The new Rich List is out -- yet another example of financial pornography. While nearly 15 million Americans still can't find jobs due to the Wall Street-created crash, the top hedge manager, David Tepper, earned $1,057,692 an HOUR in 2012.
Despite negative public sentiment and the rise of the Occupy movement, the avarice on Wall Street arrogantly continues on. The big banks are now even bigger and more powerful than they were in 2008 when they were bailed out by the U.S. taxpayers.
The only thing that can stop President Obama from cutting Social Security now is Congress. Therefore, the only thing that can stop President Obama from cutting Social Security now is public pressure on Congress to stand up to Obama and say no.
Political leaders uniformly give lip service to 'capitalism' as being the bed-rock principle on which our great nation rests. But careful examination of what our leaders have actually done, and are actually doing, when not boasting or fundraising, may lead one to different conclusions.
Breaking up these huge banks that are too big to fail, jail, or be regulated seems to be the only option on the table right now and Senator Brown, along with Senator David Vitter, is leading the effort to do just that.
There is a new report out once again reminding us of the greatest disappointment progressives have in the Obama administration: the lack of toughness in regards to Wall Street. Until the Obama administration fixes this problem, the rest of the economy is going to keep suffering.
The Standard Chartered agreement with the Department of Justice actually anticipates dismissals of its crime. It states that if Standard Chartered denies its crimes, it must issue a new statement within five days after the government orders it.
No single financial institution should be so large that its failure would cause catastrophic risk to millions of American jobs or to our nation's economic wellbeing. And no institution in America should be above the law.
A funny thing, wonderful in its own small way, happened last week. The Senate voted 99-0 in favor of an amendment to end subsidies to too-big-to-fail financial institutions. This vote is a harbinger of things to come -- if the public keeps ratcheting up pressure.