US banks fighting back against change, again

Too big to fail? Bah! Last year was so last year so it's best that we all forget about the worst banking crisis since the Great Depression.
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The Cheney Cocoon

Liz Cheney has become an almost comic echo of her war criminal father. We are nine months into Obama's first term.
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Will Krugman and Stiglitz get invited to the jobs summit?

President Obama recently announced he'll be holding a jobs summit in early December in order to get the best brains in economists and industry together to help figure out how to turn unemployment around faster.
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Bank failures up to 123

The Republican economic model continues to deliver results. No surprise there though continuing the same approach with minor tweaks is a head scratcher.
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Encouraging Words 11/12/09-Strong at the Broken Places

Lori Heine writes for Whosoever.org:The hand of the LORD came upon me, and he brought me out by the spirit of the LORD, and set me down in the middle of a valley; it was full of bones.
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Zenyatta: Why Should We Care About a Horse?

Whenever the U.S. economy is down and out, horse racing always manages to come up with a "feel good" champion that captures the public imagination.
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Unemployed and underemployed hits 17.5%

It's probably the worst jobs market since the Great Depression. The Obama administration continues to buy into the Geithner/Summers/Wall Street view of the world which puts Wall Street above everyone else at the expense of everyone else.
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How The Recession Is Like The Depression

Bruce Bartlett concisely describes why government stimulus was necessary to battle this recession. His bottom line: The main differences between today's crisis and the Great Depression is that the deflationary pressure is less than a third of what it was.
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80 Years Since the Crash of 1929

It’s was 80 years ago this week that the Crash of 1929 kicked off the Great Depression. Not quite 79 years later, the fall of Lehman Brothers on September 15, 2008, sent the stock market into a meltdown precipitated by the crises of such Wall Street Giants as Bear Stears and AIG, among others.
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Bank charge-off rates higher now than during Great Depression

Ug-ly. Again, these are the self-important bankers who keep telling everyone that if they don't get their fat bonus money, they will leave.
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A Conservative Of Doubt

Money Magazine interviews Bruce Bartlett: So are Republicans fighting the last war? What good are tax cuts when people have no income to tax? In this crisis we've run into the same problem we had in the Great Depression: a.
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US falling further behind on Internet speed tests

It really is embarrassing. And the Republicans are focused on killing Chicago's chances at the Olympics, and holding Tea Parties to protest the fact that we didn't go into another Great Depression.
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Financial reform, now

Yet another of many reasons to do financial reform now.There has been a lot of vague angst lately about the lack of progress in reforming the financial sector.
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It’s Genetic: My Family History of Dumpster Diving

My grandfather grew up during the Great Depression and though I have very few memories of him–he died right before my thirteenth birthday–I remember the stories.
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"Socialism" saved Wall Street

Robert Reich: [T]he Dow is up despite the biggest consumer retreat from the market since the Great Depression because of the very thing so many executives are complaining about, which is government’s expansion.
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But I have a job! Watch out for producerism marketed to us gays as acceptance

Michelle Goldberg has a great article up about the rightwing nuts at The American Prospect. She's right - the rightwing grassroots activism we're seeing now is a whole lot less Christian and a whole lot more Confederate than what we've seen since the mid-90's.
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Stiglitz: "For all Obama's talk of overhaul, the US has failed to wind in Wall Street"

Nobel economist Joe Stiglitz writing in the Guardian:: Unquestionably we should not have allowed banks to become so big and so intertwined that their failure would cause a crisis.
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Three more banks go down

No surprise but wow, 92 banks year to date. Regulators closed one large bank in Illinois and two other smaller financial institutions on Friday, pushing the total number of failures this year to 92, according to the Federal Deposit Insurance Corp.
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Taxpayers face losses on Bush's auto bailout... but so what?

Yeah, I read the headline and thought "damn, we got screwed." But you know what, what else were we supposed to do? Potentially two million jobs were at stake, and we were on the brink of a depression.
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Full text of the President's address to Congress on health care reform

Hot out of the email box... THE WHITE HOUSE

Office of the Press Secretary

______________________________________________________________

EMBARGOED UNTIL DELIVERY

September 9, 2009

Remarks of President Barack Obama - As Prepared for Delivery Address to a Joint Session of Congress on Health Care Wednesday, September 9th, 2009 Washington, DC

Madame Speaker, Vice President Biden, Members of Congress, and the American people:

When I spoke here last winter, this nation was facing the worst economic crisis since the Great Depression.
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