs mending. This should […]