Tag Archives: banking

Art Levine: No Home for Xmas: Can Labor — or Anyone — Stop the Foreclosure Mess?

As Americans head home for the holidays or look forward to a Christmas meal with friends and family nearby, it’s worth remembering that over two million people have had their homes repossessed in the last few years — and another 6.5 million are in foreclosure or will face it soon. Continue reading

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Roderick Spencer: New Orleans; As Important As Ever

The city of New Orleans is hopeless and indomitable. There’s no earthly reason to be optimistic about such a place, unless you find yourself in club Snug Harbor after midnight on a Friday in when Marsalis patriarch, Ellis, is playing with at least three generations of drums, trumpet, sax and guitar; two young black horn players in baggy shorts, a willowy Japanese guitar man, and a nerdy bespectacled white kid coaxing and punishing the little drum set, before giving way to another drum geek who couldn’t stop smiling as he made his cymbals and snare drum sound like a nest of snakes. I was sitting with my friend Steve, a New Orleans sax player himself, and he couldn’t stop whooping and riding his chair like a surfboard Continue reading

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Richard (RJ) Eskow: Blind Trust: Holder’s Bogus "Operation" and Obama’s Wall Street Justice

Here’s something the administration may want to take to heart: Trust is a lot like money. If you spend more than you earn, it could be gone when you need it the most Continue reading

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Jim Worth: Making All the Wrong Moves

When Barack Obama was elected our 44th President it was a great day for America. He was educated, articulate, analytical, and compassionate — all qualities absent in our previous president. Continue reading

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Dennis Santiago: Getting to Yes: Making Responsible Banking Work for Los Angeles, California and the Rest of "Main Street" America

Election week is done. It’s time to get back to the business of finding real solutions for our nation’s economic recovery. Continue reading

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Elizabeth Warren Gets A Thumbs Down From Newspaper Funded By Billionaire Pete Peterson

The Fiscal Times , an online newspaper funded by Blackstone co-founder and former Council of Foreign Relations chair Peter Peterson, has published two articles in four days which cast some doubt over Warren’s bid to become the first head of the Consumer Financial Protection Bureau. A feature entitled, “Elizabeth Warren: Candid, Gutsy, and Making Enemies,” written by Eric Pianin and published last Friday, describes Warren as having a “school-girl hair cut” and “habit of saying ‘golly’.” It cites an anonymous source criticizing Warren’s embrace of behavioral economics: Warren adheres to behavioral economics theory where basically consumers are [considered] misinformed, irrational and can’t really make decisions in a clear-eyed way, so the only way to really protect the consumers is to make sure the government is in there rationing credit cards that are available to them,” said an industry group expert who declined to be identified in discussing her group’s views on Warren Continue reading

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Diane Francis: Obama, Grumpy Old Men and Detroit

“Obama is the maid after Led Zeppelin’s been in the room” — comic Bill Maher This is the best description of the mess that the President inherited from the cowboy capitalists who let the banking system run amok and opted for the Iraq war instead of health care. It is the moral compass to many Americans. Witness that Obama’s approval rating of 47%, mid-term, is equivalent to Reagan’s and other popular presidents at this point in the presidency Continue reading

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Lincoln Mitchell: Obama’s Fleeting Progressive Promise

Frustration with the Obama administration from the left due to the failure of the administration to embrace and implement a progressive program seems to be increasing. It is now clear that while Obama is a far better president than his immediate predecessor, an extraordinarily low bar to be sure, he will not be the progressive leader for which many had hoped during the campaign Continue reading

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Zach Carter: There Are Zero Good Reasons To Block Elizabeth Warren

No reformers question whether Elizabeth Warren is the best candidate to head the new Consumer Financial Protection Bureau. She’s a lauded scholar, an inspiring advocate who will draw talented and dedicated reformers to the new agency and she came up with the whole idea for creating the CFPB in the first place. Continue reading

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Danny Schechter: The "War" On Wall Street May Be Over: Who Won?

By Danny Schechter Author of The Crime Of Our Time An unusual word crept into the lexicon of the New York Times op-ed page, the arbiter of approved thought in the age of economic collapse. The new conservative columnist Ross Douthat dusted off a key phrase associated with Marxism, “class war.” Of course, as you would expect, Karl was spinning again in his resting place at London’s Highgate cemetery by the Timesman’s spin. But in a country where, officially at least, the only classes are found in schools, the very idea of class war is not something you read about every day, even if the person writing about it is certainly on the wrong side. Continue reading

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