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Treasury lied to public about health of big banks last October + may have unfairly distributed TARP funds, says Report from Neil M. Barofsky, special inspector general for the Troubled Asset Relief Program: http://bit.ly/JeUBZ (NYTimes.com)

This seems to be The President's modus operandi - 1) Lay out clear markers that are supported by a majority of Avericans - i.e. balanced approach with cuts and revenues; 2) Watch the republicans take a hard line to satisfy the tea party; 3) Give the republicans 99% of what they want; 4) Blame the left for not compromising. It looks like the framework for the deal is beginning to take shape, and it's not at all surprising. Tilted heavily toward cuts that will affect the middle and working classes disproportionately, and almost tailor-made to spare the rich any sacrifice whatsoever. While this is not surprising given the terms of the debate, it still boggles the mind to witness our republic complete its transformation into the very definition of a plutocracy. We have a political system designed specifically to protect the interest of the monied elite (I suppose one could argue that this had been the case for a long time, but it only really became nakedly, brazenly obvious during the 2008 financial crisis). Stories like these don't end well. Including for the elite. The history books are replete with warnings. Our country is going into a dark time.

"Until early Wednesday morning, Greg Smith was a largely anonymous 33-year-old midlevel executive at Goldman Sachs in London. Now everyone at the firm - and on Wall Street - knows his name. Mr. Smith resigned in an e-mail message to his bosses at 6:40 a.m. London time, laying out concerns that Goldman's culture had gone haywire, putting its own interests ahead of its clients."