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By Robert M. Utley
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JPMorgan Chase CEO Jamie Dimon may be less concerned with the actual $2 billion his bank lost than the credence it lends to calls for tougher regulation.
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Flickr / stevendamron
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Essayist, Yale English professor and TomDispatch contributor David Bromwich takes a careful accounting of the “sacked” and “saved” members of the Obama administration in an attempt to reveal the similarities between his presidency and George W. Bush’s. (more)
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AP / J. Scott Applewhite
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By Robert Scheer — Maximizing corporate profits at taxpayers’ expense is what top CEOs are good at, and after all it was Jeffrey Immelt who presided over GE when it got so heavily into the subprime mortgage business that it needed a government bailout to avoid bankruptcy. This was before Obama made him a trusted adviser.
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AP / Cliff Owen
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By Robert Scheer — Paul Volcker, or the “big guy,” as President Barack Obama refers to the former Federal Reserve chair who heads his Economic Recovery Advisory Board, nailed it in a series of blistering remarks on the sorry state of our economy.
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AP / Gerald Herbert
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By Robert Scheer — Finally President Barack Obama has come to his senses on financial regulation. His endorsement of what he calls the “Volcker Rule” for once puts him squarely on the side of ordinary Americans as opposed to the banking bandits who have so thoroughly fleeced the public.
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AP / Wong Maye-E
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President Barack Obama might have done well to keep former Federal Reserve Chairman Paul Volcker in closer reach during his first year of office rather than rely on the dubious advice of Timothy Geithner and Lawrence Summers. Too late for that—but hopefully not too late for Volcker to help the president in his future dealings with Wall Street.
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group30.org
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Former Federal Reserve Chairman Paul Volcker said Tuesday that the U.S. was already in a recession, despite the efforts of the U.S. government and other nations’ leaders to intervene. “I have seen a lot of crises but I have never seen anything quite like this one,” said Volcker, who headed up the Fed for eight years before Alan Greenspan took over in 1987.
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Three Questions Left Unanswered by Obama’s Counterterrorism Speech
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