Joseph Palermo: The amazing thing about Mr. Smith’s decision to break the code of omertà at Goldman was the fact that an employee existed there at all who was still capable of making a moral or ethical judgment and could even express something resembling remorse.
Robert Reich: If you took the greed out of Wall Street all you’d have left is pavement. The problem is endemic abuse of power and trust.
Robert Reich: American business won’t and can’t lead the way to more and better jobs in the United States. First, the private sector is increasingly global, with less and less stake in America. Second, it’s driven by the necessity of creating profits, not better jobs.
Robert Reich: Wall Street is its own worst enemy. It should have welcomed new financial regulation as a means of restoring public trust. Instead, it’s busily shredding new regulations and making the public more distrustful than ever.
Robert Reich: President Obama must not be seduced into believing — and must not allow the public to be similarly seduced into thinking — that the well-being of American business is synonymous with the well-being of Americans.
Mike Price: Given Rupert Murdoch’s widely known insatiable hunger for power, reading another story about his carefully constructed Politician Enslavement Program probably won’t shock you out of your ‘jammies.
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.