A circle in hell has been set aside for financiers who fleece ordinary folks. This hot place has long rung with demands of death to the agency that protects working Americans from their pillage. President Trump is on the case as he tries to kill the Consumer Financial Protection Bureau by putting its enemies in charge.
Two officials with starkly different views of the job staked claims Monday to be the acting director of the Consumer Financial Protection Bureau in a dramatic showdown over the leadership of the independent watchdog that spilled into a federal courtroom.
A rich guy I know really, really dislikes Donald Trump. A member of the 1 percent, Jack (not his real name) thinks the president has sullied the country’s reputation and put democracy in danger. But I had to ask him this: “Aren’t you at least happy with the stock market?” He’s done quite well on that score, as have many investors.
In between Hurricanes Harvey and Irma, Trump took the time to plant a tweet bomb under the First Amendment. “Churches in Texas should be entitled to reimbursement from FEMA Relief Funds for helping victims of Hurricane Harvey (just like others),” he twittered.
The “IRS scandal” — the right-wing delusion that the Internal Revenue Service was disproportionately targeting conservative groups seeking tax-exempt status and slow-walking their approvals — began as a political hit job by a partisan Republican congressman. It matured into a full-fledged scandal, with President Barack Obama apologizing and the IRS commissioner resigning in disgrace.
Last school year, Ohio’s cash-strapped education department paid Capital High $1.4 million in taxpayer dollars to teach students on the verge of dropping out. But on a Thursday in May, students’ workstations in the storefront charter school run by for-profit EdisonLearning resembled place settings for a dinner party where most guests never arrived.
In the beginning there were no fixed prices. Every transaction involved a negotiation between buyer and seller. Then in 1861, as Guardian reporter Tim Adams informs us, Philadelphia retailer John Wanamaker introduced price tags, along with the slogan, “If everyone was equal before God, then everyone would be equal before price.”
During the first half of the year in state legislatures, drug companies have fought bills to reduce medicine prices; the financial industry has tried to stop legislation to end special state tax breaks; and oil and gas firms have pushed to block environmental regulations.
The pressure is growing to force President Trump to turn over his tax returns. The other day, for example, 200 Congressmen filed a suit in federal court, arguing that voters and lawmakers have a right to know whether Trump’s businesses are violating the Constitution’s emolument clause, which bars the president from accepting payments from foreign countries.
While Americans fixate on Trump, the super-rich are absconding with our wealth, and the plague of inequality continues to grow. An analysis of 2016 data found that the poorest five deciles of the world population own about $410 billion in total wealth.
A consumer watchdog agency is following up on ProPublica’s reports that the scandal-ridden bank improperly charged fees to customers from Los Angeles to Oregon. Meanwhile, the bank is conducting its own inquiry.
Shortly after the Trump administration unveiled its controversial budget proposal for 2018, Sen. Bernie Sanders (I-VT) totally dismantled the plan in a scathing op-ed.
At last, Trump has set the stage for a sequel to his first book of lies, The Art of the Deal—and in grand style. He’s found the right investor. He may have received a gold necklace from the Saudi king and looked regal;
“Mr. Secretary, I’ve often said that a budget proposal is a statement of values and priorities,” Lewis began. “This administration’s proposal makes crystal-clear that the hungry, the middle class, the elderly and the struggling will be left out and left behind.”
Longtime federal budget experts quickly slammed the White House’s proposed 2018 budget on Tuesday. Its $1.4 trillion in cuts over the next decade would endanger tens of millions of households…
A number of usually reliable reporters were duped by White House spin that President Donald Trump’s draconian budget proposal for fiscal year 2018 to slash spending for Social Security Disability Insurance (SSDI) was not a violation of his major campaign pledge to protect Social Security from cuts.
Keith Noreika helped big banks avoid state laws protecting consumers. As head of the Office of the Comptroller of the Currency, he now has the power to override those state laws.
Lots of liberals, and even some conservatives, are upset that House Republicans passed Thursday a health care bill that hadn’t been vetted by the Congressional Budget Office (CBO) for its cost or effects, such as the loss of coverage for millions of Americans, as the CBO estimated for a prior version of the legislation. The GOP was apparently ready for it’s Obamacare replacement and ready for it now—but opponents also were ready to fight back.
The tax plan Trump outlined last week has echoes of the Sunflower State’s big 2012 tax cut, which precipitated a budget crisis that persists to this day. In large part, that’s because more people than expected took advantage of the state’s generous exemption for pass-through income.
Don’t put away that protest sign or cut down on the calls to Congress just yet. The Trump administration has more fuel for the resistance fire, shocking Americans back into action just in time for three anti-Trump marches scheduled this month.
Ernst & Young will pay $11.8 million to settle charges over “failed audits” of oil services company Weatherford International.
High fees paid to hedge fund managers whose strategies underperform have together cost New York’s public pension system $3.8 billion since 2008.