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Regulate the Banks? You'll Spoil the Fun
By Robert and Donna Trussell - Politics Daily...
Wall Street Reform: If Obama Can't Win This Message War . . .
By David Corn - Politics DailyLet's review. For years, Wall Street masters of the universe, exploiting the deregulation swing of the 1990s, cooked up various financial instruments that virtually no one could understand -- not even the chief executives of the big firms -- and then when the credit default swaps hit the fan, the collapse of their trillion-dollar casino created a black hole that sucked up much of the economy, destroying more than 8 million jobs. But now that the Obama administration and Democrats in Congress, after bailing out the billionaire bozos, are finally moving to create new rules for the Gang That ...
Elizabeth Warren: Bank Watchdog Who Belongs on Supreme Court
By Donna Trussell - Politics DailyOn Monday CNN reported that Elizabeth Warren, Harvard law professor and chair of the Congressional Oversight Panel for the Troubled Assets Relief Program (TARP), made the short list of nominees to replace Justice John Paul Stevens. What a difference a year makes. I called it here on Politics Daily last May, but back then I was dreaming more than predicting. ...
Could Financial Protection Bill Be a Secret Weapon for Democrats in 2010?
By David Corn - Politics DailyCan one mild-mannered Harvard law professor help the Democrats avoid an electoral calamity this November? It's possible. The person I have in mind is Elizabeth Warren. She chairs the Congressional Oversight Panel, which monitors the TARP bailout. But perhaps more important is her unofficial title: mother of the proposed Consumer Financial Protection Agency. Several years ago -- before the 2008 crash -- she cooked up the idea of a federal agency that would set and enforce rules to protect consumers from the unscrupulous practices of banks, credit card companies, mortgage lenders and other ...
Is Dennis Kucinich Joining the Tea Party Movement?
By Donna Trussell - Politics DailyMy time-space continuum warped when I heard that Dennis Kucinich had talked to tea partiers and found common ground. After the Democratic defeat in Massachusetts last month, Kucinich said, "There's nothing liberal about the bailouts. There's nothing liberal about standing by and watching banks use public money to get their executive bonuses. There's nothing liberal about giving insurance companies carte blanche to charge anything they want for health care...Since when did that become liberal?" A lot of citizens who once stumped for Obama – for change and hope, they thought – feel ...
Vanna White in the White House? How About Bruce?
By Donna Trussell - Politics DailyVanna White, the pleasant letter-turner on the game show Wheel of Fortune, was wildly popular in the mid-1980s. Some surmised that Vanna's appeal stemmed not from her blondness, but rather her blandness. Viewers saw either a girl next door or an irresistible, slightly dangerous hottie, depending on what they wanted to see. So my suggestion for 2012 presidential candidate is: Bruuuuuuce! Yes, Mr. Springsteen. The singer. Well, why not? ...
Test Fight for Obama's New Populism: Consumer Financial Protections
By David Corn - Politics DailySo President Obama wants to be a populist fighter? In the past two weeks, he's proposed slapping the big banks with a bailout tax and implementing restrictions on financial institutions' casino-like activities. He'll probably have to fight like hell to make all this happen, for Big Finance and its lobbyists are not going to play dead or play nice. And there's another important battle-line where Obama may have to engage in rough combat with the big-money crowd: establishing the Consumer Financial Protection Agency. The CFPA is the brainchild of Harvard law professor Elizabeth Warren, who heads ...
Obama, on Anniversary of Wall Street Collapse, Kicks Up Drive to Prevent More Meltdowns
By Lynn Sweet - Politics DailyPresident Obama makes a quick visit to Wall Street on Monday for a lunch-hour speech on the economy. A day short of the one-year anniversary of the fall of financial giant Lehman Brothers, which filed for bankruptcy Sept. 15, 2008, Obama will tell the nation that he believes we are back from the brink.But America is far from economically healthy again, and even with an enormous focus on pending health care legislation, the president wants to keep pressure on Congress to pass his package of financial system reforms while the memory of how close the nation was to another Depression is still ...
An Economic Time-Bomb Being Mishandled by the Obama Administration?
By David Corn - Politics DailyIs there a ticking time-bomb for the US economy? And is the Obama administration, Congress, and the media not paying it sufficient attention? That seems to be the message of a government report released this week that drew not as much notice as it deserves.This is all about those toxic assets--now euphemistically referred to by the US government as "legacy assets"--that were at the core of the economic meltdown. Though some economic news of late has been not so bad--economic contraction slowing, job losses leveling off, banks passing stress tests--these toxic assets still pollute the nation's ...
Elizabeth Warren for the Supreme Court
By Donna Trussell - Politics DailyIf you don't recognize the name or face of Elizabeth Warren, then you've not been watching the news the last few months. (And these days, who can blame you?) ...
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