Tag: Business News
FT. SILL: LOAN SHARKS PREY ON TROOPS
Chris Kirkham at The Huffington Post has an outstanding piece chronicling the vultures preying on troops at Fort Sill, Oklahoma. While Fort Sill Religous Support...
For-Profit College Earns Billions for Neocon Washington Post Co. Using Shady...
Veterans and servicemen and women: Beware of the for-profit college funneling money into the leading neocon daily advocating for war. Send the troops away is the...
GOP’s Wall Street Whitewash; GOP Absolves Banks of Wrongdoing
Rep. Spencer Bachus (R-AL), incoming G.O.P. chair of the House Financial Services Committee: “y view is that Washington and the regulators are there to...
An Open Letter to the Ten Wealthiest Financiers in America: You’re...
Dear Messrs, Tepper, Soros, Simons, Paulson, Cohen, Icahn, Lampert, Griffin, Arnold and Falcone,
It's now estimated that about 150,000 teachers will lose their jobs next year because of the financial crisis touched off by your industry.
GOP retreats, abandons blocking of banking regulation
Popular opinion drives the elected representatives for a change.
By JIM KUHNHENN, Associated Press
WASHINGTON – Republicans set the stage Wednesday to lift their blockade against legislation...
Goldman Sachs Emails: Firm Had ‘The Big Short’ As Economy Fell
Caught wind of this from the Huffington Post:
As homeowners were falling behind on their subprime mortgages, wreaking havoc for investors that owned slices of...
Krugman: Don’t Cry for Wall Street
Believe everyone is with Paul Krugman on this one, except for the GOP leadership.
Don’t Cry for Wall Street
By PAUL KRUGMAN
On Thursday, President Obama went...
Republicans on SEC Vote Against Charging Goldman with Fraud
A SEC Vote will reveal a titanic political fight: Wall Street-GOP v. the Obama administration and perhaps some strange bedfellows who despise Wall Street as the...
Does Dow 11,000 mean total Victory for Wall Street?
And why? Because our tax dollars bailed out their butts. The biggest banks would have gone under, and derservedly so, without our largess. Dow 11,000 is primarily a function of the trillions (not billions) of taxpayer dollars that poured into the biggest Wall Street firms in the form of loans, asset gurantees, liquidity programs and other subsidies. Wall Street then used our money to pay themselves lavish bonuses and to lobby against any and all meaningful financial reforms. (See Bob Kuttner's excellent new book, A Presidency in Peril, for the blow by blow of how crony capitalism really works.)
Les Leopold: Why Are 25 Hedge Fund Managers Worth 658,000 Teachers?
In 2009, the worst economic year for working people since the Great Depression, the top 25 hedge fund managers walked off with an average of $1 billion each. With the money those 25 people "earned," we could have hired 658,000 entry level teachers. (They make about $38,000 a year, including benefits.) Those educators could have brought along over 13 million young people, assuming a class size of 20. That's some value.
Are Bailouts for the Super-Rich Inevitable? Ask Paul Krugman
Paul Krugman, the Nobel Prize-winning economist and influential New York Times columnist, says Wall Street institutions have become so big and powerful that they will never be allowed to fail. The only hope he sees is to regulate them thoroughly. He greatly prefers the stricter rules now being offered by Barney Frank in the House to the softer ones coming from Chris Dodd in the Senate. (Neither bill truly tackles the derivatives casino.)