The White House deal with Big Pharma undermines democracy (Salon, Robert Reich)

Little guy who was a big wheel in Clinton administration is "appalled" that the Obama administration "has promised Big Pharma that any healthcare legislation will bar the government from using its huge purchasing power to negotiate lower drug prices." Accurately points out: "Any bonanza for the drug industry means higher healthcare costs for the rest of us."

Plea Is Due From Aide to Madoff (WSJ)

Frank DiPascali we're talking about, but still unclear whether he'll testify against others. Some of Bernie Madoff's "highest-profile investors" might want to enjoy their August vacations while they can.

Fed Focusing on Real-Estate Recession (Bloomberg)

"The collapse in commercial real estate is preventing Federal Reserve Chairman Ben S. Bernanke from declaring the economy and financial markets are healed."

Paulson's Calls to Goldman Tested Ethics (NYT)

That's putting it mildly. Details on what we already strongly suspected: that Hank Paulson doled out aid "that directly benefited his former firm." Records show that Paulson was constantly on the phone during the crucial days of last September with current Goldman CEO Lloyd Blankfein.

The me-first, screw-everyone-else crowd: Nothing will keep the rich from whining about how tough easy street is (Salon, David Sirota)

When they "scream" that business taxes simply can't be hiked, you should say, "Here's the smallest violin in the world playing for the businesses."

Debt Burden to Weigh on Stocks (WSJ)

"The economy isn't strong enough to support a long-running stock and bond recovery, despite hopeful signs, many warn," especially because, "as consumers cut borrowing and boost savings, they can't be reliable drivers of growth."

Foreigners See Dubai's Dark Side (WashPost)

"In economic slump, those who arrived seeking riches now face a prison cell or furtive flight." Dubai's rulers "hunt for foreign culprits to blame for the sheikdom's sliding economic fortunes, and "among those who have been locked up are a JPMorgan investment banker; American, British and other foreign property developers; a German yachtmaker; and two Australians who worked as senior executives of what was to be the world's largest waterfront development."

Sam's Club Tests The Big-Box Bodega (WSJ)

Wal-Mart goes after the Latino market with Más Club big-box stores.

Is Obama Punking Us? (NYT, Frank Rich)

Rips Obama for "old boys' club" of economic advisers, secretive deals on health-care package, etc. "The making of legislative sausage is never pretty. The White House has to give to get. But the cynicism being whipped up among voters is justified. Unlike Hillary Clinton, whose chief presidential campaign strategist unapologetically did double duty as a high-powered corporate flack, Obama promised change we could actually believe in." Verdict so far? Progressively worse.

States End Up Losers in Gambling Pullback (WSJ)

Weak economy and rising unemployment mean fewer gamblers? Hard to believe, but that's what this story says in noting that lottery and casino revenues are down for the first time in many of the 48 states that depend on gambling revenue.

Dish Network Profit Falls 81% in the Second Quarter (WSJ)

Sharp contrast from DirecTV, but no surprise, because Dish "focuses on the lower-end consumer, who is getting squeezed" by the recession.

Chances of Fed Raising Rate? Near Zero (WSJ)

Nice pun, but seriously, folks, there may very well be a rate hike soon — not after this week's Fed meetings but soon. That's what we'll get because of the "surprising dip in unemployment." The average Joe just can't win.

How Uncle Sam Owns Ken Lewis (New York, Heidi N. Moore)

"Implausible" that the government is "ruling Wall Street"? Yeah, maybe. But Ken Lewis, "who has always hoarded power and earned a reputation as a standoffish, acid-tongued loner," is the government's bitch.

Publicis to Buy Microsoft's Razorfish (Reuters)

Big deal in Microsoft's Bing war against Google. Publicis is one of the world's biggest cluster of ad agencies (Leo Burnett and Saatchi & Saatchi, et al.) and will give Microsoft a smokin' deal on display and search ad services. In return, Publicis "increases its position in digital communications." Clever deal.

Rio Spying Cost China Mills $102 Billion, Agency Says (Bloomberg)

Third-largest mining company in the world spied on China steel mills for six years, Chinese government says. Six years? That's all?