There is no shortage of prescriptions designed to cure what ails progressives, but most suggest a specific course of action or attitude rather than addressing the structure of the enterprise, which resembles the planned economies of communist governments.
If Congress does not act, we will almost inevitably see a further collapse in the housing market, with a ripple effect that has the potential to destroy vital consumer confidence, stop any economic recovery or even cause an economic catastrophe.
Why did gold and silver stocks just get hammered, at a time when commodities are considered a safe haven against global uncertainty? The answer is that the sector has been the target of massive short selling.
I don't know if my methodology would yield better results than the U.S. government's strategy (which failed to find a single trader) during the last ten years. But I'm certain the results couldn't be any worse.
After all that has happened with the financial crisis and the role that short-sellers played in dragging big companies down into the muck, you'd hope the U.S. Senate wouldn't play this role. But it is going on today.
Wall Street short-seller Steve Eisman gave a speech criticizing for-profit colleges and universities. Stories appeared after the speech that the share values of the companies had dropped -- and that Eisman had "shorted" these stocks.
A firm's failure should not matter to anyone but its management, employees, shareholders and creditors. But better regulation will not suffice for us to fix this. Only breaking up the big banks will work.