Reich Urges Obama to ‘Take On Wall Street’
He's not the only one saying this, but considering his background, Robert Reich is a pretty significant voice pointing out how, over a year since things went seriously south on Wall Street, "almost nothing has been done to prevent all hell from breaking loose again."
He’s not the only one saying this, but considering his background, Robert Reich is a pretty significant voice pointing out how, over a year since things went seriously south on Wall Street, “almost nothing has been done to prevent all hell from breaking loose again.” Reich, who served as Bill Clinton’s secretary of labor and is now a professor at Berkeley, has some advice our current president might do well to heed. –KA
Your support matters…RobertReich.org:
What happened to all the tough talk from Congress and the White House early last year? Why is the financial reform agenda so small, and so late?
Part of the answer is that the American public has moved on. A major tenet of US politics is that if politicians wait long enough, public attention wanders. With the financial crisis appearing to be over, the public is more concerned about jobs. Another 85,000 jobs were lost in December, bringing total losses since the recession began in December 2007 to over 7m. One out of six Americans is unemployed or underemployed.
Yet if the president and Congress wanted to, they could help Americans understand the link between widespread job losses and the irresponsibility on Wall Street that plunged America into the Great Recession. They could make tough financial reform part of the answer to sustain-able jobs growth over the long term.
Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
There’s a crucial institution in Washington that few in the media seem to be paying attention to, even as President Trump quietly makes it his own.
A look at the day's political happenings, including a bipartisan agreement reached on immigration reform and Obama and Clinton give a joint interview on "60 Minutes." A look at the day's political happenings, including a bipartisan agreement reached on immigration reform and Obama and Clinton give a joint interview on "60 Minutes."
A look at the day's political happenings, including AIG's decision on whether to join a lawsuit against the government over the financial crisis bailout and the White House's response to a petition to deport Piers Morgan.
A look at the day's political happenings, including Gabrielle Giffords' new PAC, Elizabeth Warren admonishing AIG and Nate Silver talking politics and data analysis on Reddit.
In the ultimate act of corporate greed, the insurance giant--which received a bailout from the government to the tune of $182 billion--is showing what a truly unscrupulous and morally bankrupt organization it is by mulling whether to join a lawsuit against Uncle Sam over unfair bailout terms.
The natural gas industry is waging an aggressive public relations campaign to bolster investor confidence, despite evidence showing that shale gas is an unreliable resource and that the production process releases large amounts of methane into the atmosphere. The natural gas industry is waging an aggressive PR campaign to bolster investor confidence, despite evidence that the production process releases large amounts of methane into the atmosphere.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.