Robert Scheer, a contributing editor to The Nation, is editor of Truthdig.com and author of The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street (Nation Books), The Pornography of Power: How Defense Hawks Hijacked 9/11 and Weakened America (Twelve) and Playing President (Akashic Books). He is author, with Christopher Scheer and Lakshmi Chaudhry, of The Five Biggest Lies Bush Told Us About Iraq (Akashic Books and Seven Stories Press.) His weekly column, distributed by Creators Syndicate, appears in the San Francisco Chronicle.
Welcome to the brave new world of post-bailout capitalism.
Former Citigroup CEO Sandy Weill, whose push for radical deregulation of the banking industry did so much to create our financial crisis, seems to be faring quite well in our shattered economy.
It takes a Harvard MBA to raze an economy. Perhaps that is too narrow a judgment given that a law degree from that institution or from Yale University seems to serve as well.
Barack Obama deserved the rebuke he received at the polls for a failed economic policy that consisted of throwing trillions at Wall Street but getting nothing in return.
It’s over for the US in Afghanistan, but that doesn’t mean the death and destruction are about to stop. Quagmires don’t just go away.
Why would President Obama, whose legacy has been sabotaged by a housing crisis that Tom Donilon helped create and conceal, hire him to run the most sensitive position of public trust in his administration?
The Titanic that is the US housing market has just sprung its biggest leak.
Surely Michelle Obama knows that this administration has thrown trillions at the banks in hope that they would respond with mortgage relief for struggling homeowners—and gotten nothing in return.
Paul Volcker, head of Obama's Economic Recovery Advisory Board, nailed the cause of our financial hardship in a series of blistering remarks on the sorry state of our economy.
The Obama administration, unwilling to confront Wall Street, surrendered the substance as well as the rhetoric of a meaningful populist response to the faux insurgents of the Tea Party.