Julie Driscoll: In the “real people” world (not the “corporations are people” world, but the people people world), running up debt prior to filing for bankruptcy would likely be considered fraud.
Kaaren Finney: Romney is asking Americans to believe that while he signed documents affirming he was president, CEO and sole shareholder of a company, he had no involvement in it, and Bain and its investors were comfortable with that arrangement.
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.
Marian Wang: According to a now-departed Justice Department official who used to be in charge of investigating such matters, the Justice Department has decided that holding top Wall Street executives criminally accountable is too difficult a task.
Robert Reich: The Court thinks corporations have First Amendment rights to spend as much as they want on politics, and Romney (and most of his fellow Regressives) think they need lower taxes and fewer regulations in order to be competitive. These positions are absurd on their face.
Robert Reich: The perfect storm: An unprecedented concentration of income and wealth at the top; a record amount of secret money flooding our democracy; and a public becoming increasingly angry and cynical about a government that’s raising its taxes, reducing its services, and unable to get it back to work.
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.
itigroup — the giant Wall Street bank still on life-support courtesy of $45 billion from American taxpayers — wants to pay its 25 top executives an average of $10 million each this year, and award its best trader $100 million. Whaaaaaat?
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 […]