Robert Reich: Shame Doesn't Work On Wall Street

Yes!  Three simple and important steps to help our economy from the former Labor Secretary:

Shame won’t work. Only political muscle and courage will. Congress and the Obama administration should give homeowners the right to go to a bankruptcy judge and have their mortgages modified.

And while they’re at it, resurrect the Glass-Steagall Act that used to separate investment from commercial banking, so Wall Street can’t continue to use other people’s money to gamble.

Finally, before Goldman hands out $17 billion in bonuses, claw back the $13 billion Goldman took from AIG and the rest of us and add it to the pool of money going for mortgage relief.

Read Robert Reich’s entire op-ed here (a top notch opinion piece).