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Originally published on Next New Deal

Is it already time to weaken Dodd-Frank? (WaPo)

If you think that Wall Street doesn't do anything risky anymore and learned its lesson from the crisis, you might answer yes. But Roosevelt Institute Fellow Mike Konczal has some evidence to convince you otherwise.

Cyprus: It's not over yet (Reuters)

Meanwhile, banks are still in need of bailouts across the pond. Felix Salmon argues that Cyprus's deal avoids some really bad problems like hitting uninsured depositors and exiting the euro, but the impact on the tiny country's GDP could still sink the whole thing.

Hot Money Blues (NY Times)

Paul Krugman foresees not just a sea change in Cyprus's economy away from a safe haven for the wealthy avoiding taxes, but a global realization that letting rich people dump their money in certain countries and then pull it out at whim might make things a little unstable.

How Fed Policy Could Leave The Country At The Mercy Of Another Recession (Think Progress)

If you're only concerned with inflation, the Fed has been doing a great job, but if you think we have a slight problem with unemployment, the Fed could only get a B-. Worse, Jeff Spross writes that the obsession with inflation could depress job growth for years to come.

Good news for people who like bad news about inequality (WaPo)

The words "inequality" and "permanent" shouldn't be in the same sentence, but Ezra Klein highlights a new study that shows Americans have little ability to move up the economic ladder. I hear the cost of bootstraps has really skyrocketed.

Strike Debt Abolishes $1.1 Million of Medical Debt (The Nation)

Remember Occupy Wall Street, that group that wanted to do something about inequality? An offshoot has taken matters into its own hands by buying up cheap debt and ... just forgiving it.

Tackling Concerns of Independent Workers (NY Times)

In an era of declining unionism and increasing numbers of freelancers, Sara Horowitz has a new model for labor organizing that brings those workers together to support each other. If they can ever change out of their pajamas.

Originally posted to Daily Kos Economics on Mon Mar 25, 2013 at 07:07 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  Banks learned their lesson, all right. (5+ / 0-)

    Full speed ahead with the gambling and the fraud, and wait for the bailouts!

    Dogs from the street can have all the desirable qualities that one could want from pet dogs. Most adopted stray dogs are usually humble and exceptionally faithful to their owners as if they are grateful for this kindness. -- H.M. Bhumibol Adulyadej

    by corvo on Mon Mar 25, 2013 at 07:26:05 AM PDT

    •  We're Praising the Dog (1+ / 0-)
      Recommended by:

      for pooing on the floor, and then wonder why the dog continues to use the floor as a toilet.  What do we expect?

      There were and are no consequences for being a bad player in the game, or for doing dishonest things.  Until that changes, the banks will continue to be bad actors.

      (-6.38, -7.03) Moderate left, moderate libertarian

      by Lonely Liberal in PA on Mon Mar 25, 2013 at 11:51:47 AM PDT

      [ Parent ]

  •  Yup, banks learned; regular Americans didn't (1+ / 0-)
    Recommended by:
  •  The story about the Fed and inflation is nonsense (0+ / 0-)

    Under Bernanke, the Fed is now not only holding interest rates near zero indefinitely, but is also committed to pumping $85 billion per month to supporting the economy by buying long term treasuries and mortgage-backed securities.

    Furthermore, the Fed has indicated that it will maintain this policy as long as longer term inflation remains below 2.5%/yr, a level it has not reached in many years, and until the unemployment rate falls below 6.5%.

    This level of high stimulus is therefore likely to continue for another year or two, with lower unemployment rate being a requirement for it to be discontinued. Barring a return to inflation, which is unlikely in a depressed economy.

    Thus the Fed is much more committed to stimulus than any other agency in the government, including the Congress or the President.

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