Bam, bam, bam came the knock at Phoebe's door, reverberating through her modest home like angry thunder. The pounding burst a cache of happy memories that could have lasted well past her afternoon coffee.
It is never good to hear that large financial players may have broken the law, and the huge insider trading investigation unfolding on Wall Street is deeply troubling. But the upside to the probe is that it offers a chance to curb the outsized power of hedge funds.
The real mystery of our current economic mess is how quiet progressives are. We seem constitutionally incapable of facing the enormity of the employment crisis. Why? Part of the answer lies in our permanent attachment to the Democratic Party.
Wall Street moguls are confident that Americans will always believe that that the big boys are really worth their money. But for how long? Will the middle class finally get angry at the plutocrats who stole their dreams?
With the Dow trading over 10,700 again, the crisis of 2008 is growing long of tooth. Investors are growing short of memory. And many hedgies, who shuttered their funds due to performance, are making a comeback.
You'd think the Wall Street moguls would be thankful. Not just thankful -- down on their knees kissing the ground taxpayers walk on and hollering hallelujah at the top of their lungs! Instead, they're back to hauling in obscene profits.
You can't buy the kind of free publicity extended by today's New York Times, which quotes extensively from Daniel Loeb's political rant in, "Why Wall St. Is Deserting Obama," a 1,200-word piece devoid of critical analysis.