The reason we have continued sky-high unemployment has nothing to do with excessive regulation. There was no sudden outpouring of federal regulation in 2007 before the economy tanked and millions lost their jobs.
Here's an idea: Let's give hundreds of billions of dollars in government-backed guarantees to private banks so they make a fortune writing mortgages without any risk to themselves. Hey, what could go wrong?
The Financial Crisis Inquiry Commission just released its report, and it's already under attack by the Four Horsemen of the Economic Apocalypse: the Ideologue, the Lobbyist, the Think-Tanker, and the Politician.
People interviewed in Inside Job claim that finance professionals deserve their money. But can someone rationally argue that someone earning $30 million/year works 1,000 times harder than someone earning $30,000/year?
Transparency is not a substitute for better regulation by national governments and international institutions, but more disclosure and increased civic participation would definitely add significant muscle to traditional regulatory systems.
Rather than providing a platform for presentation of a corporate wish list, Darrell Issa should be subjecting corporate claims to the withering scrutiny he promises for the Obama administration. These claims collapse under examination.
The Republicans on the Financial Crisis Inquiry Commission tried to undermine that group's work by attempting to ban phrases like "Wall Street" from its final report. Now they are trying to explain away their behavior.
The presumption that we've got lots of useless regulation in place plays off of years of conservative rhetoric about how regulatory red tape is choking American business. But this idea is divorced from reality.
When you pull a lever on Tuesday, you may think you are voting for one candidate or another, but, in the big picture, the vote won't be for a person. Instead, you will be voting based on these opposing principles.
The insidious and deceptive self-branding that used to be confined to the corporate world is now also used by political message-makers, aiming to create a look and feel that consumers identify with intuitively.
Inside Job cuts through the fog of disinformation and punditry to expose the truth about a catastrophic event, clarifying for the everyman the financial meltdown of 2008 that wrecked the lives of millions.