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Friday, April 28, 2017
Wall Street
Danziger on Preet Bharara's firing by Trump

Danziger: Where There’s Smoke, He Was Fired

White-collar crooks no doubt saluted Trump’s abrupt firing of Manhattan U.S. Attorney Preet Bharara — “sheriff of Wall Street” — with popping champagne corks, just as Danziger imagines. But Bharara can tweet, too.

March 13, 2017
Sanders not impressed by Trump's Carrier Deal

6 Reasons Why Trump Is Too Weak To Save American Jobs

It is frightening to see Trump unleash ICE on powerless immigrants, but bend over backward to placate financial elites. A bully attacks the weak and cowers before the powerful.

March 8, 2017

Justice Department Rescinds Order Phasing Out Use Of Private Prisons

The new order reverses one issued by former Deputy Attorney General Sally Yates that sought to eliminate the department’s use of private for-profit prisons, which hold slightly more than 10 percent of the current prison population. Civil rights and prisoner rights groups decried the Sessions’ decision, saying private prisons are not as cost-effective or as safe as government-run facilities.

February 24, 2017
Vegetables are seen at a farmers market in Los Angeles, California, United States May 10, 2015. REUTERS/Lucy Nicholson

The Wall Street Plowboys

The Wall Street plowboys don’t soil their own soft hands by actually farming, they’ve figured out how to “work” the land without touching it — and how to harvest a sweet profit. While Wall Street is getting rich off the backs of farmers, the workers who grow and harvest the cornucopia of fruit and veggies in the rich fields across America live in a constant crisis of poverty, malnutrition, and homelessness.

February 23, 2017
Constitutional Crisis, GOP

Why We Could Be On The Verge Of A Constitutional Apocalypse

If Republicans achieve veto-proof control in 38 states, they can do something that has never been done before—hold a constitutional convention, and then ratify new amendments that are put forth. They could outlaw the New Deal and its social democratic programs. And if they get crazy enough, they could end separation of church and state and undo other portions of the Bill of Rights.

February 22, 2017
Working-class

Heaven Help The Little Guy In This Administration

Andrew Puzder’s replacement, Alexander Acosta, hails from an immigrant background (his parents came from Cuba), and he is a former U.S. attorney. But there is no reason to expect him to have any great compassion or concern for the little guy. Trump’s white working-class supporters are in for nothing but disappointment.

February 17, 2017
Income Inequality

How Runaway Inequality Helped To Elect Trump — And How It Can Defeat Him

Declining income brings with it a host of related social problems. As localities are starved for revenues, public safety and the sense of community deteriorate. The social fabric of decent living is imperiled. Extreme inequality fueled both the Sanders and the Trump revolts. While Sanders offered concrete plans to reverse it, Trump and the Republicans are sure to make it worse.

February 15, 2017
Mnuchin billionaires

Ex-Goldman Banker Mnuchin Installed As Treasury Secretary

President Donald Trump swore in former Goldman Sachs banker and Hollywood financier, Steven Mnuchin, as Treasury secretary on Monday, putting him to work on tax reform, financial de-regulation, and economic diplomacy efforts. At a White House swearing-in ceremony, Trump said Mnuchin would be a “great champion” for U.S. citizens.

February 14, 2017
Trump

Hallelujah, President Trump Rushes To Aid The Needy!

Public opinion surveys consistently reveal that the great majority of us say that people on the lower rungs of the economic ladder — the poor and the failing middle class— are the ones Congress should focus on. But, then, regular people don’t run Congress — or Donald Trump’s White House.

February 10, 2017
Trump

While We Are Distracted By Tweets, Trump Is Building A Corporate State

The destructive toll of Donald Trump’s presidency is beginning to emerge, foreshadowing what’s likely to come as the White House and congressional Republicans begin to reverse, repeal, and replace federal laws and regulations. While Trump’s red-state supporters may be cheering now, they’ll soon feel the consequences.

February 7, 2017
Trump Slump

Trump Slump: Wall Street Opens Lower Amid Political Uncertainty

U.S. stocks opened lower on Monday as investors sought fresh catalysts after a strong jobs report last week, while uncertainty over President Donald Trump’s policies continued to weigh. Investors are wary about Trump’s focus on isolationist policies including travel restrictions to the United States.

February 6, 2017
'Populist' Trump signs order to roll back banking reform

‘Populist’ Trump Punks His Credulous Fans (Again)

The ‘populist’ president delivered a multi-billion dollar gift to Wall Street by eviscerating the Dodd-Frank financial regulations passed in the wake of the 2008 crash. One of Trump’s two executive orders instructed the Department of Labor to delay and ultimately destroy the fiduciary rule that required financial firms to offer advice only in their clients’ best interest — rather than deceptive schemes for self-enrichment.

February 3, 2017
Saudi kingdom's financial power protects terrorism

The Saudi Hypocrisy Behind Trump’s Muslim Ban

The list of Wall Street banks, private equity firms, and hedge funds with extensive fundraising operations in Saudi Arabia reads like a “Who’s Who” of American business, including major firms from Goldman Sachs and Morgan Stanley to Blackstone and BlackRock. All these corporations are unwittingly helping to fund Saudi Arabia’s expansion of extremism.
Not surprisingly, Trump is continuing this awful partnership with the Saudis. But this time, it’s for an even more self-centered reason—they help keep him rich.

January 31, 2017
Trump, Media

The Corporate Media Isn’t Coming Close To Holding Trump Accountable

Today’s corporate media bears little resemblance to our Founders’ notion of a free press – which they argued was necessary to a functioning democratic republic. Between Reagan and Trump, the media has gone from literally over 10,000 owners all across the nation to a mere dozen or so. And, public companies all, their interest is not in having an informed public, but in making the most money they can.

January 25, 2017
Business, Trump

Business Euphoria Over Trump Gives Way To Caution And Confusion

Early optimism among business lobbyists and executives that Donald Trump’s election heralded better days has slowly given way to uncertainty as the president-elect fires off mixed and sometimes confusing messages on healthcare, taxes, and trade.

January 18, 2017
Reign of Trump

Together We Can Beat Back The Reign Of Trump

It’s time for us to double down on what can be seen as the progressive community’s shared campaign for populist justice. We can beat back the brutishness the Reign of Trump promises — if we seriously unite. So, yes, buckle up. But more importantly, buck up!

January 18, 2017
Trump tweets, Twitter

Trading On Trump’s Twitter Tantrums

A new app called “Trump Trigger” from Trigger Finance Inc. offers market information and trading alerts about Trump’s tweeting behavior. The app will send a message to users whenever Trump tweets about a stock they own, with options to buy, sell or short.

January 14, 2017
Obama

Eight Years Later, ‘Yes, We Can’ Became ‘Yes, He Did’

There are many challenges ahead, but nothing like the dire mess that confronted a new young president eight years ago. That will be Obama’s legacy, the steady way he worked through it. The country is dramatically better off now than it was in January 2009, and that’s what the history books will say.

January 8, 2017
Trump's Wall Street fealty signaled by hiring three top officials from Goldman Sachs

Wall Street Won Bigly By Running Against Wall Street

Wall Street loves Trump — as you can tell by the extended orgasm the stock market has been enjoying since he won. From his massive tax breaks for the rich to Republican plans to privatize everything from Medicare to roads to schools, the bankers won bigly.

December 12, 2016
Hillary Clinton - martyr of the year

Clinton’s Wall Street Speeches Were Actually Brilliant

Why Hillary Clinton insisted on keeping her brilliant Wall Street speeches secret will remain an enduring mystery of this campaign. Heck, why didn’t she just post them on her website?

October 20, 2016

Wall Street Climbs In Wake Of First Presidential Face-off

A perceived victory by Hillary Clinton over Donald Trump in Monday’s first presidential debate pushed stocks up on Tuesday.

September 27, 2016
U.S. Senator Elizabeth Warren (D-MA) shows company documents to Wells Fargo CEO John Stumpf during his testimony before a Senate Banking Committee hearing on the firm's sales practices on Capitol Hill in Washington, U.S., September 20, 2016. REUTERS/Gary Cameron

Senators Push Wells Fargo CEO On Pay Clawbacks After Bogus Accounts

Earlier this month, the lender agreed to pay $190 million in penalties and customer payouts to settle the case involving the creation of credit, savings and other accounts without customers’ knowledge. About $5 million will directly go to customers, many of whom might have paid a small fee on the unwanted accounts

September 20, 2016
U.S. Democratic presidential candidate Hillary Clinton makes a speech during a campaign stop in Lynwood, California, United States June 6, 2016. REUTERS/Mike Blake

Wealthy Republicans Campaign For Hillary Clinton, Reject Trump

Groups of wealthy Republicans unhappy with Donald Trump have been privately courting prominent peers to join them in backing Democrat Hillary Clinton’s U.S. presidential bid, several people involved in the effort told Reuters.

August 4, 2016
Elizabeth Warren

Major Wall Street Donors Threaten To Pull Support For Clinton If Warren Is Named VP

“It’s very clear that Wall Street guys don’t like her because she has been a lot more effective than most in communicating an anti-Wall Street message that has been part of the Democratic Party for 80 years, since the 1930s,” Wall Street historian Charles Geisst told White.

June 21, 2016
A Goldman Sachs sign is seen above the floor of the New York Stock Exchange shortly after the opening bell in the Manhattan borough of New York January 24, 2014. REUTERS/Lucas Jackson

Who Says Crime Doesn’t Pay?

Goldman Sachs’ CEO, Lloyd Blankfein, just awarded himself a $23 million paycheck for his work last year. That work essentially amounted to negotiating the deal with the government that makes shareholders pay for the bankers’ wrongdoings — while he and other top executives keep their jobs and pocket millions.

May 4, 2016