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December 27, 2014
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Becoming Abigail

Becoming Abigail

By Chris Abani

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Tag: Money


Bankers Brought Rating Agencies ‘To Their Knees’ On Tobacco Bonds

Wall Street pressed S&P, Moody’s and Fitch to assign more favorable credit ratings to their deals and bragged that the raters complied. Now many of the bonds are headed for default.

Posted on Dec 27, 2014 READ MORE


Secret Santa

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Posted on Dec 25, 2014 READ MORE


Xmas Shopping

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Posted on Dec 24, 2014 READ MORE



Why We Can’t Get the Government We Want and Deserve

Some believe the central political issue of our era is the size of the government. They’re wrong.

Posted on Dec 24, 2014 READ MORE



The Income Gap Between Races Is Wider Than It’s Been for Decades

Wealth inequality between whites and their black and Hispanic counterparts has reached its highest point since the late ’80s and early 2000s in the U.S.

Posted on Dec 23, 2014 READ MORE


Do You Know What Banks Are Actually Doing With Your Money?

Russell Brand sits down with Max Keiser, who hosts a financial show on RT, to ask him to explain some of the things a lot of us don’t understand about banks. Keiser’s answers may surprise and disgust you.

Posted on Dec 23, 2014 READ MORE


Citigroup Democracy

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Posted on Dec 18, 2014 READ MORE



How Inside Traders Are Rigging America and Contributing to the Savage Inequalities of American Life

Major players on Wall Street have been making tons of money not because they’re particularly clever but because they happen to be in the realm where a lot of coins come their way.

Posted on Dec 18, 2014 READ MORE



NY State Official Raises Alarm on Charter Schools — And Gets Ignored

A top official in the New York State Comptroller’s Office has urged regulators to require more transparency on charter-school finances. The response has been, well, nonexistent.

Posted on Dec 17, 2014 READ MORE


Wall St. Cushion

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Posted on Dec 15, 2014 READ MORE



China Now Has the World’s Largest Economy, Not That It Wanted the Title

The time has come to ponder the implications of China overtaking the U.S. as the largest economy in the world earlier than previously projected; U.K. scientists have made a finding that could help us better treat obesity; meanwhile, perhaps what is most telling about the torture report is not what we can read, but what we can’t. These discoveries and more after the jump.

Posted on Dec 11, 2014 READ MORE



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A Multi-Billion Dollar Secret

If you are a public school teacher in Kentucky, the state has a message for you: You have no right to know the details of the investments being made with your retirement savings.

Posted on Dec 5, 2014 READ MORE



Denis Kornilov / Shutterstock.com

Ukraine Cuts Financial Ties to Rebel Territories

Just in time for the holidays, Kiev has limited access to credit cards and bank accounts, and promised to cut off funds for hospitals and schools.

Posted on Nov 26, 2014 READ MORE



Is College Worth the Cost?

This is the time of year when high school seniors apply to college, and when I get lots of mail about whether college is worth the cost. The answer is unequivocally yes, but with one big qualification.

Posted on Nov 25, 2014 READ MORE



If You Want to Know What’s Happened to Our Democracy, Follow the Richest .01 Percent

Why should we care how the uber rich spend their money?

Posted on Nov 18, 2014 READ MORE



Alan Freed / Shutterstock.com

Hillary Clinton Dabbles in Populism, but Wall Street Isn’t Fooled

Perhaps anticipating a primary challenge from the left (haven’t we been here before?), stealth presidential candidate Hillary Clinton has been trying to appeal to the anti-bank base of the Democratic Party.

Posted on Nov 12, 2014 READ MORE


Casino Math

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Posted on Nov 12, 2014 READ MORE



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What to Do About American Plutocracy

All is not lost. Change has happened in the past, against severe resistance, three times since the Civil War.

Posted on Nov 11, 2014 READ MORE



Maximum Progress on the Minimum Wage

The movement toward a higher minimum wage prevailed in Tuesday’s elections, even in some of the reddest of states.

Posted on Nov 5, 2014 READ MORE



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How Ronald Reagan and the Supreme Court Turned American Politics Into a Cesspool

The dominating significance of the midterm elections has been the occasion’s dramatic confirmation of the corruption of the American electoral system.

Posted on Nov 5, 2014 READ MORE


The Koch Vote

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Posted on Nov 3, 2014 READ MORE


Why the Midterm Elections Should Matter Especially to Women

By Robert Reich

If Republicans take over Congress on Tuesday, the economic position of women will take a major hit.

Posted on Nov 3, 2014 READ MORE



harper kt / Shutterstock.com

Is the Minimum Wage Really a Living Wage?

Under pressure to raise his state’s minimum wage, Wisconsin Gov. Scott Walker confidently declared that there was no need to do so.

Posted on Oct 31, 2014 READ MORE



There Are Twice as Many Billionaires Now Than Before the Financial Crisis

UNICEF reports that child poverty has increased in over 20 countries since the global recession, while a new Oxfam study shows that billionaires have increased their combined wealth by over 120 percent. How can we continue to ignore this appalling inequality?

Posted on Oct 30, 2014 READ MORE



AP/Thanassis Stavrakis

The Most Expensive Midterm Ever

The system has always stunk, but now the campaign contributions are bigger and far more secret.

Posted on Oct 29, 2014 READ MORE



‘When Google Met WikiLeaks’: An Exclusive Excerpt

In 2011 WikiLeaks co-founder Julian Assange was visited by Google Chairman Eric Schmidt. Here, from Assange’s new book, is part of the extraordinary conversation that resulted.

Posted on Oct 29, 2014 READ MORE



AP/Eric Gay

Is Voter Suppression an American Tradition?

Today’s ID laws are driven by an old purpose—undermining genuine majority rule and deflecting threats to the established order.

Posted on Oct 28, 2014 READ MORE


The Tsumoney

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Posted on Oct 27, 2014 READ MORE



A Case Study in the Perverse Incentives Tobacco Bonds Create

A central tenet of government finance is that money borrowed over the long term should be spent on projects that will outlast the debt – things like buildings, bridges or other essential infrastructure. That’s not what upstate New York’s Niagara County did with much of its money from tobacco bonds.

Posted on Oct 25, 2014 READ MORE



A Revisionist Take on President Obama

There is no shortage of bad news for President Obama, but history may be kinder to the man.

Posted on Oct 24, 2014 READ MORE



Facebook/MichelleNunnGA

The Blue-Collar Imperative

Democrats in Kentucky and Georgia are pushing hard to win back the white working-class vote from Republicans.

Posted on Oct 20, 2014 READ MORE



Christopher Halloran / Shutterstock.com

Fracking for the Cure?

One of the world’s largest fossil fuel services firms is partnering with the Susan G. Komen Foundation on a breast cancer awareness campaign, despite possible links between fracking and cancer.

Posted on Oct 17, 2014 READ MORE


Jon Stewart Calls Democrats Out on Their Hypocrisy When It Comes to Money in Politics

Despite countless speeches by Democratic leaders denouncing the evils of money in politics, their party sure knows how to raise and spend boatloads of campaign dollars. “And then of course there are ... the emails,” a horror-stricken Jon Stewart says on Monday night’s “Democalypse” segment of “The Daily Show.”

Posted on Oct 14, 2014 READ MORE



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Billionaire Elections Turn Off Voters

There is far too much complacency about big money’s role in this year’s campaigns, on the grounds that both sides have plenty of it. This misses the point.

Posted on Oct 13, 2014 READ MORE



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What Ebola Can Teach Us

The lessons are quite obvious at this point—and contain implications that are political in the most urgent sense.

Posted on Oct 9, 2014 READ MORE



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A Tar Heel Rebellion Against Conservatism

Democratic Sen. Kay Hagan has been buoyed by her state’s disaffection for conservative cutbacks and restrictions on voter rights.

Posted on Oct 9, 2014 READ MORE



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Dollars for Dudes: Almost No Women Among Medical Industry’s Top-Paid Speakers

The causes are not clear, but men account for more than 90 percent of the 300 doctors who received the most money from drug and medical device companies, according to new federal data.

Posted on Oct 8, 2014 READ MORE



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Health Insurers Are Spending Millions to Defeat California’s Proposition 45

From the start, even fans recognized that one of Obamacare’s great weaknesses was its failure to regulate insurance rates.

Posted on Oct 7, 2014 READ MORE



We Need to Raise Most People’s Wages to Grow the Economy for the Majority, Not the 1 Percent

Other cities and states should follow Seattle’s example.

Posted on Sep 29, 2014 READ MORE


CEO Pay

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Posted on Sep 28, 2014 READ MORE


Koch Gourmet

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Posted on Sep 28, 2014 READ MORE



How Much Control Does Goldman Sachs Have Over the Federal Reserve?

A confidential report and a fired examiner’s hidden recorder penetrate the cloistered world of Wall Street’s top regulator—and its history of deference to banks.

Posted on Sep 26, 2014 READ MORE



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A Pension Jackpot for Wall Street

Most consumers understand that when you pay an above-market premium, you shouldn’t expect to get a below-average product. Why, then, is this principle often ignored when it comes to managing billions of dollars in public pension systems?

Posted on Sep 26, 2014 READ MORE



Global Warming and Global Warring

Hours after 400,000 people joined in the largest climate march in history, the United States began bombing Syria, starting yet another war.

Posted on Sep 24, 2014 READ MORE



DoD photo by Mass Communication Specialist Carmichael Yepez, U.S. Navy

Why Are We Bombing Syria?

The administration’s response to the conjunction of this weekend’s People’s Climate March and the International Day of Peace? Bomb Syria.

Posted on Sep 23, 2014 READ MORE



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Public Pressure Is the Best Hope for Climate Action

On Sunday, a crowd calculated by organizers at more than 300,000 took part in the biggest march ever against climate change.

Posted on Sep 22, 2014 READ MORE



Denis Kornilov / Shutterstock.com

The Mystifying Election

There is something deeply satisfying about the troubles punditry is having in nailing down exactly what’s happening in the 2014 elections.

Posted on Sep 22, 2014 READ MORE



Why Ordinary People Bear Economic Risks and Donald Trump Doesn’t

Bankruptcy was designed so people could start over. But these days, the only ones starting over are big corporations, wealthy moguls and Wall Street.

Posted on Sep 22, 2014 READ MORE



Pincasso / Shutterstock.com

Too Big to Punish

A few months ago, in a press conference about the felony conviction of Credit Suisse, Attorney General Eric Holder said, “This case shows that no financial institution, no matter its size or global reach, is above the law.” Yet, earlier this month, the Obama administration announced its proposal to waive some of the possible sanctions against Credit Suisse.

Posted on Sep 19, 2014 READ MORE


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