Archive for the ‘WALL STREET’ Category

Oct
2013
21

REPORT: Dem Candidate for RI Gov Undermined Public Pension System to Curry Wall St. Favor

REPORT: Dem Candidate for RI Gov Undermined Public Pension System to Curry Wall St. Favor
  A new investigation conducted by Former SEC Investigator and Forbes columnist Ted Siedle uncovers the misdeeds of Rhode Island General Treasurer Gina Raimondo during her handling of the state’s Employee Retirement System.   Commissioned by AFSCME, the report, “Rhode Island Public Pension Reform: Wall Street’s License to...
Oct
2013
7

NY AG Schneiderman Dons Capitalist Cape, Will Sue Wells Fargo Over Foreclosure Settlement Abuses

NY AG Schneiderman Dons Capitalist Cape, Will Sue Wells Fargo Over Foreclosure Settlement Abuses
  New York Attorney General Eric Schneiderman is bringing forward a lawsuit against Wells Fargo which claims the nation’s largest home lender flouted the terms of its multibillion dollar settlement aimed at stopping foreclosure abuses.  The lawsuit aims to force compliance with the principles agreed upon in the settlement.  It would...
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Oct
2013
2

Buccheit: Corporate Welfare Costs the Average American Family $6,000 Annually

Buccheit: Corporate Welfare Costs the Average American Family $6,000 Annually
  A new look at corporate welfare by Paul Buchheit for Common Dreams makes the argument that our current corporate welfare state contributes to the average American family paying $6,000 a year in subsidies to big business.  The number is an average, meaning that many low-income and middle class families pay less, but it is [&hellip...
Sep
2013
30

“Outsourcing America Exposed” Makes Public the Country’s Worst Privatizers

  The Center for Media and Democracy has unveiled its new web resource, Outsourcing America Exposed, which provides an in-depth look at the dangers of privatization. Its aim is to help taxpayers stay informed about the corporations that are quietly attempting to privatize public services in their communities.   The launch of the website,...
Sep
2013
30

BoA Mortgage Crisis Trial Prosecutors: “The Promise of Quality Was Largely a Joke”

BoA Mortgage Crisis Trial Prosecutors:
  In New York, the first trial against a major bank over the mortgage practices that led up to the 2008 mortgage crisis has been brought against Bank of America. Lawyers claim BoA committed “massive fraud” when it sold loans it promised to be of investment quality to Fannie Mae and Freddie Mac.  At the [&hellip...
Sep
2013
16

Advisory Firm in Tow, Richmond Becomes First CA City to Stand Up to Big Bank Foreclosures

  For the past few years, representatives of Mortgage Resolution Partners (MRP) have been traveling through California proposing a plan to help cities that are still dealing with the effects of the foreclosure crisis to use eminent domain to get rid of underwater mortgages.  Along the way, many towns, though interested, have succumbed to the...
Jul
2013
23

Report Reveals Stunning Lack of Fiduciary Responsibility as Lobbyists Block Vital 401k Protections

Report Reveals Stunning Lack of Fiduciary Responsibility as Lobbyists Block Vital 401k Protections
  Bank regulations. We can’t seem to get enough of them in place. And the reason is pretty simple: Lobbying power. Last week, a group of 75 lobbyists hit Capitol Hill to block proposed Department of Labor (DOL) regulations that would force those in charge of 401(k)’s to put retirees best interests before profit. The [&hellip...
Jun
2013
21

Teamsters Pres: CEOs of JC Penney, Abercrombie “Earn” More Than 1,000 Times Their Avg. Worker’s Pay

Teamsters Pres: CEOs of JC Penney, Abercrombie
  Recent calculations show that the average Chief Executive Officer at a company earns 204 times more than his or her rank-and-file employees. This out-of-control sign of income disparity was touched upon in the Dodd-Frank financial reform law, which recommends that companies should be forced to provide transparency and reveal the difference...
Jun
2013
13

These 13 CEO Severances Would Total $2 Billion If They All Failed Miserably at Their Jobs at Once

These 13 CEO Severances Would Total $2 Billion If They All Failed Miserably at Their Jobs at Once
  We spotted this infographic from Bloomberg Businessweek that exposes the $100+ million severance packages that would be awarded to 13 CEOs should they fail miserably at their jobs. Talk about support for the argument that executive pay does not reflect executive performance. These days, screwing up can make you rich! There appears to be...
May
2013
22

Koch Brothers Linked to Censorship of PBS Documentary About Post-Citizens United America

Koch Brothers Linked to Censorship of PBS Documentary About Post-Citizens United America
A recent expose in the New Yorker by writer Jane Mayer reveals that two major PBS stations attempted to edit and censor an upcoming documentary titled “Citizen Koch” for fear of the billionaire brothers halting their financial support of PBS.   The collapse of the film follows the fallout of a November 2012 PBS documentary, [&hellip...
May
2013
21

iHaven: From ’09-’12, Apple Successfully Shielded “At Least $74 Billion” in Tax Dollars from U.S. Treasury

iHaven: From '09-'12, Apple Successfully Shielded
According to a Senate Permanent Subcommittee on Investigations report issued Monday, Apple has avoided paying tens of billions of dollars in U.S. taxes by shifting money to offshore tax havens.  Apple has been able to cut some of its tax rates as low as 0.05% by using a complicated web of offshore entities.   Of [&hellip...
May
2013
8

ALEC Removes Journalist from Oklahoma City Event After Distributing “Anti-ALEC Photos” Document

ALEC Removes Journalist from Oklahoma City Event After Distributing
The American Legislative Exchange Council (ALEC) recently met in Oklahoma City to talk about things progressives hate. But when attendees arrived they were greeted by something progressives love: hundreds of protesters. The “ALEC is not OK” campaign managed to roundup over 600 anti-ALEC participants for a successful action. The real...