Weak Medicine: Obama's Flawed Plan for Reforming the Banks

An excerpt from Robert Kuttner's "A Presidency in Peril: The Inside Story of Obama's Promise, Wall Street's Power, and the Struggle to Control our Economic Future"
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Forging his way through the predictable UK media censorship: Dr Andrew Wakefield Responds to Measles Outbreak in Swansea
An excerpt from Robert Kuttner's "A Presidency in Peril: The Inside Story of Obama's Promise, Wall Street's Power, and the Struggle to Control our Economic Future"
Journalist David DeGraw has put together a devastating report detailing how Wall Street continues to pillage the economy with the government's help. "The staggering level of theft continues unabated," writes DeGraw. "Our future is going up in flames and our government isn’t even making the slightest effort to put out the fire. In fact, they are purposely pouring gasoline all over it."
Deficit hawks aren't interested in the deficit, they just don't like the idea that the government spends money on social projects that help poor people. To close the deficit, we could either raise taxes or cut expenditures, and you never hear deficit haws begging to raise taxes. Here are 10 ways a deficit hawk who didn't hate poor people could ease his anxiety
As we ask ourselves, how we can be experiencing the largest economic meltdown in decades with millions out of work, and millions more losing their homes, and yet, with no real mass mobilization or ongoing response from the progressive world.
The budget for the 2011 fiscal year, which has to be voted by Congress by this Oct. 1, looks to be about $3 trillion, not counting the funds collected for Social Security (since the Vietnam War, the government has included the Social Security Trust Fund in the budget as a way to make the cost of America's imperial military adventures seem smaller in comparison to the total cost of government). Meanwhile, the military share of the budget works out to about $1.6 trillion.
Jamie Dimon is by far the most dangerous American banker of this or any other recent generation.Not only did Mr. Dimon keep JP Morgan Chase from taking on as much risk as its competitors, he also navigated through the shoals of 2008-09 with acuity, ending up with the ultimate accolade of "savvy businessman" from the president himself.
What secrets are hidden in the Federal Reserve's trillion-dollar shadow? Economic recovery depends on confidence, and confidence requires knowledge. But Senators like Chris Dodd and Judd Gregg don't want us to have that knowledge. They don't even want it themselves.
By Naomi Klein, Fourth Estate Posted on January 18, 2010, Printed on January 18, 2010 http://www.alternet.org/story/145218/ In May 2009, Absolut Vodka launched a limited edition line called "Absolut No Label". The company's global public relations manager, Kristina Hagbard, explained that "For the first time we dare to face the world completely naked. We launch a bottle with no label and no logo, to manifest the idea that no matter what's on the outside, it's the inside that really matters." A few months later, Starbucks opened its first unbranded coffee shop in Seattle, called 15th Avenue E Coffee and Tea. This "stealth Starbucks" (as the anomalous outlet immediately became known) was decorated with "one-of-a-kind" fixtures and customers were invited to bring in their own music for the stereo system as well as their own pet social causes - all to help develop what the company called "a community personality." Customers had to look hard to find the small print on the menus: "inspired by Starbucks". Tim Pfeiffer, a Starbucks senior vice-president, explained that unlike the ordinary Starbucks outlet that used to occupy the same piece of retail space, "This one is definitely a little neighborhood coffee shop." After spending two decades blasting its logo on to 16,000 stores worldwide, Starbucks was now trying to escape its own brand.