All Articles on Economy

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Obama's Half-Baked Bank Reform
For Real Reform, Glass-Steagall Must be Brought Back
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Banks 'Too Big To Fail' - and They Know It
Financial Crisis Commission Testimony
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Bring Back Glass-Steagall
Last month, Sens. Maria Cantwell and John McCain proposed a measure that would revive parts of the old Glass-Steagall Act, the 1933 law that separated investment from commercial banking. After having been diluted many times over the years, Glass-Steagall was largely repealed in 1999, permitting a...
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McCain Gets It, Obama Doesn’t
Maybe I got it wrong. During the presidential campaign I wrote columns blasting Sen. John McCain for siding with the big bankers on deregulation, citing his choosing ex-Sen. Phil Gramm, currently a vice chairman of the Swiss-owned banking giant UBS, as his presidential campaign chair. Barack Obama...
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An Ungodly Joke
Evidently confusing Christmas with April Fool's Day, the Financial Times has named Goldman Sachs CEO Lloyd Blankfein their Person of the Year, applauding the ethical vaccum that allowed him to post record profits and $23 billion bonuses when so many are suffering. What planet do these people...
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EPA, USDA Push Farmers to Use Coal Waste on Fields
INDIANAPOLIS - The federal government is encouraging farmers to spread a chalky waste from coal-fired power plants on their fields to loosen and fertilize soil even as it considers regulating coal wastes for the first time. The material is produced by power plant "scrubbers" that remove acid rain...
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Obama: I Didn't Run For Office To Help 'Fat Cat Bankers'
President Obama takes aim at "fat cat bankers" and their aggressive lobbying efforts to defeat financial reform in an upcoming 60 Minutes interview set to air Sunday evening. "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street," Obama tells 60 Minutes ' Steve Kroft...
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Split Up The Banks! Restore Glass-Steagall
Ten years ago, the Republican-controlled Congress - egged on by that champion deregulator, former Texas Sen. Phil Gramm - passed legislation that arguably did more to plunge the United States into our crippling great recession than anything else: It repealed the Great Depression era's Glass-...
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Reflections on Glass-Steagall and Maniacal Deregulation
Today marks the 10-year anniversary of the passage of the repeal of the 1933 Glass-Steagall Act and related legislation. It is an anniversary worth noting for what it teaches us about forestalling financial crises, the consequences of maniacal deregulation, and the out-of-control political power of...
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No Armistice In War on Poor
Armistice Day reminds us that when wars end, the winners and losers are supposed to make peace. For the first time, in 2009, leaders of World War II enemies, Germany and France, commemorated the date together as a sign of new mutual respect. But this week also marked the ten-year anniversary of a...
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