Special Coverage: Corporate Accountability and WorkPlace

The Dirty Secret of the Financial Crisis: Our Banking System's Broken

William Greider, The Nation. November 22, 2008.
No more free money from Washington. No more masters of the universe. No more business as usual. Time for a banking holiday.

From the blogs

Who Is in Charge? Economic Crisis Worsens Because of Transitional Power Vacuum

by Digby, Hullabaloo

Yet another parallel between 2008 and 1932. Who Is in Charge?

Unhinged Chambliss Grabs Camera When Asked About Lawsuit

by Sam Stein, Huffington Post

The pressures of the runoff and the continuing questions about his ties to a scandal-scarred sugar company seem to be getting to Chambliss.

Obama, the Senate, and China ... All Eying the Big 3

by Jane Hamsher, Firedoglake

"If I was GM’s CEO, I’d be on a plane to China."

Econ-ocalypse: Dow Drops Below 7,600, No Deal Reached on Auto Bailout

by Ian Welsh, Firedoglake

There is no technical support below 8K, so where it ends now is not known.

The Coming Econ-ocalypse: Job Markets Tank

by Steve Benen, Washington Monthly

I don't want to alarm anyone, but the job market appears to be in pretty horrendous shape.

Home Depot Founder to CEOs: You 'Should Be Shot'

by Michael Whitney, SEIU

More crazy hyperbole from greedy CEOs who oppose Employee Free Choice.

Fat-Cat Automakers Beg for Taxpayer Money While Flying in Private Jets

by Steve Benen, Washington Monthly

If they had flown first-class it would have been embarrassing. But company-owned private jets?

George Bush Is Using GM to Screw the Environment One Last Time

by Jane Hamsher, Firedoglake

Big Oil, still in the White House.

Bailout Tally: $3.8 Trillion and Counting

by Faiz Shakir, Think Progress

"Three-point eight trillion dollars. That's $3,800,000.000.000. More than what was spent on WW II, if adjusted for inflation."

Larry Summers Out as Obama's Treasury Pick?

by Matt Stoller, Open Left

Victoria McGrane and Lisa Lerer from the Politico are reporting that Larry Summers is on the outs with Obama's transition team.

I'm an American Worker and I'm Tired of Getting Screwed

Rick Kepler, TruthOut.org. November 22, 2008.
The American worker doesn't want a handout. Never did. We do want a hand up from our government.

China Scrambles to Stave Off Economic Meltdown

Antoaneta Bezlova, IPS News. November 21, 2008.
China’s wish for a world financial order less dominated by the United States and its dollar is giving way to a more urgent recession at home.

Bailout or Bust: How to Save the Big Three From Themselves

Titus Levi, Truthdig. November 21, 2008.
Letting Detroit's ailing auto makers fall makes economic sense, but can we afford the social costs?

America in Free Fall

Robert L. Borosage, Campaign for America's Future. November 21, 2008.
Congress might adjourn without acting on the deepening economic crisis, leaving Obama to inherit the catastrophe.

Dingell Loses to Waxman, and Auto Stocks Dive -- Call it What It Is: Corruption

Joshua Holland, AlterNet. November 21, 2008.
When the Big Three's best Rep. lost a key committee spot, their share prices dropped. That's not just business as usual, it's a sign of corruption.

Industry and EPA Collaborated to Hide the Truth about How Natural Gas Drilling Is Threatening Drinking Water

Abrahm Lustgarten, ProPublica. November 20, 2008.
One of the greatest threats to our water and our health may come from a process involved in natural gas drilling. But EPA is keeping mum.

How Our Gutless Media Helped Trigger the Credit Crisis

Trudy Lieberman, Columbia Journalism Review. November 20, 2008.
Government and greedy bankers aren't the only ones to blame.

Why We Shouldn't Bail Out GM

Nicholas von Hoffman, The Nation. November 20, 2008.
The bailout should be used to expand unemployment compensation instead of propping up a single, failing corporation.

Will the Youth Movement Save the Labor Movement?

Dick Meister, AlterNet. November 19, 2008.
Joining a union would not only help young workers improve their own status, it'd halt a steady decline in union strength.

End of the Road: Is the Auto Industry Dead?

Mark Brenner, Jane Slaughter, Labor Notes. November 19, 2008.
With U.S. car makers billions of dollars in the red, jobs vanishing and factories closing, the industry's problems may be insurmountable.

Keep it Simple: Stop the Foreclosure Crisis with the Right to Rent

Dean Baker, TruthOut.org. November 19, 2008.
There are a lot of complicated plans being discussed, but sometimes the simplest solution to a problem is best.

It Is Going to Be a Wal-Mart Christmas

Marie Cocco, Washington Post Writers Group. November 19, 2008.
Wal-Mart is the only store where hard-squeezed consumers can afford anything, and so it keeps posting big profits amid the retail bloodbath.

South America: Can Recession Be Avoided?

Mark Weisbrot, AlterNet. November 18, 2008.
Can South America escape the wrath of the economic and financial storms that have their epicenter in the United States?

Naomi Klein: The Borderline Illegal Deals Behind the $700 Billion Bailout

Amy Goodman, Democracy Now!. November 18, 2008.
The bailout is a parting gift to the people that George Bush once referred to jokingly as "my base."

Priority #1 for Working America -- Make It Easier to Unionize

Steven Greenhouse, The New York Times. November 18, 2008.
Huge union campaign will hopefully counterbalance "corporate power and reverse the decline of the middle class."

Congress Grills Hedge Fund Titans, Gently

Sam Pizzigati, Too Much: A Commentary on Excess and Inequality. November 17, 2008.
Lawmakers still haven't recognized danger of concentrated wealth to the economy.

Why the Economy Grows Like Crazy Amid High Taxes

Larry Beinhart, AlterNet. November 17, 2008.
The raw truth is that the economy has grown faster when taxes were higher, but how can we explain that phenomenon?

Democrats' Soft Spot for Automakers Have Shielded Detroit from Its Own Bad Decisions

Garland McLaurin, American News Project. November 17, 2008.
The automobile lobby is back on Capitol Hill to secure $25 billion in loans. Will the money get wasted or put to good use?

$2 Trillion Handed out by Paulson and Bernanke, But Who Got It, Nobody Knows

Nicholas von Hoffman, The Nation. November 17, 2008.
We have no idea who got this money or the conditions or collateral put up in return for the loans.

Our Economy May Be in a Death Spiral -- Will Washington Stop the Bleeding?

Joshua Holland, AlterNet. November 15, 2008.
The Bush-Paulson plan isn't doing anything to address the underlying problems threatening America's economic future.

R.I.P.: The Financial Experts, 1929-2008

Sasan Fayazmanesh, CounterPunch. November 15, 2008.
What's the likely fallout of our economic crisis? Nobody knows for sure -- but the economists won't admit it.

Financial Crisis Socks California

Paul Abowd, Labor Notes. November 14, 2008.
Unemployment in California rose to 7.7 percent in August, its highest in a decade.

Wall Street's Bailout is a Trillion-Dollar Crime Scene -- Why Aren't the Dems Doing Something About It?

Naomi Klein, The Nation. November 14, 2008.
Washington's handling of the bailout is not merely incompetent. It may well be illegal.

Setting Sights at the Top is the Key to Governing from the Middle

Sam Pizzigati, Too Much: A Commentary on Excess and Inequality. November 13, 2008.
To govern effectively for the middle of America's economic ladder, Obama is going to have to take aim at the top.

How to End Our Financial Misery

Robert Pollin, The Nation. November 13, 2008.
A large-scale stimulus program is the only action that can possibly do the job.

How Closing Manufacturing Plants Can Be Transformed into Community-Saving Business Ventures

Angela Walker, AlterNet. November 12, 2008.
Ford's oldest plant in operation, which is set to close in 2011 will be the epitome of the changes to come.

College Loan Slavery: Student Debt Is Getting Way Out of Hand

Nan Mooney, AlterNet. November 12, 2008.
The quest for a college degree is dumping millions of young people deep into a pit of debt from which many will never recover.

Keep Larry Summers as Far as Possible from the U.S. Treasury

Mark Ames, TheNation.com. November 12, 2008.
In light of all of the corruption and cronyism that have marked the career of Lawrence Summers, why is Obama considering him for treasury secretary?

What Were Considered "Radical" Economics Are Re-Emerging in Wake of Crisis

Julio Godoy, IPS News. November 12, 2008.
The worldwide market meltdowns have many turning the pages back to Marx and Keynes.

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