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The upcoming Trans-Pacific Partnership (TPP) agreement is using a process that is rigged from the start. It is not being negotiated by governments for the benefit of their people, it is being negotiated by executives (or future executives/lobbyists currently in government) largely for the benefit of the giant corporations they serve. The process has these [...]
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On Monday afternoon 27 people were arrested in front of the Department of Justice and put behind bars. Their crime: Being sick and tired of Washington bailing out banks while there is no bailout for those among the other 99 percent of the country who are drowning in underwater mortgages. Almost 500 activists from the [...]
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Police in Washington made numerous arrests today in connection with the ongoing mortgage foreclosure crisis, in which millions of homeowners lost billions of dollars due to the fraudulent actions of bank executives. But the arrests were not of the criminals who caused the crisis; the people led away in handcuffs today were the victims of [...]
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Thursday on Bloomberg Television, Robert Borosage made the case for Sen. Elizabeth Warren’s Bank On Student Loan Fairness Act, which would set student loan interest rates at the same rate banks get from the Federal Reserve discount window: “There is a universal consensus that we have to educate the next generation. And now college is [...]
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On July 1, interest rates on student loans will double, jumping to 6.8%, according to current law. While the Big Banks are now enjoying interest rates of almost zero. Enter Elizabeth Warren with her first bill as a Senator: It solves the problem by giving students the same rock-bottom interest rates as the big banks. [...]
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The CEO of a big company makes 1795 times what its clerks are making, and the company is now in trouble. Does it matter which company, when so many other companies are in a similar situation? There is a three-year-old law that requires companies to disclose to shareholders the ratio of CEO-to-worker pay, but the [...]
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Take a look at the 2013 Edition of the website called Executive PayWatch from the AFL-CIO. This site, active since 1997, helps drive awareness of the huge wage gap between CEO pay and the average employee. Compare your pay to the pay of top executives. Heck, you might even make more than they do! (Hint: [...]
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Republicans criticize government spending when it is about making our lives better. Of course, by definition all government spending is done to make our lives better. (In a democracy government spending is We, the People deciding how and where to spend the money. Would we decide to spend money to make our lives worse?) In [...]
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Congressional Republicans came to Silicon Valley this week to raise money from CEOs and their companies. They were offering a flat-out quid pro quo: give us money and in exchange we will cut your taxes, block taxes on profits made from moving jobs out of the country, cut government oversight of various schemes you try, [...]
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It’s hard to believe considering what happened in 2008 on Wall Street and in Washington, but banking is built on trust. A worker hands his hard-earned dollars to a teller and trusts the money will be deposited and available for withdrawal when needed. Despite the crash on Wall Street, workers still trust bankers to safeguard [...]
