Kill Credit Suisse!

leadIn a great op-ed in The Atlantic by James Kwak, Kwak argues that Credit Suisse, a Swiss bank that plead guilty to helping rich Americans evade income taxes for years in terms of billions of dollars, should be punished by revoking it’s license rather than getting the slap on the wrist it is currently receiving.

He argues that this is not a “too big to fail” situation for Credit Suisse for it is a solvent entity.

This is his three step plan to accomplish such an end:

First, Credit Suisse could simply be allowed to operate for, say, three years—enough time to sell off its assets and close its positions without having to take “fire sale” prices. Second, the bank could create a new, licensed subsidiary. That subsidiary could take over all of Credit Suisse’s current positions that can’t be closed easily, and then authorized to operate solely in runoff mode. Third, the government could create a new entity (roughly like the Resolution Trust Corporation) that would buy Credit Suisse’s more complicated assets and positions and then unwind them over as long a period as necessary, eliminating the pressure to sell quickly at a loss.

After 2008, we cannot allow big financial institutions operate with impunity when they are breaking the law with so much on the line. This insightful argument by Kwak could lead to a new blueprint for dealing with the corruption of Wall Street.

Read Here.

 

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Overcoming Our Money-In-Politics Problem: A Plan

leadA great article by Lawrence Lessig in The Atlantic putting forth a plan to take the massive amount of money in politics today out of the system.

It may be a little over the top, but Lessig makes a compelling argument for the effort.

Read Here.

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The Myths of Inner-City Black Culture

leadA good, almost prose piece in The Atlantic that tackles the myths regarding the so-called “cultural pathology” of inner-city black culture and its pervasiveness across the politically-ideological spectrum.

Read Here.

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On The Venezuelan Crisis

lead_001A great piece in The Atlantic for anyone who is interested in the current crisis in Venezuela. Author Moises Naim gives a rebuke of the Maduro administration while siding with the protesters in the streets.

But keep in mind the caveat that in the article Naim discloses that he was Venezuela’s minister of trade and industry and director of its Central Bank from 1989-1990. So he may favor the upper/middle class opposition in his arguments.

Read Here.

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Jesus Is Not White!

e07fc8d1aA great piece in The Atlantic by Jonathan Merritt rebukes FOX’s Megyn Kelly’s forceful statement that Jesus was white. (Note: Depictions of Jesus in Chinese art portray him as Asian)

Read Here.

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Surveillance State: Could It Manipulate Elections?

29b466736A great thought-piece in The Atlantic by Conor Friedersdorf exploring the question of rather or not the mass-data being collected by the NSA and the CIA could be used to manipulate elections. He explores many differing scenarios through which this could happen. An important read.

Read Here.

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What Dangers Does Mass Data Collection Entail for Americans

NSAA great piece in The Atlantic on all of the reasons why we should fear the mass collection of data by the NSA and other government agencies.

It’s the best critique of the NSA spying programs, and their so-called “defense” of it,  I’ve read yet. A lot of in-depth thought and reasoning.

Read Here.

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The Use of “Patriotism” by Cynical Actors

grandoldflagThough I do not wholly agree with this piece in The Atlantic, it makes some very good points about being aware of leaders and ideologies draped in the American flag.

Read Here.

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Egypt Now Fertile Ground For Extremists?

egypthirshbannerA good article by Michael Hirsch in The Atlantic proposing that Egypt may become the new, fertile recruiting ground for Islamic extremists and how the lack of a clear American foreign policy stance on recent events is just increasing the odds of this happening.

Read Here.

Rigged to Favor The Rich

don't cheat full flickrA great article in The Atlantic by Conor Friedersdorf that begins with the assumption that the system is rigged to favor the elite. But what gets interesting is his analysis is his judgement of what is a better solution: redistribution or a focus on ill-gotten gains?

He also has some great recommendations for a more egalitarian and just society proposed in this terrific piece.

Read Here.