Obama To Detroit: Drop Dead!

In General Interest by Jonathan Tasini1 Comment

Every day, if you pay attention, we can get a teachable moment. Today’s teachable moment gives us this: if you are a CEO of a bank, a CEO who makes millions of dollars, and you are in financial trouble — trouble of your own making — you can ring up the White House and, presto, the coffers of the Federal Reserve open up to extend you loans in the billions of dollars. On the other hand, if you are a worker making a modest income, or you are now retired, and you live in a city ravaged by the so-called “free market”, a city that files for bankruptcy, and you ask the White House for help, you are told, “sorry, buddy, you are on your own.”

Detroit to Wall Street: We Are All Jamie Dimon’s Children

In General Interest by Jonathan Tasini0 Comments

I mean this in a couple of ways. If people in Detroit were all named “Jamie Dimon,” a bailout would be on its way, free and clear, low-interest, no questions asked, the same kind of bailout JP Morgan Chase’s Dimon and his gang of thieves on Wall Street were able to pocket after they cratered the economy. But, barring Dimon being an actual whore, not simply a financial one, the familial connection ain’t happening for the people of Detroit — not that they’d really want it. That said, there is a real argument to made: Wall Street should pay for Detroit’s fiscal situation. And I’d propose a surtax on profits called “The Jamie Dimon Surtax.”

Detroit

In General Interest by Jonathan Tasini5 Comments

Detroit. The filing for bankruptcy is a sad, but, in a way, predictable event — if one is willing to see what this really means. It’s a deep metaphor for the failure of the so-called “free market”.

Ta-Ta To The Middle Class

In General Interest by Jonathan Tasini0 Comments

   It is endlessly fascinating and grotesque at the same time (I have these combined feelings a lot these days–maybe I need professional help) to read media reports about the …

Auto Bankruptcy Closer?

In General Interest by Jonathan Tasini0 Comments

   This is news that is both somewhat expected and also worrisome, from The Wall Street Journal this morning: Outside advisers to the U.S. Treasury have started lining up the …

Auto Workers In The Cross Hairs

In General Interest by Jonathan Tasini0 Comments

   Even though I’ve suggested that auto workers should not pay for the mistakes made by the industry’s executives, the drumbeat has been pretty persistent that the workers will take …