A society where knowledge is irrelevant, replaced by focus-group tested slogans and canned talking points created by and for a bunch of rich people isn’t a democracy.
|By: Mike Konczal Saturday May 4, 2013 1:59 pm|
Robert Kuttner’s Debtors’ Prison ties together many of the individual fights progressives are battling over into a general argument for why our economy is broken 5 years after the Great Recession began. There are those fighting both Republicans and some Democrats on topics ranging from austerity to foreclosure relief and financial sector accountability, while there are fellow activists in Europe fighting against the European Central Bank’s policy of tight money and anti-democratic takeovers of local policy.
|By: Shahid Buttar Wednesday March 13, 2013 4:48 pm|
Last week, Senator Rand Paul (R-TX) forced a long overdue conversation in Washington about checks and balances on executive power. Yet few observers recognize the ultimate importance of his actions, or why the Senate’s confirmation of the new CIA director remained premature.
|By: Brian Sonenstein Tuesday February 26, 2013 6:43 am|
We’re happy to see the Department of Justice take Standard & Poor’s to court — but this civil suit represents just a small step in holding Wall Street accountable for the 2008 financial crisis.
|By: Jon Walker Wednesday February 20, 2013 1:40 pm|
The sequester was created in the most bipartisan way possible. It was a proposal from a Democratic President to find a way around an impasse with House Republicans that both sides each believed would eventually advance their long-term agendas. It was approved by a Republican House, a Democratic Senate and signed by a Democratic President. As a result, everyone will agree this is a truly horrible policy that will needlessly hurt the country, but no one responsible for it will probably ever pay a political price.
|By: David Dayen Monday December 17, 2012 9:05 am|
Where is Patrick Leahy on this? He has made no public statement on the HSBC case, despite being the co-author of the Fraud Enforcement and Recovery Act, which was supposed to deliver funds toward prosecuting fraudulent big bank activity (it never actually did). Grassley, a co-author, has spoken out. Why not Leahy?
|By: David Dayen Wednesday December 12, 2012 12:05 pm|
Maybe at some point, banks will face prosecution or at least fines in the Libor case. Everyone expects UBS, the Royal Bank of Scotland and several others to face some sort of sanction. But we’ve been hearing about imminent charges for months now, with nothing to show for it. Banks have individually terminated people they claim are responsible for the rate-rigging, but that internal discipline has been the only kind on offer.
|By: David Dayen Monday December 3, 2012 2:52 pm|
Late last week, the Justice Department issued a filing that attempts to reinforce the release limitations set by the foreclosure fraud settlement, stopping Wells Fargo from reimagining the deal as a broader release of liability on various mortgage claims. However, a judge will have to make the final decision.
The US sued Wells Fargo in late October over issuing insurance claims on FHA loans while knowing that the loans did not meet underwriting requirements set by the agency. Wells charged in court that these specific charges were covered under the foreclosure fraud settlement. I actually thought Wells made a fairly compelling case on that front, but the DoJ disagrees.
|By: David Dayen Monday December 3, 2012 11:02 am|
Maybe Glenn Hadden getting banned from trading will somehow create the long-absent deterrent for financial fraud. But actually putting him in jail would go a bit further.
|By: Susan Glasser Saturday November 24, 2012 1:59 pm|
There are two key words to keep in mind when reading Thomas Ricks’s important and eminently readable new book, “The Generals”: accountability and relief. Accountability is what set Ricks out on his investigation of America’s military leaders from World War II to the present, as in the missing accountability of our generals for the failures of the post-9/11 decade of conflict in Iraq and Afghanistan. And relief is what Ricks believes has been too often missing, as in the old-fashioned sense of the word and one that is hardly ever used anymore, certainly by the U.S. military: firing.