Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world, ....The best lack all conviction, while the worst Are full of passionate intensity. Surely some revelation is at hand
Isn’t it funny how the Obama administration outlined very rough principles for congress to designing the energy bill and health care reform while for financial regulation congress received an explicit outline of the entire structure down to the letter? more »
alternet.org — What if the bailout actually works? What if the financial sector is saved and the economy returns to the course it was on before the crisis struck? What would that world look like? The answer is that it would look like Sarah Palin. Is that what we want?
The roots of the mortgage crisis, and its devastating effects on communities, are explored by Andrew Cockburn, who co-produced with his wife, Leslie, the documentary "American Casino." The documentary details the fraudulent and unethical practices committed by the nation's top financial institutions that have led to record numbers of foreclosures, especially in people of color communities. more »
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Normally, working-class people don't think much about the Federal Reserve and, as a recent article in The New York Times suggests, the Federal Reserve doesn't spend much time thinking about working-class people. more »
baselinescenario.com — Three big myths about the agency that would protect consumers in the financial marketplace—that it would limit choice and innovation, increase regulatory burdens and improperly separate considerations of financial soundness from consumer protection—are designed to protect the same status quo that triggered the economic crisis.
Now that congressional leaders have named the members of the Financial Services Inquiry Commission—what is often referred to as the "Pecora Commission"—we are going to see once again who is prepared to lay the groundwork for real financial reform and who is goin more »
The administration has rolled out its financial reform plan, which the president accurately calls the "the boldest set of reforms in financial regulation in 75 years."
There's a reason why lawbreakers don't get to negotiate the terms of their punishment or their parole. There is no bartering to be done between the protectors of law and order and the violators of law and order. There are only two basic questions for the person who dared to stand outside the law: What is required of you to atone and what must be done to prevent that lawbreaking from recurring. more »
President Obama's signing of a financial fraud crackdown bill this week has been largely overshadowed by the erroneous and irresponsible rantings of Vice President Dick Cheney and his right-wing fear-monger allies, and that's unfortunate for two important reasons. more »
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