Portside

Just as with the American subprime crisis, and the current plight of many American cities, Wall Street’s predatory lending played an important although little-recognized role. Undoubtedly, Greece suffers from years of corruption and tax avoidance by its wealthy. But Goldman wasn’t an innocent bystander: It padded its profits by leveraging Greece to the hilt—along with much of the rest of the global economy.

Hillary Clinton's record in office suggests that she is more liberal than either her husband or Barack Obama, and in a Monday speech outlining her economic vision she set out to confirm that. However, still lacking is much policy detail as to how this difference might look in practice. A future Clinton administration might help change the norms of corporate governance to foster the kind of labor relations that everyday workers have not experienced in decades.

If you really worry that the U.S. might turn into Greece, you should focus your concern on America’s right. Because if the right gets its way on economic policy — slashing spending while blocking any offsetting monetary easing — it will, in effect, bring the policies behind the Greek disaster to America.

Federally backed student loans have been available in this country, in one form or another, since the 1950s. But student debt has only reached crisis proportions in recent decades.

Tom Lehrer -- We'll All Go Together When We Go. Detroit Man Beaten by Police Speaks Out. Boom Bust Boom Trailer. New York Subway's Danny Small. SEC's Andrew Bowden at Stanford – A Regulator for Sale?

When more and more can be done by fewer and fewer people, the profits go to an ever-smaller circle of executives and owner-investors. It may be that a redistribution of income and wealth from the rich to the rest of us becomes the only means of making the future economy work.

A profound crisis of identity burdens the Democratic Party. What does the party really believe? Whose interests will the nominee truly fight for? Democrats lost their old soul long ago. The 2016 election could become the decisive moment that either transforms the party with an aggressively liberal economic agenda or clings to the past and the “corporate-friendly” straddle devised a generation ago by Bill Clinton’s New Democrats.

Reader Comments - NAACP Bombing; Ferguson Grand Jury; Charlie Hebdo and the Religious Right; Ukraine, Russia and Nazi Revival; TPP Power Grab; 2014 Worker Victories; NYPD Insubordination = Drop in Crime; Thomas Piketty; Selma,Martin Luther King, LBJ and Reality; Gap Between Productivity and Pay; BDS, Palestine and Israel; Cheap Gas; Announcements - Cuba Five Book Signing; New Resource - Greece, Golden Dawn and Fascism