Posts Tagged ‘ financial crisis ’

Republicans Will Cave In Debt Ceiling Standoff

May 10, 2011
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Republicans Will Cave In Debt Ceiling Standoff

The debt ceiling standoff is political theater to provide cover for cutting assistance to the bottom 90%. WaPo article: Boehner demands ‘trillions’ in spending cuts in exchange for lifting debt ceiling The owners of the Republican Party would never allow their Congress to cause a US default: they have way more to lose than the…

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UNSPEAKABLE: 81% of Americans Would Tax Rich to Cut Deficit

March 19, 2011
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UNSPEAKABLE: 81% of Americans Would Tax Rich to Cut Deficit

When a Feb. 24 NBC/WSJ poll asked Americans to pick the top ways that they would tackle the U.S. deficit, 81% chose to add a surtax on income over $1 million. I repeat: 81% of Republicans, Democrats, tea partiers and independents said, “Tax the Rich.” Folks, you couldn’t get 81% of Americans to agree that…

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SEC Wistleblower: More Madoffs to come.

December 27, 2008
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SEC Wistleblower: More Madoffs to come.

An SEC whistleblower says there are more Madoff-sized frauds to come. In retrospect, the fraud that pervades Wall Street is exactly what we should expect under the blind eye of an administration run by people - that is to say, Republicans - who believe that markets self-regulate and the main job of government is to…

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Free Market for CEOs

December 23, 2008
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Dean Baker points out a fundamental flaw in a Washington Post article on supposed difficulty of limiting executive pay. Maybe we need to start off-shoring our executives or add top management positions to the H1-B Visa program. I'm thinking there are plenty of Chinese and Indian managers who could do at least as good a…

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Pay Double Standards and American Mythology

December 21, 2008
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Pay Double Standards and American Mythology

Why does American business logic says that to be competitive you have to pay your workers less and pay your executives more...much, much, much more? It seems to me that we moved away from a meritocracy and into a plutocracy decades ago - around the time that median income stopped increasing apace with productivity, and…

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The Financial Crisis Explained In One Easy Chart

December 17, 2008
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The Financial Crisis Explained In One Easy Chart

Jeff Frankels explains the the origins of the economic crisis in one chart!

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Friedman: We need an ethical bailout

December 17, 2008
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Thomas Friedman in NYT discusses Bernard Madoff, former chairman of NASDAQ, who admitted last week that his $50 billion hedge fund really just a Ponzi scheme. Friedman doesn't have to stretch far to label our entire financial morass, from sub-prime mortgages, to collateralized debt obligations and credit default swaps, to mind-blowing executive bonuses for faked…

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