Wall Street's leaders have utterly escaped jail.
"There have been no arrests of senior Wall Street executives." Frontline examines why the United States federal government didn't go after the financial titans.
Why Obama Now
- from Simpsons/Family Guy animator Lucas Gray [more inside]
The JOBS Act
or "Jumpstart Our Business Startups Act" is not really about creating jobs but about loosening regulations on companies planning to IPO. SOX compliance and other financial regulations have made going public an expensive and time consuming process for young companies, and many are now staying private or getting acquired rather than going public. Fewer regulations encourages more IPOs, but what are the unintended consequences
of "exempting [companies] from independent accounting requirements for up to five years after they first begin selling shares in the stock market"?
If you’re elected president,” asked one guest at a 2007 hedge fund managers event for Obama, “what will you do to the taxes on the people in this room?” “I’ll raise them,” Obama fired back. The managers, who share social circles and an educational background with Obama, approved of his style. These days, however, the bloom is off the rose. In The Big Split
, Alec MacGillis investigates the souring of a 20 year relationship between Democrats and high finance, and surmises that it's the administration's rhetoric more than its policy that has upset the masters of the financial universe.
White House economic policy largely originates with The Council of Economic Advisers
, CEA, who directly advise the President of the United States. CEA research and publish the annual Economic Report of the President
[ .pdf ], which details the state of the nation's economic health. Today President Barack Obama is expected to nominate Princeton Economist Alan Krueger
as chairman of the White House Council of Economic Advisers. Krueger, who previously held the post of Assistant Treasury Secretary for Economic Policy
, has written on a wide range of topics, from the economics of rock music
[ .pdf ], the causes of terrorism
[ .pdf ] and American's changing work / life balance
. But Krueger is best known as a labor economist
who has extensively researched long term unemployment. [more inside]
Do you feel disappointed in government? Does Obama seem a little too meek for the Presidency? Do you wish he'd make larger structural reforms? Maybe, suggests Matt Taibbi, there's an answer
. [more inside]
wants you to organize a protest on April 11th
to express your frustration and disapproval with how our elected officials have handled the economic crisis.