*+-RJ Eskow: The CEOs of America’s largest corporations have banded together to lecture us on the importance of debt reduction. And despite their lack of qualifications and their very obvious self-interest, the media can’t get enough of them.
*+-Robert Reich: So the race to the bottom is now official. Wall Street will set up its casino wherever financial gambling is least regulated.
*+-Robert Reich: Rather than defending the outsized paychecks of Dimon, Blankfein, and the rest of Wall Street as part of the free market system, the President needs to demand that Wall Street help homeowners on Main Street. The Obama White House should have made this a condition of getting the giant bailouts in the first place. The least it can do now is to is to make the free market system work for everyone.
*+-Joseph Palermo: Unless the Congress moves some progressive legislation quickly there’s going to be trouble this fall because any political party that is stupid enough to allow a couple of shmucks like Joe Lieberman and Ben Nelson, or the outcome of a special election in New England, to unravel its governing coalition doesn’t deserve to be in power.
*+-Joseph Palermo: We can call the 2000s the “Worse Than Zero” decade or the “Big Zero,” or anything we wish, but what characterized it most for me was the near total control of corporations, especially over our civic institutions. All of the terrible economic and governing ideas from the Reagan era crested and then crashed in the last eighteen months leaving something far less than “zero” in their wake.
*+-Is Obama responsible for the meltdown of the Dow? The consistently wrong-headed Wall Street Journal‘s editorial page says so, as does Republican Fox News, CNN’s reliably demagogic Lou Dobbs, and now CNBC (where, full disclosure, I frequently appear as a token liberal). CNBC’s Jim Cramer, who bloviates nightly about stock picks, says Obama is pushing […]
*+-by Robert Reich — First prediction for 2009: A widening gap between the public’s view of the bailouts of Wall Street and Detroit, and the views of the direct beneficiaries. The public believes the bailouts will permanently change these industries, but industry insiders don’t really want to change.