A coalition of groups – calling for a closure of California nuclear power plants – will target the Japanese Embassy in downtown Los Angeles Friday (June 22) to protest the re-opening of the nuclear power reactors in Japan.
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.
Shamus Cooke: Working people in the U.S. need to learn to speak Greek, and adopt an increasingly popular slogan that rejects austerity measures: Tax the Rich!
Robert Reich: Let’s also stop hoping Wall Street will mend itself. What just happened at J.P. Morgan reveals how fragile and opaque the banking system continues to be.
Robert Reich: S&P’s intrusion into American politics is also ironic because, as I pointed out recently, much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown.
Tina Dupuy: For the last two and a half years politics has been trash television. We’ve had right-wing stars staying relevant through mudslinging and shamelessness. The tea party wouldn’t be satisfied with just one Snooki. We’ve had fake stings by phony pimps and ideology-driven hoaxes. Astroturf is being sold as organic outrage.
Ed Rampell: Oliver Stone’s Wall Street: Money Never Sleeps is a bold, visually stunning movie and the best critique of the capitalist system and its 2008 financial meltdown since Michael Moore’s Capitalism: A Love Story.
Seth Hoy: While Governor Brewer’s opening remarks meltdown is at least understandable, her inability/refusal to defend controversial anti-immigrant statements—which has become the centerpiece of her re-election platform—is not.
Jules Siegel: Rahm Emanuel must make an accommodation with Dean. Otherwise, 2010 is going to be a repeat of Massachusetts, and Barack Hussein Obama will probably be a one-term president. The most troubling aspect of Massachusetts is that the GOP now has a viable presidential candidate and his name is Scott Brown. This is not Sarah Palin. This is a very astute politician who looks like a Ken Doll and can talk like a sane person when he wants to.
Robert Reich: As long as income and wealth keep concentrating at the top, and the great divide between America’s have-mores and have-lesses continues to widen, the Great Recession won’t end — at least not in the real economy.
The right idea is to break up the giant banks. I don’t often agree with Alan Greenspan but he was right when he said last week that “[i]f they’re too big to fail, they’re too big.”
Republicans thought the “just say no” strategy that killed the Clinton plan would also work in 2009. But they forgot that this strategy now lacks the element of surprise, and that the Internet now prevents the corporate media from entirely controlling the debate.
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 […]