Comments on: Book Review: Paul Krugman’s ‘End This Depression Now!’

By: Reviews of Important Works « Che the Rich!

Reviews of Important Works « Che the Rich! — Mon, 27 Aug 2012 02:09:39 +0000

[...] End This Depression Now! Paul Krugman http://www.nytimes.com/2012/06/17/books/review/end-this-depression-now-by-paul-krugman.html?pagewanted=all http://www.winningprogressive.org/book-review-paul-krugmans-end-this-depression-now [...]

By: Winning Progressive

Winning Progressive — Tue, 29 May 2012 23:39:16 +0000

Harleysch – there is a difference between someone opposing Glass-Steagall because they do not believe it should be in place (which is what the GOP does), and keeping Glass-Steagall out of Dodd-Frank because it couldn’t be passed (which is what President Obama did). In other words, Obama made a policy decision that passing Dodd-Frank was better than not passing it, and a strategic decision that Dodd-Frank would only pass if Glass-Steagall was not in it (keep in mind that we had to get the votes of at least one GOP Senator, plus conservative Dems like Lieberman, Nelson, Lincoln, and Pryor to pass anything). You can disagree with that strategic call, but don’t pretend like Obama is an opponent of Glass-Steagall like the GOP is.

The best chance for getting Glass-Steagall enacted is to re-elect President Obama with large enough progressive majorities in the House and Senate that there is a credible chance that Glass-Steagall could pass. Then we have to fight like heck in 2013 to make sure it actually passed.

The alternative – falsely pretending like Obama is not better than the GOP and sitting home – sure as heck won’t get us Glass-Steagall. Instead, it will get us a GOP President and Congress that will repeal Dodd-Frank, eliminate the Consumer Financial Protection Bureau, and eviscerate most of the rest of the financial regulations that currently exist.

By: harleysch

harleysch — Tue, 29 May 2012 23:23:53 +0000

I was very shocked by “Winning Progressive” comments in response to Joe Nocera’s NYT article “The Simplicity Solution”, asserting that re-electing Obama will get Glass Steagall!!!! It was Obama, and Geithner, who insisted that Dodd Frank NOT include Glass Steagall. Don’t blame brain-dead Republicans! If Obama ducks the fight for what’s necessary, it’s his fault. What makes you think he will change — he continues to support the bailouts, defends Jamie Dimon, etc.