News & Comment
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Cause For Hope: Robin Hood Tax Advances in Europe by Katrina vanden Heuvel, The Nation | October 16, 2012
Here’s a piece of unadulterated good news: At a meeting of European Union finance ministers last week, eleven European Countries agreed to support a financial transaction tax. It’s the latest step in the truly heartening rise of a much-needed common sense reform. It’s high time that U.S. progressives take heed, and draw inspiration. I’ve argued before that a financial transaction tax is a win-win: raising revenue to avert austerity, while discouraging speculation to avert the next Wall Street-induced disaster. On this issue, fortunately, the momentum is all on the good guys’ side. Last month, Congressman Keith Ellison introduced a great FTT bill for America. The news from Europe should strengthen its momentum, for reasons abstract and concrete. read more »It's Time to Debate Bain Capitalism by John Nichols, The Nation | October 16, 2012
Illinois Senator Dick Durbin was not planning to be at Obama’s side for today’s final round of debate preparation. Rather, Durban was headed back home to Illinois for a meeting with workers at the Sensata Technologies plant in Freeport, where 170 employees are slated to lose their jobs to outsourcing before the end of the year. Sensata is precisely the sort of high-tech operation that a country looking to compete in the global economy of the 21st century would want to maintain as a domestic manufacturer. So why are the jobs moving to China? Because Bain Capital owns the company, and Bain is committed to the industrial development of Chinese provinces – not to states like Illinois. That’s not what most Americans would identify as a smart choice for the nation’s future – let alone “economic patriotism.” But that is how Bain, which got its operating ethos from former CEO Mitt Romney, operates. read more »The National Debt and Our Children: How Dumb Does Washington Think We Are? by Dean Baker, Huffington Post | October 16, 2012
While much of the country is focused on the presidential race, the Wall Street gang is waging a different battle; they are preparing an assault on Social Security and Medicare. This attack is not exactly secret, but the drive is nonetheless taking place behind closed doors. The corporate honchos are not expecting to convince the public that we should support cuts to Social Security and Medicare. They know this is a hopeless task. Huge majorities of people across the political spectrum strongly support these programs. Instead they hope that they can use their power of persuasion, coupled with the power of campaign contributions and the power of high-paying jobs for defeated members of Congress, to get Congress to approve large cuts in Social Security, Medicare, Medicaid and other key programs. This is the plan for a grand bargain that the corporate chieftains hope can be struck in the lame duck Congress. read more »Morgan Stanley: Please Allow Me to Introduce Myself ... by Richard (RJ) Eskow, OurFuture.org | October 15, 2012
"Please allow me to introduce myself, I'm a man of wealth and taste ..." read more »Morgan Stanley: Please Allow Me to Introduce Myself ... by Richard (RJ) Eskow, OurFuture.org | October 15, 2012
"Please allow me to introduce myself, I'm a man of wealth and taste ..." read more »Education Profiteering: Wall Street's Next Big Thing? by Jeff Faux, alternet.org | October 15, 2012
The end of the Chicago teachers' strike was but a temporary regional truce in the civil war that plagues the nation's public schools. There is no end in sight, in part because -- as often happens in wartime -- the conflict is increasingly being driven by profiteers. The familiar media narrative tells us that this is a fight over how to improve our schools. On the one side are the self-styled reformers, who argue that the central problem with American K-12 education is low-quality teachers protected by their unions. On the other side are teachers and their unions who are cast as villains. The conventional plot line is that they resist change, blame poverty for their schools' failings and protect their jobs and turf. It is well known, although rarely acknowledged in the press, that the reform movement has been financed and led by the corporate class. read more »"Town Hall" Debate: Will Voters Ask the Medicare and Social Security Questions Reporters Haven't? by Richard (RJ) Eskow, OurFuture.org | October 14, 2012
If you support strong and effective government, then the unfamiliar glow you felt after last Thursday's debate was the satisfaction of seeing your opinions forcefully defended by a national candidate. There hasn't been much of that going on lately. But a deceptive question was asked in the Vice Presidential debate, while other important ones still haven't been asked of any national candidate. read more »Diamond Jamie: Latest News On the JPMorgan Chase Crime Watch by Richard (RJ) Eskow, OurFuture.org | October 13, 2012
History will judge us, at least in part, by our willingness to defend our moral principles against the corrupting influence of the Wall Street capos. So far their campaign cash and lucrative revolving-door jobs have kept them above the law, while their PR firms and personal salesmanship have exempted them from moral judgement in the inner corridors of wealth and power. Al Capone's Chicago had nothing on today's Washington DC. read more »Diamond Jamie: Latest News On the JPMorgan Chase Crime Watch by Richard (RJ) Eskow, OurFuture.org | October 13, 2012
History will judge us, at least in part, by our willingness to defend our moral principles against the corrupting influence of the Wall Street capos. So far their campaign cash and lucrative revolving-door jobs have kept them above the law, while their PR firms and personal salesmanship have exempted them from moral judgement in the inner corridors of wealth and power. Al Capone's Chicago had nothing on today's Washington DC. read more »Fast-Forward to 2013 by Marilyn Katz, inthesetimes.com | October 12, 2012
I'll give it to Mitt Romney. During the debate he looked and sounded pretty “presidential”: good haircut, power tie, in command (total control, really) of the debate. Romney’s performance had the intended effect. Virtually every poll across the nation had his numbers soaring in the past week. Many show him leading Obama both in the popular vote and in critical swing states. Presumably, that means many American are now ”looking at Romney in a new light.” While his running mate Paul Ryan didn't do as well, for those who were swayed by Romney's performance, it might be prudent to think past his style or what positions he chose to take that night. Based on Romney’s record—as well as the agendas of his party, his running mate and the Super PACs to which he would owe his victory—let’s take a moment to envision what life would be like under a Romney presidency. read more »
The Latest
Runaway Spending on War Contractors, The New York Times | September 19, 2011
War especially privatised war looks profitable; for various reasons the US military and executive branch has sought to disguise troop numbers and outright cost of its conflicts and wars by the simple expedient of paying privateers, mercenaries, to conduct security operations on their behalf. more »
Europe's banks are staring into the abyss, blogs.telegraph.co.uk | September 14, 2011
It ain't pretty;
The German people are grumpy, the French people are grumpier, there may be vast consequences and fall out in the US. Here is a heads up, mark it well and then take a good look at Dimon, JP Morgan and the Fed. more »
Students Challenge Campus Spending on Bottled Water, stopcorporateabuse.org | September 10, 2011
Some U.S. firms paid more to CEOs than taxes: study, Reuters | August 31, 2011
First Federal Reserve Audit Reveals Trillions in Secret Bailouts, ipsnews.net | August 29, 2011
Just In case you missed it amongst the hacking scandals, the endless humanitarian wars and bombing the Federal Reserve slipped out the results of its 'One Time' audit. more »US debt: how big is it and who owns it?, The Guardian | July 15, 2011
Whistleblower Blew the Lid Off Wachovia-Drug Cartel Money Laundering , alternet.org | June 12, 2011
From the Wall St hall of assholes...
Apart from Goldman Sachs "Doing the Work Of God" by creating bad financial products then betting against them nothing epitomises the sickening unaccountable nature of the US banks AND the negligent ineffective US government than this hideous truth. It is a relationship abusive to its own citizens and a betrayal of them. more »
Bankers Blowing Bubbles in Basel: Vampires Lobby Congress and World, The Guardian | June 6, 2011
Our Government Is Corrupt Through and Through -- Where's the Outrage?, alternet.org | May 23, 2011
Congressional and administrative lobbyists can be the conduits of corruption, a democracy bypass, we know this, the FBI know this, everyone in America and the world knows this. It is systemic. But judges surely not? more »
Super Rich See Federal Taxes Drop Dramatically, commondreams.org | April 23, 2011
WASHINGTON – As millions of procrastinators scramble to meet Monday's tax filing deadline, ponder this: The super rich pay a lot less taxes than they did a couple of decades ago, and nearly half of U.S. households pay no income taxes at all.
America building an unfair society or just telling it like it is?
