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Financial Collapse

Will the Recovery Finally Translate into Better Wages?

Robert Kuttner | Posted 04.10.2015 | Politics
Robert Kuttner

The good news about the economy's improved job creation dominated the weekend's headlines. Many commentators concluded that the economy is finally shaking off the effects of the financial collapse of 2008 and the long period of stagnation that followed. But the one-year increase in wages has been only 2.2 percent, barely more than 1 percent when adjusted for inflation, and it's been a long time since most workers have seen substantial raises. In this recovery, the economy has been creating more low-wage jobs than high-wage ones. The shift from standard payroll jobs to temp and contract work continues. The uptick in the measured unemployment rate suggests that discouraged workers are only just coming back into the labor force and we are a long way from full employment. Even at the present rate of improved job creation, it will be 2017 before we get back to the pre-recession level of unemployment.

America's Oldest Black College Could Face Financial Collapse

Reuters | David DeKok | Posted 12.18.2014 | Black Voices

HARRISBURG, Penn., Dec 17 (Reuters) - The nation's oldest black college, Cheyney University, one of Pennsylvania's 14 state-run universities, is on th...

Goldman Paid Him How Much For Not Working?

Reuters | Posted 09.26.2013 | Business

By Nate Raymond NEW YORK, July 26 (Reuters) - A lawsuit by the U.S. Securities and Exchange Commission may have destroyed his career,...

Yes, George W. Bush Was A Terrible President

New York | Posted 06.25.2013 | Politics

More than three years still remained in George W. Bush's presidency when it had already collapsed by the end of 2005. The Bush revisionism industry ha...

Eleazar David Melendez

Financial Crisis Cost Is Staggering, Government Report Finds

HuffingtonPost.com | Eleazar David Melendez | Posted 02.14.2013 | Business

The 2008 financial crisis cost the U.S. economy more than $22 trillion, a study by the Government Accountability Office published Thursday said. The f...

Every American Needs to Watch The Warning on Netflix if They Want the Truth about the Financial Collapse

Lloyd Chapman | Posted 01.15.2013 | Politics
Lloyd Chapman

You have to see this film. It tells about how Brooksley Born, the chair of the Commodity Futures Trading Commission (CFTC) during the Clinton administration, saw, very clearly, the impending disaster on Wall Street and in the financial markets.

Are We Blaming Consumers for Their Own Misfortune?

Chris Abraham | Posted 10.29.2012 | Business
Chris Abraham

Will we continue to over-hunt, over-fish our customers, consumers, and our market -- our prey -- until they're either extinct or just too savvy to fall for our seductive calls? What is our responsibility to the health, happiness, and success of those who we fleece for money?

Mitt Romney and the Wealth Answer

Mark Cassello | Posted 06.20.2012 | Politics
Mark Cassello

It is not Romney's wealth that makes him unable to relate. It is his incapacity to acknowledge the privileged position from which he began.

Ex-Banker Writes 'Cautionary Tale' Based On The Hobbit

Reuters | Posted 06.20.2012 | Business

By Lou Carlozo CHICAGO, April 20 (Reuters) - Since T.S. Eliot's brief career at Lloyds Bank of London, the connections between banking...

Janell Ross

In Detroit, Democracy Takes Back Seat To Financial Rescue

HuffingtonPost.com | Janell Ross | Posted 04.09.2012 | Business

With Detroit in apparent free fall, city officials voted this week to install a nine-member financial control board with the authority to approve the ...

Michael Lewis: It's A Bad Idea To Give Millions To 24 Year-Olds Who Don't 'Know Anything Really'

Posted 03.01.2012 | Business

When the history books make their judgments about pre-crisis Wall Street, they'll come down hard on those salaries for twenty-somethings -- at least a...

Sacrilege: Wall Street Worship

Leo W. Gerard | Posted 12.31.2011 | Politics
Leo W. Gerard

Americans have been worshiping a bull. Too many citizens, and particularly politicians, prostrate themselves to Wall Street's bronze idol.

Heidi's Bar: A Metaphorical Tale Worth Sharing

Kenneth F. Bunting | Posted 12.05.2011 | Business
Kenneth F. Bunting

I do not know who wrote the contemporary fable about "Heidi's Bar," being spread through email blasts and Facebook postings. It wasn't me. I am neit...

Another Systemic Dislocation:The International Banking System Again on the Brink

Asher Edelman | Posted 11.27.2011 | Business
Asher Edelman

Since January it has become more and more apparent that the commodities exchanges, commodities brokers and banks are running "short" or even running "out" of physical gold for delivery.

Countrywide Covered Up Massive Fraud, Former Employees Say

iWatch News | Posted 11.22.2011 | Business

In the summer of 2007, a team of corporate investigators sifted through mounds of paper pulled from shred bins at Countrywide Financial Corp. mortgage...

FDIC Considers Revoking Pay From Executives Responsible For A Failed Financial Company

Bloomberg News | Meera Louis | Posted 05.25.2011 | Business

March 15 (Bloomberg) -- The Federal Deposit Insurance Corp. is seeking comment on a measure that may subject executives and directors to clawbacks of ...

A Full Employment Act for the 21st Century

Brian Czech | Posted 05.25.2011 | Politics
Brian Czech

We need a steady state revolution to move from the old, unsustainable goal of economic growth to the new, sustainable goal of a steady state economy.

Notes of an Ex-Pat 1: View From the Bridge

W. Hunter Roberts | Posted 11.17.2011 | Healthy Living
W. Hunter Roberts

From my window I see sheets of ice floating down the Danube. It's mid-winter, and I am finally here in Budapest. Last week I went with a Hungarian law...

Jason Linkins

2010: The Year In Wall Street Whining To Politico About Their Hurt Feelings, Mostly Anonymously

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011 | Media

You know, the other day, when I remarked that Politico's story "another piece in a continuing series" of "Wall Street people whining," I wasn't kidding. A whole lot of times, actually.

Jason Linkins

Wall Street Execs Whine To Politico About Their Hurt Feelings

HuffingtonPost.com | Jason Linkins | Posted 05.25.2011 | Media

Wall Street is sad, and its recent record-setting profits are no comfort. Should I begin by assuaging their fears? If we define "pro-business" as "a policy that would allow investments to be made in an actual physical business, spurring economic growth and jobs development," and not "policies that allow Wall Street to return to a regime of creating non-productive casino games based upon the amount of moneydust that can be leveraged from rubbing two ten-dollar bills together to create an ornate daisy-chain of swaps," then we are never going to issue a discouraging word!

Joseph Stiglitz on Gordon Brown

Robert Teitelman | Posted 05.25.2011 | Business
Robert Teitelman

We may never know for certain whether former Prime Minister Gordon Brown was the great and magnanimous hero of Stiglitz's telling or a figure brought low by forces he failed to foresee.

You Say You Want a Constitution?

Silja Bára Ómarsdóttir | Posted 05.25.2011 | World
Silja Bára Ómarsdóttir

The Beatles' song "Revolution" has been in my mind all day. That's because this morning I woke up as a newly elected representative to the country's new constitutional assembly.

The Problem Is Not Jon Stewart

David Paul | Posted 05.25.2011 | Politics
David Paul

Those who suggest that Jon Stewart crossed a line should open their eyes and behold the new world. No one questions whether Glenn Beck is in the business of entertainment. Or politics. Or news.

Krugman's Takedown of Ryan Demonstrates How Conservatives Are at War With the Middle Class

Mitchell Bard | Posted 05.25.2011 | Politics
Mitchell Bard

Beginning with the Reagan administration, and reaching its fullest realization under George W. Bush, conservatives have systematically been acting to redistribute wealth from the middle class upward.

Reagan Was Wrong: The Nine Most Terrifying Words Are, "I'm a Libertarian and the Market Will Save You"

Mitchell Bard | Posted 05.25.2011 | Politics
Mitchell Bard

I don't agree with Reagan. I'm not scared of the government trying to help. But I am terrified of an unfettered free market.