When the Fed Speaks (NYTimes)
After yesterday's stock plunge, it's clear that the markets want stimulative fiscal policy, but those demands are falling on deaf ears.
U.S. bailouts benefited foreign firms, report says (WaPo)
The Congressional Oversight Panel has found that the U.S.'s broad bailout program had an international impact, but poor record-keeping prevented TARP architects from properly monitoring or coordinating that flow of funds.
Robert Rubin is Still Wrong and Joseph Stiglitz is Still Right (CAF)
Robert Rubin and Roosevelt Institute Senior Fellow Joseph Stiglitz have been debating the merits of job creation versus deficit reduction since the Clinton years, but as Zach Carter notes, Rubin has yet to learn his lesson.
Social Security at 75: Crisis is More Myth Than Fact (HuffPo)
As the Social Security Act's 75th anniversary approaches, James Roosevelt debunks some common misconceptions about one of his grandfather's greatest legacies.
Has the Washington Post Gone Mad? (CEPR)
Dean Baker wonders why the Post's editorial team has bought into Peter Peterson's Social Security alarmism when the program is safe for the next 27 years.
Social Security Coalition: Don't Cut It (Truthout)
An alliance of state and national organizations is urging deficit hawks to get their facts straight and keep their hands off Social Security.
The BP Cover-Up (MoJo)
Julia Whitty reports that what we know about the extent of the disaster in the Gulf may only be skimming the oil-slick surface.
Senators representing their parties, not their states (WaPo)
Ezra Klein graphs the state aid vote and finds no strong correlation between senators' votes and the unemployment rate among their constituents. Some of them would probably be surprised to learn that they have constituents.
Debts Rise, and Go Unpaid, as Bust Erodes Home Equity (NYTimes)
Banks are still trying to blame delinquency on "immoral" borrowers rather than their own foolish lending practices.
How Wall Street Flipped to the GOP (TNR)
Jonathan Chait notes that if critics were right about finreg being a love letter to Wall Street, Wall Street hasn't been returning the affection.
Goldman Sachs could be largely unaffected by financial overhaul (LA Times)
Meanwhile, the biggest players in the last financial crisis seem to be coping just fine with the new regulations. Uh-oh.
How Wells Fargo Cheated Its Customers (Forbes)
A federal judge has ordered Wells Fargo to pay $230 million in restitution to customers whom the bank soaked with unfair overdraft fees.
CNN Poll is First to Show Majority Support for Gay Marriage (FiveThirtyEight)
The poll finds that 52 percent of Americans now agree that gay marriage should be recognized as a constitutional right. Keep up the great work, NOM.
The Right Way to Please the Base (American Prospect)
Michael Tomasky urges Democrats to find a happy medium between embracing the lunatic fringe and acting as if they're embarrassed by their own policies.
Yes, Google is a Little Bit Evil (MoJo)
Despite Verizon and Google's assurances to the contrary, Kevin Drum worries that the new architecture they propose would narrow content choices and cause universal high-speed Internet access to fall by the wayside.
Zero Grounds (New Yorker)
Memo to conservatives regarding the non-Ground Zero non-mosque: Grow up and mind your own business. Sincerely, New York City.