By Rachel Goldfarb, originally published on Next New Deal
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Washington Has Not Defeated Wall Street. Yet. (TNR)
Roosevelt Institute Fellow Mike Konczal writes that for all that Dodd-Frank accomplished, financial reform isn't done yet. He lays out four areas in particular where this fight is ongoing, and the solutions aren't quite clear: enforcement, Too Big to Fail, the mortgage market, and shadow banking.
- Roosevelt Take: An Unfinished Mission: Making Wall Street Work for Us, a report from the Roosevelt Institute and Americans for Financial Reform that Mike co-edited, goes into greater depth on these issues.
The Populist Imperative (NYT)
Paul Krugman writes in favor of a focus on inequality in the State of the Union next week, because that rhetoric connects voters to macroeconomic issues. He argues that while some people may want more explicit discussion of jobs, the issues are interconnected.
Most Republicans Think Poverty Caused by Laziness, New Poll Finds (MSNBC)
Morgan Whitaker reports on the results of a new Pew poll on poverty. The poll shows that Americans recognize the growth of economic inequality in recent years, but a majority of Republicans think that if poor people put in more effort, they wouldn't be poor.
When Companies Break the Law and People Pay: The Scary Lesson of the Google Bus (Salon)
Julia Carrie Wong uses the Google Bus in San Francisco as a prime example of the ways that large corporations are allowed to flout laws that carry harsh penalties for individuals. The fine for blocking a bus stop is $271, but Google gets to pay San Francisco just $1 per stop used.
Big Money Doesn't Just Corrupt Politics. It Also Corrupts People (PolicyShop)
David Callahan argues that when public servants with relatively low government salaries spend so much of their time with wealthy lobbyists, corruption isn't so surprising. He suggests limiting lobbyists' access as one solution, but also calls for higher salaries for government officials.
WSJ Can't Figure Out Why Hiring Lags When Factories Are Not Humming (Beat the Press)
Dean Baker calls out the Wall Street Journal for a recent piece that questions why manufacturing isn't hiring when the industry is doing better. Data shows that factories are still functioning far below their capacity in the U.S., so Baker wonders why the Journal is asking that question.
Guatemala Factory Supplying Walmart and Other US Retailers Stole $6 Million From Workers (The Nation)
Steven Hsieh reports on the results of an Institute for Global Labor and Human Rights investigation into the wage theft at an Alianza Fashion factory in Guatemala. When retailers were asked about the wage theft, some blamed the middle men in the manufacturing chain.