The recent spat between the Federal Reserve and Citigroup underscores the complexity of today's banking balance sheets. The episode is a warning shot across the bows of regulators.
With today's report, private sector employment has finally regained its pre-recession peak. It has taken more than six years for private sector jobs to recover, an extremely stark reminder of the depth of the downturn and the weakness of what's been a plodding labor market recovery.
When people say hang in there, it will get better, even they don't believe it. I am a grim reminder of what might happen to them and they don't want to catch what I have.
Warren Buffett described public pension plans as a "gigantic financial tapeworm" and warned of a decade of pain. He was right on the first point, less so on the second.
For the first time since the '30s, the 99 percent stood up and pointed out the real culprits -- Wall Street and the politicians they own. People listened, they heard, and began to believe.
There was a boxer who, when faced with the likelihood of being knocked out, sold ad space on the soles of his shoes. Call it what you will, but I found that to be a move closer to brilliant than to defeatist.
Bitcoin enthusiasts today are very much recreating the digital equivalent of the California Gold Rush. The currency is the answer to all our modern day problems, they claim. I hear all that. It is still a rerun, because it is human.
I always assumed I'd belong to the same class too, the one I had identified with since birth. Now I'm not sure if I'll ever be middle class again.
Wall Street gamblers are still paid huge money and are again creeping toward reckless misbehavior. Their corporate crime wave strip-mined the economy for young workers and is draining away their ability to afford basic goods.
I went through the first 35 years of my working life having to look up how to spell 'laid off.' For real. It was just one of those brain twerks; to this day, I never type the words 'meditate' or 'environment' right the first time either. But I sure learned how to spell 'laid off.'
A million fewer people received SNAP last December than in December 2012 -- the fourth straight month in which participation fell from the previous year. This is just the latest sign that SNAP, which critics claim is out of control, has begun to shrink as the economy slowly recovers from the Great Recession.
When I first heard JCPenney's new tagline "When it Fits, You Feel it," I was reminded of why I don't "fit" JCPenney. It is the same reason why I b...
The average American continues in depression, while economic inequality soars and the rich are doing well, under President Obama and the Republicans in Congress.
The NASDAQ, DOW Jones and S&P 500 are all experiencing record highs. But does this mean that the market is oversold and we should expect declines? Not necessarily.
Guided by the mythology of the "American dream" -- the idea that, given the opportunity, the deserving will excel and rise above their peers -- politi...
While Marx was wrong about some things, his writings accurately predicted several aspects of contemporary capitalism, from the Great Recession to the iPhone 5S in your pocket.