Category: Wall Street



Because [corporations] have become so international and global in nature, it’s highly questionable whether governments can actually control corporations to a sufficient degree to prevent them from controlling governments,”

 

Corporate Power Decried By Former Lawmaker.


Yes, the rest of the world is watching this embarrassing debt ceiling nonsense, and it is growing dismayed. 

Der Spiegel has a roundup of commentary in German newspapers about the fight, and the universal message is this:

The US is holding the entire world hostage, and it’s the Republicans that are playing with fire.

Read more: http://www.businessinsider.com/its-official-the-whole-world-thinks-republicans-are-dangerous-maniacs-2011-7#ixzz1SCJ8FzLA

 

 

IT’S OFFICIAL: The Whole World Thinks Republicans Are Dangerous Maniacs Threatening Everyone.


Why Gas Is So Expensive Today (Hint: It’s Not Libya) – Chris Peterson.

The current spike in gas prices is not primarily a result of anything to do with the freedom fighters in the Arab world. Nor is it a result of OPEC’s production levels, which would suggest a far lower $/gallon than can be found on the open market.

Rather, the spikes are primarily a result of the speculative market on oil. This speculative market is driven by the practices of the biggest banks, who have special exemptions to treat commodities like a casino, who have zero incentive to appropriately hedge their bets, who do not provide the liquidity they were designed to provide, and who generally provide nothing of value to society except to push prices of things higher and higher so that very rich people will continue to invest with them.


Joe Klein –a way to dramatize the complicated issues at the heart of regulatory reform. The President should appoint Warren. The Senate should be forced to vote on her, so the public will know who really wants to clean up Wall Street and who doesn’t.

Reality Check: Who’s Afraid of Reforming Wall Street? – TIME.


So here’s how it is: They’re as mad as hell, and they’re not going to take this anymore. Am I talking about the Tea Partiers? No, I’m talking about the corporations

Op-Ed Columnist – Obama Versus the Corporations – NYTimes.com.


With all due respect, we can only wish those Tea Party activists who gathered in Washington and other cities this week weren’t so single-minded about just who’s responsible for all their troubles, real and imagined. They’re up in arms, so to speak, against Big Government, especially the Obama administration.

If they thought this through, they’d be joining forces with other grassroots Americans who in the coming weeks will be demonstrating in Washington and other cities against High Finance, taking on Wall Street and the country’s biggest banks.

The original Tea Party, remember, wasn’t directed just against the British redcoats. Colonial patriots also took aim at the East India Company. That was the joint-stock enterprise originally chartered by the first Queen Elizabeth. Over the years, the government granted them special rights and privileges, which the owners turned into a monopoly over trade, including tea.

Bill Moyers Journal: Bill Moyers & Michael Winship: Crocodile Tears on Wall Street.


Wall Street Banks Bet Against the American Dream on Vimeo on Vimeo via Bet Against the American Dream on Vimeo.

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