Barack Obama

Once again we're hearing that a foreclosure fraud deal is about to be announced between major banks, the US government, and most or all of the states. We've heard that before, only to have the deadline pushed back so that holdout Attorneys General can be brought on board with the agreement.

Deal, or no deal? We're not sure, but it's certainly possible we'll hear something today, tonight, or tomorrow.

How will we know if it's a good deal for the American people? After all, this is an issue with a lot of moving parts. It includes all of the states and multiple agencies within the Federal government, and involves a multitude of allegations involving several different kinds of crime that come under different jurisdictions. Even the statutes of limitations are a moving target.

That doesn't mean we don't know enough to judge the deal, if and when it's announced. There are well-established facts to guide us, and the principles involved are clear. more »

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The reaction to January's jobs report shows how tragically our expectations have fallen, especially among some Democrats and their supporters. Their cheerleading isn't just bad policy or bad politics, although it is both of those things. It's also callous and insensitive to the misery of millions.

It's important to keep explaining what needs to be done to end that misery. To do otherwise is to serve, however unintentionally, an insidious agenda from the right that would lower our expectations until these tragic levels of unemployment are seen as the "new normal."

An increase in jobs is a good thing, of course, even if it's far from what's needed. Here's something else that was good about the report: Conservatives keep telling us that manufacturing jobs have moved offshore permanently, but 50,000 of them were created last month. Now we can put that argument to bed and can get to work creating more of them. more »

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This is the audio clip of an interview I did for The Breakdown this weekend with journalist and author Michael Hudson, who did a terrific piece on GE Capital's mortgage crisis called more »

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Like a lot of former Obama voters, I've had my issues with the President. Sure, it helped when he sang that Al Green song at the Apollo Theater last week. (Good job, Mr. President! Good pitch and an appropriately understated delivery.)

But in a time of uncertainty people are looking for certitude. In a time of great battles people are looking for strength. They don't just need to hear the words when they listen to their leaders. They need to feel the music.

The State of the Union Address is scheduled for this Tuesday night. The President can go a lot further toward winning over voters who are disappointed, doubtful, or just unenthusiastic, if he chooses an issue that's vitally important to them and offers a clear, strong and unequivocal defense.

Social Security is the ideal issue. It's one of many, according to polls, where both parties are out of step with voters. After seeing their savings, pension plans, and housing values destroyed, people are frightened about their retirement security. They don't hear anybody in Washington offering to protect their benefits.

And to borrow a phrase from Rev. Al, they're tired of being alone. more »

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The Obama White House continues to push for a settlement that would let bankers avoid being punished - or even investigated - for a wave of mortgage-related crimes that includes perjury, tax evasion, and several types of fraud.[1] more »

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In America, when gangs of bullies torment school children, pushing them around and extorting their lunch money, parents know only one response effectively counters the abuse: confrontation. Running, whining, negotiating -- none of that works.

For the past year, since Republicans took the majority in the U.S. more »

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Congratulations, Mr. President. This week you followed your increasingly populist rhetoric with some decisive action on behalf of the middle class. more »

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The other day I was asked what one single thing could do the most to save our economy. What one idea or tool might help us create a more just society? My answer was "shame." more »

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Our lives are defined by invisible wars, wars whose theater of combat is the human imagination. These economic and political wars are waged year in and year out, decade after decade, century after century.

Words are the weapons of choice in these wars, and the corporate-backed radical right adds new ones to its arsenal every year. This year was no different. From "entitlement reform" to "triggers," the corporate oligarchs couched their aggression in decoy language that made it possible for Democrats as well as Republicans to launch them on an unsuspecting public.

But something was different this year. This was the year that the people came up with some words of their own, outside the corporate- and billionaire-funded think tanks of conservatism. For the first time in many years, the right-wing warriors of language ran into heavy resistance. That's an important development that should be celebrated -- and repeated.

War of the Words

The corporatists own the Republican Party, and large swathes of the Democratic Party too. Most Americans disagree with their ambitions, but they've been so good at designing and using these linguistic weapons that the public hasn't had a chance. Major media journalists have used these words as mantras, while too many Democrats have embraced them for their own selfish purposes.

That's why they keep winning so many battles, no matter who's in power.

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(Author's Note: This post updates Part One of a series reviewing Warren Mosler's book: The 7 Deadly Innocent Frauds of Economic Policy. The updating is prompted by more »

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