Richard Eskow: The simple fact remains: Even if our too-big-to-fail institutions each gave us a credible-sounding “living will,” we could never be sure it would actually be implemented successfully during a real crisis. Break Up Big Banks
JP Sottile: Despite the 2008 Wall Street crash and government promises of reform, the old back-scratching ways of special favors and influence are again in vogue – as if they were ever out of style.
Joseph Palermo: Even before we’ve had a chance to recover from the Great Recession caused by their earlier malfeasance, the usual suspects among Wall Street’s “too big to fail” banks continue to plunder our society by artificially driving up commodity prices.
Joe Mathews: Most American newspapers today are owned by little-known rich people or faceless corporations, and it’s rare that papers do things that people love or hate. The LA Times suffers from this same malady: It’s unthreatening and predictable.
Ellen Brown: Interest rate swaps are now over 80 percent of the massive derivatives market, and JPMorgan holds about $57.5 trillion of them.
Joseph Palermo: The evidence is mounting that the 1 percent controls both of our major political parties. And now the corporate wing of the Democratic Party is getting pissy about the “tone” that its standard bearer is showing toward vulture capitalism?
Robert Reich: Obama can can take on Romney and the system that allows private-equity managers to continue to make huge profits at the expense of average Americans.
Joseph Palermo: With new evidence mounting each day that the system is as broken as it was before the meltdown of September 2008 and will likely require another colossal taxpayer bailout at some point, the public might be able to compel even the isolated 1 percenters among Washington’s policy elite to take heed.
Ellen Brown: The creation of credit has too long been delegated to a cadre of private middlemen who have flagrantly abused the privilege. We can avoid the derivatives trap by cutting out the middlemen and creating our own credit.
Sharon Kyle: Kamala Harris’ broad smile and “down home” style was gobbled up by the crowd as members of the African American Caucus listened and showed support for their Attorney General.
Joseph Palermo: The credibility of Anthony Weiner’s loud liberal voice in the House of Representatives, who recently showed the temerity to take on Justice Clarence Thomas for his conflict of interest in Citizens United, is now toast
Peter Dreier: It doesn’t make sense to make severe cuts to state and local budgets only to allow Wall Street banks and their overpaid CEOs to drain billions more from our states.
Peter Dreier: In Los Angeles this Thursday, members of the Alliance of Californians for Community Empowerment (ACCE) — a statewide community organizing group — will sponsor a demonstration at a major bank that will include civil disobedience and probably arrests.