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By Marcel Proust
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By Gore Vidal
$11.95
$35
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Flickr / MnGyver
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Think you have the dirt on inequality in America? Jeffrey Rudolph, a college accounting professor in Montreal, has crafted an extensive quiz stocked full of hard facts and figures from a range of authoritative sources that cuts through the myth and lies thrown up by America’s leading misinformers. (more)
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Flickr / Tracy O (CC-BY-SA)
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Big banking execs on Wall Street might have noticed a slight pinch in their cash bonuses last year, but that doesn’t mean those clever business minds didn’t find a way to make up for it through other financial channels.
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Despite drawing the wrong kind of attention to themselves over the last two-plus years with news of murky dealings in “structured products” and concern over the bank’s role in the subprime mortgage crisis, execs at Goldman Sachs apparently ...
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Flickr / kevindooley (CC-BY)
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An international panel of banking regulators from 27 nations is aiming to crack down on outlandish pay packages for industry executives by proposing a new set of rules that call for more transparency and, wonder of wonders, some correlation between ...
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White House / Pete Souza
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Bill Clinton and now big business—all in a week’s work for President Obama in his ambitious push to improve relations with parties with whom he’d at least appeared to be at odds since he took office.
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AP / Alik Keplicz
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Poland’s presidential election is finally under way following the death of the country’s last president, Lech Kaczynski, in a plane crash two months ago. Acting President Bronislaw Komorowski was the favorite going in, expected to defeat the late president’s twin brother, Jaroslaw Kaczynski.
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Step right up and you’ll see spectacles that will amaze from Tuesday’s face-off between senators and Goldman Sachs boss men, such as the awesome Fabrice Tourre denying “categorically” that he misled clients by selling them mysterious bundled financial entities tied to doomed mortgages.
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journalperu.com
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While serving time in a Peruvian clink, Ex-President Alberto Fujimori found time in his schedule to be convicted of corruption. The sentence handed down in his fourth and final trial on charges of illegal activity in office calls for extending his jail stay by six years.
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sv.wikipedia.org
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Former Israeli Prime Minister Ehud Olmert is being tried on charges of corruption that allegedly occurred while he was Jerusalem’s mayor and later a Cabinet member. Olmert maintains his innocence, claiming a three-year smear campaign forced him to resign as prime minister a year ago.
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AP / Mark Lennihan
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By Robert Scheer — By now everybody must know that the top banking executives responsible for our economic meltdown have no shame. Otherwise they would not have dared give themselves such hefty bonuses as a deeply perverse reward for actions that caused millions of Americans to lose their jobs and homes.
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ceoworld.biz
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It’s baffling how $33 million can seem like a relatively small sum lately, but given that it’s all that Bank of America will have to pay the SEC for failing to inform investors about the billions in bonuses the bank paid Merrill Lynch executives during B of A’s acquisition of Merrill last year, it seems more like a light knuckle-rap than a full-on spanking.
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White House / Pete Souza
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Although Timothy Geithner is under fire from several directions, especially because he failed to stop the AIG executive bonus train from arriving at its destination, President Obama continues to actively support him. In fact, Obama says he wouldn’t let Geithner quit even if the treasury secretary tried to do so at this point.
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visitbulgaria.info
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Having succeeded in dispensing tens of millions of dollars to company executives last week as the country—and Congress—cried foul, the insurance titan is now suing the government to reclaim millions in taxes. Apparently AIG officials believe they paid the IRS too much and now are demanding a huge tax rebate.
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AP photo / Evan Vucci
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After the top brass at AIG couldn’t be stopped from dishing out $165 million in bonuses to executives who didn’t exactly deserve gold-star treatment, Congress is attempting to recoup most of the money by slapping a 90 percent tax on such executive windfalls.
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listphile.com
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The tug of war continues between corporate financial giants and the federal government, and certain members of the former seem to have some trouble adjusting to their post-bailout status. AIG, for example, is still planning to reward its top 400 executives with a whopping $165 million in bonuses this weekend, even after the company was given more than $170 billion from taxpayers to stay afloat. Updated
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entertainoz.com.au
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What’s a bunch of Wells Fargo bigwigs to do now that their struggling bank has gotten a whopping $25 billion from the federal government? Two words: Vegas, baby. Update
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thecrimson.com
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New York Attorney General Andrew Cuomo sent out subpoenas to Bank of America’s Chief Administrative Officer J. Steele Alphin and recently ousted Merrill Lynch Chief Executive John Thain on Tuesday to look into hefty bonuses paid to Merrill Lynch higher-ups late last year—even as the company was bleeding billions in losses.
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listphile.com
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It would seem imprudent, given the government’s recent and unprecedented bailout of companies such as insurance giant AIG, for the likes of AIG to even entertain the idea of hefty executive payouts.
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World Economic Forum / Remy Steinegger
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On Monday, the House Oversight and Reform Committee took a look into the collapse of Lehman Brothers as part of a larger review of the factors leading to the current economic crisis, and it wasn’t a pretty sight. Judging by the committee’s account, leaders at Lehman Bros. disregarded key warnings of impending trouble and cut hefty checks for their fellow executives even as the firm teetered on the brink of disaster.
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evilbeetgossipfilm.com
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After weeks of striking, the Writers Guild of America has struck a deal with Hollywood honchos, ending the protracted impasse between scribes and studios and allowing the stalled wheels of the entertainment industry to creak back into motion on Wednesday.
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There’s one big built-in advantage that many striking WGA members have over the studio honchos they’re feuding with: real creative talent. This clip, made by “Colbert Report” writers, showcases their flair for parody, reminding producers why they’re indispensable while mercilessly lampooning the executives.
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Wouldn’t it have been chillingly fascinating to watch White House bigwigs in action sometime around 2003, while they played fast and loose with executive power and international law?
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James Rogers may head the power industry’s main trade association, but he disagrees with the group’s opposition to emissions caps. The forward-thinking CEO wants energy providers and the Bush administration to accept the reality of global warming and embrace the future: “The science says we need to act.”
Posted on Oct 22, 2006
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A first in the state’s history, the executive order halted road construction and lottery ticket sales, and put over half the state’s 80,000 employees on furlough. Gov. Jon S. Corzine ordered the shutdown after legislators missed a June 30 budget deadline due to disagreements over a measure to raise the sales tax to close a budget gap. Depending on a court ruling, the state’s 12 casinos may also have to shut their doors.
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Finally, after months of hanging in the pink slip rumor mill, John Snow can move on. The White House has named Henry M. Paulson as the newest Treasury secretary; here’s what we know according to the Washington Post and NYT:
He was reluctant to accept the job.
He worked in the Pentagon as a young man.
He “has been a Goldman Sachs executive since 1974, pulling down a compensation package in 2005 of $37 million.”
He is “a birdwatcher who can often be found in Central Park with his binoculars.”
Thank you mainstream media for your thorough profile of this very important man.
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From MSNBC
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It’s David Addington, Dick Cheney’s new chief of staff, who has been instrumental in fashioning legal arguments to support presidential-sanctioned torture, the attempt to discredit Joe Wilson, and the bogus Niger uranium story. U.S. News has the goods in this fantastic profile.
Sickened by those “signing statements” that Bush uses to essentially ignore the laws Congress has passed? Addington has his fingerprints all over those.
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By Molly Ivins — Can impeachment heal the malady of executive privilege and wiretapping? It has before.
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Greenland’s Great Melt Is Pinned On Climate Change
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