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Next Year’s Budget Debate May Be Total Mess by Stan Collender, OurFuture.org | November 6, 2012
Originally published at Capital Gains and Games. read more »Romneyism by Robert B. Reich, robertreich.org | November 5, 2012
By now, in these last remaining days before the election of 2012, we have learned enough about the beliefs of the Republican presidential candidate to see them as a worldview all its own – a kind of creed that explains Mitt Romney. Those who say he has no principles are selling him short. Despite its contradictions and ellipses, Romneyism has an internal coherence. It is different from conservatism, because it does not intend to conserve or protect any particular institutions or values. It is also distinct from Republicanism, in that it is not rooted in traditional small-town American values, nationalism, or states’ rights. The ten guiding principles of Romneyism are. read more »Notes for a Manifesto by Robert Kuttner, Huffington Post | November 5, 2012
The enormity of last week's super-storm is just beginning to sink into political consciousness. Hurricane Sandy should transform what Americans expect from their government, and give the party of government activism new force. As soon as the election is behind us, the country faces a major struggle over what the super-storm portends and requires. But that struggle will be as much within the Democratic Party as between Democrats and the right, because of the deadweight of austerity politics. read more »Vote in the Corporate Hall of Shame by Philip Palij, OurFuture.org | November 2, 2012
The Hall is an annual online ballot spotlighting and calling to account the year’s most abusive corporations. Let your voice be heard — vote on your choice for the worst corporation of 2012! read more »Hurricane Sandy's Silver Lining: A Reaffirmation of Progressive Principles by Daniel Marans, OurFuture.org | November 1, 2012
At a time when the country is still reeling from the aftermath of Hurricane Sandy, the storm has reaffirmed progressive principles that have been under attack in recent years. Sandy has, in fact, brought together a trifecta of progressive policy vindications: the dangers of climate silence, the importance of a strong and responsive federal government, and the necessity of collective bargaining rights for workers. read more »Arbitraging Catastrophe: We're All in Danger - And It Could Get a Lot Worse by Richard (RJ) Eskow, OurFuture.org | November 1, 2012
It's a sign of our shadowy times that the latest regulatory "reform" bill hasn't been laughed out of Washington. Same goes for the latest bankers' complaint, this time about being asked to cover their own bets. And if you think it's bad now, wait and see what happens if Romney takes over. Think "global catastrophe." While bank-friendly politicians offer insipid legislation, the world economy is still at risk. And it could get worse. read more »Bringing the Fight to the Billionaires by The Nation, The Nation | November 1, 2012
At a moment when political minds are fixed anxiously on Washington, it’s useful to remember where the real power resides. In this election, wealthy corporations and individuals have shown yet again how they can purchase politicians and pervert the democratic process. Progressives have no choice but to try to counter these forces through massive ground operations at election time, but that doesn’t always work—and even when it does, the rigged game always begins anew the day after, with corporate lobbyists working their magic on many of the same officials progressives just knocked themselves out to elect. So why not take the fight to the businesses and billionaires who are pulling the strings? read more »‘Too Big to Fail’ Remains Very Real by Simon Johnson, economix.blogs.nytimes.com | November 1, 2012
Prominent voices within the financial sector are increasingly insisting on one point: We have ended “too big to fail.” The idea is simple: through a combination of legislation (the Dodd-Frank legislation of 2010) and supportive regulation (particularly regarding how big banks would be handled in the event of “liquidation”), very large financial institutions are no longer perceived by investors to be too big to fail. Unfortunately, while tempting, this idea is completely at odds with the facts. The market perception that some financial institutions are “too big to fail” is alive and well. If you want to remove that perception, you need to break up our biggest banks. read more »Is The Budget 'Crisis' History? by Dean Baker, OurFuture.org | October 31, 2012
Originally published at TruthOut. One of the major growth industries in Washington is the promotion of budget hysteria. Well-funded groups have weekly, if not daily, events designed to hype the country’s budget situation. Much of the national media, most importantly the Washington Post, have enlisted in this effort, devoting both their opinion and news sections toward this goal. Unfortunately for the deficit-crisis industry, the facts may stubbornly refuse to cooperate. Any discussion of the deficit requires separating out the short-term and the long-term story. The short-term story is very simple. The economy collapsed in 2008 when the housing bubble burst. That is the story of the large budget deficits that we have seen in the last five years: full stop. read more »God's Stimulus? It'll Take More Than Just Money to Recover From Sandy by Richard (RJ) Eskow, OurFuture.org | October 31, 2012
Hurricane Sandy was the stimulus nobody wanted. It took a terrible toll in lives, homes, and dreams. For the families who lost loved ones the tragedy will never end. And yet, in a bitter irony, this terrible storm will spur the kind of spending we should have been seeing all along. There will be jobs, at least for a while -- in construction, road work, repair, and other lines of work. read more »
The Latest
Foreclosure: Nationwide Title goes on attack against vocal critics, tampabay.com | December 11, 2010
Foreclosure activity up across most US metro areas, finance.yahoo.com | October 28, 2010
Bank Of America Tries To Frame Foreclosure-Gate As Simply A Case Of Misspelled Names, wonkroom.thinkprogress.org | October 26, 2010
Since the foreclosure fraud scandal — in which banks were caught allowing “robo-signers” to approve potentially fraudulent foreclosure forms — first hit the national airwaves, Wall Street banks have been trying to downplay the extent of the problem, claiming that it only has to do with paperwork mistakes and not a compete disregard for due process and property rights. more »
Corporations Hide Election Spending From the Public Eye, The Nation | October 19, 2010
To avoid angering the public and their investors, some corporate interests are going to great lengths to hide their political spending. These companies have dumped money into nonprofits and trade associations that often have innocuous names like Americans for Job Security or Revere America, but in reality serve to shield donors from accountability for their spending in our elections. more »
Sorkin: Felix Rohatyn Looks Back, and Sighs, dealbook.blogs.nytimes.com | October 19, 2010
Felix G. Rohatyn, one of Wall Street’s last old wise-men, was sitting in his office at Lazard overlooking the Empire State Building on Monday morning. more »
The New Tax Man: Big Banks and Hedge Funds, huffpostfund.org | October 19, 2010
Nearly a dozen major banks and hedge funds, anticipating quick profits from homeowners who fall behind on property taxes, are quietly plowing hundreds of millions of dollars into businesses that collect the debts, tack on escalating fees and threaten to foreclose on the homes of those who fail to pay.
How Do We Judge the Homeowner?, Huffington Post | October 19, 2010
In the rush to foreclosure, the banks and even government officials have been taking the position that the borrower/homeowners are fully to blame for the situations they find themselves in and that the paperwork technicalities just need to be worked out in order for there to be a just outcome, which is to say, a foreclosure.
The Washington Post's Entry in the "How Many Big Things Can You Get Wrong in a Short Article?" Contest, cepr.net | October 19, 2010
The Washington Post appears to have outdone itself in a discussion of the politics surrounding the foreclosure crisis. For beginners, it told readers that:
"Reviving the economy requires repairing the housing market." more »
Bondholders Pick a Fight With Banks, The Wall Street Journal | October 19, 2010
As banks restart foreclosures they had suspended, bondholders are stepping up efforts to recoup losses on soured mortgage portfolios amid concern about sloppy mortgage servicing and underwriting practices. more »
Foreclosure Fortune Buys Bugatti, Yacht, Mansions for Attorney, bloomberg.com | October 19, 2010
For Americans, the foreclosure crisis has wiped out fortunes, bringing destitution and homelessness. For Florida attorney David J. Stern, it has brought mansions, a Bugatti sports car and a luxury yacht. Florida has the third-highest residential foreclosure rate in the U.S., and Stern, 50, has made a fortune off the bust. more »
