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ProblemW/Kevin

Jul
25th
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Jul
23rd
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Jul
22nd
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Jul
16th
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As long as there’s no fundamental change in the structure of Wall Street — as long as the big banks stay as big and are allowed to grow bigger, and have every incentive to invent new financial gimmicks with which to bet other peoples’ money — they will remain too big to fail, and too politically powerful to control. Congress has labored mightily to produce a mountain of legislation that can be called financial reform, but it has produced a molehill relative to the wreckage Wall Street wreaked upon the nation.
— Robert Reich, Former U.S. Secretary of Labor, in a column titled “The New Finance Bill
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Jul
15th
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It is a good step towards fixing some of the worst practices, most notably by creating the consumer protection bureau. However, this bill does not fundamentally change the way Wall Street does business. These guys got off incredibly easy for the enormous damage they did the country.
— Dean Baker, economist with the Center for Economic Policy and Research, commenting on today’s Senate passage of the financial regulation bill.
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Jul
5th
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We’re facing a coalition of the heartless, the clueless and the confused… Cutting off benefits to the unemployed will make them even more desperate for work — but they can’t take jobs that aren’t there.
— Paul Krugman, “Punishing the Jobless
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Jul
4th
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Jul
2nd
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For the last few months, I and others have watched, with amazement and horror, the emergence of a consensus in policy circles in favor of immediate fiscal austerity. That is, somehow it has become conventional wisdom that now is the time to slash spending, despite the fact that the world’s major economies remain deeply depressed. This conventional wisdom isn’t based on either evidence or careful analysis.
— Paul Krugman from “Myths of Austerity
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Jul
1st
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Jun
29th
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Jun
28th
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Jun
27th
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