The promise of America is that anyone who works hard and plays by the rules can earn a middle-class life. That promise is betrayed when the system provides a tiny class of Americans with special treatment, including a get-out-of-jail-free card when they commit fraud to make untold millions.
When the assorted Middle Eastern Sheiks, Kings, and Crown-Princes troop to Camp David this week for a meeting with President Obama to discuss America's rapidly warming relationship with Iran, they would do well to recall one of geopolitics eternal truisms.
The past, especially the political past, doesn't just provide clues to the present. In the realm of the presidency and Wall Street, it provides an ongoing pathway for political-financial relationships and policies that remain a threat to the American economy going forward.
No one needs to remind us of the cataclysmic U.S. economic crisis and resulting great recession beginning in 2008, primarily caused by excessive speculation in housing mortgage financing and the leveraging of exotic financial instruments.
If New York AG Schneiderman's proposal becomes law it may create another lucrative revenue stream for potential do-gooders; one that may rival the New York State lottery in payouts.
They've cheated customers and defrauded investors. Now they want to use our legalized system of campaign-cash corruption to protect themselves from the very government that rescued them.
It's too early to say we've hit a tipping point, but when big players from big tech to big oil all start to move, it certainly feels like perhaps the times are a changin'.
Heretofore, I'd conceptualized the "morphmom" movement as a growing wave of individual moms who've managed, in a brave new world, to successfully juggle the stay-at-home approach to parenting while at the same time achieving whatever it is they've always wanted to do.
Among those who apparently have not yet benefited much at all, at least so far, are owners of small businesses who would like to keep offering coverage to their employees but can no longer afford it. They can't afford it because insurers keep jacking their rates up so high every year that more and more of them are dropping employee health benefits altogether.
My advice to my fellow progressives: Don't feel sorry for yourselves as the Republicans bask in their victories this week, and stop focusing 100 percent of the time on playing defense. We can win some important fights in the next two years, we just need to craft a strong strategy and go execute it.
The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.
One of NFL Hall of Fame coach Bill Parcell's more oft-used quotes is: "You are what your record says you are." That doesn't just apply to sports teams. Team America's record of late has not been of the champion of the values we say define who we are and what we're about. Our record says more about our real identity more than the one we imagine.
Last week, a massive, steaming heap of a bill made up of what amounts to nearly a year's worth of legislation, along with other garbage in the form of riders that were too noxious to pass on their own, was jammed through Congress under the guise of keeping the government open.
Politicians love to get in front of a parade that is already underway. Let's make that parade. Let's make the fight to #GetMoneyOut cool. I can't help but view this naked grab at money as a conscious last mouth-stuffing, because they know their time is coming to an end.
Elizabeth Warren represents a new politics in which, by challenging the power of the oligarchy, she has the potential of reclaiming the white working class for Democrats and uniting them with the coalition of professionals, single women, gays and minorities who elected Obama.
Remarkably, Goldman Sachs, one of the richest, most powerful, politically connected (aka Government Sachs) too-big-to-fail Wall Street banks, has demonstrated a Teflon-like ability to bounce back from egregious misdeeds, if not outright illegal conduct, and horrible publicity.