April 27

“What you need to know to navigate today’s economic debate.”

Goldman Steels Itself for a Senate Grilling (TIME)
Bigwigs from Goldman Sachs are set to defend themselves today before the Senate Permanent Subcommittee on Investigations.

First Reactions: Dems’ Financial Reform Test Vote Fails (Atlantic)
Democratic passage of financial reform has met its first substantial defeat as a Republican fillibuster endures.

Meet the Real Villain of the Financial Crisis (NYT)
Behany McLean cites a dearth of stringent financial regulations as the real villain in the Goldman scandal.

Probe: Goldman Eyed Profits from Housing Bust (CBS)
Senate investigators find Goldman Sachs deceived investors about toxic mortgages, then lied about it!

The Goldman Drama (NYT)
David Brooks on the cult of establishment and inevitable corruption that is Washington and Wall St.

Deficit Reduction: Argument by Authority (Guardian)
History gives the public serious grounds for being suspicious about the latest efforts to cut Social Security and Medicare.

Relying on the Big Banks to Save the Economy (HuffPo)
Mike Lux repeats the Roosevelt Institute’s mantra of “make markets be markets” as he advocates for looking beyond big banks to repair the economy.