America is being strangled by unchecked corporate power, and it’s leaving a trail of dying cultures, communities and peoples. Seeing that, explaining that, fighting that, and yes, fixing that, is your job, Mr. President.

The same central bankers in the United States, Europe and elsewhere, whose mistakes led to the current economic crisis, are still in power. They are now telling governments to cut Social Security, health care spending and to force workers to take pay cuts.

On Thursday, the U.S. Senate passed a financial reform package that includes a handful of important reforms, but it won’t fundamentally change the relationship between banks and society. Wall Street still has a vice grip on our economy, and lawmakers still find it very difficult to stand up to bigwig financiers.

The financial reform doesn’t go nearly far enough because it leaves the biggest bubble of them all in place — Wall Street itself. The net result will be a further decline of the middle class and a distribution of wealth to the super-rich.

Discussion on the trade deficit, and how it empowers Wall Street

Since Goldman stocks have taken a pounding in recent days, it’s no surprise Buffett would try to defend the firm in which he has so much invested. But what are we to make of his suggestion that those dealing with Goldman were making “dumb credit bets”?

The wealthiest financiers make billions for activities which we do not understand and which may not provide value to our economy and society. Meanwhile we lay off thousands of teachers. What’s wrong with this picture?

Goldman Sachs has told the media it didn’t structure the Abacus deals under SEC investigation to fail, because it invested its own money in the deal. But a Goldman witness today explained they had not choice: they wanted to lay it off but couldn’t.

Last night, Senate Republicans proved beyond any doubt that when it comes to the economy, they stand with Wall Street and against everybody else. Joined by lone Democrat Sen. Ben Nelson (D-NE), Republicans successfully filibustered the procedural technicality of opening debate on Wall Street reform. It’s an unmistakable ploy to kill the bill and collect campaign cash from bigwig bankers. The coming weeks won’t be pretty.

Momentum is building to do *something* about economic reform– not just in Congress and in the White House, but also in conferences and in the Financial Crisis Inquiry Commission (FCIC). But will it be enough?