Our Incredible Shrinking Democracy

Democracy

*+-Robert Reich: It seems as if more and more decisions that should be made democratically are being shunted off somewhere to a few people who make them in back rooms. Which programs should be cut, which entitlements pared back, and what taxes raised in order to reduce the long-term budget deficit? Hmmm. Let’s convene a commission and have them decide.

Stimulus Plan: The Need and the Size

sinkingeconomy

*+-The core problem we face is not access to capital. The Treasury has already flooded Wall Street and the banking system with money, committing nearly $350 billion; the Federal Reserve Board has exchanged Treasury bills for some $2.2 trillion of troubled assets; other agencies, such as the FDIC, have guaranteed trillions more. But there has […]

Bloomberg Sues The Fed For Disclosure

*+-by Charley James — Lost in the wake of Henry Paulson’s announcement Wednesday that Treasury is “changing direction” in how it doles out money in the bank rescue plan is a little-noticed lawsuit filed last Friday by Bloomberg LP, the business news wire service. It is suing the Federal Reserve Board’s governors for public records […]