The Republican Party’s newfound political assault on Ben Bernanke is a grim reminder of the actual conservative economic agenda for the next two years. The midterm elections taught Republicans a destructive lesson: With Democrats in power, the worse the economy gets, the better Republicans do at the voting booth. Economic sabotage is the essential Republican [...]
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A month ago, President Barack Obama vetoed a bill that would have made it far more difficult for borrowers to prove that banks were engaging in foreclosure fraud. The bill was a complex, highly technical bailout for megabanks that have defrauded millions of borrowers, flaunted the rule of law and and driven our economy off [...]
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Despite escalating outrage over rampant foreclosure fraud, the Federal Reserve now appears ready to eviscerate a key mortgage regulation in an effort to spare banks the losses from their own wrongdoing. Even as bank executives preposterously claim to have wronged nobody in the foreclosure process, they’re pushing hard to unwind the only serious federal rule [...]
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This is a joke. Politico is floating the idea that notorious Wall Street crony Rep. Melissa Bean, D-Ill., could be tapped to head the Consumer Financial Protection Bureau if she loses her close election with Republican Joe Walsh. Even for Politico’s rumor-mill, this is pretty funny stuff—only slightly less absurd than suggesting that Alan Greenspan [...]
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Welcome to the final edition of Campaign Cash, which tracked political spending during this year’s midterm elections. Stay tuned for more reporting on money in politics from members of The Media Consortium. To see more stories on campaign funding, follow the Twitter hashtag #campaigncash. Anonymous millionaires just helped elect dozens of ultraconservative congressional candidates, by [...]
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Economic policy has faced grave challenges over the past two years, hamstrung by obstructionist Republicans in the U.S. Senate and Wall Street-friendly advisers in the Obama administration. With the Republican Party now in control of the House, it seems certain that any major action to create jobs will face tremendous obstacles. This is a global [...]
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The votes are in, and while some close races are still being tallied, there is a clear winner from the 2010 elections: Secret corporate cash. Such unaccounted for political donations may end up allowing those accused of wrongdoing to go free. As Joshua Holland details for AlterNet, Citizens United v. Federal Election Commission may have [...]
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Corporate America is on the attack in every state. As Joshua Holland explains for AlterNet, outside groups have spent somewhere between $750,000 and more than $2 million in an attempt to unseat Rep. Bruce Braley (D-IA) in a state where ad buys come cheap. But Braley is almost certain to win anyway, even if his [...]
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Two Tea Party leaders, Mark Meckler and Jenny Beth Martin, have been jet-setting all over the country ginning up support for conservative politicians. Literally. They’ve been flying around in a private jet like Wall Street CEOs, except they’re heading to “grassroots” rallies instead of merger talks. Meckler and Martin don’t say how outraged, ordinary citizens [...]
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Remember that horrible 2004 Swift Boat Veterans for Truth ad that helped derail John Kerry’s 2004 presidential bid? Well, Bob Perry, the billionaire tycoon who financed that smear campaign is back, and he’s underwriting a barrage of dirty ads that target politicians he doesn’t like. And this time around, the Supreme Court gave Perry cover [...]
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