Unlike Mitt Romney and his plutocratic financial backers, Barack Obama does this sort of thing only because he respects plutocrats, not because he is one. He won't gain financially by turning this nation into a banana republic.
JPMorgan Chase CEO Jamie Dimon recently said that he felt safer in Lebanon than when Occupy marched past his house. If nothing else, it proves Wall Street bankers haven't gotten any better at risk management than when their bad bets crashed the economy and caused the Great Recession.
There is little doubt that the global financial crisis posed "unusual and exigent" circumstances that had to be met with a huge response by the Fed (and Treasury). It is not clear, however, that the response actually mounted was legal. It was certainly not transparent.
It's time for Wall Street to pay reparations for the financial collapse it caused. It's time for a crash tax, a tiny sales tax on Wall Street transactions, the revenues from which would pay for Main Street restoration.
It's not just about red states and blue states, it's not about public sector versus private sector workers, and it's not about any of the other propaganda that gets thrown around to divide Americans. It's about all of us.
While students in London spend hours in the cold protesting tuition fees, RBS, a bank that took a huge government bailout, throws a party commemorating Harry Potter. It'd be funny except it's exactly what just happened.
If Friday's filing of a lawsuit for fraud by the SEC against Goldman Sachs left the Wall Street banks feeling a little uneasy, they can always take comfort knowing that they have a rock solid champion and protector in John Boehner.
There is no question that the concentrated corporate power of Wall Street is working to weaken the already disappointing financial reform bill. There is only one antidote to their power and that is our power.