All posts in tag: Wall Street

Robert Reich ‘The Big Short’ and Bernie’s plan to bust up Wall Street

If you haven’t yet seen “The Big Short” – directed and co-written by Adam McKay, based on the non-fiction prize-winning book by Michael Lewis about the housing and credit bubble that triggered the Great Recession — I recommend you do so.

Not only is the movie an enjoyable (if that’s the right … More >

Robert Reich Hillary, Bernie and the banks

Giant Wall Street banks continue to threaten the wellbeing of millions of Americans, but what to do?

Bernie Sanders says break them up and resurrect the Glass-Steagall Act that once separated investment from commercial banking.

Hillary Clinton says charge them a bit more and oversee them more carefully.

JPMorgan Chase headquarters in … More >

Robert Reich The six principles of the new populism (and the establishment’s nightmare)

More Americans than ever believe the economy is rigged in favor of Wall Street and big business and their enablers in Washington. We’re five years into a so-called recovery that’s been a bonanza for the rich but a bust for the middle class. “The game is rigged and the American … More >

Robert Reich The two centers of unaccountable power in America, and their consequences

There are two great centers of unaccountable power in the American political-economic system today — places where decisions that significantly affect large numbers of Americans are made in secret, and are unchecked either by effective democratic oversight or by market competition.

One goes by the name of the “intelligence community” and … More >

Robert Reich The man who invented ‘too big to fail’ banks finally recants. Will Obama or Romney follow?

I’m in Alaska, amid moose and bear, trying to steal some time away from the absurdities of American politics and economics. But even at this remote distance I caught wind of Sanford Weill’s proposal this morning (July 25) on CNBC that big banks be broken up in order to shield … More >

Robert Reich The most important economic speech of his presidency

The President’s speech today in Osawatomie, Kansas — where Teddy Roosevelt gave his “New Nationalism” speech in 1910 — is the most important economic speech of his presidency in terms of connecting the dots, laying out the reasons behind our economic and political crises, and asserting a willingness to take on … More >

Robert Reich Wall Street is still out of control; break up the banks

Next week President Obama travels to Wall Street where he’ll demand – in light of the Street’s continuing antics since the bailout, as well as its role in watering-down the Volcker rule – that the Glass-Steagall Act be resurrected and big banks be broken up.

I’m kidding. But … More >

Rosemary Joyce Public protest, media, and economic justice

On September 17, a group of US citizens inspired by the successes of public protest in other countries occupied public space on Wall Street, the location in Manhattan that has come to stand for the excesses of the financial sector.

Not only does Wall Street stand for the banks that fueled … More >

Brad DeLong What to do about the debt ceiling

I vote for Calculated Risk‘s Option #1: The Treasury’s lawyers should simply announce at 9 am Monday morning that (a) since the Constitution prohibits questioning the validity of the national debt, and (b) since the continuing resolution that mandates spending through September 30 was passed later … More >

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