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October 13, 2015
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Tag: Wall Street

VIDEO: Turing Pharmaceuticals CEO Martin Shkreli: 5,000 Percent Price Boost ‘Not Excessive at All’

In case you hadn’t heard, last month, Turing Pharmaceuticals CEO and former hedge fund manager Martin Shkreli got hold of the rights to parasite-zapping drug Daraprim, and then he had the bright idea to raise the price from $13.50 to $750 per pill. Now he has a big public relations problem and a self-created health care crisis on his hands.

Posted on Sep 22, 2015 READ MORE

Prosecution of White-Collar Crime Hits 20-Year Low

In 2012, President Obama pledged to “hold Wall Street accountable” for financial misdeeds related to the financial crisis. But as financial industry donations flooded into Obama’s re-election campaign, his Justice Department officials promoted policies that critics say embodied a “too big to jail” doctrine for financial crime.

Posted on Sep 11, 2015 READ MORE

The Latest GOP Fight: How to Reject President Obama’s Nuclear Iran Deal

Just when you think the Republican Party can’t possibly be more chaotic and disorganized, another internal brawl breaks out.

Posted on Sep 10, 2015 READ MORE

CEOs Call for Wage Increases for Workers! What’s the Catch?

Their big idea to solve income inequality isn’t anything new. As Lily Tomlin said, “No matter how cynical you become, it’s never enough to keep up.”

Posted on Aug 28, 2015 READ MORE

It’s Time to Free Students From Debt

Touted as a necessity but priced like a luxury, many degree programs are mediocre or worse—predatory loan scams that hustle aspiring students into deep debt and poverty.

Posted on Aug 20, 2015 READ MORE

Here’s Why the New ‘Family Friendly Work’ Fad Is a Fraud

I’m delighted Netflix and other high-powered firms are offering family-friendly work. But I take most of the news with a grain of silicon, and so should you.

Posted on Aug 17, 2015 READ MORE

A Third of Hillary Clinton’s Backers Have Ties With Financial Industry

Over 30 percent of Hillary Clinton’s top campaign donors made their money from the financial services industry, an analysis by The Guardian shows.

Posted on Aug 1, 2015 READ MORE

Hillary Clinton Aides’ Wall Street Ties Raise Economic Policy Doubts

The Wall Street connections of two of Hillary Clinton’s top State Department aides are forcing progressives to ask how the economic policy of a future Clinton White House would be any different from that which brought the economy to the brink in 2008.

Posted on Jul 26, 2015 READ MORE

How Goldman Sachs Helped Create the Greek Debt Crisis

The investment bank turned a huge profit by helping to hide the real extent of Greece’s debt, and in the process almost doubled it.

Posted on Jul 17, 2015 READ MORE

Hillary Clinton’s Glass-Steagall

Hillary Clinton won’t propose reinstating a bank breakup law known as the Glass-Steagall Act—at least according to Alan Blinder, an economist who has been advising Clinton’s campaign.

Posted on Jul 14, 2015 READ MORE

We Are All Greeks Now

What is happening in Greece in the name of austerity has already happened to the poor and the working class in the United States. If the global financial elites continue in power, the misery of the Greeks will become our own.

Posted on Jul 12, 2015 READ MORE

Wall Street Dominoes

Posted on Jul 9, 2015 READ MORE

Are We Heading for Another Stock Market Crash?

“The signs are ominous,” writes financial journalist Suzanne McGee. Ultimately, we “will need to get accustomed to higher market volatility, of the kind that we saw yesterday.”

Posted on Jul 9, 2015 READ MORE

Fire in the Streets, Dying Tourists and Former Traders Offering Sacrifices to Their New Gods

Trading on Wall Street stopped for more than three and a half hours Wednesday after a computer glitch caused a major outage—but artist and writer Molly Crabapple was there, and she knows it was not a glitch!

Posted on Jul 9, 2015 READ MORE

Petros Giannakouris / AP

It’s Greek to Goldman Sachs

“What is this Goldman Sachs and why has it caused us so much grief?” is a question they must be asking in even the most remote of Greek villages, as they are throughout much of this economically troubled world. (Reposted)

Posted on Jun 30, 2015 READ MORE

Could John Kasich’s Anti-Green Legacy Propel Him to the White House?

The Ohio Republican may be too much of a maverick to get the nomination for the top job, but his anti-environment record could be just the ticket to the vice presidential spot.

Posted on Jun 15, 2015 READ MORE

New Emails Reveal Friendship of Koch Lobbyists and Financial Regulators

Recent emails reveal the close bond between Koch lobbyists and regulators at the U.S. Commodity Futures Trading Commission.

Posted on Jun 12, 2015 READ MORE

Make No Mistake, Wall Street Loves Hillary

“Clinton’s campaign staff is working overtime … to show how well she relates to ordinary Americans,” writes Elizabeth Schulte at Jacobin. “But the people whose opinions really matter in the presidential election know better.”

Posted on May 25, 2015 READ MORE

Cage-Free Bankers

Posted on May 21, 2015 READ MORE

Moochers and Takers

Posted on May 21, 2015 READ MORE

VIDEO: Busting Up Wall Street Is Step 4 in Saving the Economy

When Americans think of how the economic rules are stacked against them, they naturally think of Wall Street, which is back to many of its old tricks. Its lobbyists are now busily rolling back the Dodd-Frank Act—legislation intended to prevent another crash.

Posted on May 19, 2015 READ MORE

The Pathology of the Rich White Family

The rich white family is a menace, and the sickness within it is the most dangerous threat to America.

Posted on May 17, 2015 READ MORE

Christie’s Administration Is Facing Another Investigation

If after last week’s Bridgegate indictments you thought Chris Christie was finally done as the focus of government investigations, think again.

Posted on May 8, 2015 READ MORE

Cities and States Pay Massive Secret Fees to Wall Street

Less than half of the private equity costs incurred by U.S. pension funds are currently being disclosed, a report says.

Posted on Apr 24, 2015 READ MORE

A Deepening Democratic Party Divide

For those pining for a Democratic Party that tries to represent more than the whims of the rich and powerful, these are, to say the least, confusing times.

Posted on Apr 4, 2015 READ MORE

Clintons’ Affair With Wall Street Grows With Son-in-Law’s Hedge Fund Hookup

Marc Mezvinsky, a money manager at the hedge fund firm Eaglevale, married Chelsea Clinton in July 2010 and seems to have reaped benefits from the Clintons’ wide web of financial supporters.

Posted on Mar 24, 2015 READ MORE

Do Workers Truly Get What They’re Worth in the Market?

My recent column about the growth of on-demand jobs like Uber making life less predictable and secure for workers unleashed a small barrage of criticism from some who contend that workers get what they’re worth in the market.

Posted on Feb 10, 2015 READ MORE

Gage Skidmore (CC-BY-SA)

Budget Battle: ‘Envy’ vs. ‘Greed’

Rep. Paul Ryan is not above name-calling, and he insists that President Obama’s budget is the product of “envy economics.”

Posted on Feb 4, 2015 READ MORE

pcruciatti /

A Whining Wall Street Banker Pleads for Pity

J.P. Morgan was recently socked in the wallet by financial regulators who levied yet another multibillion-dollar fine against the Wall Street baron for massive illegalities.

Posted on Jan 30, 2015 READ MORE


Beware Wall Street’s Rent-to-Own Scam

The newest thing in housing looks like a great deal for would-be home buyers, but a closer look reveals a thorny trap.

Posted on Jan 28, 2015 READ MORE

360b /

Enough of Germany’s Tyrannical Austerity

Years of trudging through an economic slough of despond, guarded by German warders, have left the states of the European Union’s south near to despair.

Posted on Jan 27, 2015 READ MORE

State of the Union 2015: Lethal, Predatory, Delusional

“In his next-to-last State of the Union address,” writes Glen Ford, Editor of the Black Agenda Report, “President Obama flashed the suckers a bag of tricks that has no chance of passing the Republican-controlled Congress, but will allow his apologists to claim that the genuine, more progressive Obama is revealing himself in his final two years in office.”

Posted on Jan 22, 2015 READ MORE

The 2015 Federal Budget Ended Pension Protections for Millions of Retirees (Videos)

A rule sneaked into the new federal budget endangers retiring Americans by eliminating the government’s legal obligation to insure pensions in the event the funds cannot pay retirees.

Posted on Jan 5, 2015 READ MORE

AP/Carolyn Kaster

The Devil You Know

It’s not often that name recognition is a bad thing. But from a marketing standpoint, Hillary Clinton is stuck in a rut.

Posted on Dec 30, 2014 READ MORE

Tony Fischer (CC-BY)

How a Hedge Fund Made $100 Million From New Jersey’s Desperation

When New Jersey decided to bail out some of its tobacco bonds, the state gave up $400 million in future revenues to pocket $92 million immediately, an arrangement that also helped one savvy investor cash in on a big bet.

Posted on Dec 30, 2014 READ MORE


Fight for Our Progressive Vision

Poll after poll shows that the American people support a progressive agenda that is not shared by the corporate media personalities who dominate the airwaves.

Posted on Dec 30, 2014 READ MORE


Economic Facts Get in the Way of Presidential Ambitions

Uh-oh. Now that the economy is doing well, what are Republicans—especially those running for president—going to complain about?

Posted on Dec 29, 2014 READ MORE

Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives

The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and depositors and taxpayers could be liable, following repeal of key portions of the Dodd-Frank Act signed into law on December 16th.

Posted on Dec 26, 2014 READ MORE

Secret Santa

Posted on Dec 25, 2014 READ MORE

President Obama and Congress Just Gave Your Savings Account to JPMorgan

With the passage of the 2015 federal budget bill, JPMorgan CEO Jamie Dimon got lawmakers to repeal a key part of the 2010 Dodd-Frank financial reform law and allow banks to use the savings accounts of ordinary Americans to gamble in the stock market on behalf of hedge funds, corporations and the rich.

Posted on Dec 14, 2014 READ MORE

Truthdig’s Books of the Year: Part One

Whether on climate change, soaring wealth inequality, or the surveillance state, this has been a year of calls to action.

Posted on Dec 12, 2014 READ MORE


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

Illustration by Donkey Hotey (CC-BY)

An Economic Agenda for America: 12 Steps Forward

The American people must make a fundamental decision. Do we continue the 40-year decline of our middle class and the growing gap between the very rich and everyone else, or do we fight for a progressive economic agenda that creates jobs, raises wages, protects the environment and provides health care for all?

Posted on Dec 2, 2014 READ MORE

Wall Street’s Takeover of American Pensions: ‘A Policy Justified Entirely on Ignorance’

A key part of Wall Street’s $300 million expenditure on the recent midterm elections is the goal of moving as much of working Americans’ $3 trillion that sits in unguarded government pension funds into “privately managed, high-fee investments” as possible.

Posted on Nov 24, 2014 READ MORE


Wall Street Takes Over More Statehouses

No runoff will be needed to declare one unambiguous winner in this month’s gubernatorial elections: the financial services industry.

Posted on Nov 14, 2014 READ MORE

Alan Freed /

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

The Myth of the Free Press

The mass media set the parameters of acceptable debate. Cross those parameters, as the investigative journalist Gary Webb did, and you are turned into a pariah.

Posted on Oct 26, 2014 READ MORE

Tim Pierce (CC-BY)

Elizabeth Warren Is the Star of This Show

Sen. Elizabeth Warren says she isn’t running for president. At this rate, however, she may have to.

Posted on Oct 20, 2014 READ MORE

White House/Pete Souza

Where’s the Gratitude?

President Obama is clearly frustrated that having inherited an economy that was at death’s door, he is getting remarkably little credit for getting it back on its feet.

Posted on Oct 6, 2014 READ MORE

Ryan Johnson (CC-BY-SA)

Eric Holder and RFK’s Legacy

When he announced his leave-taking last week, Attorney General Eric Holder spoke of Robert F. Kennedy as his inspiration for believing that the Justice Department “can and must always be a force for that which is right.”

Posted on Sep 29, 2014 READ MORE

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