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?
Joseph Palermo: Apparently for the captains of industry and high finance it’s not enough for Obama to be a faithful servant of their narrow class interests, they also want him to bend down and kiss their rings.
Robert Reich: Greek Prime Minister George Papandreou decided in favor of democracy yesterday when he announced a national referendum on the draconian budget cuts Europe and the IMF are demanding from Greece in return for bailing it out.
Brent Budowsky: Naming Bloomberg Treasury secretary would be a bold move by Obama to seek a post-partisan truce against gridlock in Washington and to escalate an urgent bid to create jobs, revitalize housing and revive the economy.
Robert Reich: Republicans and Wall Street executives who continue to yell about Dodd-Frank overkill are dead wrong. The fact no one seems to know Morgan’s exposure to European banks or derivatives – or that of most other giant Wall Street banks – shows Dodd-Frank didn’t go nearly far enough.
Joseph Palermo: Even hardcore capitalists are displaying a lack of faith in U.S. economic leadership, compounding the legitimacy crisis that has already engulfed millions of less exalted members of the global community.
Anthony Samad: I’ll be curious to find out how many people were hired from the CBC job fairs around the country. Or was it another “smoke and mirrors” engagement to make politicians look good?
Stanley Kutler: Our problems with governance lie far beyond the character of Obama, or with the Lilliputians who run Congress. Our “leaders” will not lead; worse yet, they refuse to honestly confront the nation’s interest or needs.
Brent Budowsky: Ronald Reagan once asked whether voters were better off than they were four years ago. If President Obama believes what Secretary Geithner said Sunday he will be telling many voters in 2012 they will not be much better off four years from now. This is not acceptable.
Steven Hill: So according to Krugmanomics, taking on too much debt is not the problem – it’s not being able to pay the debt that is the problem. And Krugman’s solution, apparently, is to be able to depreciate your currency and/or default on your debts, leaving the creditors holding the bag.
Marian Wang: By the end of last year, the program had given nearly 1.5 million households “a chance” of a mortgage modification through a trial modification. For most, that chance never turned developed into permanent help.
Jim Fuller: Rather than being genuine political liberals and/or progressives, those self-deluding, unquestioning Obama supporters are far more closely related to the members of the various Tea Party organizations than they are to anyone on the political left.
Joseph Palermo: The financial reform legislation currently winding its way through the Congress is a step in the right direction but it retains too much of the status quo that brought down the economy in the first place. The key problem, as many economists have been telling us, is that the top financial institutions remain “too big to fail.” Congress can enact all the regulations it wishes but even the best written rules won’t be enough to prevent another financial meltdown.