What you need to know to navigate today’s most critical debates.
Former Ohio Attorney General to Head New Consumer Agency (NYT)
It’s a good thing Elizabeth Warren wasn’t picked, because House Republicans have warned us she would bring down the economy through her demand that it be fair to consumers.
Elizabeth Warren: Government Hasn’t Sufficiently Probed Foreclosure Abuses (HuffPo)
Case in point: breaking with the administration, she questioned whether rapping banks on their wrists was enough punishment for widespread foreclosure fraud.
Letting Bankers Walk (NYT)
Paul Krugman agrees and explains why holding banks accountable for their bad behavior won’t break our economy. It might actually solve some problems, like 9% unemployment.
Why did Congress waste six months? (WaPo)
E.J. Dionne, Jr. chides lawmakers for wasting so much time debating a debt ceiling hike while it could have been tackling the unemployment crisis through initiatives like public works projects.
5 Disastrous Consequences Of A Debt Ceiling Meltdown (AlterNet)
A US default only brings small problems, like the possibilities that Social Security checks won’t go out, interest rates on consumer debt will go through the roof, and, oh yeah, the deficit will rise.
No Class Warfare Here! (TAP)
You don’t have to believe liberals that corporate profits are up because wages are down. Harold Meyerson says: listen to JP Morgan.
Attacks on NLRB imperil due process (Politico)
Fred Feinstein warns that the oversized reaction to the complaint that Boeing broke labor laws politicizes on our legal system itself.
Can Obama Pull a ‘Clinton’ on the GOP? (WSJ)
Robert Reich reminds the president that he’s missing one tiny factor: the creation of thousands of jobs.
A Bad Economy Could Harm House Republicans (NYT)
The GOP may think Obama will get all the blame, but Nate Silver warns they could get dragged down into the economic muck and mire.
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