Tag: Wall Street

We've got to stop Wall Street from bringing us another economic disaster — before it happens.

Tell your U.S. Senators to crack down on Wall Street now.

A real financial reform package must include an independent Consumer Financial Protection Agency, restoration of the Glass-Steagall Act, and strict new limits on the derivatives market.

To protect citizens from rapacious banks, we need a Consumer Financial Protection Agency to stop abusive mortgages and credit card terms, and other predatory financial schemes.

The Glass-Steagall Act, which separated commercial and investment banking, was enacted after the financial crash of 1929, but it was repealed in 1999. It is crucial to preventing the reckless investing by commercial banks that caused some of the greatest financial disasters in U.S. history.

Rampant speculation in the unregulated derivatives market was a major factor in the collapse of the global financial system. We need tough new restrictions on the derivatives market, or speculators will continue to imperil our country's economic stability for short-term profit.

Tell your U.S. Senators today: support strong financial reform now!

  It may be the one-year anniversary of an amazing stock market rally, but economists are sounding rather pessimistic these days.

 A growing expectation of a double-dip recession is evident in a new poll of financial executives…the poll found more than half of financial executives predicting another downturn, and most expecting jobs recovery to lag into 2011.

 The predictions don’t end with just this poll. Nouriel Roubini is also warning of a second leg down, and even more disturbing is this report.

  This may be the only time in my life I will ever utter these words: “We could learn a lot from Indonesia.”

 Indonesian police have used tear gas and water canon to disperse about 2,000 anti-government protesters who tried to enter the parliament building in the capital, Jakarta.

  The scuffles broke out on Tuesday as members of parliament began a debate over the possible impeachment of the country’s vice-president and finance minister.

…

  His vice president, Boediono, and finance minister, Sri Mulyani Indrawati, approved the bailout and opposition leaders have demanded their resignation saying they must be held accountable for losses to the state.

 What an amazing concept!

 Imagine holding politicians accountable for the loss of public funds from controversial bank bailouts in 2008. Imagine the citizens of the nation taking the time off from watching TV to protest the funneling of taxpayer money to wealthy, politically-connected investors.

  I wonder if such wacky ideas could catch on in America?

  Because of the Republicans new found concern for budget deficits, 1.2 million American families will be cut adrift today.

 Nearly 1.2 million unemployed Americans – including 27,000 in Wisconsin – face an imminent cutoff of government unemployment checks if Congress cannot pass emergency legislation to extend federal benefits before funding expires Sunday.

  Senate Majority Leader Harry Reid (D-Nevada) pushed this week for Senate passage of a stopgap 30-day extension of jobless benefits, which also includes a 30-day extension of a federal COBRA health insurance subsidy for the jobless. But as of late Thursday, Sen. Jim Bunning (R-Ky.) objected to each attempt to bring the issue to a Senate floor vote, balking that the measure would further inflate the nation’s debt.

 Remember, this is the same Congress that took less than a week to bail out Wall Street banks for $700 Billion. There were no questions at that time about where to get the money for their criminal friends in banking.

  The Unemployment extension bill is $10 Billion.

Crossposted at Daily Kos.  If you choose to recommend it there, the Rec Button may have been pushed to the bottom after the last diary comment made.

THE WEEK IN EDITORIAL CARTOONS

This weekly diary takes a look at the past week’s important news stories from the perspective of our leading editorial cartoonists (including a few foreign ones) with analysis and commentary added in by me.

When evaluating a cartoon, ask yourself these questions:

1. Does a cartoon add to my existing knowledge base and help crystallize my thinking about the issue depicted?

2. Does the cartoonist have any obvious biases that distort reality?

3. Is the cartoonist reflecting prevailing public opinion or trying to shape it?

The answers will help determine the effectiveness of the cartoonist’s message.

:: ::

Chris Britt, see reader comments in the State Journal-Register (Springfield, IL)

Mr Luntz is at it again, doing what he does best:   Making Stuff Up for purely Politcal Gain!

Wall St Consultant Frank Luntz Pens Memo On

How To Channel Economic Anxiety Into Protecting Wall St Abuses

Lee Fang, ThinkProgress – 02/01/2010

[…] Luntz, who gained national recognition for his role in shaping the buzzword-heavy Contract for America with Newt Gingrich in 1994, has built a sizable business selling his messaging advice to both corporations and Republican campaigns.

The new memo instructs opponents of financial reform to simply lie about reform legislation, and to twist economic anxiety resulting from the recession into fear of any government effort to fix the underlying cause of the financial crisis. The most dishonest argument is that financial reform would “punish” taxpayers while rewarding “big banks and credit card companies.” In reality, top financial industry lobbyists are not only fighting proposed oversight regulations, but have said recently that they are opposed to “any regulation” at all.

http://thinkprogress.org/2010/…

How DOES this Man sleep at night?

Crossposted at Daily Kos

THE WEEK IN EDITORIAL CARTOONS

This weekly diary takes a look at the past week’s important news stories from the perspective of our leading editorial cartoonists (including a few foreign ones) with analysis and commentary added in by me.

When evaluating a cartoon, ask yourself these questions:

1. Does a cartoon add to my existing knowledge base and help crystallize my thinking about the issue depicted?

2. Does the cartoonist have any obvious biases that distort reality?

3. Is the cartoonist reflecting prevailing public opinion or trying to shape it?

The answers will help determine the effectiveness of the cartoonist’s message.

:: ::

Steve Sack, Comics.com

Crossposted at Daily Kos

THE WEEK IN EDITORIAL CARTOONS

This weekly diary takes a look at the past week’s important news stories from the perspective of our leading editorial cartoonists (including a few foreign ones) with analysis and commentary added in by me.

When evaluating a cartoon, ask yourself these questions:

1. Does a cartoon add to my existing knowledge base and help crystallize my thinking about the issue depicted?

2. Does the cartoonist have any obvious biases that distort reality?

3. Is the cartoonist reflecting prevailing public opinion or trying to shape it?

The answers will help determine the effectiveness of the cartoonist’s message.

:: ::

John Darkow, Columbia Daily Tribune, Buy this cartoon

Crossposted from Daily Kos.  I didn’t have the time yesterday to post it here.

THE WEEK IN EDITORIAL CARTOONS

This weekly diary takes a look at the past week’s important news stories from the perspective of our leading editorial cartoonists (including a few foreign ones) with analysis and commentary added in by me.

When evaluating a cartoon, ask yourself these questions:

1. Does a cartoon add to my existing knowledge base and help crystallize my thinking about the issue depicted?

2. Does the cartoonist have any obvious biases that distort reality?

3. Is the cartoonist reflecting prevailing public opinion or trying to shape it?

The answers will help determine the effectiveness of the cartoonist’s message.

:: ::

The Teabaggers’ Intellectual

Clay Bennett, Comics.com