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Washington Monthly "...real entrepreneurs and real scientists and real executives and real bankers and real farmers and real software engineers and real venture capitalists tend to understand quite well how real power is used against them." -March 2010

I was tooling around the internet for awhile yesterday, looking for a transcript of the Congressional hearings that featured Goldman Sachs executives and traders as the star witnesses, before I realized that nowhere in print was there any real sense of what had gone on. Congressional hearings may have been effective at some point in the past, but these days, the witnesses are usually far too polished and used to dissembling for hours at a time to be of any real value, and the senators and congressmen who are asking the questions are usually too polite to do more than ask questions of little or no value. Senator Carl Levin tried to deviate from that formula on Tuesday. He was harsh, unyielding and relentless. "Your clients lost. Goldman profits" rang out several times during his opening address. But Senator Levin didn't have enough of an understanding of the business to really pin back the ears of any of the witnesses, including Lloyd Blankfein, Goldman Sachs chairman. I couldn't figure out for the life of me why his staffers didn't line up a few disgruntled traders and insiders to give the senator a three or four day crash course on the business. His gambling analogies were something that might appeal to my grandmother, who puts gambling of any kind up there with the cardinal sins, but missed the mark when it came to characterizing Wall Street's shenanigans.

Chris Christie says 'climate change is real' while vetoing climate action ~ @grist http://t.co/1qKpnYw

"Get Free From Wall Street: An Interview With David Korten How to avoid money games and create real wealth. "

"Health-care bill wouldn't bring real reform TOOLBOX Resize Print E-mail Yahoo! Buzz ad_icon COMMENT 248 Comments | View All » POST A COMMENT You must be logged in to leave a comment. Log in | Register Why Do I Have to Log In Again? Log In Again? CLOSE We've made some updates to washingtonpost.com's Groups, MyPost and comment pages. We need you to verify your MyPost ID by logging in before you can post to the new pages. We apologize for the inconvenience. Discussion Policy Your browser's settings may be preventing you from commenting on and viewing comments about this item. See instructions for fixing the problem. Discussion Policy CLOSE Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post. Who's Blogging » Links to this article By Howard Dean Thursday, December 17"

"Our current economic choice is not between capitalism and communism. It is between locally accountable Main Street markets and Wall Street central planning by predatory global financiers."

"Is job security real security? Shannon Hayes makes the case for diversifying your income. "

First multi-expert blog devoted solely to counter-terrorism issues, serving as a gateway to the community for policymakers and serious researchers. Designed to provide real-time information about terrorism cases and policy developments.

Lots of good points, @Karoli; much to meditate on. Would love clarification on the following comment, though: "Can anyone familiar with history point to any time where a bill has made it this far, been pulled back by proponents, and lived as a stronger version of itself?" How is it a "stronger version of itself?" I don't follow Congressional maneuvers with the same background knowledge or attention to detail that you do; I'm probably missing some key information that would clarify your meaning. Really like your myth-busting data. It's refreshing to see a recap of details that can easily escape us. In some cases, your data gives me a point of departure for further research, so I can come to my own conclusions. Without your article, sorting out the key questions to investigate would be much harder for me. Also, I agree that waiting for a better bill, with so many "people hanging by a thread," is a luxury that only the well-heeled can afford. For many legislators, insulated from financial woes, much of this healthcare debate is about anything and everything except healthcare reform. All that said, I'm obviously an idealist who yearns for global, systemic change. I would want to change the fundamental nature of dance competition's culture, if my daughter were involved. It would be hard for me to keep my eye on the pragmatic truths: deep, systemic change of any cultural institution (socioeconomic, sociocultural, or sociopolitical) is a project for centuries, for eons. It's evolutionary. For today, how does your daughter keep following her passion in a system that's unfair? For today, how do we facilitate efforts to get as many health insurance benefits for the most people in a system that's unjust? I'm not sure I entirely buy your solution―but overall, it's a hell of a lot more practical than the one I was about to employ: sinking into helplessness, hopelessness, and depression... In fact, it's a hell of a lot more idealistic than sinking into despair, too! I fe

Sanders/Dodd Audit-The-Fed allows audit of TARP + TALF, but not FOMC, discount window operations, or agreement with foreign central banks. "Even the so called "independent" leftists, Kucinich and Sanders, have both capitulatied to the corporate, class markets and their class despotism, proving they are not real opposition leaders, but phony socialists, phony anti war activists." ~Eric Albert Schwing I read all three versions of the Sanders amendment carefully, and I believe Sanders made a good call if the decision was compromise with Dodd or have no amendment at all. The big differences with the compromise are: -Single audit covering December 1,2007 to May 2010 rather than open-ended audit until all bailout funds are recovered. -Specific parameters on the audit focusing on whether proper procedures were followed and what could be done to improve Fed governance. However it is not clear that the audit is limited to these items. -Fed website still must report lots of previously undisclosed details about the bailout measured-who got what and why. ~bmull

It's intellectually dishonest to have a discussion over the fairness of the tax code and welfare programs without FIRST addressing the inherent inequality of our labor markets, capital markets, access to education, access to the judicial system, access to infrastructure, and intellectual property laws. Fundamentally, if a business leader makes his profits from paying his employees minimum wage at $7.50/hour in an area where a decent livable wage is $15/hour, but where workers have little negotiating leverage and few other options, then it is RIGHT to expect government to tax the business/owner at a high percentage and the workers at a low percentage, and to use tax funds to provide the under-compensated workers with housing and food assistance, as well as other forms of aid. In that scenario, the scenario in which most of our country operates (accounting also for middle-class wage-earners that are under-paid), it is disturbingly unfair to demand that "equality" be applied only at the tax code (even moreso that it only be leveled at the income tax, specifically), as if wealth is earned solely in proportion to some fantastical Randian ideal of personal worth and NOT heavily influenced by real-world power dynamics.

KW writes: My goodness. In a wise, creative, and mischievous response to the nasty rhetoric of the press, the Occupy Wall Street folks have answered propaganda with poetry. What a graceful maneuver in the struggle for social change. Beautiful and heartwarming! For a discussion on the media's quest for one, clear demand from the Wall Street protesters, the group created the following consensus document: A Message From Occupied Wall Street (Day Five) Published 2011-09-22 07:51:42 UTC by OccupyWallSt at OccupyWallStreet.org This is the fifth communiqué from the 99 percent. We are occupying Wall Street. On September 21st, 2011, Troy Davis, an innocent man, was murdered by the state of Georgia. Troy Davis was one of the 99 percent. Ending capital punishment is our one demand. On September 21st, 2011, four of our members were arrested on baseless charges. Ending police intimidation is our one demand. On September 21st, 2011, the richest 400 Americans owned more than half of the country's population. Ending wealth inequality is our one demand. On September 21st, 2011, we determined that Yahoo lied about occupywallst.org being in spam filters. Ending corporate censorship is our one demand. On September 21st, 2011, roughly eighty percent of Americans thought the country was on the wrong track. Ending the modern gilded age is our one demand. On September 21st, 2011, roughly 15% of Americans approved of the job Congress was doing. Ending political corruption is our one demand. On September 21st, 2011, roughly one sixth of Americans did not have work. Ending joblessness is our one demand. On September 21st, 2011, roughly one sixth of America lived in poverty. Ending poverty is our one demand. On September 21st, 2011, roughly fifty million Americans were without health insurance. Ending health-profiteering is our one demand. On September 21st, 2011, America had military bases in around one hundred and thirty out of one hundred and sixty-five countrie

"The Illusion of Money Liberation from subservience to Wall Street begins with a recognition that money is just a number of no intrinsic value. "

"International trade deals allow businesses to sue elected governments when corporate interests are threatened abroad. Here's why you should care. "