Wall Street

To convey the significance of the Occupy Wall Street movement, NBC News anchor Brian Williams this week quoted the 1960s Buffalo Springfield song, For What It’s Worth:

“There is something happening here. What it is ain't exactly clear.”

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Wisconsin has been riveted in recent days by reports that more of Governor Scott Walker's top aides may be implicated in a secret "John Doe" investigation into potentially illegal campaign practices during Walker's 2010 gubernatorial race. more »

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Janesville, WI -- As President Obama gets ready for his big jobs speech Thursday, America's nurses have a message for him. "Heal America, Tax Wall Street!" the signs read as nurses rallied in front of 61 Congressional offices recently. The nurses are proposing a bold alternative to the "cut, cut, cut" rhetoric emanating from Washington, D.C and governors across the nation. more »

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Remember The Music Man? That's the musical where a con man tricks an entire town's parents into buying musical instruments they don't need by promising to teach music to their kids. Then he skips town. Only when he makes good on his promises is he forgiven by the town and rewarded with true love.

If today's America was that town they'd have written the Music Man a fat check and promised not to prosecute him. They'd even let him complain to the local newspaper about being called a "con man," the way JPMorgan Chase CEO Jamie Dimon complained to the New York Times about criticism of bankers.

As for those bilked parents and their disappointed kids, Americans in government and the media would undoubtedly say "Serves 'em right."

Problem ...

Serves 'em right. That's the attitude our leaders are taking toward homeowners all across America, millions of whom were bilked by their banks into taking out loans based on inflated housing values. Our government has yet to provide these people with the relief so many of them deserve, even though that would provide the entire economy a huge boost and could create a million jobs every year.

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Celebrate Labor Day. Really, celebrate. It’s important. more »

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Psst! Hey, you! Yeah, you, in the expensive suit. Listen, Mr. Banker, are you worried that a little oversight and enforcement might be bad for business? I hear ya. I really do. But listen ... hey, come a little closer, pal. I won't bite ya! I got an offer and I don't want to shout it.

What you need is somebody who can fix this problem for ya. Permanent-like, if you catch my drift. And I think you do. You don't have to get your hands dirty, neither. I know a guy who knows a guy ... in fact, he knows a lot of guys.

Here's his number. He'll handle it real discreet-like. I know, I know. You don't want your name drawn into this. You like giving those interviews where you play the wise statesman and complain that people aren't nice enough to folks like you.

No, no, that's not how you say it! It's spelled B-O-E-H-N-E-R, but it's pronounced "Bay-ner." He'll be waiting for ya on K Street. Can't miss him: Orange tan. Cries a lot. Likeable as all get-out. Even the Big Guy says he can "do business with him."

Don't worry, pal. Johnny'll get the heat off your back before ya even know it. I know the right folks. We got that Warren lady outta the way this week, right? Now as for that little "bureau" of hers - well, stuff happens, right? There could be a fire, maybe, or an accident. Or maybe some kinda new law, I dunno. Johnny'll think of something.

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July 2, 2011

THE LOGIC OF MARKET UTOPIANISM: WHEN “BUSINESS” TURNS BAD FOR SOCIETY
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Retiring U.S. Senator Kay Bailey Hutchison (R-No Shame, TX) today unveiled a plan to steal Social Security from Americans by cutting their benefits and lying to them about it. more »

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Ten years ago today, the first Bush tax cuts were signed into law. The fiscal damage they have inflicted is still unparalleled. But while the tax cuts for the top 2 percent of American earners will stay off the table until December 2012, there is any number of other progressive tax increases that Washington could adopt, but won't even consider. Below are my picks.

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Federal agencies are now preparing new regulations for enforcing the Dodd-Frank banker pay reforms enacted last summer. These new regs, says the AFL-CIO, need to prohibit the 'incentive' that's still stuffing bankers with billions.

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