"Words that make actions speak louder."
What we’ve been witnessing in Washington isn’t just political positioning by one party looking to deny the other a victory, although it’s certainly that. We’re also seeing the death struggle of a dying ideology. This ideology provided intellectual cover to business and political elites for decades, but events have proved conclusively that it doesn’t work. […]
Don Blankenship, the man ultimately in charge of Massey Energy’s West Virginia mine where 29 workers died in an explosion April 5, assured financial analysts last week that safety is paramount in his operation. Massey, the country’s fourth largest mining company, issued a statement that same day asserting that a review of conditions in the […]
Senate Republicans have perfected the art of saying no. But in blocking a debate on financial reform, they have begun to imitate Goldman Sachs traders, selling positions that they are betting against. Blocking financial reform is, not surprisingly, financially rewarding, as Republican leaders lease themselves to Wall Street as congressional security guards. But with the […]
Tim Wise says what I was thinking a few weeks ago: What if the tea party was black? Let’s play a game, shall we? The name of the game is called “Imagine.” The way it’s played is simple: we’ll envision recent happenings in the news, but then change them up a bit. Instead of envisioning […]
Yesterday I compared China’s stimulus plan with our own. China made a major investment in public infrastructure but a key strategic part of that was that they focused on developing strategic industries. For example, because China’s government has invested heavily internally in high-speed rail, China is now in a position to bid on our own […]
The Great Recession, new research shows, has left wealth in the United States even more concentrated at America’s economic summit. Average American households have been riding an economic roller coaster over the last quarter century. The stock market has boomed and collapsed. Housing has boomed and collapsed. The entire economy has boomed and collapsed. Where […]
10:00 Goldman Sachs CEO Lloyd Blankfein won’t appear before Levin’s committee until this afternoon, but his written testimony is here: http://hsgac.senate.gov/public/index.cfm?FuseAction=Files.View&FileStore_id=c5099cfc-f6f9-41cb-ad11-aac3dab82fe0 So is that of Goldman CFO David Viniar: http://hsgac.senate.gov/public/index.cfm?FuseAction=Files.View&FileStore_id=96c2e744-76bb-42c0-8928-931e3cbc7314 And this Fabrice “Fabulous Fab” Tourre: http://hsgac.senate.gov/public/index.cfm?FuseAction=Files.View&FileStore_id=8f08ee0a-7c86-4ce7-b7d6-ba44e0c0cbec
Today at the Virtual Summit on Fiscal and Economic Responsibility for People Who Did Not Wreck the Economy hosted by Campaign for America’s Future… Can We Have A Debate? Dean Baker sees the White House debt commission trying to
This morning, the White House debt commission convened and largely presented a skewed picture of America’s finances, with much scapegoating of Social Security and Medicare. This afternoon, Campaign for America’s Future convened top economic experts to offer journalists facts and views that the commission has yet to pursue. Campaign for America’s Future Roger Hickey expressed […]
China and the United States have both engaged in economic stimulus plans. This provides an opportunity to compare, and hopefully to learn. China’s stimulus brought them through the economic crisis, even as they lost some exports because of the slowdown. They made the leap into alternative energy technology, spent $100 billion just for high-speed rail, […]