Wall Street

Thanks to Occupy Wall Street, in the State of the Union this week President Obama struck some of his most populist themes yet. He wants to tax millionaires, bring back manufacturing and prosecute the big banks. He touted his Wall Street reforms saying the big banks are “no longer allowed to make risky bets with customers deposits” and “the rest of us aren’t bailing you out ever again.” more »

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I hate to sound Pollyanna-ish, but sometimes the sunny point of view turns out to be right.

Yes, corporate money has hijacked democracy. And it's true that our two-party system often fails to offer real choices or reflect the will of the majority. Our corporate political system doesn't have a problem. It is the problem. more »

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In the iconic Christmas film, “It’s a Wonderful Life,” an angel offers the beleaguered main character, George Bailey, the stark choice between a hometown named for a cruel banker or one created by and for the middle class.

The banker’s town, Pottersville, is filled with bars, gambling dens and despair. more »

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A couple of days ago, my friend Lambert Strether raised this question about transitioning to a Modern Monetary Theory-based approach to fiscal policy in the United States:

“Could a "debt jubilee" be a useful demand in a transition to MMT? I think it would certainly have broad appeal. more »

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I want to thank you, thank you
Thank you, thank you,
Thank you, thank you,
Thank you, thank you. ~ Natalie Merchant, “Kind and Generous”

This week’s holiday mandates giving thanks. For many Americans, that is complicated by the harsh years since 2008. more »

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Wall Street waged war on the American economy and middle class with its reckless gambling.

It wasn’t Fannie Mae or Freddie Mac that crashed the economy. It wasn’t the federal government. It wasn’t hapless homeowners who were sold mortgages they couldn’t afford. more »

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Voting doesn’t work anymore. If it did, Americans would get what they want -- or at least some of it -- from Washington.

But they don’t. more »

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The G-20 meeting in Cannes got underway yesterday. The sunny beach resort, playground to movie stars and media moguls was an odd choice for a somber G-20 meeting. As President Obama and Treasury Secretary Tim Geithner touched down in Air Force One, the Greek government was on the verge of collapse, austerity was sweeping Europe and the future of the Eurozone in doubt. more »

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Americans have been worshiping a bull. Too many citizens, and particularly politicians, prostrate themselves to Wall Street’s bronze idol.

They revere financial titans who pay themselves and their minions millions to manipulate money and gamble recklessly. more »

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Republicans jammed together a mess of old, failed and vague schemes and called it a jobs bill. Sen. more »

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