House Democrats Lob Bribery, Tax Evasion Allegations at Walmart

By: Friday August 17, 2012 11:18 am

This is a couple days old, but two House Democrats have come into possession of evidence of significant crimes by Walmart, including bribery. The Democrats, Henry Waxman and Elijah Cummings, sought additional documents from Walmart on possible violations of the Foreign Corrupt Practices Act. The joint investigation by the Democrats on the House Oversight Committee [...]

Businesses Taking Heat Over What to Do With Health Insurance Rebates

By: Friday August 10, 2012 10:14 am

A couple weeks ago, when everybody was hailing the power of the medical loss ratio to send rebate checks to health insurance subscribers, I pointed out that a large percentage of the rebates would just revert back to employers, who could then do with them whatever they pleased, within certain limits. This would potentially not [...]

Cass Sunstein’s Legacy of Distributing Industry Attacks on Regulation Inside the White House

By: Thursday August 9, 2012 1:54 pm

Just to show what a bullet we may potentially dodge with Cass Sunstein out of government, consider this postscript to his career: The outgoing White House regulations chief circulated industry attacks on proposed smog standards among high-level advisers to President Obama, emails released to The Hill through a FOIA request show. Cass Sunstein, the regulatory [...]

Fraud Pays: Regulators Slow to Prosecute, Focused on Civil Rather than Criminal Penalties

By: Wednesday August 8, 2012 8:15 am

The question that many of us asked in the wake of the revelations about money laundering at Standard Chartered Bank is why the federal regulators did apparently nothing, and that this had to get revealed by New York’s Department of Financial Services. The credible speculation here is that the feds were working on a deferred [...]

Fiscal Cliff Already Having Impact on Hiring

By: Monday August 6, 2012 7:35 am

Nelson Schwartz reports that the prospects of Congress allowing the country to fall over the fiscal cliff, that combination of tax hikes and spending cuts set to trigger at the end of the year, has already led to businesses pulling back on hiring: A rising number of manufacturers are canceling new investments and putting off [...]

More Evidence Emerges That Romney Committed Felony By Lying to the FEC

By: Wednesday July 25, 2012 12:21 pm

That would be the alternate headline to this AP story about Romney’s Bain Capital timeline: Republican presidential candidate Mitt Romney has said he had no active role in Bain Capital, the private equity firm he founded, after he exited in February 1999 to take over Salt Lake City’s Winter Olympics bid. But according to Bain [...]

Steven Pearlstein Informs Us of a Corporate-Led Coup

By: Monday July 23, 2012 10:14 am

In the wake of the news about the expectations that the poverty rate rose in 2011 to pre-Great Society levels, I have to second Dean Baker’s story about the plans by the corporate elite to exacerbate that problem even more. Steven Pearlstein at the Washington Post wrote approvingly over the weekend of an effort by [...]

Republicans Block DISCLOSE Act, Dems Pull All-Nighter

By: Tuesday July 17, 2012 6:15 am

As expected, Republicans filibustered the DISCLOSE Act last night, as the legislation that would have forced disclosure on political campaign expenditures failed 51-44. Republicans who voted all united against the bill, and they were joined by West Virginia’s Joe Manchin, who is sure to have a wide variety of independent expenditure ads funded by secret [...]

The War On Workers Comes to California, in Disguise

By: Thursday July 12, 2012 7:10 am

After the victory in Wisconsin, many wondered where conservative interests would strike next to finish off unions and permanently alter the power relationship between labor and capital. It appears the next step is California. In November, voters will decide on an initiative, Prop 32, that would “eliminate unions from having any voice in politics whatsoever,” [...]

10,000 Protest Wal-Mart in Los Angeles

By: Sunday July 1, 2012 9:58 am

In what was billed as the largest mass protest in history against the retail giant, an estimated 10,000 union members and community leaders rallied on Saturday against the building of a Wal-Mart Neighborhood Market in Los Angeles’ historic Chinatown. It’s one of three Neighborhood Markets slated for Southern California, carrying with them the threat of [...]

Romney Hounded By Continuing Revelations About Bain Capital

By: Monday June 25, 2012 8:30 am

You could either read this as Mitt Romney being defined as a soulless corporate raider early enough for him to have trouble reversing it, or the set of stories on Romney’s early career at Bain Capital coming out too early to be a factor in the Presidential race because nobody’s tuning in at this stage. [...]

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