The Common Good

Brooks, Krugman, Austerity in the Balance

admin — Fri, 18 May 2012 17:08:33 +0000

DAVID BROOKS, NY Times - The people who pioneered democracy in Europe and the United States had a low but pretty accurate view of human nature. They knew that if we get the chance, most of us will try to get something for nothing. They knew that people generally prize short-term goodies over long-term prosperity. So, [...]

Racial Politics, 2012-Style

admin — Fri, 18 May 2012 16:39:49 +0000

NY Times, Editorial For many Republicans, the belief has never died that President Obama is a secret revolutionary nurtured on black liberationist theology. Right-wing Web sites are littered with this nonsense, and the Fox News host Sean Hannity regularly tries to tie Mr. Obama to the clearly racist views of his former pastor, the Rev. [...]

Boehner Demands Spending Cuts for Any Debt Limit Increase

staff1 — Thu, 17 May 2012 17:50:07 +0000

Brian Faler, Bloomberg - House Speaker John Boehner revived Republicans’ insistence that any increase in the nation’s debt limit be matched by at least as much in spending cuts, positioning his party for a renewed standoff with Democrats over the federal budget. “Allowing the debt ceiling to go up without addressing our fiscal challenge would be the most irresponsible thing that [...]

JPMorphing

admin — Thu, 17 May 2012 17:13:07 +0000

NY Times Editorial - When he disclosed a stunning $2 billion trading loss at JPMorgan Chase last week, Jamie Dimon, the bank’s chief executive, insisted that the trades had not violated the Volcker Rule, a crucial part of the Dodd-Frank reform law that is supposed to bar banks from doing risky trading for their own account. [...]

TOP NEWS: Economy: May 17, 2012

admin — Thu, 17 May 2012 17:03:12 +0000

Facebook: The smart money exits JPMorgan’s Trading Loss Is Said to Rise at Least 50% Territorial Taxes Would Improve U.S. Competitiveness Jobless claims steady, mid-Atlantic factories sag April economic index drops after 6 months of gains Excerpts and more top stories Facebook: The smart money exits - Felix Salmon, Reuters The Facebook IPO is now set to [...]

A Tale of Two Commencements

admin — Thu, 17 May 2012 16:03:22 +0000

Daniel Henninger, Wall Street Journal Op-Ed - For Obama, politics is life. For Romney, politics does not define us. Two days after Mitt Romney delivered the commencement speech at Liberty University, the big evangelical Christian school founded by Jerry Falwell, Barack Obama tutored graduates at Barnard College, the intensely liberal all-women’s school adjacent to Columbia University. [...]

TOP NEWS: Democracy: May 17, 2012

admin — Thu, 17 May 2012 15:43:31 +0000

Too much agreement means more entitlements Michael Tomasky on Mitt Romney’s Tea Party Masters Why I Think Obama Is Losing Obama-Clinton? That’s the ticket Can Obama Recapture the Youth Vote? Excerpts below Too much agreement means more entitlements – George F. Will, The Washington Post Bipartisanship, the supposed scarcity of which so distresses the high-minded, [...]

TOP NEWS: Nat’l Security / Foreign Affairs: May 17, 2012

staff1 — Thu, 17 May 2012 14:54:53 +0000

‘Grexit’: Are Greece’s fears causing a $1-billion bank run? D.E.A.’s Agents Join Counternarcotics Efforts in Honduras Muslim Brotherhood candidate an underdog in Egypt Assad: Nations that sow chaos will suffer Iran warns West against pressure in nuclear talks Excerpts and more stories below ‘Grexit’: Are Greece’s euro fears causing a $1-billion bank run? – Tiffany [...]

‘Grexit’: Are Greece’s euro fears causing a $1-billion bank run?

staff1 — Thu, 17 May 2012 13:59:30 +0000

Tiffany Hsu, The Los Angeles Times- Greek officials were busy today cobbling together an emergency plan after talks to form a coalition government disintegrated Tuesday. In the meantime, Greeks have withdrawn $900 million from local banks. So said President Karolos Papoulias, according to minutes of a government meeting procured by Reuters. Papoulias, in turn, was quoting George [...]

Krugman, on Ornstein / Mann Controversy

annaliesar — Wed, 16 May 2012 21:23:48 +0000

Thomas Mann and Norman Ornstein, co-authors of “It’s Even Worse Than It Looks,” will be guest speakers at The Common Good on May 24. RSVP to Ornstein and Mann at The Common Good: May 24 Paul Krugman - ”Thomas Mann and Norman Ornstein, two highly respected Congressional analysts with a reputation for being nonpartisan, have a book documenting the [...]