JPM) mammoth losses in the London Whale trading debacle -- and criminal activities. Many of its executives, and perhaps the bank itself, face criminal indictment according to the recent settlement of civil and regulatory claims with the Justice Department.
Economists across the spectrum propose reasonable solutions to the problems of Chinese and Japanese currency manipulation that swell U.S. store shelves and car showrooms with artificially-cheap, subsidized goods and steal jobs from American workers. Printing lots of money and dolling out Medicaid and health insurance subsidies to families earning up to $100,000 a year, funneling money to states to hire more unionized workers to reliably vote Democrat and standing idle while the IRS terrorizes conservatives who criticize the president's policies won't fix what's broke. The combination is a prescription for the decline, distain and despair that gave Europe fascism in the 1930s, and if the Democrats beat down the middle class enough, don't think it can't happen here. American democracy has always stood on a foundation of individual initiative, personal responsibility, and prosperity. Those are going away as Barack Obama changes America. Follow @PMorici1 This article was written by an independent contributor, separate from TheStreet's regular news coverage.