When Wall Street Rules, We Get Wall Street Rules (HuffPo)
Dean Baker is outraged over widespread middle-class suffering - which can be avoided by boosting demand.
Final phase of federal law restricting credit card fees, interest rates begins (WaPo)
The remaining provisions of the Credit CARD Act took effect yesterday, ramping up requirements for consumer protection and transparency.
Credit Card Companies Jack Up Rates Despite Flagging Economy, Super Low Funding Costs (Naked Capitalism)
The gap between the prime rate and the average interest rate keeps getting larger while banks enjoy the public's largess.
Consumers Clamoring for a Leader (NYTimes)
Elizabeth Warren's optimism and honesty have earned the public's trust and convinced struggling Americans that she'll be their representative in Washington.
The first director of CFPA (The Hill)
Norman Silber looks back at the history of the FDA and argues that the new agency needs a leader who understands its mission and its priorities. Like, say, its creator.
Great Depression, Great Recession (News Observer)
The New Deal rescued millions of Americans from poverty, joblessness, and starvation while conservatives argued for a wait-and-see approach to the economy.
The Economy Is Getting Worse and Worse -- And No One's Doing a Thing About It (AlterNet)
By contrast, today's progressive leaders seem too distracted or timid to take action in the face of increasingly alarming economic data.
In Striking Shift, Small Investors Flee Stock Market (NYTimes)
Meanwhile, investors are heading for the exits, withdrawing over $33 billion from mutual funds so far this year.
The Erosion of America's Middle Class (Spiegel)
Thomas Schulz finds the disparity between the wealthiest Americans and everyone else at its worst since the Great Depression.
Now, the Rules (NYTimes)
Finreg's lending reforms will succeed or fail based on how the Federal Reserve decides to implement them.
Obama Housing Program Slowing to a Crawl While Homeowners Suffer (HuffPo)
HAMP still isn't making a dent in foreclosures, but that hasn't stopped the administration from defending the program's place in the "broader arc of history."
Housing Fades as a Means to Build Wealth, Analysts Say (NYTimes)
After learning that home prices can't rise forever, owners must look elsewhere for their nest egg.
Post-Mortgage Meltdown, Where Do We Go Now? (NPR)
Raj Date thinks it will be difficult to dismantle Fannie and Freddie in the immediate future, but it's time to reconsider homeownership's place in the American Dream.
Now That's Rich (NYTimes)
Paul Krugman notes the disconnect between politicians claiming to care about the deficit and pushing to renew the Bush tax cuts at the same time.
Deficit Fraud McConnell: Why Did Tax Cuts ‘All Of A Sudden Become Something We, Quote, Pay For?’ (Think Progress)
The Senate Minority (soon to be Majority?) Leader makes Krugman's point for him.
Stock Swing Still Baffles, With an Ominous Tone (NYTimes)
Almost four months later, the cause of the stock market flash-crash remains a mystery, but it likely had something to do with computer error. Maybe.
Cure for excessive Wall Street compensation: Price wars (WaPo)
Steven Pearlstein writes that if investment bankers want to reap huge profits, they should have to fight for them.
The last chance to avoid a global trade war (FT)
Michael Pettis argues that unless trade is rebalanced, the U.S. will be forced into a protectionist stance.
Covert Operations (New Yorker)
The billionaire Koch brothers tout their philanthropic work in public while funding right-wing groups and anti-government initiatives from behind the scenes.
AP Economic Stress Test Index (AP)
How bad is the crisis in your neck of the woods? This interactive AP map has the answers.