Hold Fast

Charles Pierce, while writing on the demise of pro-austerity “centrist” group Americans Elect, notes: If there was ever a time when the country needed “centrist” solutions less, and a vigorous and raucous class-based debate over who should profit from the American system, it’s right now. This is indeed a fact.

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Cross posted at AMERICAblog Campaign for a Fair Settlement, a liberal housing group which formed to pressure state Attorneys General like California’s Kamala Harris to not agree to a bad robosigning settlement deal, has released a poll that paints a brutal picture of how voters in swing states view President Obama’s handling of the housing [...]

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Mike Konczal has a very good post on the announcement of JP Morgan Chase’s multi-billion trading loses and what it means for our legal ability to deal with Too Big To Fail banks. Konczal writes: There are two ways to look at the relationship between the Dodd-Frank financial reform framework and JP Morgan’s loss disclosure. [...]

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What Matt Taibbi says: f J.P. Morgan Chase wants to act like a crazed cowboy hedge fund and make wild exacta bets on the derivatives market, they should be welcome to do so. But they shouldn’t get to do it with cheap cash from the Fed’s discount window, and they shouldn’t get to do it [...]

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This piece by Bill Black at Naked Capitalism is must-read. It’s the most thorough push-back I’ve seen against the panicked response in many American media outlets towards Hollande’s election in France and the rejection by the French public of austerity in a time of recession. Black notes that the Times’ reporters should read Paul Krugman, [...]

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Visit msnbc.com for breaking news, world news, and news about the economy

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Watching this crap ad from Koch Brothers funded Americans for Prosperity, Digby has the right response: Like I said, they just hate anyone who isn’t rich. There’s no other rational explanation for this. It’s based on a highly successful program that should have been instigated much earlier. It would help business, help property values, help [...]

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Author Stephen King calls out his fellow 1%ers for selfishness and for opposing higher taxes for the rich. A choice passage: guess some of this mad right-wing love comes from the idea that in America, anyone can become a Rich Guy if he just works hard and saves his pennies. Mitt Romney has said, in [...]

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Politico’s Ben White has a couple items in this morning’s Morning Money about the French elections and expected coming victory of Socialist candidate Francois Hollande. Not shockingly, financial elites are getting their panties in a twist that Hollande, who is running on a pro-growth platform that would roll back Sarkozy’s austerity agenda and attempt to [...]

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I think David Dayen has consistently offered the best coverage and analysis of the campaign to get the FHFA to change policy to allow for GSEs to pursue principle reduction, be that by Ed DeMarco making a change on his own or him getting fired and replaced by someone who will. No one really disagrees [...]

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