online.wsj.com — Right now, it might be the Republicans who seize the opportunity to capture public outrage by denouncing concentrated economic power, insisting on holding big business accountable, and promising to settle scores with the nation's erstwhile financial rulers. It will be the greatest burst of fake populism in a decade, but Democrats will find it hard to respond in kind.
Health care reform suffered the torments of partisan obstruction. Now gird yourself for financial reform and the perils of bipartisan blight.
In health care, lockstep Republican opposition caused months of delay, and empowered the likes of Connecticut's embittered Senator Joe Lieberman and Nebraska's compromised Ben Nelson to exact cankerous concessions to forge a super-majority.
Co-directors Robert Borosage and Roger Hickey look back at the progressive movement in 2009 and discuss what it will take to win the political challenges of 2010. They argue that the past year has shown the necessity of an independent progressive movement to hold President Obama to his promises and to hold Congress accountable to the people. more »
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truthdig.com — How depressing that a man who was elected as a consequence of one of the boldest grass-roots populist campaigns in this nation’s history should now feel obligated to offer the disclaimer that “I did not run for office to be helping out a bunch of fat cat bankers on Wall Street.”
thenation.com — Most of the "reforms" in the financial regulatory legislation approved by the House on December 11 are so mild that the savviest of the nation's big bankers will be breathing sighs of relief. Bank and insurance company lobbyists have plenty of openings to game the system in their favor. And they could get even more as the Senate weighs reforms and then the legislation moves into a House-Senate conference.
Federal Reserve Chairman Ben Bernanke employed his characteristic smoothness and conciliatory nature as he navigated the questioning at today's confirmation hearing before the Senate Banking Committee, helped by the largely gentle questioning by Democrats on the committee. more »
Senator Bernie Sanders has announced he will put a hold on the Bernanke nomination. Sanders wants the Finance Committee to hold serious hearings probing Bernanke's actions leading up to the financial collapse, and the emergency measures he took, committing literally trillions to bolster private financial institutions without a vote of Congress. more »
There was a major victory for accountability this week in the financial reform fight, but there was also a demonstration that when it comes to protecting the profits of bankers at the expense of ordinary people, no institution does it better than the Party of No. more »
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