Financial crooks brought down the world’s economy but the feds are doing more to protect them than to prosecute them
I still wonder this. WHY ISN’T WALL STREET IN JAIL??
A Congressional inquiry’s findings were remarkable both for the tens of billions of dollars involved and for Apple’s audacity in saying some of its subsidiaries were stateless and beyond any tax authority’s reach.
Source: The New York Times
“A McDonald’s job listing for a cashier in Massachusetts demands a bachelor’s degree and two years experience. Previously, only people in managerial or corporate positions needed that kind of degree, further showing how bad the unemployment situation is for college graduates.”
This video is well worth 6 minutes of your time. Please watch it - because as a former boss of mine said: "No matter how informed you think you are about the disparity of wealth in this country, this is worth 6 minutes of your time. Not because you are not getting your fair share, rather because this kind of disparity breeds violence that will affect us all."
The issue of wealth inequality across the United States is well known, but this video shows you the extent of that imbalance in dramatic and graphic fashion.
The video, which started going viral on Friday and whose traffic continues to climb on YouTube — reflects the facts as seen from many different sources. We present it without comment, letting you, our readers, be the judge.
If you haven’t checked out this series from Baltimore’s local NPR station, “The Lines Between Us,” you should take a minute and check it out.
This episode focuses on the staggering decline of the middle class in Baltimore. You can listen for free here.
In 1970, two-thirds of Americans lived in middle-income neighborhoods, according to the US2010 research project. Now it’s less than half, and the proportion of poor and rich neighborhoods has doubled. On the map to the right, you can watch middle-income neighborhoods (the lighter colors) be gobbled up by the red (affluent) and blue (poor) neighborhoods over time.
It’s not just that rising income inequality is depleting the middle class that would fill those middle class neighborhoods, according to Sean Reardon, one of the US2010 researchers who provided us the maps. Americans are sorting themselves by income more than ever.
…the top rate on the super-wealthy was 92% in the 1950’s, but only 35% today.
Despite complaints by stockholders of major companies regarding corporate CEOs’ inflated pay scales, “executive pay just keeps climbing,” the New York Times reported this weekend.
"Rewards at the top are still rich," the Times noted, "and getting richer," with median pay of the nation’s 200 top-paid CEOs in 2011 topping $14 million.
It’s time for Congress to put Wall Street reform back on the agenda. We support passing a new Glass-Steagall law to prevent too-big-to-fail Wall Street banks from taking huge risks with people’s life savings — and then expecting taxpayer bailouts.
Elizabeth Warren and three other members of the Congressional Oversight Panel for the Troubled Asset Relief Program she chaired—including two members appointed by Congressional Republicans—have denounced this stealth bailout of AIG and asked Congress to intervene.
Indecision 2012 - I Know What You Did Last Quarter
Mitt Romney justifies making more in one day than the median American family makes in a year, while paying the same tax rate as the guy who scans his shoes at the airport. (06:57)
Many are aware of the burden that this pseudo-holiday places on low-level workers: If stores open their doors at midnight, workers have to show up much earlier than that, depriving them of sleep, and the chance to enjoy the evening of Thanksgiving with their families. Black Friday, and its recent escalation, is squeezing out one of the few annual sabbaths that the working class could once count on.
How can we resist this violent culture of materialism and selfishness? This is a hard question to answer. The problem goes far beyond individual choices, involving as it does a manufactured culture of scarcity and greed. There are forces at work that are bigger than any one of us.
But I must start with myself. I must change my own life before asking others to join with me to seek broader solutions. As I hope and pray for more systemic change, how can I be changed? To begin with - and, I confess, it is a modest beginning - I commit myself to resisting Black Friday. I will not participate in this anti-holiday.