You must be able to live with the knowledge that while you were making $900,000 an hour, more than 29 million other Americans had no job at all or were forced into part-time work....
Champions of financial reform who fought hard for a strong Wall Street reform bill this year know they cannot let down their guard. They are tracking and countering the moves of the big banks as they try to weaken the Dodd-Frank law during the implementation phase. They are bracing for a battle with Republicans who are threatening to repeal key parts of the law. more »
American taxpayers bailed out the big banks. Now many of those banks are returning the favor by extending credit to payday lenders who sucker consumers into a spiraling debt trap.
That is the claim in a new report published this week by National People’s Action (NPA), the Chicago-based community organization. more »
Letting too big to fail banks fail, any way you look at it, is a disaster. We should be better than that. Getting to the point where these behemoths take on the persona of gambling clubs and effectively gambling with public money is and was a massive failure in institutional management for the Republican and Democrat government and financial management for the banks.
marketwatch.com — Paul Stockman: the GOP should file for bankruptcy
...Stockman rushes into the ring swinging like a boxer: "If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation's public debt ... will soon reach $18 trillion." It screams "out for austerity and sacrifice." But instead, the GOP insists "that the nation's wealthiest taxpayers be spared even a three-percentage-point rate increase."
A thought provoking analysis of economic forces at large in the world.
"The most important thing is being too big to fail. Everyone's talked about Bank of America and Citigroup and the rest being too big to fail, but no, no, no," he says. "The most important point, and I'm amazed that no one's brought it up, is that the US must be perceived to be too big to fail..."
greenchipstocks.com — The combined effect of the US fossil fuel majors stranglehold over the development of the US energy industry has consequences. This article shows how the third world is building and using clean energy infrastructure for itself and in some cases selling their oil back to an addicted developed world and US in particular.
Ben Bernanke thinks we are idiots—or that we have the attention span of a tadpole. Or he mistakenly read a speech written in 2006 when Alan Greenspan was still the Maestro. more »
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