While mainstream America continues to struggle with the recessionary consequences of a meltdown caused by financial excess, large financial institutions are back to profitability and back to their old ways.
We can't solve California's fiscal disaster without addressing the foreclosure crisis. It doesn't make sense to make severe cuts to state and local budgets only to allow Wall Street banks and their overpaid CEOs to drain billions more from our states.
We need our president to act on behalf of all Americans to counter and bring to heel the massive influence, lobbying power and money of the oiligopoly. The president does not seem to understand what is happening at the gas pump.
While the Wall Street economy is booming, the real economy is in a dead stall. Only 36,000 jobs were created in January 2011. A roundup of recent headlines shines a light on how big banks like JPMorgan Chase make their big bucks.
JP Morgan could be "complicit", i.e. aiding and abetting the Madoff Ponzi scheme, by omission -- that is not fulfilling its duty as a fiduciary -- as well as by commission, according to white collar lawyers I have consulted today.