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Tag: Wall Street


The Myth of Human Progress and the Collapse of Complex Societies (VIDEO)

In “Moby Dick,” Herman Melville makes our murderous obsessions, our hubris, violent impulses, moral weakness and inevitable self-destruction visible in his chronicle of a whaling voyage. He is our foremost oracle.

Posted on Apr 13, 2014 READ MORE


A Century of Collusion Between Washington and Finance

Former Wall Street executive, financial journalist and Truthdig contributor Nomi Prins tells “Democracy Now!” how a small number of bankers have played critical roles in shaping a century’s worth of financial, foreign and domestic policy in the United States, a series of events that she documents in her new book, “All the Presidents’ Bankers: The Hidden Alliances That Drive American Power.”

Posted on Apr 8, 2014 READ MORE


Wall Street Rigged

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Posted on Apr 7, 2014 READ MORE



U.S. Justice Department Probes High-Speed Trading

File this under “In Case You Missed It” (or “ICYMI,” for Twitter-savvy types): The U.S. Justice Department has launched a probe of high-speed trading to see whether it involves illegal insider trading, Attorney General Eric Holder said Friday.

Posted on Apr 6, 2014 READ MORE



Truthdigger of the Week: Rep. Alan Grayson (Video)

If the Democratic Party has a future in America, it lies with firebrands of populism like Alan Grayson.

Posted on Mar 22, 2014 READ MORE



White House/Pete Souza

No Hope Politics

Listlessness is bad politics. Defensiveness is poor strategy. And resignation is never inspiring.

Posted on Mar 17, 2014 READ MORE



NYC: Where Bonuses Rise, and The Working Poor Still End Up Homeless

Bonuses on Wall Street jumped 15 percent in 2013, while record numbers of New Yorkers poured into homeless shelters.

Posted on Mar 14, 2014 READ MORE



The Inevitability of Income Inequality

Inequality is endemic to the core structure of an America that operates more as a plutocracy than a democracy. It is an inherent result of the consolidation of a substantial amount of both financial power and political influence in the hands of a few families.

Posted on Mar 11, 2014 READ MORE



Journalist Crashes Wall Street Secret Fraternity Party, Lives to Tell Bizarre Tale

As he recounts in New York magazine, journalist Kevin Roose was able to infiltrate a secret Wall Street fraternity party in January 2012 that was attended by many of the top financial moguls of our time.

Posted on Mar 11, 2014 READ MORE



Do Companies Have a First Amendment Right to Track You?

If you think that is a purely academic question, think again.

Posted on Mar 7, 2014 READ MORE



‘The Dick Joke Is Not Always Your Friend’

The recently deceased Harold Ramis’ beloved anti-authoritarian comedies of the late ’70s and the ’80s (including “Animal House” starring John Belushi, pictured) were pop trojan horses of then-emerging right-wing cultural values, former Harper’s Magazine columnist Thomas Frank writes at Salon.

Posted on Mar 6, 2014 READ MORE



thisisbossi (CC-BY-SA)

Western Europe’s Growing Resistance to Immigration

The immigration problem in Europe seems, to me, real but ill-understood. Switzerland is completely untypical, and comparisons with immigration in the United States are totally misleading.

Posted on Feb 11, 2014 READ MORE



Fourth Banker Dies of Apparent Suicide in a Week

Russell Investments chief economist Mike Dueker’s apparent suicide death, discovered Thursday after the 50-year-old former St. Louis Federal Reserve officer had been reported missing from his home in Tacoma, Washington, became the fourth such loss in the financial community in the span of a week.

Posted on Feb 5, 2014 READ MORE



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Don’t Pity the Billionaire

The rich have never been richer and the poor keep getting poorer. And if you think there’s a problem with that, you’re a Nazi. At least according to the poor, put-upon oligarchs.

Posted on Jan 31, 2014 READ MORE



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The Richest ‘Victims’ in America

An ugly outbreak of whiny victimhood is ravaging some of America’s most exclusive ZIP codes.

Posted on Jan 31, 2014 READ MORE



Enough Is Enough: Fraud-Ridden Banks Are Not L.A.’s Only Option

JPMorgan Chase has been involved in more than a dozen felonies. Why are we still doing business with it?

Posted on Jan 30, 2014 READ MORE



Obama’s State of the Union 2014 Speech: Full Text

President Obama played on themes of harmony and unity for the nation, while issuing warning notes to his congressional combatants and (gesturing at) reprimanding Wall Street’s high-rollers, in his sixth State of the Union address Tuesday night.

Posted on Jan 28, 2014 READ MORE



White House/Chuck Kennedy

The President and the Post-Obama Era

President Obama’s State of the Union address on Tuesday is about more than the final three years of his presidency. Its purpose should be to influence the next decade of American political life and begin shaping the post-Obama era.

Posted on Jan 27, 2014 READ MORE



The Myth of Human Progress and the Collapse of Complex Societies

Chris Hedges takes a page from “Moby Dick” in this speech, in which he sketches out a cautionary tale about the American character and, by extension, the ultimate fate of the human race.

Posted on Jan 26, 2014 READ MORE



Ollie Atkins, White House photographer [Public domain], via Wikimedia Commons

To Roger Stone, Bridgegate ‘Cover-Up’ Is Another Watergate—and He Would Know

Very few Republican operatives knew the Nixon gang as intimately as Roger Stone, the legendary trickster whose back is adorned with an enormous Tricky Dick tattoo.

Posted on Jan 24, 2014 READ MORE



Postwar Era Has Ended, but Not Appetite for War

It was Britain, not the United States, which took the initiative in creating a new political order and a new security system after the Second World War.

Posted on Jan 23, 2014 READ MORE



Where ‘Canabusiness’ Goes, Wall Street’s Sure to Follow

Wall Street’s fat cats will be just fine with Americans rolling fat joints en masse once the other 48 states go the way of Colorado and Washington on the marijuana legalization issue. Sure enough, as Capital New York’s Joanna Molloy put it, “Marijuana is going corporate.”

Posted on Jan 21, 2014 READ MORE



A Wall Street Man Owns Up to His Wealth Addiction

“In my last year on Wall Street my bonus was $3.6 million—and I was angry because it wasn’t big enough,” former hedge-fund trader Sam Polk wrote over the weekend in The New York Times.

Posted on Jan 19, 2014 READ MORE



Screenshot from YouTube

The Boss Disses the Governor

I grew up in Jersey—Jersey City. I don’t remember being west of the Delaware River until I was in college. I thought the United States was an Italian country governed by the Irish.

Posted on Jan 17, 2014 READ MORE



AP Images

Elizabeth Warren’s Bill Could Mean Billions for Taxpayers

Sen. Elizabeth Warren has teamed up with Republican Sen. Tom Coburn of Oklahoma to introduce a bill that takes aim at the efficacy and malfeasance of government settlements on corporate wrongdoing and could bring billions of dollars back to taxpayers. If corporations have the same rights as people, then they should have to suffer the same consequences.

Posted on Jan 13, 2014 READ MORE



AP/Richard Drew

Why Chris Christie Is Conservatives’ Worst Nightmare

What is the greatest fear of conservatives when they warn against the dangers of big government?

Posted on Jan 13, 2014 READ MORE



huangjiahui (CC BY-SA 2.0)

Truthdigger of the Week: Documentary Filmmaker Marije Meerman

Through testimony from the people who built it, Dutch filmmaker Marije Meerman gives us a singular view into the dark and dangerous future of investment and trade.

Posted on Jan 12, 2014 READ MORE


Wall St.

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Posted on Jan 9, 2014 READ MORE



livandingmar.com

The One Movie From 2013 You Have to See

In short, the movie year ends, as they almost always do, in disappointment that verges on dismay. But there is hope.

Posted on Jan 6, 2014 READ MORE



Bill Selak (CC BY 2.0)

Justice? JPMorgan to Pay $2 Billion to Make Madoff Case Go Away

Notably, none of the bankers who recognized that JPMorgan was profiting from handling Bernie Madoff’s Ponzi scheme will face charges. Welcome to justice, Wall Street style.

Posted on Jan 6, 2014 READ MORE


Doomsday Machines: High Frequency Trading and the Men Who Built It

Haim Bodek is one of the genius architects of the system of lightning fast computers and algorithms that dominate trading on stock exchanges. Focusing on the “Flash Crash” of May 2010, he takes us on a tour of the terrifying machines that rule the economy and that experts say no one controls.

Posted on Jan 5, 2014 READ MORE



jongjet303 / Shutterstock.com

The Year of the Low-Wage Worker

In 2014, legislation and labor actions could narrow the gap between the rich and the poor.

Posted on Jan 3, 2014 READ MORE



neneo / Shutterstock.com

Rich Catholics Threaten Pope Francis—Because He Frightens Them

If anyone wonders whether Pope Francis has irritated wealthy conservatives with his courage and idealism, the latest outburst from Kenneth Langone left little doubt.

Posted on Jan 3, 2014 READ MORE



DonkeyHotey

2014: Seize the Moment

Congress has just ended one of the worst and least productive sessions in the history of our country.

Posted on Dec 30, 2013 READ MORE



AP/Richard Drew

Overthrow the Speculators

There will never be significant economic reform until megabanks are replaced by a network of state- and city-owned public banks. The revolution must be local.

Posted on Dec 29, 2013 READ MORE



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The GOP’s Growing Divide

The Republican Party, which should have the wind at its back, enters 2014 in disarray bordering on open warfare.

Posted on Dec 26, 2013 READ MORE



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The De Blasio-Bloomberg Paradox

The standard line on New York City’s Mayor-elect Bill de Blasio, who takes office next Wednesday, is that he’s the antithesis of outgoing Mayor Michael Bloomberg. That’s not quite true.

Posted on Dec 26, 2013 READ MORE



Composite image: Handout / Mary Altaffer, AP

Truthdigger of the Week: Judge Jed Rakoff

In The New York Review of Books last week, Judge Jed Rakoff stepped off the judicial bench and blamed the Justice Department for enabling “too big to jail” banks.

Posted on Dec 22, 2013 READ MORE



AP/Bernd Kammerer

Volcker Rule Made Meaningless by Abundant Exemptions

The Volcker Rule has finally been approved by regulators, but with hundreds of pages of exemptions, too-big-to-fail banks have little to fear.

Posted on Dec 18, 2013 READ MORE



Center for American Progress (CC-BY-ND)

Progressives on the Take

The Podesta brothers are the faces of the so-called progressive wing of the Democratic Party that, like the president himself, will talk a good game of reducing income inequality, while catering to the interests of the very corporations that have initiated the problem. 

Posted on Dec 17, 2013 READ MORE



Mike Licht, NotionsCapital.com (CC BY 2.0)

Judge Blasts Feds for Failure to Go After Wall Street Fraudsters

A federal judge and former Wall Street fraud prosecutor asks why no Wall Street bankers went to jail in the aftermath of the financial collapse that led to the Great Recession. Good question. Then he goes on to answer it.

Posted on Dec 17, 2013 READ MORE



HarvardEthics (CC BY 2.0)

Truthdigger of the Week: Paul Volcker

Five years after the financial meltdown, the Volcker Rule provides a framework for regulators to check Wall Street’s propensity to devour the wealth of the nation.

Posted on Dec 14, 2013 READ MORE


‘Left, Right & Center’: A Bipartisan Budget Deal and the Tea Party Bolts

Truthdig Editor-in-Chief Robert Scheer and “Left, Right & Center” host Matt Miller discuss the budget deal, John Boehner’s rebuke of tea party critics, suggested restraints for the NSA, “Dianne Feinstein and those hacks in the Senate,” and more.

Posted on Dec 14, 2013 READ MORE



Russ (CC-BY)

Three Questions About the Motor City

Though these questions have mostly been ignored, continuing to ask them can at least highlight the fact that something nefarious is happening right now in the Motor City.

Posted on Dec 13, 2013 READ MORE



Shutterstock

The Return of the Working Class Hero

For more than three decades, working class Americans receded as cultural heroes, replaced in the popular imagination by swashbuckling entrepreneurs, brilliant innovators, and shrewd investors who make millions at the touch of a computer key.

Posted on Dec 9, 2013 READ MORE



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Why Republicans Can’t Address Rising Inequality

So far, the Republican response to President Barack Obama’s historic address on economic inequality has not veered from the predictable cliches of tea party rhetoric.

Posted on Dec 6, 2013 READ MORE


Wall Street Santa

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Posted on Dec 3, 2013 READ MORE



Philip Chidell / Shutterstock.com

A Pope’s Pointed Message

The full implementation of Obamacare matters. Raising the minimum wage matters. Reforming a financial system “which rules rather than serves,” Pope Francis noted, matters.

Posted on Nov 29, 2013 READ MORE



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The Empire Strikes Back

A whole new get-rich-quick scheme is brewing beneath the fanfare of the nation’s hyped housing recovery.

Posted on Nov 26, 2013 READ MORE


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