The public demurs from facing reality and accepting measures that might fix the problems, based on a misplaced--and manipulated--appreciation of self-reliance and freedom, O'Kane explains and illustrates.
Doug Hughes, a mailman from Florida who recently made headline news for flying his gyrocopter onto the West Lawn at the U.S. Capitol Building has been charged with operating an unregistered aircraft and violating national airspace, which can potentially land him up to four years in prison, plus fines. I had the chance to interview him about his cause of getting money out of politics.
Payday loans and other abusive high-interest loans targeting the working poor are one of the scourges of our financial system. And the technology of big data made it easy to both find new victims and largely hide the identities of the payday lenders.
The effort to repeal Orderly Liquidation Authority would be such a gift to the biggest Wall Street banks. Without that authority, Wall Street would be assured that no matter how big the risks they take, the American taxpayer could be forced to bail them out.
Wall Street and its allies are once again pretending to care about community banks while trying to roll back financial reform to help, you guessed it, Wall Street. But, don't be fooled by industry's spin on this so-called "study."
The economic recovery has not benefited Americans equally. We all know that. But few facts underscore that point more clearly than the startling number of consumers whose financial futures have been put on hold by subprime credit scores.
Changing the way one applies for a loan doesn't simply mean stating for 28 pages that a borrower will not be discriminated against, or that we should depend solely on federal and state regulations to curb financial intuitions' racist lending practices.
[Banks] want to be able to do things their way, and that's very dangerous," MIT economist Simon Johnson tells me. "'Here we go again' -- I think that's the motto for this Congress."
The pope's visit to America in September 2015 will have a dramatic impact on the public discourse and issue debates of the presidential and congressional campaigns that will formally begin in January 2016, to the advantage of liberals.
Being financially independent and successful does not mean that you have to sacrifice having a family, traveling or other goals. The key is to make sure that you shift your values accordingly to what you want to accomplish during certain periods in your life.
Two weeks before Charles Schumer once again delivered for Wall Street with the omnibus budget deal, he gave a major speech in which he sounded like a progressive champion. He embodies the contradictions that will tear the Democratic Party apart over the next two years.
It's good for the rich, the powerful, and D.C.'s luxury car rental companies. But the Cromnibus is bad for America, and President Obama needs to step up with his veto pen and do the right thing.
Republicans have already signaled that one of their first priorities will be to repeal or cripple regulations that are supposed to keep our economy stable, protect Americans' money and jobs, and prevent Wall Street consumer fraud and abuse.
The long-term deterioration of the middle class, accelerated by the Wall Street crash of 2008, has not been pretty. Today, we have more wealth and income inequality than any major country on earth.
No one should be surprised that the American people are economically insecure and anxious. Seven in 10 voters said the nation's economy is in bad shape. Voters who said the economy was important to them voted 2 to 1 for Republicans.
Mortgage subsidies through federal agencies are the modern-day version of the Homestead Act. But unlike the land grants of the 19th century, government loan subsidies have proven to be a rather bad idea.