Archive for the ‘WALL STREET’ Category

Feb
2014
28

Uncle Scam: Since 2008, At Least 22% of Fortune 500 Companies Have Had Tax-Free Years

Uncle Scam: Since 2008, At Least 22% of Fortune 500 Companies Have Had Tax-Free Years
  A recent study from Citizens for Tax Justice (CTJ) looked into the corporate taxes paid (or not paid) by Fortune 500 companies over the past five years. The results show a clear trend of tax avoidance that hinders the growth of the U.S. economy.   Looking at 288 profitable Fortune 500 companies, the study [&hellip...
Feb
2014
19

Conflict of Interest Rate: PBS Pension Program Funded by Anti-Retirement Billionaire

Conflict of Interest Rate: PBS Pension Program Funded by Anti-Retirement Billionaire
  An investigative article, “The Wolf of Sesame Street” by David Sirota, reveals that the PBS series “Pension Peril” was secretly funded by billionaire power broker John Arnold.  The revelation stirs questions about the objectivity of the PBS news department. “Pension Peril” seems to draw the same conclusions and prescriptions...
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Feb
2014
6

Fixing the Broken System of Offshore Tax Havens? Easier Said Than Done.

Fixing the Broken System of Offshore Tax Havens? Easier Said Than Done.
  In politics, the populist message of ending corporate tax havens is easy to garner support for. Actually affecting policy to end the practice? Less easy. President Obama campaigned on closing these types of loopholes but still exist, perhaps as much as ever, and companies still take great advantage of them.  It’s a cycle with [&hellip...
Jan
2014
29

S&P Report: Infrastructure Investment Looking Mighty Fine to Financial Institutions

  According to a new report by Standard and Poor’s Rating Service, pension funds, insurance companies and other financial institutions could help reduce the $500 billion annual infrastructure funding gap by the year 2030 by following through on their own investment mix goals.  Infrastructure needs continue to pile-up and private-public...
Jan
2014
15

Documents Reveal Bank of America Employs a Team of 20 Full-Time Social Media Spies

Documents Reveal Bank of America Employs a Team of 20 Full-Time Social Media Spies
  A public records request in the state of Washington shows that Bank of America employs over 20 full-time social media “trolls” in order to monitor the activities of supposed “anarchists” and “Occupy protesters.”  The documents show that the Bank of America works closely with the FBI, state and local police, and...
Jan
2014
3

Brand New Documents, Same Old Story: JPMorgan Obstructed Madoff Investigation

Brand New Documents, Same Old Story: JPMorgan Obstructed Madoff Investigation
  Documents obtained by Newsweek via the website GovernmentAttic.org show that JPMorgan Chase has for years obstructed the federal government’s investigation into the ponzi scheme perpetrated by Bernie Madoff.   Bankers getting off the hook? Romancing the system? You don’t say… A deep look into the documents reveals that the Obama...
Jan
2014
2

The Caymans. Ireland. South Dakota? Our Very Own Domestic Tax Haven Exposed.

The Caymans. Ireland. South Dakota? Our Very Own Domestic Tax Haven Exposed.
  South Dakota has become the “Bermuda of the prairie” as rich American families are renting store fronts in order to take advantage of state laws that effectively allow shielding of wealth from estate taxes…forever.  Zachary Mider’s Bloomberg piece reveals that in the past four years the amount of money administered by...
Nov
2013
20

Sirota: Corporate Giveaways, Not Public Pensions, Cause Financial Stress and Need Reforming

Sirota: Corporate Giveaways, Not Public Pensions, Cause Financial Stress and Need Reforming
  In an op-ed for USA Today, David Sirota gives credit to conservative activists, business groups, and politicians for their attempts to demonize public pensions.  But this well-coordinated attempt to sway public opinion, he writes, should not result in pensions being “reformed.”  For many state and local governments, wasteful spending...
Nov
2013
19

Meet SPN, Your Local Koch-Linked, ALEC-Fueled Cabal of Anti-Worker Wrongdoing

Meet SPN, Your Local Koch-Linked, ALEC-Fueled Cabal of Anti-Worker Wrongdoing
  The Center for Media and Democracy (CMD) has launched a new website hoping to expose those who fund the State Policy Network (SPN), a cabal of Koch-linked think tanks across the country pushing the American Legislative Exchange Council’s model legislations.  Fueled by far right dark money, SPN bills itself as “dedicated solely to...
Nov
2013
7

Citigroup-Written Dismantling of Dodd-Frank Clears House in Shocking Bipartisan Fashion

  With the passage of H.R. 992, the House of Representatives effectively decided to gut key Dodd-Frank reforms aimed at preventing Wall Street from creating another economic collapse.  In a saddening bipartisan vote, the House passed a law that was primarily written by Citigroup lobbyists, aimed at restoring a culture in which malfeasance...
Oct
2013
31

Penn State Paid Each of Its Victims $2.3 Million. JP Morgan? $5.

  Penn State University this week announced a $59.7 million settlement with 26 people who were sexually abused by former football Coach Jerry Sandusky.  This means $2.3 million for each victim.  Bloomberg Businessweek quickly noted that this number is in line with a settlement made by the Archdiocese of Los Angeles who settled with four...
Oct
2013
28

Income at Tax-Safe Irish “Subsidiaries” of US Companies Ballooning at 20 Times the Rate of Job Growth

Income at Tax-Safe Irish
  While much of the corporate tax evasion crisis has been focused on the “Dutch sandwich,” Ireland’s role in helping multinational avoid paying American taxes could lead to the term becoming known as the “Black Pudding on Soda Bread.”  Well, maybe not. But this new infographic from Bloomberg shows how Ireland’s profits have...