Great Recession

Why Record Numbers Of Post 50s Are Postponing Retirement

Posted 05.30.2012

Read More: Postponing Retirement, Pensions, Demographics, 401k, Retirement, Great Recession, Postponing-Retirement, Older Workers, Fifty News

Baby boomers have challenged notions of middle age -- now they’re redefining traditional retirement, too. Or should we say, postponing it entirely. ...

Read Whole Story

Credit Unions Are Easily Forgiven -- Banks, Not So Much

Credit.com | Posted 05.17.2012

Read More: Banks, Business, Forgiveness, Credit Unions, Great Recession, Credit Union, Money News
Credit.com

The Temkin Group, a business that consults on and researches customer experiences, has done a new survey of 10,000 consumers to determine which businesses customers are most and least likely to forgive.

Read Post

While JPMorgan Chase Loses Its Lunch, Some Janitors in Their Building Can Barely Pay for Theirs

Jose Suarez | Posted 05.17.2012

Read More: JPMorgan Chase, JP Morgan, Wage Theft, Great Recession, Jpmorgan Chase 2 Billion Loss, Miami Wage Theft, Jamie Dimon, Jamie Dimon JP Morgan, Miami News
Jose Suarez

While Jamie Dimon was preparing an explanation to his shareholders, the janitors that clean the financial offices owned by JPMorgan Chase in downtown Miami were wondering if they could just get paid what they are owed.

Read Post

Wall Street: An Unmitigated Culture of Risk

Ian I. Mitroff | Posted 05.16.2012

Read More: Financial Crisis, Great Recession, Wall Street Crisis, Wall Street, Politics News
Ian I. Mitroff

The main cause of the Great Financial Crisis was not merely financial. It was also cultural. The financial system needs to move from a culture of selfishness and narcissism to a culture of trust.

Read Post

Africa and the Great Recession: Changing Times

Antoinette Sayeh | Posted 05.16.2012

Read More: Mali, South Africa, Sub-Saharan Africa, Investment, Zimbabwe, Africa, Jobs, Imf, Europe, China, Emerging Markets, African Economy, Great Recession, Business News
Antoinette Sayeh

In previous global downturns, sub-Saharan Africa has usually been badly affected -- but not this time around. But in sub-Saharan Africa, growth for the region as a whole has remained reasonably strong.

Read Post

Unemployment: Why

Alan Grayson | Posted 05.16.2012

Read More: George Soros, Paul Krugman, Unemployment, Economy, US Economy, Great Recession, Unemployment Rate, US Recession, Recession, Politics News
Alan Grayson

Why is this recession different from all other recessions? There is a simple answer: the austerity fetish. The bizarre notion that cutting is healing.

Read Post

Many Foreclosure Victims Making Speedy Return To Homeownership

Reuters | Posted 05.17.2012

Read More: Video, Foreclosure Crisis, Freddie Mac, Federal Reserve Chairman Ben Bernanke, Federal Housing Agency, Great Recession, Homeownership, Reuters, Mortgage Crisis, Fannie Mae, Foreclosure, Forclosure, Housing Crisis, Business News

By Jilian Mincer NEW YORK, May 16 (Reuters) - When Jennifer Anderson's family could no longer afford their mortgage an...

Read Whole Story

Romney vs. Obama

Joe Peyronnin | Posted 05.16.2012

Read More: Great Recession, Voters, George W. Bush, President Obama, Mitt Romney, Elections 2012, U.S Economy, Americans, Republicans, ABC News, Europe, China, 2012 Election, Mitt Romney 2012, Barack Obama 2012, Politics News
Joe Peyronnin

For the next six months Americans will experience the most expensive, thanks to Citizens United, and most negative presidential campaign ever waged in this country. No doubt, many will think this is not just bad politics, this is morally wrong. But nothing will stop it.

Read Post

Romney Debt Talk Debunked

AP | TOM RAUM | Posted 05.16.2012

Read More: George Bush, Debt, Mitt-Romney-2012, Video, Social Security, Economy, Spending, Great Recession, Mitt Romney, Medicare, Barack Obama 2012, Mitt Romney Debt Inferno, Barack Obama, Ap, Politics News

WASHINGTON (AP) — When Republican presidential hopeful Mitt Romney decried the "prairie fire" of U.S. debt Tuesday, he ignored some of the sparks th...

Read Whole Story

Krugman's Macroeconomic Rants

Laurence J. Kotlikoff | Posted 05.14.2012

Read More: Unemployment, Economic Stimulus Package, Coordination Failure, Great Recession, Hiring, Paul Krugman, Stimulus, Recession, Great Depression, Politics News
Laurence J. Kotlikoff

Let's coordinate a mass rehiring of workers on a voluntary basis by asking all large and medium-sized employers to increase their employment by 5 percent.

Read Post

Wall Street's Arrogance Led To Financial Collapse, Documents Show

Bloomberg View | William D. Cohan | Posted 05.07.2012

Read More: Goldman Sachs, Video, Wall Street, Lehman Brothers, Great Recession, Mortgage Loans, Bear Stearns, Hedge Fund, Jenner & Block LLP, Lehman-Brothers, Dick Fuld, Citigroup, Business News

Bloomberg View: If one wants to understand the full complicity of Wall Street in the Great Recession, look no further than the voluminous package...

Read Whole Story

U.S. Unemployment Rate Continues to Fall as Discouraged Workers 'Disappear'

Sheldon Filger | Posted 05.04.2012

Read More: U.S. Unemployment Rates, Federal Reserve, Recession, President Obama, Bureau of Labor Statistics, April Unemployment Report, April Jobs Report, Unemployment Rate, Unemployment Statistics, Great Recession, Business News
Sheldon Filger

The real meaning of the April jobs number is that the participation of age-eligible Americans in the labor force -- both working and unemployed -- is at a 30 year low. How is that synonymous with an economic recovery?

Read Post

Paul Krugman: Our Political System Has Been Warped By A Small, Wealthy Minority

The New York Times | Paul Krugman | Posted 05.04.2012

Read More: 2008 Financial Crisis, Income Inequality, Richard Nixon, Great Recession, The New York Times, Plutocracy, Gop, Paul Krugman, Political Polarization, Norman Ornstein, N. Gregory Mankiw, Republican Party, Thomas Mann, Politics News

Before the Great Recession, I would sometimes give public lectures in which I would talk about rising inequality, making the point that the concentrat...

Read Whole Story

The Fed Isn't Helping

The Student Review | Posted 05.03.2012

Read More: Byu, U.S. Economy, Federal Reserve, Great Depression, American Economy, Brigham Young University, Great Recession, The Fed, College News
The Student Review

If the Federal Reserve Bank was established to prevent or weaken financial crises, then it is failing. The U.S. is a vastly more powerful and rich nation than it was before the Bank was established, but it's still susceptible to large fluctuations during crises.

Read Post

We Could Still Be In A Recession If Not For The Stimulus, Report Finds

The Huffington Post | Alexander Eichler | Posted 05.02.2012

Read More: Tarp, Obama Stimulus, Troubled Asset Relief Program, Mitt Romney, Stimulus, Barack Obama, Recession, Video, Economic Stimulus Package, Gdp, Bailout, Stimulus Package, Great Recession, Financial Crisis, Economic Stimulus, Economic Growth, Business News

The recovery's been weak these last few years. But if the federal government hadn't reacted to the financial crisis the way it did, things would have ...

Read Whole Story

The Missing Teachers

Jay Mandle | Posted 04.30.2012

Read More: Teachers, Public Education, Economy, Unemployment, Education Policy, Great Recession, Bureau of Labor Statistics, Education Reform, Students, Education News
Jay Mandle

The quality of public school education almost certainly was damaged. Between May 2007 and May 2011, the number of teachers in the United States decreased by 223,770 -- a decline of almost 6 percent.

Read Post

Huge Share Of Doctors Regret Going Into Medicine

The Huffington Post | Harry Bradford | Posted 04.30.2012

Read More: Medscape, Video, Student Debt, Great Recession, Dental Hygienists, Orthopedics, Radiology, Jobs, Audiologist, Careercast, Health Care, Medicine, Business News

Becoming a doctor may seem a dream job, but it turns out those already practicing don’t always agree. Only 54 percent of physicians say they’d ...

Read Whole Story

What Has Caused Record Inequality (and Greater Recessions)?

Harlan Green | Posted 04.29.2012

Read More: Epi, Lawrence Mishel, Income Inequality, Great Recession, Heidi Shierholz, Collective Bargaining Rights, Business News
Harlan Green

We can no longer tolerate such a diversion of wealth that has weakened our economic and social fabric so much that we have fallen behind the rest of the developed world in education, health care, aging infrastructure, and even environmental protection.

Read Post

Two Meltdowns: Fukushima and the US Economy

Bob Burnett | Posted 04.27.2012

Read More: US Economy, Fukushima, Fukushima Nuclear Plant, Great Recession, Recession, Fukushima Daiichi, Politics News
Bob Burnett

The United States is not facing a nuclear crisis, but we are struggling with an economic crisis. The meltdown at Fukushima helps clarify our own meltdown.

Read Post

No Jobs, No Debate: How The Press And The Candidates Ignore The Biggest Issue

Peter S. Goodman | Posted 04.25.2012

Read More: Job Market, 2018 Winter Olympics, Great Recession, Jobs, Economic Recovery, Election 2012, Campaign, Presidential Election 2012, Business News
Peter S. Goodman

Peruse the press coverage of the presidential election, where the outcome supposedly hinges on the economy, and you get the sense that President Barack Obama and Mitt Romney are huddled over a craps table waiting to see if the country is about to come up lucky sevens. If the economy shakes out right, then Obama wins a second term; if results are disappointing, he hands the keys to the White House over to Romney. But this established bit of wisdom obscures a foundational reality: In any plausible scenario, the one part of the economy most people care about -- the job market -- will remain bleak regardless of what happens between now and November.

Read Post

For Wall Street, The Great Recession Continues

The Huffington Post | D.M. Levine | Posted 04.25.2012

Read More: Layoffs, Wall Street Layoffs, Proprietary Trading, Unemployment, Financial Services, Job Cuts, Wall Street, Great Recession, Banks, Video, Business News

It seems the world of finance is still in the throes of its own great recession. One hundred of the largest cities in the U.S. have shed a total o...

Read Whole Story

Reasons for Optimism on the U.S. Economy -- We're the King of the World!

Terry Connelly | Posted 04.24.2012

Read More: 2012 Elections, Gdp, France, Great Recession, Economic Crisis, Spain, Italy, Europe, Euro, Business News
Terry Connelly

In short, we have a chance to have an "American decade" economically. All we are missing is a little optimism -- well, OK, a lot of optimism, and lot more skepticism about the folks peddling pessimism as if it were the new true religion.

Read Post

Krugman: Chairman Bernanke Should Listen To Professor Bernanke

New York Times | Posted 04.24.2012

Read More: Bernanke Federal Reserve, Bernanke Recession, Fed, Great Recession, Bernanke, Krugman, Federal Reserve, Paul Krugman, Ben Bernanke, The Fed, Business News

When the financial crisis struck in 2008, many economists took comfort in at least one aspect of the situation: the best possible person, Ben Bernanke...

Read Whole Story

Paul Krugman: Job Loss Under Bush Much Worse Than Under Obama

The Huffington Post | Alexander Eichler | Posted 04.23.2012

Read More: Layoffs, Job Losses, U.S. Economy, Video, Job Loss, Unemployment, Income Inequality, Great Recession, George W. Bush, Bureau of Labor Statistics, Paul Krugman, Barack Obama, Business News

As much as the job market has suffered under President Obama, his record up to this point is still better than that of his predecessor. That's the...

Read Whole Story

It's Time to Reexamine the Welfare Reform Law of 1996

Ed Koch | Posted 04.19.2012

Read More: Welfare, Clinton Welfare, Nixon Welfare, Welfare Reform, Welfare Great Recession, Welfare Coverage, Welfare Law, Great Recession, Welfare Policy, New York News
Ed Koch

Responsible people shocked by the fraud and outrages that marred the old system of welfare went overboard -- me among them -- in seeking to eliminate the abuses. It is time we examine the subject again and seek a just solution.

Read Post