For a decade, Wall Street was playing funny money games, and many Americans also felt like they were invited to the celebration. We were living in fantasy land, but the fantasy is over and we woke up to a nightmare.
One untruth about the President that has had some currency among liberals this summer is that "Obama is out of touch with the middle class." It is not the middle class, but progressives, who Obama is out of step with.
I've been reading Maria Bartiromo's new book, The Weekend That Changed Wall Street. A better title might have been "The Weekend that Changed the World." It was America's chance to bottom out. We didn't.
The SEC, fresh from their cream-puff settlement with Goldman Sachs, turned around last month and laid a 78-page complaint on the Wyly Brothers, alleging that the billionaire businessmen committed all manner of misconduct.
Beware the myth of the monolith -- we netroots activists come from all walks of American life to do the hard work of creating harmony from cacophony in a tradition as patriotic as our country's motto, E Pluribus Unum.
"Financial Reform" will be a boom for people in the payday loan business. There will be many new customers who need bank-like services. It's almost like Congress implemented a plan of "Reverse Robin Hood."