Archive for the ‘WALL STREET’ Category

Jan
2013
11

$8.5 Billion Foreclosure Settlement May Be Too Small to Aid the More than 3 Million Mistreated Homeowners

A settlement brokered by the Office of the Comptroller of the Currency and the Federal Reserve requires 10 banks to pay $8.5 billion to compensate homeowners who had their homes wrongly foreclosed upon in 2009 and 2010. $3.3 billion will be used to make direct payment to eligible borrowers with the other $5.2 billion being [&hellip...
Jan
2013
8

Attorneys General in NY, CA, ID, ME, MT Take Aim at Campaign Finance Disclosure (Since the Federal Government Won’t)

With federal regulators refusing to take notice and the DISCLOSE Act stalled in Congress, the honus is on state Attorneys General to take up the fight to force the tax-exempt groups that spent hundreds of millions in the 2012 election to disclose their donors. Campaign finance reform has been anathema to the federal government, ostensibly [&hellip...
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Jan
2013
7

Corporate Lobby-Driven “Active Financing Tax Exception” to Cost Taxpayers $11 Billion Over Two Years

For the past fifteen years, Americans have been losing big dollars to lobbyists who have forced the extension of tax policies that allege to defend against double taxation. Opponents of such credits argue that they are nothing but tax shelters for Ethanol producers, NASCAR racetracks and the like. Among the techniques used is “active...
Dec
2012
19

Awesome Anti-ALEC Cartoon Featuring a Very Average East Coast Accent

Awesome Anti-ALEC Cartoon Featuring a Very Average East Coast Accent
I hadn’t seen this anti-ALEC cartoon until this morning. It’s quite good in terms of explaining the treachery that is the American Legislative Exchange Council (notice the cartoon dollar bill’s suspicious pause when calling the organization a “charity”) and at providing a touch of comedy on an otherwise dark, dark...
Dec
2012
11

Google Stashing $9.8Billion in Bermuda Tax Haven Resulting in $2B of Lost U.S. Tax Revenue

Google Stashing $9.8Billion in Bermuda Tax Haven Resulting in $2B of Lost U.S. Tax Revenue
Tech giant Google has seen the revenues it stashes in the tax haven of Bermuda soar to nearly $10 billion according to a revelatory piece yesterday by Bloomberg’s Jesse Drucker. By shifting tax revenues to a shell company based in a Bermuda law office, the company has avoided paying roughly $2 billion in taxes, Drucker [&hellip...
Dec
2012
5

IT’S THE ATROCITY, STUPID: At 43.5% of GDP, Wages Hit Their Lowest in the History of the U.S.

IT’S THE ATROCITY, STUPID: At 43.5% of GDP, Wages Hit Their Lowest in the History of the U.S.
Third quarter numbers show that U.S. corporate profits have hit a record high while workers’ wages are now at their lowest share of GDP (again). Why again? See, corporate profits are like Batman movie ticket sales. Every time the new numbers come out they’re bigger than the last ones. Just four years after the great [&hellip...
Nov
2012
1

Eat Your Spinach or: How I Learned to Stop Worrying and Vote for Romney

Eat Your Spinach or: How I Learned to Stop Worrying and Vote for Romney
Imagine getting a letter from your boss telling you that you could personally face dire consequences if a certain political candidate were elected President. Would your behavior be affected? If a co-worker lived in your neighborhood, would you take down their yard sign supporting the guy who might allegedly threaten your well-being? Would you stop...
Oct
2012
9

BCTD Prez: “Our productivity and workmanship allow us to achieve ‘on time and on budget’ results, while also providing family-sustaining wages that benefit the workers and their communities.”

BCTD Prez:
It’s rare that the Wall Street Journal puts the pro-labor perspective in plain view in their pages, so we figure “hey, why not give them some extra shine for it” when they do. Below find an op-ed from Building and Construction Trades Department (AFL-CIO) President Sean McGarvey titled “Construction Trades do Add...
Oct
2012
1

“The United States of ALEC” Aims to Uncover Underhanded Corporate-Funded Legislation

This weekend, Bill Moyers premiered his new documentary, The United States of ALEC, on progressive news network Democracy Now. In the film, the veteran journalist aims to inform Americans about the overwhelming overreach that the corporate fronted American Legislative Exchange Council (ALEC) engages in while ghostwriting laws in dozens of states....
Oct
2012
1

CHART: Labor Income in Steady Decline

CHART: Labor Income in Steady Decline
Last Wednesday’s Reuters Chart of the Day was from Margaret Jacobsen and Filippo Occhino of the Cleveland Fed. It commented on labor’s declining share of income and rising inequality. According to the commentary: Household income comes in two types: labor income, which includes wages, salaries, and other work-related compensation (such...
Sep
2012
28

ALEC Jr. — “NFIB uses the name of small business to advance an agenda that helps big corporate interests.”

ALEC Jr. --
The National Federation of Independent Business (NFIB) is becoming a major player in the dark money funding of the 2012 election. Despite its name, the group is a front for a big business, partisan agenda according to a new website, NFIB Exposed. The group, which is the lead plaintiff in the lawsuit against the Affordable [&hellip...
Sep
2012
27

Researchers: System for Determining CEO Pay Is Ineffective, Artificially Drives Up Salaries

Researchers: System for Determining CEO Pay Is Ineffective, Artificially Drives Up Salaries
There is a theory in corporate America that CEOs must be paid top dollar for their skills in order to keep them from constantly shopping their skills to the highest bidder. But a new study by Craig K. Ferrere and Charles M. Elson, director of the John L. Weinberg Center for Corporate Governance at the [&hellip...