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Tag: Greed

Benedict XVI
highvolumemedia.com

Pope Says Capitalism Is Failing

In the spirit of the poignant critiques of capitalism made popular by Pope John Paul II, Pope Benedict XVI has written a scathing letter just in time for the capitalist G-8 economic summit in Italy that demands we find a “profoundly new way of understanding business enterprise.”

Posted on Jul 8, 2009 READ MORE



AP photo / Amy Sancetta

The Crooks Get Cash While the Poor Get Screwed

If you have defrauded banks and customers and investment firms of billions of dollars, as AIG or Citibank has, you get taxpayer money. If you are moral scum in America we take care of you. But if you are poor, if you are, say, Tearyan Brown of Trenton, N.J., you are in trouble.

Posted on Jul 6, 2009 READ MORE



White House / Pete Souza

Obama’s Financial Plan Fails to Impress

President Obama compares his “sweeping overhaul of the financial regulatory system” to FDR’s crackdown on Wall Street, but New York Times business columnist Joe Nocera isn’t buying it. “Everywhere you look in the plan, you see the same thing,” he writes. “Additional regulation on the margin, but nothing that amounts to a true overhaul.”

Posted on Jun 18, 2009 READ MORE



AP photo / Charles Dharapak

Obama’s Economic Misfits Finally Get It

On Monday, two men with considerable responsibility for enabling the banking meltdown confronted the error of their ways. Hopefully Timothy Geithner and Lawrence Summers’ sudden conversion to common sense indicates the seriousness of the banking regulation plan that their boss, President Obama, will present to Congress today.

Posted on Jun 17, 2009 READ MORE


Obama and the Politics of Short Memories

Business has been on the ropes since last fall’s financial collapse, but the first glimmerings of recovery are calling forth a capitalist counteroffensive.

Posted on Jun 14, 2009 READ MORE


Bill Maher Is Hoping for a Little More Audacity

The “Real Time” host has some harsh words for the president, who, he says, is caving to insurance companies, banks and polluters: “This is not getting the job done. And this is not what I voted for.”

Posted on Jun 13, 2009 READ MORE



AP photo / Pablo Martinez Monsivais

Outrage—and Business as Usual

The public face of Congress is angry and outraged at all the bad behavior by banks, but in the other Washington, the financial industry continues to have its way.

Posted on Jun 8, 2009 READ MORE


Bill Maher: America Is Greedy, Not Good

The “Real Time” host takes exception to American exceptionalism, the idea that Americans are unique and superior despite a penchant for poisoning, imprisoning and killing each other just to make a buck.

Posted on May 31, 2009 READ MORE



AP photo / Dima Gavrysh

Breadline USA

Sasha Abramsky discusses his new solution-oriented book about the millions of Americans who work 40 hours a week and still go hungry, “these forgotten communities and these forgotten families who are doing everything they’ve been told they need to do to survive and ... they’re still being pushed backward by economic forces that they really don’t control.”

Posted on May 29, 2009 READ MORE



AP photo / Dima Gavrysh

Breadline USA

Sasha Abramsky discusses his new solution-oriented book about the millions of Americans who work 40 hours a week and still go hungry, “these forgotten families who are doing everything they’ve been told they need to do to survive and ... they’re still being pushed backward by economic forces that they really don’t control.”

Posted on May 29, 2009 READ MORE


I’m Afraid I Have Some Bad News…

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Posted on Apr 27, 2009 READ MORE    


One Man’s Pirate

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Posted on Apr 20, 2009 READ MORE    


Armey’s Tea Party Army

At the apex of the tea party movement is FreedomWorks, headed by former Rep. Dick Armey. His past career should be instructive to any starry-eyed citizens who believe that they have at last found the true right-wing revolutionary path.

Posted on Apr 16, 2009 READ MORE



Flickr / stan

You Can’t Teach an Old Predatory Lender New Tricks

Like an abused spouse, America continues to stand by the banks, hoping they’ll change their ways. TARP funds were supposed to trickle down to the average taxpayer, but Congress is now investigating complaints that bailed-out banks such as Bank of America and Citigroup are jacking up interest rates and engaging in predatory lending.

Posted on Apr 13, 2009 READ MORE


The Best Investment Money Can Buy

In the last decade, the financial industry’s $5 billion investment in campaign contributions and lobbyists resulted in deregulation and boatloads of free money. By Bloomberg News’ account, $12.8 trillion worth of taxpayer loans, grants and guarantees—all to Wall Street.

Posted on Apr 10, 2009 READ MORE


Protesters Confront Summers

Two protesters storm the stage during a talk by Lawrence Summers, who tries to laugh off the incident. If only there were something funny about President Obama’s top economic adviser making $8 million last year from some of the financial firms that have benefited from his economic policies.

Posted on Apr 9, 2009 READ MORE



Detail from Creation of the Sun and Moon by Michelangelo

God Is Not a Fan of the Banking Industry

Do a quick Google search and you’ll find that God, as worshipped by Jews, Christians and Muslims, has some strong feelings about interest charges—or usury, as it’s known in the Hebrew Bible. Here’s a doozy from Ezekiel: “Hath given forth upon usury, and hath taken increase: shall he then live? he shall not live: he hath done all these abominations; he shall surely die; his blood shall be upon him.” Ouch.

Posted on Apr 7, 2009 READ MORE



Flickr / World Economic Forum

Wall Street Showered Obama’s Top Economic Adviser With Riches

Lawrence Summers is the man President Obama turns to for insight into the economy, so it’s more than a little disturbing that the very financial institutions the taxpayers are now rescuing—to the tune of nearly $3 trillion—paid Summers almost $8 million last year. Goldman Sachs & Co., a major beneficiary of the government’s largesse, paid him $135,000 for one speech.

Posted on Apr 6, 2009 READ MORE


Close These Refuges for Scoundrels

The story of former AIG executive Joseph Cassano points up once more how tax and regulatory havens across the world encourage nefarious conduct, lack of transparency, evasion of taxes and corporate criminality.

Posted on Apr 2, 2009 READ MORE


Art Imitates Life

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Posted on Mar 26, 2009 READ MORE


Our Justified Populist Rage

We are at the beginning of a great popular rebellion against those who showed no self-restraint when it came to lining their own pockets.

Posted on Mar 19, 2009 READ MORE


Tarred and Feathered

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Posted on Mar 16, 2009 READ MORE    


Obama
AP photo / Ron Edmonds

Obama Aiming to Block AIG Bonuses

AIG’s dishing out $165 million in bonuses to executives who played a part in bringing their company to near ruin is an “outrage,” according to President Barack Obama, who pledged to do whatever he can to stop the payouts at the bailed-out insurance giant. Updated

Posted on Mar 16, 2009 READ MORE



Rembrandt Harmensz. van Rijn

The False Idol of Unfettered Capitalism

The Ten Commandments were for the ancients, and are for us, the core rules that, when honored, hold us together, and when dishonored lead to alienation, discord and violence. The worship of the free market has turned out to be an idol, and like all idols it has now demanded its human sacrifice.

Posted on Mar 16, 2009 READ MORE


The Point of Pointing Fingers

Obama speaks disdainfully of “ideology,” but there comes a time when first principles need to be articulated. Conservatives have entered this fight with guns blazing while progressives have hidden behind a Maginot Line armed only with the word pragmatism.

Posted on Mar 11, 2009 READ MORE


Jailing Kids for Cash

As many as 5,000 children in Pennsylvania have been found guilty, and up to 2,000 of them jailed, by two corrupt judges who received kickbacks from the builders and owners of private prison facilities that benefited.

Posted on Feb 17, 2009 READ MORE


Scream 2009

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Posted on Feb 8, 2009 READ MORE


Dear Wall Street

The reason you are such a big story is that you’ve stolen our money. Or at least that’s how most of the country sees it. You think those auto executives looked bad when they flew into Washington on their private jets? Just you wait.

Posted on Feb 4, 2009 READ MORE


Marie Antoinette
Lie Louis Périn-Salbreux

Who Knew Bankers Were This Stupid?

Earth to Wall Street: It’s over, people. You had a terrific run, better than you deserved, but now you’d be wise to pay attention to those citizens outside, the ones with the pitchforks and the torches.

Posted on Feb 2, 2009 READ MORE


pigs
Flickr / treehouse1977

Bankers Took Home Billions While Wall Street Burned

If you’re in a good mood, you may just want to skip this bit of news from The New York Times: “Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial companies in New York ... collected an estimated $18.4 billion in bonuses for the year.” Update

Posted on Jan 29, 2009 READ MORE



Wikimedia Commons

Congress Sings the Bailout Blues

Want to know where the $350 billion banking bailout went and why it hasn’t done a bit of good? Read, and weep over, this little-noticed report from the congressional panel set up to monitor the Treasury Department’s distribution of our taxpayer funds.

Posted on Jan 18, 2009 READ MORE


Fool Me Once

Somehow, immediately releasing more bailout funds is being portrayed as a self-evident necessity. Amid Barack Obama’s paeans to “new politics,” we’re watching old-school paybacks from a politician who raised more Wall Street dough than any other.

Posted on Jan 15, 2009 READ MORE


Obama appointees
AP photo / Gerald Herbert

Tough Road Ahead for New Economic Appointees

On Thursday, President-elect Barack Obama introduced three top financial appointees who will help him with the unenviable task of revamping the government’s economic regulatory system and “crack[ing] down on this culture of greed and scheming that has led us to this day of reckoning,” as Obama put it.

Posted on Dec 18, 2008 READ MORE



starwoodhotels.com

AIG Execs Enjoy Sun and Fun on Your Dime

What’s $85 billion if you don’t get to spend it? Just days after taxpayers saved AIG from ruin, executives of the insurance giant spent $440,000 pampering themselves at the exclusive St. Regis resort in Monarch Beach, Calif.

Posted on Oct 8, 2008 READ MORE


Best Foot Forward

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Posted on May 15, 2008 READ MORE    


Slap Down ‘Free Market’ Pirates

For years, District Attorney Robert Morgenthau has warned that the nexus of capitalism and criminality poses a serious threat to America.  With Bear Stearns now in ruins, maybe we will listen to him.

Posted on Mar 26, 2008 READ MORE


Greed Is Not Good

The housing crisis brings to mind Gordon Gekko, that fictitious ambassador of Wall Street whose words, then and now, remind us why uninhibited capitalism just doesn’t work.

Posted on Mar 24, 2008 READ MORE


Compassionate Conservatism

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Posted on Dec 16, 2007 READ MORE    


Trouble the dog
shanghaidaily.com

Still Mean From Beyond the Grave

Leona Helmsley, the recently deceased billionaire who was famous for being mean and evading taxes, left two of her grandchildren nothing but gave her dog Trouble a $12-million trust fund so it can continue to enjoy the lifestyle it has become accustomed to.

Posted on Aug 30, 2007 READ MORE


Only the Little People Pay Taxes

The Democratic candidates have paid much attention to the president’s horrendous foreign policy, but what of his tax cuts, which have crippled the treasury for the sake of the yachting class?

Posted on Aug 23, 2007 READ MORE


Greed by Any Other Name

Opponents of a new law that would make it easier to form unions, including the president and some Republicans in Congress, have found a clever if shameless method of concealing their loyalty to corporate greed.

Posted on Mar 1, 2007 READ MORE


Chicago Tribune Sign
cra.org

Media Conglomerate Considers Bids

Tribune Media, the conglomerate that owns the Los Angeles Times along with other major newspapers, TV stations and even the Chicago Cubs, announced it is considering offers for its sale. The economic wisdom of conglomeration has come under fire in recent years, but Tribune’s troubles have raised concerns over the future of the newspaper industry in general.

Posted on Jan 21, 2007 READ MORE


Ellen Goodman: Bob the Un-Builder

Home Depot CEO Bob Nardelli’s golden parachute doesn’t just speak to the inequality of income in America, appalling as it may be, but raises another issue just as troubling: the inequality of risk.

Posted on Jan 11, 2007 READ MORE


Powell: Who’s the Greediest of Them All?

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Posted on Jan 5, 2007 READ MORE


Jack Abramoff

Bill Moyers on Defiling Democracy

Bill Moyers offers this gripping and comprehensive analysis of corruption in Washington and finds that “although Jack Abramoff [above] and Tom DeLay have been brought down, the system remains as vulnerable as ever.”

  • Watch it

  • Posted on Dec 8, 2006 READ MORE


    Molly Ivins: The Politics of Greed

    “Anyone who doesn’t think this is a country where the rich are getting richer and the poor are getting poorer needs to check the numbers—this is Bush country, where a rising tide lifts all yachts.”

    Posted on Jul 10, 2006 READ MORE


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