"Call me old fashioned, but I thought Congress was in charge of passing legislation, not Wall Street."

OK, you're old-fashioned. Congress is merely the errand boy for Wall Street. Or its stenographer. Or where have you been for 30 years? Working inside the government, where no one is permitted to think such thoughts? Then moving on to high profile university positions where it is equally forbidden to hold such heretical views?

Please, Reich, stop acting as if this is some appalling new thing going on. It's been going on right under your nose for decades! Wall Street may be more brazen about how they own Congress than they formerly were, and Dodd may be trying shift all the blame on them, when congress has been a willing and obedient servant to the super-rich and powerful, but it's all old news.

Obama's recent posturing that he's going to come down hard on the Street is little besides phony populist maneuvering so he can keep his impotent majorities in congress later this year. No doubt he's reassuring his Wall Street cash cows not to worry. All this too will pass and they'll get no end of taxpayer handouts from here to eternity. Just go along with the ruse that he's disciplining them for a few months. Let them pick up the Republican whores on K Street for a while, for diversionary blow jobs.

Obama knows that under the present arrangements, exacerbated by the SCOTUS decision last month, he needs to keep all the fat cats firmly on the Dem side of the rotten, festering, money-polluted aisle. He's learning the ropes, from Biden if no one else.

Bob becomes less and less diplomatic every year. Good for him.

I hope he doesn't mind if I edit one of his paragraphs.

"Dodd left out the most telling detail, of course. Wall Street is where the campaign money is. Dodd of all people knows that. He’s been on the receiving end of lots of it over the years just as ninety percent of the Senators and Congressmen in DC have been."

After all, poor Chris can't carry Wall Street's water all by himself.

q

sierra7
Robert Reich is right in trying to educate the public on the enormous corruption in our government.
If you see how he is continually "throttled" by right wing MSNBC business newsies when he tries to get his points across, you have to appreciate his efforts.
He's not naive.
Not by a long shot.

Dodd makes a stinkfest and the rest of Congress grumbles some but then lets Dodd off the hook. Anyone from CT pressuring Dodd to behave or how about electing Ralph Nader to replace him?

I've often wondered why the few like Bernie Sanders, Ron Paul or Dennis Kicinich even have cribs in the big bordello on Pennsylvania Avenue.

Milk and Honey Serfdom empirePie Febraury 5th, 2010

The nincompoop faux republic leaders of nominal Logo land
the bottom feeding sociopathic dunderheads
of leveraged empire,.. carrot led,.. bottom fed
donkeys of preemptive dread
jump to the right of left
for all that’s left
as disorder climbs new heights for the empty caves
of more disaster theft
while more and more are left bereft

The fearful masses huddle by flickering images of Apocalyptic prophecy
spilling ‘milk and honey’
as they descend on freedom’s stairs..

to the serfdom that is theirs

Actually Dodd is blaming the public because he, along with most Democrats, believe that with the amount of money the bankers can throw into electoral politics they can influence public opinion any way they want. So, the stupid and gullible, low information American voter is the one really at fault. Are the Democrats cowards or realists? Are we the public really that stupid? Or could it work the other way--that the public will vote against the candidate with the most blatant support from the financial industry. Oh, I forgot--it will be hidden by front groups and both sides will get heavy support. How will politicians handle that? I know, first take the money then promise reform but give in to those interests after making a few superficial changes. Whose more likely to lie to us Democrats or Republicans? Close call.

The Chinese Communists adopts Capitalism in order to save the State.
The Wall Streets blackmails a socialist bail-out to save Capitalism.
It is a topsy-turvy world.

Well, until the American people move from "frustrated" to "goddamn angry" nothing will change. The blood suckers in Washington and the blood suckers on Wall Street are in cahoots--do you get that America? Then don't go showing them reverence and respect. Call their offices and give their staff some choice words--heck, Rahm Emanuel does it all the time (against liberals). Americans have tolerated theft, usury, murder and lies for too long--at home and abroad. But until Americans realize that politicians are there to serve the American people (and not the banks or Israel), and demand their rights in uncompromising terms, nothing will change. And we'll deserve every crime against us.

How long's it going to be before we realize that politicians are professional actors who are paid to perform convincing dramas of outrage and contrition. We are the audience, but the paymasters live on Wall Street and in the board rooms of Lockheed Martin. Chris Dodd's banker scolding is almost as convincing as Bush's contrition over his "mistakes."

This applies equally to Dodd's histrionics and the Obama Administration, whose feeble threats against Wall Street will collapse within weeks if not days. The purpose of these antics is to stir up drama, to project an image of defiance, one that quickly fade once Wall Street rattles their cage a little.

When Sen Dodd was being exposed in the Hartford Courant, it looks like the Courant entered into a deal with Dodd and Lieberman.While Dodd was being exposed, the comments by readers were in the hundreds, and people were really angry and pissed-off.
The comments came to a screeching halt, and this is how they put a stop to the comments. If you want to comment on a story in the Courant, you must write in your name, rank and serial number, your mother's maiden name, your father's ancestry etc.
They did everything they could to intimidate the readers who chose to print a comment about Dodd. The courant also runs a picture of Dodd and Lieberman in the paper, everyday, free of charge. This is the paper that loves to brag that they are the oldest paper in the country. The paper has destroyed itself.

Professor Reich declares, "Call me old fashioned, but I thought Congress was in charge of passing legislation, not Wall Street." "Ignorant" is the proper call. And the title of this marvelous article--"Who's Killing Financial Reform?"--is like asking who is buried in Grant's tomb. Can you say "dictatorship of the bourgeoisie"?

There isn't much reason to have money in the stock "market".

Ask Bobby if he is so concerned with needed reform, why he doesn't support a Single Payer healthcare plan and Medicare for All? Why is his criticism of corporate America not extend to Big Insurance and Big Pharma? HIs vocal promotion of a discredited "public option" is inconsistent with someone who supports progressive reform in this country. I am coming to the idea that Democracy is neither Left nor Right, but is people and progressive.

Nothing new here... the news sources are slam full of similar examples... utterly depressing... I don't know why, but for some reason my mind resists the explanation that corporate money is the only real explainer of what happens in Washington... maybe it's because if I accept this explanation I can see no way out... what can I do to help move the situation more in the direction of government by the people and for the people?

Not to worry, in nine months Senator Dodd retires and becomes lobbyist Dodd. Once a corporate prostitute, always a corporate prostitute!

Reich served Clinton and played his part in putting the United States on the road to serfdom. What is this little ditty he has penned for our consideration? Why nothing more than another salvo in the Democrat party's propaganda campaign to keep progressives in line and voting "D". (See, we're really with you). Go drink your own Kool-Aid, Mr. Reich. The go bury yourself.

Big Oil, the health care industry, Wall Street, Big Pharma, etc, etc have the Congress in their pockets.

What is the likelihood of these money-grubbing politicians doing the one thing to cure this unholy mess by voting in realistic campaign reform?

SFA - I knew you would agree.

“The refusal of large financial firms to work constructively with Congress on this effort borders on insulting to the American people who have lost so much in this crisis.”

No, Senator Dodd, it does not border on insulting; it borders on "criminal" behavior when Congress hands out taxpayer money by the $Trillions to these cartel casino players and places no oversight, restrictions or rules on them!

As Chairman of the Senate Banking Committee, I should think you would know what the mission of the Federal Reserve Bank is: In case you have forgotten, it is spelled out below:

"Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly."~ Ben Bernanke

Anyone with a brain stem can see that their mission (as set forth by Congress) has been a complete failure in "serving all Americans well and fairly".

“Reason obeys itself; and ignorance submits to whatever is dictated to it.” - Thomas Paine

Dave Ramsey has it right.

First, stop borrowing money and feeding the financial industry (banks and wall street, payday lenders, etc) with your interest payments. You're literally handing them the means (money) with which they beat you down.

Second, vote against the incumbent for every office in D.C.