Poverty Unchanged By Wall Street Recovery

By: Wednesday September 17, 2014 9:19 am

Though the federal government and Federal Reserve moved heaven and earth to ensure the 1% were made whole after the financial crisis, those unable to buy influence in Washington remain frayed. According to the Census Bureau over 14% of Americans remain below the poverty line while financial markets have made a considerable recovery from 2008 [...]

Eric Cantor Goes To Wall Street

By: Wednesday September 3, 2014 4:27 am

In what is probably a surprise to no one, former House Majority Leader Eric Cantor has gone to Wall Street in the aftermath of his primary election defeat. Cantor will be working for Moelis & Co as vice chairman and managing director despite having little on his resume to justify the position. For his largely [...]

Will Bank Of America Really Pay $17 Billion For Mortgage Fraud That Led To 08′ Crash?

By: Thursday August 21, 2014 9:12 am

Throughout the media the figure of $17 billion has been paraded out as the penalty Bank of America will pay for its crimes in the mortgage security market that led to the 2008 financial crisis and resulting Great Recession. But will BofA really be paying that much? If the other deals struck for the same [...]

Jobs Lost Due To Financial Crisis Replaced With Ones That Pay 23% Less

By: Tuesday August 12, 2014 8:11 am

The top 1% are richer than we thought. http://t.co/AE4PGTyKR3 pic.twitter.com/ov34ipuZaG — Bloomberg VisualData (@BBGVisualData) August 11, 2014 It’s the fake recovery, stupid. Despite lavish talk of an economic “recovery”, consumer confidence has remained low. Unlike the 1% who are seeing their wealth climb higher on the back of juiced financial markets and tax cheating the [...]

Newspaper Industry Takes Potentially Lethal Blow With Spinoffs

By: Monday August 11, 2014 7:53 am

We all knew this day would come. With the latest spinoff by Gannett of its extensive newspaper portfolio expected to be completed by the end of 2015, it now appears finance capital has written off the newspaper industry. On some level this was inevitable given the movement of advertising from print to the web, but [...]

Privatization Of World Water Supply Kicks Into Gear

By: Tuesday July 29, 2014 7:55 am

How much would you pay to stay alive? As climate change makes the planet less hospitable for human life in numerous well established locations, a major push is taking place by transnational corporations to secure claims on the most valuable commodity on earth – water. While privatizing and commidifying water supplies has been a neoliberal [...]

DOJ Citigroup Settlement Lacks Disclosure Of Victims And Criminal Conduct

By: Tuesday July 15, 2014 7:52 am

On Monday the Department of Justice and Attorney General Eric Holder announced a meager $7 billion settlement with Citigroup for causing the most severe financial crisis since the Great Depression by fraudulently selling mortgage securities that wrecked the financial markets. AG Holder celebrated the settlement and claimed “This historic penalty is appropriate given the strength [...]

Citigroup Pays Just $7 Billion For Causing Financial Crisis

By: Monday July 14, 2014 7:22 am

Citigroup, one of the most dysfunctional and malevolent financial institutions in American history, has agreed to pay $7 billion to settle investigations into the fraud it committed in the mortgage security market that led to the financial crash of 2008. The selling and marketing of volatile mortgage security products to investors around the world as [...]

Study Shows Being Rich Makes You An ‘Asshole’

By: Tuesday July 8, 2014 7:27 am

Ever had the sneaking suspicion that most rich people are jerks? Well the connection between wealth and narcissism has now been studied and the results show that as people get richer, they are more likely to feel entitled, to exploit others, and to cheat. According to studies by psychologist Paul Piff, wealth leads humans to [...]

Obama Backs Away From Inequality Debate To Comfort Corporate Democrats

By: Monday July 7, 2014 7:44 am

Months ago it was “the defining issue of our time”  today it’s a hazy memory of a dreamy talking point. According to the Washington Post, President Barack Obama has “largely abandoned” talking about wealth inequality in America to appease corporate Democrats worried about losing support from the wealthy contributor class. So instead of taking on [...]

Eric Holder’s Legacy To Be Failing To Hold Wall Street Accountable

By: Tuesday July 1, 2014 11:26 am

Attorney General Eric Holder, appointed in the beginning of Barack Obama’s presidency, is beginning to have his legacy evaluated and it is not looking good. A creature of Wall Street who helped represent some of the culprits of the mortgage crisis in private practice, Holder never made an honest or substantive efforts to go after [...]

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