Economist James K. Galbraith tells the truth about the financial meltdown:
"I think it’s fair to say that so far, what we’re looking at here is a failure of the rule of law."
To be specific:
Obama's Labor Department wants companies to comply with wage, job safety and equal employment laws. The New York Times' Steve Greenhouse has the story:
In a move that will affect most American corporations, the Labor Department
plans to require companies to prepare and adopt compliance plans aimed at
ensuring they do not violate wage, job safety and equal employment laws. Read the whole thing here.
I admit I was a little surprised when I saw the cable news channels covering the big anti-Wall Street demonstration in New York yesterday.
- A million people will soon run out of unemployment benefits. Tens of thousands in New York and Ohio. 130,000 in Florida. We need more jobs, damn it.