When I heard Republican Sen. Lindsay Graham of South Carolina call for bank nationalization, and Sen. Chuck Schumer say “well .... let’s hold on a little longer,” I considered re-reading Alice in Wonderland. Schumer’s reluctance merely exposes him as a liberal pawn of Wall Street (there was never much doubt about that), but in fact it’s now hard to find an economist who does not favor nationalization as the only means of removing toxic assets from bank balance sheets and restarting lending.
WASHINGTON — When President Barack Obama signed the $787 billion economic recovery bill to create millions of new jobs and extend safety-net programs for millions of unemployed workers and the poor, it was a stunning victory over Republican stonewalling. It was also a victory over corporate media naysayers, who are pounding a negative drumbeat against Obama and his New Deal type approach to rescuing the plunging economy
In Jackson, Miss., when the air is heated all day by a blazing sun, it doesn’t cool off at night. Instead, like a sponge, it soaks up the moist winds coming up from the Gulf of Mexico. I remember how, on a hot and humid July night in 1981, I counted the steps from my car door to the motel entrance, praying that there would be an air conditioner inside.