Economy and Financial Regulation

Matt Taibbi explains how the investment banks got away with everything, and how they continue to rob the treasury and gamble on America’s future.  One of the must-read articles of the year:

Woops- turns out the Dept. of Labor has been miscalculatinig “productivity” for decades. Maybe it actually wasn’t that efficient to send all those jobs overseas.

“We saved the economy, but we kind of lost the public doing it.” -Simon Johnson

Winners and losers: Senate kills summer jobs program and benefits for the poor with 45 votes; Schumer plans to join Republicans and centrist Dems in killing Wall Street bonus tax:

What if a mass of citizens owned the banks? Imagine that!


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